: Key Takeaways: The Crossroad of Hobby and Business Recognizing the Business Potential of Your Hobby In the UK, transforming a hobby into an income-generating activity requires understanding tax obligations and the point at which a hobby qualifies as a business. The distinction hinges on the intent to make a profit and the annual income threshold set by HMRC. Navigating the Tax Landscape The transition from hobbyist to business owner is marked by surpassing the HMRC’s Trading Allowance limit. Once this £1,000 threshold is exceeded, it becomes imperative to register as a business, invoking a series of tax responsibilities and financial The post Turn Your Passion into Profit: Navigating the New Tax Year as a Budding Entrepreneur appeared first on Business Today
: Franchise Fundamentals: Taking a deep dive into the Franchise Disclosure Document lfair May 23, 2023 | 6:41PM Franchise Fundamentals: Taking a deep dive into the Franchise Disclosure Document By Lesley Fair Love at first sight may (or may not) be a real thing, but when it comes to investing your money, it’s unwise to fall for a franchise without first subjecting it to tough-minded scrutiny. The third in the FTC’s Franchise Fundamentals blog series walks through an essential part of that evaluation: an in-depth review of the Financial Disclosure Document (FDD) required by the FTC’s Franchise Rule . You must receive the Franchise Disclosure Document at least 14 days before you’re asked to sign any contract or pay any money to the franchisor or one of its affiliates. In fact, you have the right to the FDD once the franchisor has received your application and agrees to consider it. So speak up if you don’t receive it and ask questions – lots of them – as you review the FDD and any attached documents. Image Ind[...]
: Le texte français suit. Dear CALLeagues, It was wonderful seeing over 160 of you in Moncton last month for a fantastic conference! I am still thinking about some of the sessions, from Dean Michael Marin's keynote on embedded librarianship and the role that law librarians have in legal education and practice, to sessions on generative AI use in law faculties and law firms, negotiating vendor contracts, and more. A huge thank you to co-chairs Michèle Leblanc and Laura Corscadden and the entire conference planning committee for all of their hard work. We have received wonderful feedback already, though a formal survey will be sent out in the coming weeks. Please do look out for that. As I settle into the president's role, I want to thank Jason Wong for an outstanding year at the helm. Jason's focus on community building and financial sustainability moved us forward in real, tangible ways, and his commitment to inclusion set a standard I hope to maintain. Thank you also to Mary-Jo Petsche for her four years on t[...]