
It’s tough to go against the grain. Society has any number of unwritten rules, and it takes a lot of courage to break them. This week’s book club features collections of personal stories and essays that buck the trend and show what it means to stand up for your convictions. One woman writes a brutally honest takedown of cancer clichés, mental illness and her unconventional relationship with her sort-of adoptive mother (who just happens to be a Nobel Prize-winning author herself). Another woman refuses to follow the traditional reality show (or life) narrative, that all a woman needs is to find a handsome prince. A third insists that you can love yourself (and the way you look) no matter what the world says about your size.
1. In Gratitude by Jenny Diski ($19): When Jenny Diski was diagnosed with inoperable lung cancer in 2014, she decided to write about it. Diski, who sadly died in April shortly after her book’s completion, is perhaps best known for her thoughtful and spare fiction, as well as her regular contributions to the London Review of Books, which formed the basis for essay collections and memoirs. She’s also known for a long history of not flinching away from the difficult subjects; her books cover depression, drugs, sadomasochism and rape in their own ruthless prose. “I am and have always been embarrassed by all social rituals that require me to participate in a predetermined script,” writes Diski.
In this vein, and unwilling to focus solely on the cancer or end-of-life platitudes, she instead found she had a different, untold story to explore: the years she spent with author Doris Lessing, who took her in at age 15. Lessing would shape the rest of her life, particularly as a writer, and introduced her to a fascinating literary world. “When she died last November at the age of 94, I’d known Doris for fifty years. In all that time, I’ve never managed to figure out a designation for her that properly and succinctly describes her role in my life, let alone my role in hers.” Diski explores that role, and her lifelong relationship with the brilliant writer and unabashed feminist, while facing the last few months of her life.
2. It’s Not Okay: Turning Heartbreak into Happily Never After by Andi Dorfman ($15): Reality TV might be a little less literary than Doris Lessing, but it’s impossible to deny the impact it’s made on our culture, promoting the “virtues” of scheming, quick fixes and instant gratification. Most of us are guilty of dipping into the Reality TV well once in a while, even if we know the “reality” is often scripted and manufactured to create the highest amount of drama. One of the most addictive shows out there is The Bachelor, and its sister show, The Bachelorette, which put forward the idea that true love can be found simply by weeding down a slate of suitably attractive applicants. Real reality, however, is a little more complicated.
“Seriously, you have nothing to lose.” “Um… except my dignity.” Lawyer Andi Dorfman became famous on season 18 of The Bachelor when she did the unthinkable: As a contestant for bachelor Juan Pablo’s love, she instead rejected him, highlighting his poor behavior and leaving the competition on her own terms. The unexpected nature and popularity of this action resulted in her being offered the lead role on the 10th season of The Bachelorette. This time, she chose contestant Josh Murray, but eventually rejected another “fairy tale” romance, later calling off the engagement. In It’s Not Okay, Dorfman dishes about her time on both shows and her fellow contestants, some of whom remain her good friends (another surprise in the cutthroat reality world).
Dorfman hopes her story will help her readers with their own trials and breakups, as well as providing juicy gossip. “I couldn’t believe they even watched these crappy dating shows, let alone think that I would be the type of cray-cray who would actually go on one,” she says of her friends’ advice. Little did she know she’d be on two. Let’s hope her advice is better.
3. Shrill: Notes From a Loud Woman by Lindy West ($17): Lindy West is a fabulous woman who lets the haters know she’s not going to deal with any of their body-shaming garbage. She’s a passionate advocate for social justice, a pop culture maven and an outspoken writer with an acid wit. You may have seen her work published in Jezebel, GQ or The Guardian, or heard her on This American Life.
Shrill: Notes From a Loud Woman is a collection of essays on topics of great personal meaning to West, the title pushing back at a common insult levied at women who dare to speak their minds (particularly women who aren’t rail-thin or economically or racially privileged).
In a world where so many women have been silenced, threatened or “doxxed,” Shrill is a refreshing clarion call from a woman who learned to wear her ideals on her sleeve, and to bravely fly her own flag. Even Lena Dunham says that “her talent and bravery have made the Internet a place where I actually want to be.” Essays leave few targets unscathed, and include “Are You There, Margaret? It’s Me, a Person Who Is Not a Complete Freak,” “You’re So Brave for Wearing Clothes and Not Hating Yourself!” and “It’s About Free Speech, It’s Not About Hating Women.” Caitlin Moran calls it “literally the new Bible,” and Ira Glass admires West as “a totally entertaining and original writer.” Considering West once had to view a cross-dressing male cartoon bear as her only positive fat “female” role model, it’s about time to listen to her voice, shrill or not.
What books make you speak up? Tag us in your next powerful read @BritandCo.
(Featured image via Andi Dorfman)
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