Your Monday morning water-cooler fodder is officially covered: The 73rd annual Golden Globe Awards has arrived in all its celeb-infused glory and, from the looks of these knock-‘em-dead red-carpet stunners? There’ll be plenty to talk about. With Ricky Gervais on hosting duty and everyone from BFFs Jennifer Lawrence and Amy Schumer to Laverne Cox and Zendaya in attendance, the stars brought some serious A-game this year. See for yourself with our round-up of 2016’s most carpet-slaying looks.
Laverne Cox
Girl, work. Laverne Cox KILLED the fashion game in this column dress from newcomer Elizabeth Kennedy with its breathtaking train, and her turquoise accessories were the perfect match to the stark white hue. From where we’re sitting, 2016 already looks amazing on this Orange Is the New Black favorite.
Rosie Huntington-Whiteley
Pictured here with Jason Statham, Mad Max: Fury Road’s Rosie Huntington-Whiteley is the sheer picture of old Hollywood glamour in her statuesque gold sequin Versace Atelier gown with bottom fringe detailing.
3. Ana de la Reguera: We love, love LOVED the floral appliqué on Ana’s deep purple gown with black mesh overlay. Her raven-hued locks and dark lipstick only added to her mystique.
4. Leslie Mann and Judd Apatow: Hollywood’s perfect power couple didn’t disappoint, with Leslie’s pretty-in-pink dress pairing perfectly with Apatow’s traditional tux. We love the contrast on this blouse-top with embroidered tulle bottom.
Jaimie Alexander
Maybe it was the plunging neckline, or maybe it was the geometric forest green print of Jaimie Alexander’s Golden Globes Genny dress, but whatever it was, it worked. The Blindspot actress was right at the top of the fashion heap.
6. Amanda Peet: Amanda Peet’s sheer, frilly frock was all about the high neckline, proving turtlenecks are back once and for all.
7. Zendaya: Zendaya was a vision in this deep burgundy tiered lace dream. Embroidery and her Marchesa gown’s plunging V-neck were the only accessories — save for a perfect pair of drop earrings — that the star needed to shine.
Jane Wu
Captain America: Civil War actress Jane Wu looked fabulous and futuristic in this silver stunner with embroidered detailing.
Gina Rodriguez
The Jane the Virgin actress looked like a fairytale princess in this off-the-shoulder deep blue Zac Posen dress — the perfect fit for her show’s sugary-sweet character.
Giuliana Rancic
The former E! News host brought the heat in this seriously sassy bright orange cut-out number from Mac Duggal. Between the bold hue, the cut-outs and those TDF draped sleeves, this is a head-turner to say the least.
11. Kirsten Dunst: We only have one word for our favorite ‘90s actress when it comes to her Golden Globes look: WOW. This very well may be, dare we say, the absolute best we’ve EVER seen Kiki look. She’s a Grecian Goddess in this velvet number with peek-a-boo chest. She knocked this look out of the park, and we think it’s a home run.
12. Maria Menounos: Rancic’s replacement kept things understated when it came to the dress in a simple curve-hugging cream number with a sweetheart neckline, but her chic side-braid was absolute perfection.
13. Kate Hudson: Kate has always been a master of all things boho, and the ’90s-esque wild-child sequined look she’s channeling tonight is no exception. Showing off her super-fit physique in this Michael Kors collection belly-baring two-piece, Hudson tops it off with a coordinating sequined choker.
Taylor Schilling:
OITNB star Taylor Schilling schools us all on how to look 100 in a pantsuit. This snazzy sequined two-piece oozes sex appeal while still keeping things classy, making Schilling a best-dressed contender.
15. Jennifer Lawrence: What would a best-dressed list be without America’s sweetheart, Jennifer Lawrence? Donned in custom Dior, J. Lawr’s look was on fleek, with strategic side cutouts and a metal collar neck piece.
Rachel McAdams:
star has Salvatore Ferragamo to thank for this beautiful floral gown. Keeping the focus on the sweetheart neckline, she goes with a simple, elegant upswept ‘do.
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