How to Make a Confetti Clutch to Complete Your New Year’s Eve Look
Now that Christmas planning is officially over and the gift giving has come to a halt, it’s time to start planning your New Year’s Eve outfits! We’re huge fans of the glitz, glam and anything sparkly (check out this DIY disco ball skirt) so it’s the perfect time to throw some confetti and celebrate. This year, bring the confetti with you wherever you go with this confetti clutch. This project takes a bit of sewing knowledge, but it’s great for beginners. Grab the party poppers and disco balls, you’re going to need them for this DIY!
– clear vinyl
– thin leather fabric
– white thread
– sewing machine
– sewing pins
1. Cut out two pieces of leather and piece of vinyl in the size you want to make the bag. Leave 1/4 inch for seam allowance.
2. Put one piece of leather and one piece of vinyl on top of one another and sew the zipper, pull-side down, to the top. Take the other leather piece and sew it to the other side of the zipper.
3. Flip over the zipper so the pull is facing upright and sew a top stitch along the edge of the bag.
4. With the bag inside out and the wrong sides of the fabric together, sew 2/3 of the remaining open sides. Use the last open side to pour and sandwich the confetti between the vinyl and the leather.
5. With wrong sides together still, sew the last remaining open side. Turn the whole bag right side out and rock it with your NYE look!
When sewing on the zipper, make sure your vinyl and leather are lined up perfectly so the bag doesn’t end up being crooked. Use pins or tape if you need to to keep the fabric from shifting while sewing.
The top stitch on the outside of the bag is important to help keep the zipper area from bunching up and to keep it lying flat.
Add as much or as little confetti as you want to the inside of the vinyl before closing off the last edge and finishing up the bag!
Put on your sequin dress and get ready for a night full of sparkle!
How hot is this for NYE? Share your NYE looks with us on Instagram using the hashtag #iamcreative.
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