6 Reasons You’ll Want to Visit “Top Destination of the Year” Nashville
Toying with the idea of a trip to Nashville? Get ready to stir up some serious wow: Nashvegas beckons, y’all. This southern beaut offers countless attractions, events and activities for every kind of traveler (and did we mention concerts?). Whether fashion, fabled landmarks or flirting at the bar with a southern drawl is your cuppa (sweet) tea, this city’s got it. Ready to call it quits for the night? Probably not, but from boutique hotels to an Airbnb that’s actually a sleek tour bus, this Tennessee gem doesn’t disappoint. Recently voted Travel + Leisure’s Reader’s Choice for Top Destination of the Year, here’s why you should grab your favorite boots and giddy on up!
1. The food will leave you vowing to pack your bags and sign a lease. This southern sweetheart isn’t just for hot chicken enthusiasts (though they’ve got a hot chicken shack with a James Beard under their belt!). From shared plates to backyard-to-table offerings, you’ll find endless tantalizing choices to fulfill your wildest culinary fantasies. Some new and noteworthy spots that are must-adds to your wish list: Le Sel, Butcher & Bee, 5th & Taylor, Fifty First Kitchen & Bar, Little Octopus and Biscuit Love. Brunchavores: Bring your A-game and an insatiable appetite for bloody marys with more accoutrements than an interior designer has throw pillows. (Photos via Biscuit Love)
2. The fashion will blow you away. They’re as fiercely proud of their clothing designers, handbag and shoe maestros and jewelry whizzes as they are their musicians — and with good reason. Nashville is home to a burgeoning group of creative class acts. Swing by Ceri Hoover for bags that will make you swoon, Two Son to put clothing addicts in a happiness coma and Judith Bright for bold, streamlined geometric jewelry that will make you feel hall-of-fame-ready. (Photo via Judith Bright)
3. Your (air) guitar will gently weep at the exorbitantly vibrant music scene. From multi-day festivals to curbside performances that will have you tweeting with certainty that you just met the next Ms. Swift (The city holds no grudges that the city’s darling moved to NYC. In fact, locals will proudly direct you to swing by the Taylor Swift Education Center on your visit to the Country Music Hall of Fame), there’s no shortage of incredible musical sounds to soak up in, well, Music City.
Don’t miss the city’s famed honky-tonks that offer the charm of your favorite gritty dive’s subtle anonymity muddled with Hart of Dixie Rammer Jammer’s small-town hominess. Spotting that special someone across the bar and penning your name in eyeliner on a salvaged napkin from your double-whiskey coke? That’s the kinda stuff dreams are made of in this playful, flirtatious town. (Photo via Getty)
4. There’s a slew of awesome festivals. For sure, Music City works hard, but it also gets that whole work-life balance thing and knows how to play equally hard. From undiscovered talent crushing it in basement music dens for Tin Pan South, a festival celebrating songwriters, to sold-out arenas, you don’t even have to be a country music fan to find a dizzying array of beats you can get behind. Also, did we mention this year’s Antiques and Garden Show will feature none other than Goop queen, Gwyneth Paltrow, herself? P.S. If you’re missing the CMA Music Festival, well, you’re doing it wrong. (Photo via Music City Food + Wine Festival)
5. They have their own “Brooklyn.” The real BK? Pfffft. So 2015. Nashville’s own hub of free-spirited, hipster, creative-dreamland? Game on for the new year. Enter: East Nashville. Stop by Bar Luca, which strikes the perfect balance of classy meets approachable for a happy hour libation (the charcuterie boards and cheese plates will lure you in for a second round) or mosey around the walkable neighborhood filled with tucked-away shopping gems and epicurean havens. From vintage jewelry and furniture to small-batch chocolate, with eclectic galleries, eco-friendly shopping and vegan-friendly restaurants also in the mix, that lease-hunting may just get pushed up higher on your to-do list. (Photo via Andrea Behrends for Bar Luca)
6. Because Sam Hunt. Yep, he’s enough of a reason. He has played free, ears-still-ringing-the-next-day street concerts here. Thanks to Nashville’s small town and friendly vibe, you don’t need Carrie Bradshaw-status luck to wind up bumping into him at a local bar after his gig and capping your night with a phone brimming with selfies of you and the football player turned music dreamboat. (Photo via Rick Diamond/Getty)
Share with us: What will be your first stop in Nashville? Tweet us @BritandCo!
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