No doubt about it: Weekends were made for reading time, and we’re already craving an adventure for the long holiday. Looking to pack your overnight bag with some hot new releases? From the next big “it” YA novel to dramatic prose that will keep adrenaline running high during summer escapes, here is your go-to reading list for Memorial Day weekend and beyond.
<em><a data-affiliate-link="" href="https://www.amazon.com/Arboria-Park-Kate-Tyler-Wall/dp/1631521675/?tag=bm01f-20" rel="noskim" target="_blank">Arboria Park</a></em>
Big cities have their charm, but we all know that drama runs deepest in small American towns — just take a tiny look at Arboria Park. Stacy Halloran has lived her entire life in the 1950s-era neighborhood, and just as she is about to make her grand escape (both physical and emotional), a new highway project threatens it all. Will Stacy choose to pave the way for the future or risk it all to save her history?
<em><a data-affiliate-link="" href="https://www.amazon.com/Half-Life-Remorse-Novel-Grant-Jarrett/dp/1943006148/?tag=bm01f-20" rel="noskim" target="_blank">The Half-Life of Remorse</a></em>
Two up-to-no-good migrants cross each other’s paths without realizing they met many years before — and the road ahead isn’t any more simple. A captivating puzzle of running away from the past, seeking forgiveness, and learning from mistakes, The Half-Life of Remorse will make you feel way better about any guilt your own soul is harboring.
<em><a data-affiliate-link="" href="https://www.amazon.com/Lucky-Boy-Shanthi-Sekaran/dp/1101982241/?tag=bm01f-20" rel="noskim" target="_blank">Lucky Boy</a></em>
Undocumented immigrant Solimar “Soli” Castro-Valdez finds more than a new life when she illegally crosses the Mexican border: She ends up heartbroken, alone, and pregnant. When Soli is abruptly detained, her son Ignacio is placed with a baby-deprived Berkeley resident who soon deeply adores the child as her own — but nothing lasts forever. A heartbreaking and moving tale of two mothers who would do anything for their son, Lucky Boy will rattle the core of every reader and prove motherly love knows no borders.
<em><a data-affiliate-link="" href="https://www.amazon.com/Its-Always-Husband-Michele-Campbell/dp/1250081807/?tag=bm01f-20" rel="noskim" target="_blank">It’s Always the Husband</a></em>
When a wife is killed, who does society blame first? The man she’s closest to. But this tale enters far darker waters… ones filled with the complex love/hate friendships between three wildly diverse women and the destructive secrets they share. An absorbing, unputdownable drama that will have you skipping all your holiday plans for the sake of one more chapter, It’s Always the Husband will tear apart your imagination, shred through your heart, and leave you stunned.
<em><a data-affiliate-link="" href="https://www.amazon.com/Women-Castle-Novel-Jessica-Shattuck/dp/0062563661/?tag=bm01f-20" rel="noskim" target="_blank">The Women in the Castle</a></em>
For the reader who is always on the prowl for the latest historical fiction release, this post-WWII story centers on three women haunted by a failed conspiracy to assassinate Adolph Hitler and the grand crumbling Bavarian castle that connects them. An emotional powerhouse of plot, love, and the art of surviving the suffocating ashes of war, The Women in the Castle will grab the heart of every history-loving bookworm.
<em><a data-affiliate-link="" href="https://www.amazon.com/This-Moment-Novel-Karma-Brown/dp/0778329917/?tag=bm01f-20" rel="noskim" target="_blank">In This Moment</a></em>
Happy mother Meg Pepper is doing a routine school pickup one day — but when she waves a teenage boy to cross the street, her life is changed irreversibly. Haunted by her guilt over the horrific car accident that follows, Meg helps the boy’s family during his rehab process and finds herself mysteriously drawn to his father. An emotionally riveting mélange of secrets, forbidden desires, and affairs of the heart, Brown’s new novel will forever make you a devout fan of her storytelling.
<em><a data-affiliate-link="" href="https://www.amazon.com/Alex-Eliza-Story-Melissa-Cruz/dp/1524739626/?tag=bm01f-20" rel="noskim" target="_blank">Alex & Eliza</a></em>
Are you a serial YA consumer? Then you need to indulge in Alex and Eliza ASAP — a make-your-heart-melt telling of the love that unfolds between Alexander Hamilton and Elizabeth Schuyler during the American Revolution. Hint: They meet at a ball and change the course of American history. There’s no chance you’ll escape this read with anything less than butterflies, as New York Times bestselling author Melissa de la Cruz works her magic once again.
<em><a data-affiliate-link="" href="https://www.amazon.com/Goodnight-London-Novel-Jennifer-Robson/dp/0062389858/?tag=bm01f-20" rel="noskim" target="_blank">Goodnight from London</a></em>
An ambitious young reporter moves to London to report on World War II and start her life anew. The problem? The relentless Blitz destroys everything but her life — though that’s when the real adventure and romance starts. Inspired by the real-life events of the author’s grandmother, this decadent story of Britain’s history and staying fiercely true to the heart will leave every Memorial Day reader mesmerized.
