21 Last-Minute Graduation Gifts Every New Grad Will LOVE
That time of year is rolling around once again. Graduation party invites are showing up in your snail mail, grad caps are being thrown and the new grad in your life could *not* be more excited. Sometimes (err, every year), those ceremonies and celebrations creep up on us super quick, and suddenly you’re in need of a gift STAT. While we’re huge fans of giving a DIY graduation gift, working with a last-minute schedule usually means you’re headed straight for the cash-in-a-card gift. Skip the #basic option this year, and go for something that’s totally unique, but also easy to get your hands on. Take a peek at some of the best eleventh-hour gifts that are sure to beat a bill slipped in an envelope.
1. Rifle Paper Co. Weekly Desk Pad ($12): It’s time to give the old agenda a chic upgrade. Snag this weekly notepad so your grad will go into the real world feeling ultra organized.
2. ban.do I Am Very Busy iPhone 6/6S Case ($20): This iPhone case is perfect for the grad that just landed their first job. The nine-to-five schedule is going to leave them feeling like this case pretty much sums up their life.
3. Craft Boner Crushin’ It Felt Pennant ($12): Give them a boost of motivation with this felt pennant. They’ll thank you when they need to fill up all that wall space in their new apartment.
4. Adidas Patterned Backpack ($40): The backpack they’ve been carrying around for four years (or more!) is ready for a replacement. Help them get rid of their old JanSport by gifting this colorful Adidas backpack.
5. Prynt Inkless Photo Printer ($150): Yes, you read that right. You can now print instant photos from your iPhone, which is just what your graduate needs so they can document the next phase of their life.
6. DENY Designs Geometric Cutting Board ($35): TBH, you can never have too many cutting boards. Add this geometric wooden option to your cart to congratulate the new grad and upgrade their kitchen accessories at the same time.
7. ban.do Blah Thermal Mug ($14): Make the grad’s new early morning commute a little easier with this adorable mug that’s *anything* but blah. The only thing they hear before their AM cup of joe is probably “blah blah blah” anyways ;)
8. Rifle Paper Co. Everyday Pencils ($12): Writing to-do lists is *way* more fun and exciting when you can jot it down with pretty pencils. Snag this patterned set so they can write in their agenda in style.
9. SKEYE Mini Drone ($99): If your graduate hasn’t quite found a job yet, they’re going to have a little extra time on their hands. Pick up this mini drone to fill up their free time STAT.
10. Umbra Hanging Photo Display ($24): Just because they graduated doesn’t mean they can’t still hang pictures of their college besties. Pick up this hanging photo display so they can reminisce about the good old days.
11. Kate Spade Dipped Initial Journal ($16): When one
door journal closes, another opens. Upgrade your graduate’s notebook selection by adding this color-blocked initialed option to their stash.
12. Nashelle Monogram Swing Necklace ($48): Give your grad a little bling on their big day with this modern monogram necklace. Its simplicity makes it the *best* addition to any outfit, but the unique font ensures that it’s different from the monogrammed jewelry they already have in their collection.
13. DENY Designs Colorful Wall Tapestry ($49): Since they’re moving on to the next chapter in their life, upgrading their apartment is totally necessary. Opt for this tapestry that will add a serious punch of color to their currently-blank walls.
14. Intro to Travel Photography Online Class ($39): For the one that’s doing a little soul searchin’ abroad after graduation, opt for this photography class. They’ll learn the ins and outs of travel photography, so when they get back, you’ll get to see some seriously epic pics.
15. Kreafunk aHead Wireless Headphones ($145): Every techie needs a cute pair of wireless headphones. Go for this ultra chic pair so they can toss that only-kind-of-working pair of earbuds in the garbage.
16. Kate Spade Stamp Dot Wallet ($100): A colorfully patterned wallet with oodles of storage is exactly what a new graduate needs. This slim option is the perfect alternative to the pocket in their backpack they’ve been using for the past four years.
17. Ringly Rainbow Moonstone Smart Ring ($195): Step aside, Apple Watch. There’s a new stylish wearable in town. Your bestie will never miss another important call or meeting again, because this smart ring syncs with the Ringly app so they’re notified every time something comes up.
18. DIY Agate Slice Coasters Kit ($39): Chances are, your graduate is getting ready to move out of their college apartment and into their first adult space. Purchase this DIY coaster kit to give their new home some character.
19. Anthropologie Rainbow Tufts Basket ($20): For a new apartment, updated organization is *definitely* necessary. Help them keep their space in tip-top shape with these colorful baskets that they can use for odds and ends.
20. Motivational Wall Art ($4): This printable wall art is your answer to the ideal last-minute grad gift. Simply DL the print, stick it in a fun frame and wrap it up. It’s *that* easy to give the best gift.
21. 11+ USB Mini O-Fan ($50): A new workspace calls for some new desk accessories. Add this USB mini fan to their office so they can get through working at an A/C-less office during the summertime.
What are you giving the grad in your life? Follow us on Pinterest for even more gifting inspo!
Brit + Co may at times use affiliate links to promote products sold by others, but always offers genuine editorial recommendations.
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