9 Fun Ways to Celebrate Galentine’s Day With Your Besties
We’re strong believers in celebrating our gal pals. Sure, boyfriends and significant others are grand, but it’s our best friends who’ve been there through everything and still love us unconditionally. From late-night Skype calls to a thoughtfully curated care package, the best way to avoid a BFF breakup is to make sure you appreciate and support your bestie throughout the entire year.
That’s why we’re in love with the idea of Galentine’s Day. Created by Amy Poehler’s character Leslie Knope on Parks and Recreation, Galentine’s Day is a celebration of all things girlfriends the day before we get all lovely dovey with bae. So before you start munching on chocolate and cinnamon hearts with your S.O., here are nine fun ways to celebrate your lady squad this Galentine’s Day.
Host a DIY *everything* party.love a good DIY party — these conversation heart piñatas are definitely a must-try! Whether your creation looks like something out of Anthropologie or a preschool art class, you’ll have tons of fun getting your creating juices flowing while catching up with your BFFs.
2. Take a mini road trip without a GPS. Even if you don’t have a bazillion sick days to use, gather your gal pals for a few hours of junk food and killer tunes with a mini road trip. Simply get on the highway, turn off your GPS and let your sense of adventure be your guide.
3. Have yourself a fancy Skype date with your bestie. Just because you aren’t in the same city as your BFF doesn’t mean you can skip Galentine’s Day. Put on your fanciest OOTD (no sweatpants allowed!), and treat each other to a date night via video chat.
4. Do ALL the YouTube challenges. From the 100-layer challenge to highlighter-only makeup looks, find a handful of outrageous YouTube challenges and film you and your friends recreating them. Your videos probably won’t make it on YouTube, but you and your besties will definitely get a kick looking back at them for years to come.
5. Host a wacky-themed brunch. Whether you’re into punk rock literary figures or Disney sidekicks, have your besties dress up for a theme and bring a quirky potluck dish.
6. Invent new desserts with your BFFs. Even though there are TONS of amazing dessert recipes on the internet — these chocolate ring pops are amazing — tonight is all about creating masterpieces of your own. Hey, it’s impossible to make chocolate, candy, sugar and sprinkles taste bad, right?
7. Cozy up with a girlboss movie night. We get it: Sometimes all your schedule allows for is a cozy night on the couch. But because tonight is special, spice things up with a killer girlboss lineup, whether it’s a Melissa McCarthy binge sesh or a powerful selection of feminist documentaries.
8. Get literary and have yourself a mini book club. If you and your besties are avid bibliophiles, try hosting your very own one-night book club. We suggest picking a relatively short book — you know, so you still have time to catch up with your ladies. And don’t forget the vino and munchies!
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