<em><a data-affiliate-link="" href="https://www.amazon.com/Last-Seen-Pepper-Hunt-Mystery/dp/1631522027/?tag=bm01f-20" rel="noskim" target="_blank">Last Seen</a></em>
Police consultant and psychologist Dr. Pepper Hunt is no stranger to pain. She just fled her successful private practice for a new start in Wyoming, and even there the haunting memories of her husband’s murder linger closely behind. When a new patient mysteriously disappears in a blizzard, Pepper joins forces with a local detective to discover the horrifying truth… one that could threaten to destroy her new start before it begins.
<em><a data-affiliate-link="" href="https://www.amazon.com/Paper-Boats-Dee-Lestari/dp/1503943585/?tag=bm01f-20" rel="noskim" target="_blank">Paper Boats</a></em>
A free-spirited girl who dreams of bringing stories to life on paper and a sweet blooming artist who is afraid to abandon stability pursues his craft: What do they have in common? They share a deep and unwavering love for one another, but neither has the courage to admit it. A brilliantly beautiful tale about the power of love, originally published in Indonesia, these pages will inspire you to abandon all fears and embrace the life (and person) your heart wants.
Welcome to Selfmade Finance School, our new money series with Block Advisors to help small business owners with their tax, bookkeeping, and payroll needs year-round. This week, we explore the tax implications of bringing family members into your business.
The question for today is this: Does hiring your family members make sense for your business? Let me be clear. This is not a piece about whether hiring your family members makes sense for your relationships with those family members. As someone who is part of a family business, I could fill up a lot more than 600 words on my opinions about that. For today's purposes, we focus on whether it makes sense from an overall "good business and tax implication" perspective. As it turns out, there is a decent amount of tax nuance when it comes to employing your family. Let's break it down based on relationship to the employee:
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Spouses Who Are In Business Together
Personally, if I had to be in business with my husband, it would not go well. However, many couples build viable, strong businesses together and I say, good for them! Depending on how you have your business entity structured, it will make a big difference on the tax treatment of you and your spouse working as partners. Because a business jointly owned and operated by a married couple is generally treated as a partnership for Federal tax purposes, the spouses must comply with filing and record keeping requirements imposed on partnerships and their partners. The election to file two Schedule C (Form 1040) forms, (one for each spouse) permits certain married co-owners to avoid filing partnership returns, provided that each spouse separately reports a share of all the businesses' items of income, gain, loss, deduction, and credit. Under the election, both spouses will be subject to self-employment tax and on net earnings from self-employment and receive credit for Social Security earnings.
One Spouse Employs Another
If you have a dynamic where your spouse is an employee of your business, then your spouse's wages are subject to income tax withholding, Social Security and Medicare taxes. If you are self-employed (not a corporation or a partnership), your spouse's pay does not have to be included in your federal unemployment tax account (FUTA) contributions and payments. However, if your business is a corporation or a partnership you must include that spouse's pay in your unemployment tax contribution calculation.
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You Employ Your Child
First, let's be clear. I work in my family business, but I am an adult, so I am treated just like a normal employee. However, if you, for example, run a family restaurant and want to hire your children under 18 to work for you, there are some tax benefits. But first, you should check with your state for rules on how many hours minors can work (in non-agricultural jobs) and reference the Fair Labor Standards Act for information on limitations on the kinds of work children can perform.
"This is an often overlooked or under-utilized strategy. Paying your children for true services they provide in your business can be a powerful tax-saving tool," says Cathi Reed, Block Advisors Regional Director. "If you are a sole-proprietorship or single member LLC, and the child is less than 18 years of age, the business is not required to withhold FICA or payroll taxes. The child can use his or her standard deduction against income you pay."
You Hire Your Parent
Oh dear. If you are brave enough to do this, know that you will need to pay Social Security and Medicare taxes on your parent's wages and make the appropriate withholdings, but you don't have to pay unemployment taxes. Now all you have to do is convince your parent that you are the boss. Have fun with that!
Is Hiring Family Members Worth It For The Tax Benefits?
"There are some positive tax advantages to hiring family members. It's important to treat a family member like any other employee. Hiring your children can result in substantial savings for businesses. Make sure your child has real, age-appropriate work to do and a reasonable pay rate, comparable to other employees. Consult with a Block Advisors small business certified tax pro to ensure that you are complying with all requirements," advises Reed. "Block Advisors, a team within H&R Block, is dedicated to meeting the tax, bookkeeping and payroll needs of small business owners year-round. To start working with the tax experts at Block Advisors, visit blockadvisors.com."
In my opinion, you should not hire a family member solely because of the tax benefits. You should always hire based on whether that person is right for the job and keep in mind how this hire could materially impact your relationship with that person and others in your family. Finally, as I mentioned, make sure you have a tax professional on your team when making these determinations. As you can see, things can get a little tricky!
*All details were sourced from IRS.gov and blockadvisors.com
The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regards to your individual situation. Comments concerning the past performance are not intended to be forward looking and should not be viewed as an indication of future results. Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. O'Keeffe Financial Partners and any other entity listed herein is not affiliated with Kestra IS or Kestra AS Investor Disclosures: https://bit.ly/KF-Disclosures