Ayesha Curry Shares Her Favorite Thing About Motherhood
To an outsider, it might seem like there are a lot of things about the Curry household that are extraordinary — but Mother’s Day isn’t one of them.
“I love that I get to somewhat relax [on Mother’s Day],” food industry superstar and mom of two (soon to be three!) Ayesha Curry tells us. “The day usually revolves around some sort of meal in bed and handmade cards, and that is truly the way to my heart.”
She certainly deserves the downtime. Outside of her roles as mom and wife to NBA superstar Stephen Curry, Curry’s list of entrepreneurial roles is looooong. She sits at the helm of multiple businesses, including meal subscription kit Homemade, the International Smoke restaurant, Ayesha’s Cookware, and tableware brand and more Cheeky Kids. Oh, and did we mention that she’s a face for Cover Girl and a Food Network personality?
No matter how busy life gets, Curry says that motherhood has been a gift. “My favorite thing is watching them grow,” she says of her kids. “When you become an adult, you wish you could be a kid again, and I get to be one with them every day — for at least a second — when we play or read or go on an adventure.”
Given Curry’s obvious flair for the culinary, it should come as no surprise that she spends a lot of time with daughters Ryan and Riley cooking in the kitchen, a process that’s no less messy in the Curry household than it is anywhere else. Like most moms, Curry says she does her best to focus on the memories she’s making more than the sticky floors and dirty countertops. In an effort to streamline one part of mealtimes, the supermom recently announced the release of her second collection with Cheeky Kids, of which she’s the co-founder.
“My kids are in school now and anything that makes lunch easier and more organized makes me a happy mama,” she says. “I love [Cheeky’s] lunch storage container and lunch bags, and the new colors are a hit with the littles.”
The new Mealtime Collection is available at Target. It features a colorful selection of reusable, BPA-free tableware — think straw bottles, bento boxes, divided and non-divided plates, tumblers, bowls, and cutlery — for kids between the ages of three and eight. The line also features funky, whimsical characters Balloonicorn, Mermaid, Space Dino, and Skater Shark.
If the cute designs and mom-approved functionality of the Mealtime Collection aren’t enough to appeal to the parents out there, Cheeky Kids is also continuing to give back to kids in need with the launch of the new collection. As part of the company’s partnership with No Kid Hungry, each Cheeky Kids item purchased will fund one meal for a child in the US. Curry has been an ambassador for No Kid Hungry for years, and the cause is close to her heart.
“There is still so much work to be done to end childhood hunger right here in America,” she says. “I choose to work with [No Kid Hungry] because I believe every child deserves a fair shot at life and a great education. The fact that learning and growing with a full stomach can aid in ensuring that happens should be a no-brainer for everyone. Being able to provide in-class meals for all students is a great way to join the fight in ending childhood hunger.”
Are you excited to check out Ayesha Curry’s new Cheeky Kids line? Tweet us @BritandCo!
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(Photos via Cheeky)
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