Expert Tips for Picking the Perfect Paint Color
If there’s anything that can make or break a room, it’s the paint color — everything from narrowing down the perfect hue from hundreds of shades to, you know, the actual painting is a process. To help make the whole thing a little less overwhelming, we enlisted the help of Sarah Cole, the marketing director at Farrow + Ball for some much-needed guidance. The English paint and wallpaper manufacturer is one of the most trusted names in the biz, so you know these tips are legit. Before heading to Lowe’s, read her need-to-know advice.
Where to Start
“The key to choosing the perfect color for your home is to choose a color you love, and test it in the room where it will be used,” Cole tells us. “Think about the shape of the room, the architecture and the style you are trying to create. We always advise testing your color by painting a sample spot onto a piece of paper and putting it in different places in the room and at different times of the day so you can see how the changing light affects the color.”
Colors Affect Mood
“Cool grays with a blue undertone will create a very urban look while yellow-based neutrals create a pretty, country feel,” Cole says. “Calm blues and greens can create a relaxed environment, while rich darks will create a much more dramatic space.” Think about what you want the room to project before narrowing down the shades.
Tips for Living Rooms
Since the living room is where families spend most of their time, the color should be one that everyone truly loves. Forget the trends or bold color you see people using in magazines and think about what reflects your family. “Choose one that really fits your decorating style and makes the room one you will happily spend time in,” Cole advises. In other words, stop overthinking it.
Tips for the Bedroom
To give your boudoir a relaxing vibe, Cole recommends choosing a soothing color like watery blues and greens. Some of her favorite shades from Farrow + Ball are Teresa’s Green, Pavilion Blue and Pale Powder.
Tips for the Bathroom
Since bathrooms tend to be a smaller space, they’re great places to experiment with bolder colors. “Create a real impact and turn the bathroom into a cocooning space,” she says. Some colors she recommends are Brinjal, Hague Blue or Mole’s Breath.
Experiment Without Painting the Whole Room
Small touches of color can have big effects. Cole says a fun way to play with color is to paint a piece of furniture, like a dresser, in a rich color for a room that has mostly neutrals. If you’re an expert DIYer, you can even try using masking tape to paint stripes or patterns on furniture. Get inspired with these 16 dresser projects!
Got any of your own tips on picking the right color for the right room? Tell ’em to us 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:
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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