Closet Hacks: 15 DIYs to Tranform Your Hangers
With spring cleaning season come and gone, your closets are probably in good shape (and if you’re still a little late doing that, check out our closet organizing tips, um, ASAP!). So now is the time to think beyond organizing and toward adding personal touches to make your closet as beautiful as the things in it. So why not pimp your hangers? These 15 DIY ideas will transform your basic hangers into pieces worthy of the clothes they hold up.
2. DIY Weekly Clothes Rack: Inspired by the timeless elegance of Audrey Hepburn, these hangers are not only an ode to her iconic style, but also help you organize your outfits for the week. (via Bliss at Home)
5. Embellished Hangers: This may look like just a pretty embellishment, but the practical use is a genius bonus. Use crystal beads to keep your delicate camisoles and silks from sliding off the hanger. (via The Stylish Yogi)
6. Colorful Hangers: Although these hangers were only used as part of a styling tutorial, there’s no reason not to recreate this look at home. With some paint and paintbrushes or spraypaint, your hangers have gone from blah to bam! (via Design Love Fest)
7. Glitter Hangers DIY: This DIY was originally intended for children’s hangers, but we think yours are itching for some glitter, too! There’s even tips on how you can avoid getting glitter everywhere. Psh, glitter already is everywhere around here. (via A Bubbly Life)
10. Pearl Wedding Hangers: Using a similar technique, you can create beautiful and elegant pearl hangers for your most precious of clothes. Bonus: They make for beautiful wedding photos! (via Trendy Bride)
11. DIY Neon Nonslip Hangers: Is there anything worse than hanging up all your clothes and then coming back to find them in a puddle on your floor? These hangers are the solution to all your #organizationalproblems AND are fun to look at. (via Brit + Co)
14. DIY Neon Hanger: It takes a little patience to recreate this wild pattern, but while looking at neon colors and an eye-catching Aztec print, we can only think one thing: It’s totally worth it. (via Plan B)
What are some of your favorite ways to personalize your closet space? Let us know 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:
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