12 Must-Try Style Trends from NYFW You’ll Want to Wear Now
Sure, maybe we haven’t even really started wearing spring’s trends yet, but fashion waits for no woman. We know it can be tough to keep track of what season starts when and which trends go with what season, so we’re laying it out for you. This fall, you’re going to see a lot of spring’s trends getting recycled, only with ever-so-subtle changes in color, texture and mood. The retro vibe of past seasons is still going strong, with menswear-inspired looks following suit (see what we did there?). Wanna know what else is in store? We’re sharing 12 must-try runway trends for this fall.
1. Statement Sweaters: Sweaters, especially oversized ones, blew up last fall and this spring, with almost every collection featuring a few of the cold weather staples. For fall 2015, sweaters feel more safe than groundbreaking, with a few tweaks. Designers like Nicholas K and Adam Lippes looked to statement-making embellishments like shaggy fringe and furry shoulder pads to make them stand out. (photo via Courtesy Adam Lippes)
2. Turtlenecks: Frilly ruffled necklines, understated mock necks and sexy sheer illusion tops go full throttle for fall, getting reworked into cold weather-worthy turtlenecks. From oversized to cable knit and everything in between, this age-old style was a runway favorite with J.Crew, DKNY, Opening Ceremony and Misha Nonoo. The key to rocking this look come fall? Try layering it under a shift dress — we love that hot pink! (photo via Jemal Countess/Getty)
3. Lace-Up Knee-High Boots: Gladiator sandals seem to reinvent themselves every year for the spring season, which just goes to show: If it works, why mess with it? For fall, knee-high lace-up boots fill in where the gladiators leave off. They have a more Victorian feel than their sandal counterparts with pointed toes and high heels, but offer an interesting, cool-weather alternative to the stylish summer stepper. (photo via Neilson Barnard/Getty)
4. Retro Shades With Contemporary Flair: Fashion is having a major déjà vu moment right now, and it isn’t just the clothes. Accessories are on a retro kick too. Groovy round shades may be a fave for spring, but come fall, mod styles with a contemporary twist like those seen at Karen Walker are slated to become the sunglasses of choice. (photo via Albert Urso/Getty)
5. Eccentric Fur Toppers: Ever since Pharrell donned that outrageous vintage Vivienne Westwood hat last year at the Grammys, the fashion world has gone a little hat crazy. Similar styles (and even wackier ones) were popping up everywhere, and the trend continues with fall, introducing us to a slew of fur toppers that lumberjacks, sherpas and even Vikings would love. This eccentric chapeau by Anna Sui, with its oversized tassels and pouf, takes the cake. (photo via Slaven Vlasic/Getty)
6. Fur: Designers and street style stars have fallen hard for shearling and mohair over the last couple seasons, but this fall, they’ve shifted gears, leaving behind the edgy leather and shearling jackets for something with a little more pizazz. Enter fur. From Altuzarra’s pink confenction of a coat to countless stoles, hats and muffs (plus one crazy awesome Rodarte bomber jacket with a furry collar), fur, both faux and real, was everywhere. (photo via Neilson Barnard/Getty)
7. Folklore: Fashion’s love affair with the ’60s and ’70s went bohemian for spring, with designers churning out airy floral dresses, fringe-flecked everything and feathery, layered necklaces. Boho gets reworked for a more folksy feel for fall. Folk-art prints adorned fit-and-flare dresses at Honor, while we spotted pieced-together leather looks at BCBG. Nicole Miller also revealed a mythical illustration-inspired collection. (photo via JP Yim/Getty)
8. Long Layers: Crop tops are spring essentials, but we found fall runways to be the opposite, with long layers (think midi skirt + extra long sweater + coat) dominating the runway at DKNY, Creatures of Comfort and Edun. (photo via Neilson Barnard/Getty)
9. Fall Florals: Crazy bright blooms and psychedelic flora gets turned down a notch for fall. Autumn’s floral prints are more muted (Suno) or set against dark backdrops (Adam Lippes) to highlight the shift in season. (photo via Courtesy of Adam Lippes)
10. Disco Diva: Tailored separates, toned-down bell-bottoms and other more sophisticated ’70s styles were the direction designers took for spring. But fall sees a bit more Studio 54 than in seasons past, and that means glittering getups with plunging necklines and Rodarte’s leather hot pants giving us a bit of disco fever. (photo via Neilson Barnard/Getty)
11. Contemporary Masculine Suits: Impeccably tailored suits with an undeniably retro vibe were the sophisticated silhouette of choice for spring. This fall, the suit will take a step away from the ’70s and reemerge as an extension of the menswear-inspired trend, with a more masculine fit and contemporary details, as seen at Yigal Azrouel. Of course, a few flashback styles remain, like Michael Kors’ relaxed gray tweed suit and Diane von Furstenberg’s ’90s-inspired power suit. (photo via Jemal Countess/Getty)
12. Plaid: Playful, girly gingham gets a rugged upgrade for fall, ditching the pastel hues for autumn-appropriate shades and bigger, bolder patterns. Alexander Wang broke up his all-black collection with a jacket or two in the classic pattern, while Kate Spade played with different styles and colors that ranged from the lumberjack to preppy navy and cream-colored prints. (photo via Cindy Ord/Getty)
What trends are you feelin’ for fall? Tell us in the comments!
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