
It’s no secret that we love paper around here. Case in point… remember our Tissue Paper Tassel Garlands? How about our Wrapping Paper Flags? Or our Parchment Paper Envelopes? Those were epic. Well today my friends, let me introduce or reintroduce you to contact paper. You guys are going to be best friends… trust us! We’ve got 20 of our favorite DIY ideas to do with contact paper. So warm up that Pinterest page and get ready to be inspired!
1. Color-Blocked Toe Kick: Can we get a hallelujah? Holy Moses this toe-kick is incredible! Truth be told… this little number inspired this entire post! (via Oh Joy)
2. Jumbo Gold Polka Dot Wall: This wall would add just the right amount of pizzazz (how about that for a throwback word?) to an office, bedroom, or living room. It had us at gold. (via Lauren Conrad)
3. Wall of Triangles: We love the way the green in this Wall of Triangles ties in that phenomenal geometric gold and green pillow. This DIY project is done with vinyl, which can be easily swapped for contact paper. (via Oleander and Palm)
4. Chevron Serving Tray: This chevron serving tray is lovely indeed. It’s just the thing for serving up drinks or appetizers when hosting a party. (via Lovely Indeed)
5. Bright Polka Dot Wall: This would be adorable in a children’s room or in your own room! It’s a fabulous way to cheer up a space! (via Pillow Mint)
6. Black and White Geometric Embellished Bookshelf: IKEA hack alert! This DIY project might take you an hour… if that! (via My Second Hand Life)
7. Gilded Pet Bowls: Pets should be stylish too … don’t ya think? Have your pooch eat in style with these DIY Gilded Pet Bowls. (via Brit + Co.)
8. Embellished Kraft Notebooks: We are suckers for gorgeous notebooks around here, and these certainly don’t disappoint. Grab some washi tape and contact paper, and you are ready to begin crafting these beauties! (via My Second Hand Life)
9. Clothespin Place Card Holders: Proclaimed as the easiest place card holders you will ever make by Emily Henderson. I can totally believe it. These look like a sinch and are totally chic! (via Emily Henderson)
10. White Confetti Backdrop: We love the combo of kraft paper and white. This looks like a fantastic way to set off your next fête. (via A Bubbly Life)
11. Cloud Wall: Making clouds out of contact paper is so clever for a baby or kid’s room. And it has our heads racing as to what other use could be had from these cuties! (via Pillow Mint)
12. Ampersand Lazy Susan: This was done using vinyl. However, we think contact paper could easily be swapped out to make this lazy susan just as fabulous! (via Whipperberry)
13. Gold Striped Door: Oh Joy has knocked our socks off again on this list! This project is just a-door-able. (via Oh Joy)
14. Wood-Grain Laptop Wrap: Want to be the most hip gal at the coffee shop? DIY this wrap and you will surely win the prize, but don’t forget your skinny jeans! (via Fine & Feathered)
15. Black and White Washer and Dryer: We let out a collective gasp at Brit + Co. when we saw this washer and dryer! Talk about creative chops! (via A Beautiful Mess)
16. Room Divider: Seriously… how do you think of something like this? It’s hands down amazing. (via Apartment Therapy)
17. Gold Polka Dot Wall: This gold polka dot wall is subtle and chic. Note to self … it looks amazing next to a piece of furniture with a pop of color! (via The Homes I Have Made)
18. Wood Grain Chevron Wall: The nice thing about this project is it’s just manly enough to not cause a fight around the house. We love it, and we think your man will too! (via Apartment Therapy)
19. Resolutions Subway Art: While those resolutions are still in full effect, whip up this resolutions subway art with some contact paper, paint, and wood. Blogger, Ashley, also has a subway art pillow tutorial to match. (via Lil Blue Boo)
20. Rose Gold Dotted Wall: As much as we love gold around here, rose gold might be taking the lead these days. This wall looks adorable paired with a gallery of frames. (via Oh Joy)
Will you be making contact? Stick your thoughts in the comments below!
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