Shepherd’s Hut Inspo for Your Fantasy She Shed
Blame it on Pinterest and Instagram, but we’ve got a major case of she shed envy these days. Who doesn’t secretly desire a little backyard hideaway for gardening, writing, crafting and working? The latest she shed trend is making it even easier to have one in your own backyard, no power tools or mad carpentry skills needed. Shepherd’s huts are pre-built and have wheels for easy transportation. Just roll it on up the drive and through the gate, and voila! Your she shed dreams are about to come true.
1. At Home Away from Home: Picture yourself now, sitting outside your shepherd’s hut, complete with colorful bunting and cozy outdoor armchair. You can tuck this shed on wheels away at the bottom of your garden. It will be your secret place to spend a lazy afternoon. (via Laura Butler-Madden)
2. Glamping in Your Own Backyard: A bunting-draped shepherd’s hut sits amidst the trees, lunch bubbles away over an open fire and an ice cold G+T sits cupped in the palm of your hand. You’ve found your happy place. (via Jonathan Buckley/Home Shopping Spy)
4. Far from the Madding Crowd: This caravan is a reproduction of one found near writer Thomas Hardy’s cottage in Dorset. Originally used by shepherds as mobile shelters, the Victorians later turned them into artists’ studios or whimsical retreats. (via Seafield View)
5. Minimalist Caravan: Whether you use this for creative space or a nap station, it will make all your downtime peaceful. Style as a homey retreat or a more minimalist space for your individual style. (via The Chromologist)
7. 5-Star Glamping: Wondering if a hut’s for you? Try one on for size. You can stay in this shepherd’s hut that sits in a peaceful wildflower meadow, or just your backyard. A double bed, plump mattress and pillows and wood-burning stove make the stay more than just comfortable. (via The Old Grainary)
8. All-Seasons Retreat: More Swiss chalet than garden shed, some shepherd’s huts come complete with tiny fitted kitchens and wood-burning stoves. The view from those romantic French doors is just as inviting in winter. Are you typing away at your novel yet? (via House to Home)
9. Cabin on Wheels With Ocean Views: This caravan is quaint, with its curved roof, small door overhang and board and batten siding. But inside you’ll find a queen-sized bed, cozy couch and wood-burning stove. Enjoy watching the sun rise and set, while feeling like you’re the only two people on the planet. (via Tiny House Talk)
Are you drooling over these She Sheds? Follow us on Pinterest.
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:
You X Ventures for Unsplash
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.
Kobu Agency for Unsplash
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