
With each new year comes new trends in food, fashion and decor, and speculators can only guess about what will *really* take center stage. In 2016, unicorn cakes, breakfast cereal desserts and ’90s nostalgia were at the forefront of the food world. Now that 2017 is finally here, will we continue to see more of these colorful, playful trends? To a degree, perhaps, but there are plenty of new, creative and — surprisingly — healthy trends just around the corner. Here are 13 of the foodie obsessions that experts are currently predicting will dominate 2017.
View this post on InstagramA post shared by Bella O'Keeffe (@bybella.ie) on
1. Unicorn Toast: First there was avocado toast. Then there was sweet potato toast. Now, we’re psyched to report that something even more yummy (and pretty) has been dreamed up: UNICORN TOAST.
View this post on InstagramA post shared by Zenful Matcha (@zenfulmatcha) on
2. Matcha: Matcha was pretty big in 2016, but it’s poised to continue its climb to stardom in 2017. With more and more people choosing healthy, clean ingredients, this variety of green tea is right in line with the health food zeitgeist that will likely define 2017.
View this post on InstagramA post shared by Blue Apron (@blueapron) on
3. Food Boxes: Last year, food box delivery services like Blue Apron changed food prep forever, offering home chefs everywhere the option of receiving their dinner supplies in one convenient package. Experts are predicting the trend will explode in 2017. Now, if only the ingredients could be delivered right to our kitchen windows, Jetsons style.
4. Teff Flour: Teff, a flour native to Ethiopia, is a gluten-free alternative to regular wheat flour. It also boasts a stellar amino acid profile and packs a huge protein punch, so it’s a natural shoo-in for healthy bakers everywhere.
5. Chocolate Cake for Brunch: With muffins and pancakes being basically desserts anyway, why not go all-out and eat chocolate cake for brunch? In fact, that’s what Sunday-morning brunchers across the country are already starting to do, and the trend isn’t expected to go away anytime soon. THANK GOD.
View this post on InstagramA post shared by Michelle Braxton (@supperwithmichelle) on
6. Soup: Have you heard that souping is the new juicing? Those of us who prefer savory to sweet will be psyched to hear that healthy, hearty soups are going to be all the rage in 2017. Already thinking about warm weather? No worries — cold dishes like gazpacho and chilled green pea soup can cool you off on a hot summer’s day.
View this post on InstagramA post shared by URB APOTHECARY (@urbapothecary) on
7. Cactus Water: Coconut water is *so* 2016. JK (we still love coconut water), but cactus water is the newest plant-derived water to grace the scene, and it’s going to be everywhere in the coming year.
View this post on InstagramHe won't even try it @mr_cheezle #hesmissingout #seaweedsalad & #sushi for #lunch
A post shared by HAELEY ATKEISSON (@haeleylou) on
8. Seaweed: Seaweed is super healthy, as it’s full of calcium, iodine and vitamin K. From seaweed salad to kelp seasoning, you’re going to see more and more of it in 2017.
9. Fat Bombs: In 2016, the nutrition community learned what some of us have suspected all along: Fat is actually REALLY good for us. Next year, we’ll likely see the fruits of a renewed commitment to natural fat sources such as butter, ghee and lard… and high-fat, low-carb “fat bombs” will be a popular treat for health-conscious eaters.
View this post on InstagramA post shared by Vick Sirotyuk (@myperfectgreens) on
10. Moringa: Yes, matcha is still popular, but it has a slightly more offbeat cousin that’s also making her way into the spotlight: moringa. Moringa can be made into a tea as well, and it’s derived from the leaves of the moringa tree, which is native to India, Pakistan and Bangladesh.
View this post on InstagramA post shared by Addie Broyles (@broylesa) on
11. Broccoli Stems: Waste not, want not! Food experts have noticed a definite trend toward zero-waste cooking, and that means using EVERY part of the animal or plant you’re preparing. Broccoli stems are hearty yet soft, mild yet flavorful, and generally delish.
View this post on InstagramA post shared by Edgar (@edgarraw) on
12. Jackfruit: Jackfruit is a hearty (and gigantic) fruit native to southeast Asia. In fact, it’s SO hearty and gigantic, it makes for a really great meat substitute. In line with a general trend toward clean eating, experts are predicting a dramatic increase in jackfruit consumption this coming year.
13. Blackened Meats: Cajun cooking is becoming en vogue this year too, and what says Cajun cuisine like perfectly blackened fish and chicken? Nothing, that’s what. To get really authentic, blacken some crawfish or alligator. (We promise — it’s actually pretty delicious.)
For more food trends and inspiration, follow us on Pinterest!
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:
You X Ventures for Unsplash
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.
Kobu Agency for Unsplash
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