
Music makes the world go ’round, making us feel productive, inspired and energized. We’re huge fans of powerhouse music festivals like Coachella and Bonnaroo, except for when tickets sell out fast and are oh-so expensive. This year, try switching up your music game and experiencing an off-the-beaten-path festival for less. From coast to coast, we’ve uncovered the coolest of cool (from jazz to rock and everything in between). Grab your crossbody purse, killer fashion sense and trusty water bottle, and get ready to rock out to some sweet, sweet music.
1. The Ride Festival (Telluride, CO, July 11-12): The setting alone is worth the trip. With stages sprinkled throughout the breathtakingly quaint Telluride, you’ll never be bored with the nature, the beauty or the music. This year’s lineup has yet to be announced, but if it’s anything like last year’s all-star line up (Edward Sharpe and Spoon, just to name a few), you’re in for a festival you’ll never forget. Ticket prices have not yet been announced. (Photo via The Ride Festival Photo Gallery)
2. BottleRock (Napa, CA, May 29-31): Now in its third year, this wine-tasting/rock festival is like nothing you’ve ever seen. Drink from local vineyards and get your groove on to Imagine Dragons, feel empowered to No Doubt and drop it like it’s hot to Snoop Dog. There’s something for everyone at this festival. Plus, it’s in Napa, baby. Score single-day passes for $99 or three-day passes starting at $275. (Photo via OurVinyl.TV)
3. Sasquatch Music Festival (George, WA, May 22-25): What do you get when you mix Kendrick Lamar and Robert Plant with Modest Mouse and Lana Del Rey? One word: Sasquatch. With a setting to make all other locales jealous, this festival has been rocking out for 13 years now and consistently delivers incredible music mixed with nature. Tickets are $350. (Photo via Christine Mitchell)
4. High Sierra Music Festival (Quincy, CA, July 2-5): Located 80 miles northwest of Reno, this festival will bring out your inner flower child. With camping included in your ticket price, High Sierra will leave you with the ultimate music high. You can buy passes for $226. (Photo via Justin Halgren)
5. Strawberry Music Festival (Grass Valley, CA, May 21-25): The quaintest of them all, Strawberry Music Festival (how adorable is the name?), located near Tahoe National Forest, is for those that want way fewer people while relaxing to some eclectic bluegrass tunes. Camp among the trees and catch Bonnie Raitt as she headlines this dream-like festival. Purchase three-day passes for $205 or four-day passes for $225. (Photo via Save Strawberry Music Festival)
MIDWEST
6. Bunbury Festival (Cincinnati, OH, June 5-7): Situated right on the banks of the Ohio River, this three-day music festival is now in its fourth year. The lineup for this year includes Snoop Dogg, The Decemberists, Kacey Musgraves and more, totaling 50 acts on four different stages. Music addicts, this one is for you. Single-day passes go for $69, while three-day passes are $154. (Photo via Cincinnati Enquirer)
7. Basilica Block Party (Minneapolis, MN, July 10-11): A rock festival set with a gorgeous cathedral and the Minneapolis skyline as its backdrop, the Basilica Block Party knows how to leave you breathless. Started in 1995, this little festival has become a pretty big deal and also raises big bucks for the church’s restoration projects. We’re all for festivals with a cause. Ticket prices have not been announced yet. (Photo via @ofarevolution)
8. Summerfest (Milwaukee, WI, June 24 -28 and June 30-July 5): With a tagline like “world’s largest music festival,” you know this will be an epic time. Here are some numbers for you to absorb: 11 days over the course of two weekends, 11 stages, over 800 acts and nearly 900,000 other people just like you. We’re totally there. Single-day pass are just $19, while three-day passes cost $45. (Photo via Arizona Foothills Magazine)
9. Pitchfork Music Festival (Chicago, IL, July 17-19): This festival has love for the alt. rock genre but also makes sure to tune in to what other people want at a festival: more music. Wilco, Sleater Kinney, The New Pornographers and many more will satisfy any music craving you may have. Single-day passes are $65, while three-day passes go for $150. (Photo via TickPick)
SOUTH
10. Hangout Festival (Gulf Shores, AL, May 15-17): A beach of a music festival where shoes are totally optional and a swimsuit is a must. This year’s lineup includes Foo Fighters, Sam Smith, Beck… the list goes on and on and on. Plus, you really can’t go wrong with a festival that’s practically in the water. How cool is that? Tickets start at $249. (Photo via Hangout Festival Homepage)
11. Beale Street Music Festival (Memphis, TN, May 1-3): Music and Memphis go hand in hand. This festival (now in its 39th year) is held at the foot of historic Beale Street with the mighty Mississippi River as your backdrop. Three days, multiple stages and eclectic mix of music… what’s not to love? Tickets are $95. (Photo via Power 106)
12. New Orleans Jazz + Heritage Festival (New Orleans, LA, April 24-May 3): Get jazzed for this festival. The epitome of New Orleans life, Jazz Fest (as the locals call it) is a must-see at least once in your festival-hopping life. And don’t worry, there’s more than just jazz — Elton John, Pitbull, John Legend and The Who are scheduled to perform. Who’s coming with us? Tickets are $70. (Photo via David Grunfeld)
13. Wakarusa (Ozark, AR, June 4-7): Lounging in a hammock right next to your tent is the Wakarusa way of life. This year’s lineup of The Roots, Ben Harper, STS9 and then some will leave you dreaming of said hammock all night, every night. Score tickets for $179. (Photo via SEEN:imagery)
EAST COAST
14. Governors Ball (New York City, NY, June 5-7): Island life with a twist, this three-day festival takes place at Randall’s Island Park in Manhattan. From Drake and Florence + The Machine to The Black Keys and Bjork, you’ll get your festival fix with killer shots of the Manhattan skyline. A single-day pass costs $105 and three-day passes are $260. (Photo via Governors Ball Photo Gallery)
15. Firefly (Dover, DE, June 18-21): Labeled as the East Coast Bonnaroo, this festival takes place on 105 acres of wooded awesomeness. But people don’t just come for the music. They have a Beercade (which is exactly what it sounds like), a brewery, a hammock hangout plus stations to design your own one-of-a-kind Toms shoes. Think of it as summer camp with an adult twist, all for $249. (Photo via Firefly Photo Gallery)
16. Big Guava Music Festival (Tampa, FL, May 8-9): Craft beer, food trucks, rides — oh my. A festival that delivers entertainment beyond the stage, you’ll get to catch The Strokes, Hozier, Passion Pit and more whilst you hop from one attraction to the next. A single-day pass starts at $50, and a two-day pass starts at $115. (Photo via Branden Camp)
Which of these festivals caught your eye (and ear)? Did we miss your favorite? Tell 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
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