15 Floating Shelves That Make the Most of Your Space
What do you do when you have a little extra wall space and lots of stuff to store? Install some floating shelves, of course! These 15 options are great for small spaces because you can stack them as high vertically as you can reach. And most of them have such a small profile that they won’t make your home feel cluttered. Looking for something more substantial, but still just as airy? Go for open shelving instead.
1. Umbra Conceal Invisible Floating Bookshelf ($15): The ultimate floating shelf, this clever design makes it appear that you have a stack of books just floating on your wall. You can also get the double stack version here. Or get more inspiration for storing your books.
3. Stone Resin Wall Shelf ($20): Get the look of stone slab shelving without the weight. These polyresin “bricks” are much easier to hang.
4. White Floating Honeycomb Shelves ($95 for three): Arrange these reclaimed plywood shelves in any configuration you can dream up. We love ’em stacked or in a more organic configuration.
5. Triton Steel Locking Pegboard Shelves ($46 for two): If you have pegboard already set up in your kitchen or workspace, you can easily add these brightly painted steel shelves. And if you don’t have pegboard, what’s stopping you?
6. Bin There Done That Wall Book Bin ($69): Yes, this is technically designed for a toddler’s room, but we think it’s a great way to keep your most recent magazines if you’re against coffee table clutter.
7. Floating Shelves Upcycled Cedar ($55): If you want something a bit more rustic, and cedar scented, this is the shelf for you.
8. Triple Decker Shelf ($34): If you want three shelves for the price of one, consider this tiered version. We think it would be great for a little extra storage in the bathroom.
9. Reclaimed Wood Shelf + Black Basic Brackets ($78-98): Available in either 3-foot or 4-foot segments, these reclaimed wood shelves are perfect for storing your favorite cookbooks, or a few kitchen utensils you use everyday.
10. Connect Blue Cube Shelf ($30): You get two shelves in one with this cube fixture. It’s perfect for keeping a few supplies hidden, like matches for the candle you set on top.
11. Benchwright Shelf ($299): This 5+ foot textured, mango wood shelf can stand in for a mantel if you don’t have one in your home.
12. Pallet Free Floating Shelves ($55): Another good use of shipping palettes, floating shelves in a walk-in closet, or a nook that you’re pretending is a walk-in closet.
13. Set of 3 Floating Shelves ($100): Arrange these raw iron shelves in any configuration you choose. We’re partial to some sort of overlap to make them feel more connected.
14. Crown Molding Picture Ledge ($24-$39): Mimic your traditional decor to store your photos with these simple picture ledges. They are available in black or espresso.
15. Modern Wall Shelf ($22): Add a few pops of color to your decor with these simple shelves. We love the look of three colors stacked together.
Do you have floating shelves in your home? Tell us what you stash on them in the comments!
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