Ah, award show season. While voting is done for the very best of TV and film for the 21st Annual Critics Choice Awards taking place at Santa Monica Airport’s Barker Hangar in California, it’s not too late say which hair, makeup and outfit looks making an appearance tonight are the hottest. We’re tuning in to the show on A&E and reviewing all the outfits our fave celebs are wearing as they grace the red (more like BLUE) carpet and picking out the very best of the best. We’re also picking up on a all-black, a sea of grey-blues and lots of solids trend on this carpet tonight — and some looks you should totally steal for Valentine’s Day. Take a peek at the roundup below.
Amy Schumer:
Trainwreck star went all white in a halter dress that is pitch perfect for this winter season, though her hair and makeup was all bronzed goddess. We especially love that she went totally jewelry free and accessorized with a simple white box clutch.
Leslie Mann
While most people donned long gowns for tonight’s award show, Leslie Mann went with black and grey ombré tulle cocktail dress and looking absolutely adorable. You can totally cop this look for a wedding — so take notes. We also love that she finished her look with a bold red lip and some sweet T-strap heels.
Bryce Dallas Howard: T
Jurassic World star was channeling some serious Morticia Addams vibes in a plunging black V-neck gown by Balmain and serious smoky eye. While she didn’t wear a $4800 dress from Neiman Marcus this time, she did reveal that her dress was bought ONLINE at Forward by Alice Walker no less. YAAAAS. She accessories with a sparkly lariat necklace, simple diamond studys and pulled her iconic red hair in a sleek low ponytail.
Constance Wu:
Fresh Off the Boat star looked every bit of a boho mermaid in her watery blue assymetrical gown by Peter Langner (complete with fluttery cape/sleeve). We’re also seriously digging her slightly messy milkmaid crown braids. The actress isn’t just presenting tonight. She’s also nominated for the role of Best Actress in a Comedy Series for her role as tiger mom Jessica Huang.
Kirsten Dunst
Here’s the look you need to be sporting on your next date night. Kirsten Dunst was nominated for her role in Fargo, and ever the trendsetter, she shook things up on the blue carpet with her tiered, crystal-encrusted midi dress. She kept her blonde locks in a sleek bob and accessorized with a red lip color. For a very subtle pop of color, her shoes are a lovely champagne.
Rosie Huntington-Whitely:
engagement ring at last week’s Golden Globes, supermodel/actress blew everyone out of the water with this all-black dress with the most gorgeous train. She decided to accent her look with lots of silver in her earrings, her strappy stilettos and that to-die-for sequined Louis Vuitton clutch.
Aya Cash
The Best Actress in a Comedy Series nominee totally took the opposite route and went super cool with a chic tux and gold-toed pumps. She looks absolutely dashing. If dresses and gowns aren’t your thing this Vday, definitely consider sporting this trouser and bowtie combo on your date night or Galentine’s.
8. Emmy Rossum: Sure, there’s a lot of black on the blue carpet tonight, but Emmy Rossum’s midi-dress is a standout because it has a totally unexpected element. The silver sequin peeking out from her slit is so amazing (and DIYable!) Just imagine adding a sheath of sparkle to your fave slitted skirt.
Shiri Appleby
The actress and new mom is nominated for her role in Unreal, a scripted series where she plays a producer on a Bachelor-like TV show. She stunned in a flowy burnt orange gown looking every inch a Greek goddess and her loose, pulled back half-pony.
Gina Rodriguez:
Jane the Virgin star looked positively peachy in her regal cap sleeve floor-length number. The second time nominee for Best Actress for her TV Show blinged out her fingers with some diamond encrusted floral rings and swept her hair up into an uber-elegant updo with just enough sweep of bang to keep it flirty.
Saoirse Ronan:
Brooklyn (she’s only 21!) and she also opted for blue tonight in this beautiful blue column dress. There’s just enough a highlights with that unique beaded detailing on her shoulders. Amazing.
12. Kathryn Hahn: You could spot Kathryn Hahns bright yellow floral brocade gown from a mile away and it certainly is a looker. There’s definitely a red lip trend on the blue carpet tonight. Kathryn also finished her looked with some casual, side-pinned waves.
Krysten Ritter:
Jessica Jones star is nominated for Best Actress in a Drama and the second season was just announced today. She kept her lips nude in order to showcase her smoky grey eyeshadow.
Jennifer Aniston:
Leftovers, and her makeup with particularly gorg with her bold kohl-lined eyes. We’re digging the look, Jen!
Hayden Panetierre:
Nashville actress who is nominated for Best Supporting Actress for her TV show is presenting tonight, and her nude color gown has cut outs in all the right places. Needless to say, this is one show stopping look. Her eternally stylish lob looked on point tonight as well.
Rachel McAdams:
Spotlight including Best Supporting Actress tonight.
17. Zoe Kravitz: Zoe Kravitz decided to eschew a gown tonight and instead decided to go for a gorgeous bright tangerine colored two-piece top and pants. The real scene-stealer here however though are her sparkly earrings that straight up look like fireworks. Would you expect anything less from the style icon?
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