The Conversation
Nothing says the holidays quite like sparkling wine. Champagne experts, prosecco lovers, or brut rosé kind of gals — listen up, we have an effervescent option for you (in a range of price points). Opt for the ease of a can, a limited-edition holiday set, or a personalized bottle of bubbly, and get ready to say "Cheers!" in style.
Domaine Paul Buisse Crémant de Loire ($15): Made in the traditional method of Loire Valley Champagne, this Crémant de Loire pairs well with cheese and charcuterie and is an ideal pour all season long.
Bollinger Limited Edition Brut Rose in Metal Gift Box ($150): Try and find a more gorg sparkling rosé than this... we'll wait. Seriously though, this salmon-pink vintage rosé will win you over with flavors of warm spice, chocolate, dried flowers, and mandarin peel.
Underwood Bubbles ($15): Straight outta Oregon, Union Wine Company's The Bubbles (in a bottle versus the company's usual cans) tastes like ripe citrus, tropical fruit, and white flowers. It's meant for cracking open on fancy holiday occasions or game days when you just can't with beer.
Yes Way Rosé Bubbles ($15): One of our fave rosé brands, Yes Way Rosé, a female-founded winery in the south of France, just released a bubbly version for the holidays. The best news is that you can find it at Target! What's not to love?
Ferghettina Milledi Brut ($65):
Notice something a bit different? The bottle's unique square base allows the yeast to have more contact with the wine for more flavor and aroma. And obviously a badass effect.
Veuve Clicquot Colorama Collection ($60+): A true Champagne enthusiast will appreciate Veuve Clicquot's holiday set in the form of its Colorama Collection. Choose from a Yellow Label or Non-Vintage Rosé in a paint tube-enclosed case that will keep cold for two hours.
Champagne Henriot Brut Rosé ($75): This brut rosé is an expert blend of chardonnay and pinot noir — and the result is 100 percent drinkable and pleasing to the palate. Be prepared to keep more than one of these bubbly babies on ice throughout your night.
Archer Roose Prosecco 4-Pack ($16): What could be more convenient than sipping sparkling beverages from a mess-free, travel-friendly can? Archer Roose's craft bubbly is comprised of 100 percent Glera grapes from Veneto, Italy. PS In need of an under $20 Secret Santa or Yankee Swap present? Consider your dilemma solved.
Chandon California x BaubleBar Holiday Collection ($24 per bottle; $48 for the necklace): Chandon California teamed up with accessories brand BaubleBar to create the must-have limited-edition sparkling set of the season. The party-ready Chandon brut and rosé bottles have been reimagined and wrapped in glam designs. BaubleBar has also created a #ChandonSquad necklace, complete with Chandon’s iconic star to wear with flute in hand.
Champagne Nicolas Feuillatte Réserve Exclusive Brut NV ($36): Aged for a minimum of three years, Feuillatte’s Brut Réserve NV is a delicate fruity Champagne. This year, they're offering an Enchanted Meadow bottle and Wonderland Tin, so you can be that party guest who brought the pretty contribution.
Moët & Chandon Imperial Brut ($50): This one's a beloved classic that you can suss up if you happen to be in the New York City area between December 23 and January 1. Stop by the Champagne personalization machine at Grand Central Terminal, where you can have a text or a handwritten message transcribed on a bottle to give to your fave Champs drinker. #GiftGoals
ONEHOPE Naughty & Nice Celebration Brut Wood Gift Box Duo ($150): This gift set comes with two glitter-coated bottles of California Celebration Brut Sparkling Wine in both red and white for a naughty indulgence that tastes very nice.
Champagne Laurent-Perrier Cuvée Rosé ($100): Always a winner in our book, this Cuvée Rosé has cheerful red fruit aromas, delightful bright berry notes, and that lovable rose-colored hue.
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More From Cocktails
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