Nothing symbolizes springtime quite like pretty pastels. Soft lilacs, baby blues, shades of pinks, pale yellow, and spearmint green were seen all over the Spring 2018 runways, including Céline, Victoria Beckham, Preen, and Hermès. Need a powerful office look? Try on a pair of lavender slacks. Want to add a cheery detail to your weekend wardrobe? Enter soft pink suede slides or a pale spearmint green purse. Style Salute has already started to fill their carts with all things perfectly pastel. Scroll down to shop their favorite picks below.
Elover Hollow Out Sleeve Cold Shoulder Winter Warm Pullover Cashmere Sweater ShirtÂ
Look no further for your next go-to top than this knitted option that looks just as fabulous with jeans as it does with a skirt.
Zatchels Handcrafted Pastel Leather Satchel Bag (British Made)Â
A sweet update to your wardrobe, this carryall will fast become your everyday purse. Wear it as a cross-body or over your shoulder.
Kancystore Floral Print Scoop Neck Short Sleeve Midi Pencil Slim Dress
Spring has sprung with this affordable pastel dress. Pair with a basket bag for a charming, laid-back look.
Floral Maxi Dress-Yellow V Neck High Waist Long Chiffon Beach Summer
Make a sunny statement in this season’s must-have floral dress. With a sexy deep v-neck, 3/4 trumpet sleeve, empire waist, and romantic ruffles it’s perfect for all your summer weddings.
Circus by Sam Edelman Stevie Heeled Sandal
Simple slides are an easy way to add a splash of color without going overboard. These comfortable sandals come in a variety of pastel hues, but we are drawn to this sorbet shade.
Bardot’s Lace Panel Dress
From bridal showers to brunches, this stunning lace dress works from season to season. Turn heads with the exposed lace neck and subtle exposed back.
Kissnova Soft Stretch Denim Mini Skirt With 5 Pockets Pastel Colors
At a time when ’90s trends are everywhere, grab a Saved by the Bell-era spring staple. This cool pencil mini is a perfect blend of soft cotton and spandex for a relaxed fit with no pinching or binding.
Converse x Tyler Golf Le Fleur One StarÂ
Designed as part of the Converse x Golf Le Fleur collab with rapper Tyler, the Creator, score these suede sneakers in three bold pastel hues: Bachelor Blue, Geranium Pink, and Jade Lime.
Meanor Loose Casual Ruffle Sleeveless Chiffon Top T-shirt Blouse
Meet your new desk-to-dinner blouse. Pair it with white jeans and heels or structured skirts for evening get-togethers.
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
