Basics are the building blocks upon which street-style-star wardrobes are built. And while basics have a reputation for being, well, basic, snoozy separates and accessories aren’t exactly going to get you noticed. Translation: It’s officially time to upgrade your closet essentials. And don’t worry: If vampy fashion trends and neon winter styles aren’t your thing, there are plenty of ways to turn heads without making a scene (think: sharp silhouettes, architectural details and cool twists on classic design elements). This week’s edition of The Edit has sights set on giving your arsenal of basics a boost, so ready that pointer finger and get to clickin’.
1. Pixie Market White Ruffled Sleeve Top ($82): Plain white tees are about to get WAY more interesting thanks to bold ruffles and a boxy silhouette. So what does that mean for your wardrobe? Basically, you never have to worry about your tee-and-jeans routine feeling sub par ever again. Day or night, this bad boy packs plenty of It-girl vibes.
2. Waven Johan Patchwork Longline Kimono Coat ($151): When you’re ready to shed your hot-and-heavy outerwear for layers on the lighter side, this patchwork stunner is your best bet. Layer it over printed flares and a rib knit sweater for a throwback look, or take it for a test drive with patent trousers and an edgy architectural bag.
3. Topshop Pleated Rib Knitted Midi Dress ($80): Hello, work dress of our dreams. Desk-to-date-night dressing becomes a cinch when you style it alongside sleek ankle boots and gemstone drop earrings. The only thing missing? An earthy smokey eye and berry pout that looks drop dead gorgeous day or night.
& Other Stories Neon Knit
stat. Go all-out by teaming it with a leather midi skirt and pumps for the office, or play it cool for off-duty shenanigans with patched denim and statement sneakers.
5. Zara Multiposition Leather Bucket Bag ($119): New year, new bag, baby. We’re big fans of pieces that know how to pull a little double duty, and this structural handbag is no exception. Whether you sling it over your shoulder or rock it as a tote, it’s guaranteed to take your ensemble to the next level.
6. H&M Conscious Straight Regular Jeans ($40): Denim is taking a trip down memory lane this year, so skip the skinnies and stick these classic straight jeans at the center of your ensemble. Dress ’em up with slingback pumps and a jacquard blazer, or dial them down for the weekend with a souped-up sweatshirt and faux fur coat.
7. Ãœterque Jumpsuit With Contrast Belt ($159): Your LBD days are officially over. Instead of blending in with the crowd, assert your sartorial prowess by stepping out in this scene-stealing jumpsuit again. Layer it over a simple turtleneck or sheer blouse RN, then rock it solo with a sharp pair of stilettos and a sassy red pout once the temps start to climb.
Charles & Keith Lace-Up Texture Heels
they are, but they must not have crossed paths with these bad boys, because, girl, they’re downright dreamy. And at $50 a pop, you can’t afford not to — come spring, their styling potential will reveal itself to be endless.
9. Reformation Sorrenti Pant ($178): Suiting stripes dominated the runway during the Spring/Summer ’17 shows, and we can’t think of a better way to slay those boss-lady goals this year than with these power pants on hand. Off-duty, they’re the perfect match for your arsenal of band tees and patent ankle boots, but they’ll straight-up stun at the office with a down-to-business blouse and a can-do ‘tude.
10. Free People Open Dolman Jacket ($148): A tailored black blazer can inspire that forever kind of love, but that won’t stop you from living life in technicolor. With pops of pink, this boxy dolman jacket is the hot ticket your work wardrobe has been missing. Expect to be the topic of conversation by the water cooler when you layer it over high-waisted trousers, metallic slides and sleek drop earrings.
11. Eri + Ali Mayfair Midi Skirt ($168): You really can’t fault a classic black pencil skirt, but we’d still rather wear this flirty tiered midi any day. Bust it out for date night, pairing it with chandelier earrings and a vintage clutch FTW.
12. Cluse La Roche Leather Strap Marble Watch, 38mm ($179): Despite good intentions to get to work — and just about everywhere else — on time, things just never seem to pan out. While a chic timepiece doesn’t actually guarantee you’ll change your tardy ways, the genuine marble and sleek leather strap on this sophisticated watch are just too good to pass up.
13. Mango Textured Wool Blend Coat ($120): A girl’s got to have options, right? Bright outerwear is the ultimate remedy to mid-winter wardrobe blahs and seemingly endless strains of gray days. This bottle green beauty is no different. Dare to be different by teaming it with bold neon hues or high-shine metallic pieces.
14. Urban Outfitters Futuristic Monocut Round Sunglasses ($24): Rims are overrated. Usher your throwing-shade game into cutting-edge territory by adding these monocut sunnies to your sartorial routine, stat. The only thing missing? A don’t-mess bomber jacket and patchwork denim.
15. COS Shirt With Lace-Embroidered Hem ($99): Put that style know-how on show by putting this embroidered button-down at the heart of your on-the-job #OOTD. The graphic nature of the lace panel lends an otherwise understated piece an ultra-modern feel. Further the fashion-forward vibe with ankle trousers and flatform Oxfords.
16. Zara Tri-Color Ballerinas ($26): Laying low doesn’t have to mean saying sayonara to your style. Slip on these color-block ballerinas for an early morning coffee date or an afternoon of errand running and watch as everything from joggers to bohemian maxi dresses take on a street style-approved edge.
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
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