Let's be honest, there are very few things in life that feel as good as snuggling with your pillow in a comfy, cozy bed. And some of us out there who prefer the feeling of drifting off into a pleasant slumber to anything else in the world. Since so many of us are sleep deprived these days, those precious moments you can get some well-deserved shut-eye should be enjoyed to the fullest extent. If you (or someone in your life) really know how to indulge in a quality night's sleep when possible, take a look at some of these relaxing products that will make catching z's all the better.
Ekouaer Long Sleeve Pajamas
Coziness doesn’t begin and end with your bed. Any sleep aficionado knows that the right pajamas, like this classic button-down set, are key to a good slumber.
Pukka Herbs Organic Night Time Herbal Tea
Soothing and relaxing oat flower, lavender, and lime flower are an excellent blend for lulling you into a peaceful night of rest. Just brew, sip, and sleep.
Pluto Pillow
Sure, there are lots of good pillows out there, but this one is totally customized to your sleep style. Simply fill out the online profile and you’re well on your way to having a high-quality pillow that’s made just for you. And it’s guaranteed for 100 nights, so if you don’t love it, you can send it back.
HC Collection Bed Sheets Set
With deep pockets and double-brushed microfibers, these sheets are practically guaranteed to give you a non-bunching, non-scratching, hotel bed-esque night of sleep.
CozyPhones Sleep Headphones
Are you one of those people who simply can’t get to sleep without music, a guided meditation, a podcast, or just some white noise? You’re in luck. Because these soft, comfortable headphones let you drift off to sleep listening to your favorite sounds without disturbing your partner. It’s a win-win for everyone.
Armi Tee image “I’d Rather Be Sleeping” Sweatshirt
Look, your friends and family should know you well enough to know this: No matter where you are or what you’re doing, you’d still rather be snuggling under the covers. Not only is this sweatshirt an amazing wardrobe choice for Lazy Sundays, but it also expresses how you truly feel about life.
Big Red Rooster White Noise Machine
Some soothing white noise or even some atmospheric sounds like rain, thunderstorms, the rainforest, or rolling ocean waves are sometimes all you need to turn off your brain and snooze away.
Slip Silk Sleep Mask
Finding the right sleep mask can be tricky. Not only do you want to block out sleep-disturbing light, but you also want to wear a fabric that’s light enough to stay cool and comfortable all night. This silk mask is just the ticket for hot sleepers who need some quality beauty rest.
HoMedics Total Comfort Cool Mist Ultrasonic Humidifier in White
Drop a little essential oil into the water in this cool mist humidifier and you’re well on your way to Snooze Town. You can also use this humidifier with water alone to keep your bedroom climate just right for sleeping.
Sloth Slippers
What is a sleep lover’s favorite animal? The sloth, of course. Pay homage to your personal Patronus with these soft, comfortable, and irresistibly cute slipper socks that you won’t want to take off.
The Sleepy Cottage Breakfast at Tiffany’s Sleep Eye Mask
Holly Golightly knew the best way to fight off the “mean reds” is to get as much beauty sleep as possible. And no one had quite as much sleep style as the glamorous Breakfast at Tiffany’s character, so why not take a siesta in this beautiful Tiffany Blue sleep mask?
Huzi Infinity Pillow
Sometimes you can’t always get home to enjoy a restful night’s sleep. When you’re on the road, enjoy a peaceful slumber (even in a packed airplane) with this adjustable travel pillow. It’s not only easy to use but also easy to carry with you.
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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