What Really Happens When You Stab Your iPhone With a Knife
Remember in middle school when you had to tote around a sack of flour or a little egg with a Sharpie smiley face on it? Back then we thought we were prepping ourselves for motherhood in an admittedly weird way, but now we know — we were just gearing up for the responsibility of having to carry around our most important info on a very breakable glass brick at all times. The practical iPhone users among us (as well as those of us who cracked an egg-baby way back when… and then our smartphone screens just last weekend) have had “more durable screen” on the top of our iPhone 6 wish list, and now a new video shows just how durable that piece of protective glass could be.
He stepped on it, tried to bend it, scratched his keys on it and stabbed it with a fairly scary knife — and that bad boy held up well under these everyday pressures.
But as Marques explains in his latest video, knives and keys aren’t actually that hard when you compare them to sapphire glass so yeah, they shouldn’t scratch or dent it. To see what the iPhone 6’s rumored new screen can truly withstand, Marques busts out the Mohs Scale of Hardness and puts it all into perspective.
Since sapphire is the second hardest naturally occurring material on Earth, we need a better test to put it through than just the delightfully dramatic stab test. In this seven minute video, Marques uses two different types of sandpaper on iPhone 5’s Gorilla Glass screen and its home button (which is made of pure sapphire) and then on the iPhone 6.
The iPhone 6 display proves to be harder than Gorilla Glass, which means it will put up with even more wear, tear and tumbling around in your purse or pants. Since the iPhone 5’s home button stood up better to the sandpaper than the iPhone 6 screen, it looks like the 6 is made of a sapphire blend. A pure sapphire screen would bring up the price on that upgrade and not be flexible enough to give your phone the slight bend that it needs — so this is good news.
Watch to the end of the video to really see whether or not the iPhone 6 screen is breakable when it’s put to the ultimate test, the crossbow test. #ow
Is having a more durable screen on the top of your iPhone 6 wishlist? What does your current smartphone screen look like? Share 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