Get ready to jet-set, ladies. PBteen just launched another fabulous collection with designers Emily Current and Meritt Elliott, and this one is taking you to the beaches — or cabanas. Their first ever spring break line is everything you could expect from the stylish duo. Think: classic hotel decor with a whimsical twist in a collection that features bedding and decorative accents, plus outdoor and travel accessories. The line radiates playful glam and is suited for more than poolside style. Scoop up pieces for your upcoming getaway, bachelorette vacay, or a fab stay-at-home decorative refresh. Keep scrolling for our faves from Emily and Meritt’s haute new PBteen collection, then drift away to your tropical sanctuary.
The Emily & Meritt Decorative Pillows
Pineapples, scallops, and polka dots, oh my! These decorative gems are just what your room needs for a seriously oasis-approved update.
The Emily & Meritt Bags & Luggage
Showcase your adventurous spirit as you jet off to your coastal vacay in style. These prints are definitely fashionista-approved and ready to travel. The more of these glam bags you buy, the more stylish goodies you can bring along!
The Emily & Meritt Sunglasses Holder
Now you can display your sunnies like the curated collection they are with this durable, glam stand. Keep dents and scratches at bay so you’re always ready to hit the beach and bask in the sun.
The Emily & Meritt Beach Lounger & Sun Shade Tent
Here’s the ultimate way to spend long days in the sun sans the sunburn. The stripes on this mini cabana add a vintage-glam look to this lounger. Bonus: It’s waterproof for the poolside queen.
The Emily & Meritt Pillow Cave Chair
Sneak away from the sun-soaked fun to cozy up with a favorite read in this chair. We’re totally digging the shape — and boho look — that this seat brings to the party. Plus, you’ll love how comfortable it is. Translation: You may end up reading there all day.
The Emily & Meritt Pineapple Lamp
Take the tropical vibes inside your home with this gorgeous, gilded pineapple. We have major *heart eye emoji* for this fab accent piece. We’re positive this would be a great addition to your end table or office desk (or both, obvs!).
The Emily & Meritt Cabana Stripe & Duvet Sham
There will be no bad days here with this bedding set. It’s so crazy-cheerful you’ll prob never wake up on the wrong side of the bed again.
The Emily & Meritt Mermaid Throw
This pick is what our childhood, mermaid-loving dreams are made of. Get excited to bring out your inner sea goddess with this gold throw that comes complete with a tail. It’s bound to keep you comfortable and feeling like Ariel long after the pool closes.
The Emily & Merrit Scalloped Storage Bins
These storage bins will add some serious whimsy to your home decor or beach babe game. With two sizes to choose from, they can be used a ton of ways, ranging from sunscreen storage to a quick towel toss-away.
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