There comes a time in every It girl’s life where her tresses start to lose their luster and the meh factor takes over. Your haircare routine is #onfleek (duh), but your ‘do could use a little more oomph. As much as we love ’em, long layers, lobs and topknots get boring after a while. Luckily, we have the solution — 12 of them, to be exact. While our signature move is to look to celeb hairstylists when our locks need some love, we’ve decided to switch gears and gather inspo from a serious style source — the runway. Best believe that our findings — some of Spring/Summer 2017’s biggest trends — are straight-up stunning.
1. Accessorize: Tibi knows that when you’ve got a good thing going, it’s best not to mess with it. With that in mind, look to elevated and unexpected accessories to take a tried-and-true hairstyle to the next level. If a belt isn’t your thing, opt for a sleek, oversized barrette or a bright scarf. (Photo via Gamma-Rapho/Getty)
2. Best Messy: Let your inner lazy girl run wild a la Adam Selman with a messy AF ‘do that comes together in two seconds flat. We love the idea of dressing it up with a sleek suit and menswear-inspired kicks for the office or a slinky slip dress and statement faux fur coat for a wild night out on the town. (Photo via Gamma-Rapho/Getty)
3. Badass Buns: Ballerina buns have never really captured your attention — until now. Done in the style of Christian Dior with cornrow-esque braids in the back, the dancer-like ‘do is guaranteed to score you a few extra style points with your crew. DO pair with edgy accessories like a leather jacket and aviators to send those tough-girl vibes into overdrive. (Photo via Thierry Orban/Getty)
4. Severely Parted: If it’s good enough for Victoria Beckham, it’s good enough for us. This no-fuss look fares well with a variety of hair types and straight-up slays whether you rock it with big volume or slicked back and straight. (Photo via Estrop/Getty)
Wrapped Up
Alice + Olivia’s Spring/Summer ’17 presentation was serious hair #goals. While fishtail braids had our hearts a flutter, it was this elegantly undone style that us swooning hard. Choose a colorful, printed bandana for maximum impact and pull pieces out to achieve a romantic, free-wheelin’ vibe. We’re bookmarking this one for Saturday morning chillin’ and escapes to balmy locales. (Photo via Astrid Stawiarz/Getty)
6. Slicked Back and Shimmery: Clearly, clothing isn’t the only thing Marchesa knows about. Instead of your go-to updo for an upcoming gala or winter wedding, consider adding this seriously sleek style to your lineup. The streamlined aesthetic is undeniably modern, but the addition of an embellished comb or headpiece will usher the look into fancifully fabulous territory. (Photo via Estrop/Getty)
7. Anything-but-Boring Barrettes: Custo Barcelona proved that barrettes are where it’s at with this futuristic ‘do that toed the line between classic and cutting edge. Keep things sleek with streamlined accessories and slick, straight locks. Worried that the look will come off as severe? Stick with your hair’s natural texture to soften the aesthetic. (Photo via Rob Kim/Getty)
8. Twisted: You don’t have to venture entirely outside your comfort zone to test drive a new look. Take style cues from Supima and twist one section of hair around a low ponytail to create a runway-ready look that is more than worthy of your #OOTD. (Photo via Desiree Navarro/WireImage)
Dressed-Up
‘Do: Jazz up a half-up style like stylist Orland Pita did at Charles Youssef by curling the bottom section of hair, then dividing the top layer into three sections, which he then twisted into three petite chignons. Stunning. (Photo via Arun Nevader/Getty)
10. Folded Up and Ready to Go: This Creatures of Comfort look is crazy easy to recreate. Pull hair back into a low ponytail, loosely braid and secure. Fold the braid up, then wrap the ends around the base. It’s really that simple. (Photo via Ilya S. Savenok/Getty)
11. Au Naturel: Natural texture served as a counterpoint to the sleek, futuristic styles sent down the catwalk at Marchesa. Consider this your cue to put that straightener on the back burner. For an extra ethereal look, adorn your tresses with a shimmery clip or hairpins. (Photo via Frazer Harrison/Getty)
12. Beach Babe 2.0: No time to dry your hair? No problemo. Altuzarra proved at his Spring/Summer ’17 show that wet ‘n’ wild locks are just as wow-worthy as voluminous curls. The key to pulling it off? Lots of texture and a good hair shine spray. (Photo via JP Yim/Getty)
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