Step into Spring With These 15 Transitional Coats
If you’re like us, the recent arrival of spring already has you thinking about which key pieces you should add to your wardrobe for the season. A new midi, a sundress or a fresh pair of wedges, perhaps? We’ve waited months to see sunshine and flowers, and can’t wait to finally sport bright colors and prints as the weather gets warmer. But what about those tricky days when the clouds roll in and raindrops pour, or the ones where it’s nippy in the morning and scorching by noon? Cue the transitional coat. We found 15 of the most fabulous and functional coats to help you keep up with the changing temps and wonky weather, all while staying super stylish.
1. Via Spiga Color Block Trench ($239): We love that you could keep this jacket on all day and still be rocking an outfit. The pleated color blocking looks like a flirty spring skirt.
2. J. Crew Cotton Peacoat ($188): We typically see peacoats in fall, but this pick is made for spring. It’s lightweight, tailored and boasts a loud orange hue we’re proud to rock this season.
3. Penfield Summer Anorak ($113): The perfect option for those kind of rainy, kind of windy in-between days.
4. Mango Contrast Piped Mac ($132): This trench is a twist on an old classic. Mix things up a little with the contrast between tan and black and some fun piping.
5. Kate Spade Franny Coat ($358): Sail into spring with this bold, nautical pick. The added bow on the back gives it the girly touch we know Kate Spade is always good for.
6. Coat With Pockets ($159): Sunshine in the form of a coat. Oversized pockets and exposed zippers add a funky feel to this simple, sunny piece.
7. Cole Haan Leather Trim A-Line Coat ($395): Keep it simple with this fiery red choice. The brown leather accents on the collar and pockets break up the solid color and a-line shape.
8. YMC Spring Coat ($195): Don’t diss the toggle. This jacket is way trendier than the one you might have worn as a kid with your light-up sneakers.
9. Rainy Day Mac ($178): Pink, blue, yellow and gray have never looked so good together. We’d wear this upbeat trench rain or shine!
10. J. Crew Downtown Field Jacket ($148): Versatility is this jacket’s middle name. We see this as an option you can wear during the day or out at night, casual or dressed up.
11. French Connection Tulip Body Coat ($198): There are few things in the fashion world more wonderful than mixed media pieces. This leather-accented trench is even shaped like a tulip, so we know it’s perfect for spring.
12. Wavey Loose Spring Coat ($115): Bright pink and ruffles? Wavey loose spring coat for the win.
13. Color Block Trench Coat ($100): Not ready to adopt the colorful palettes of spring quite yet? This simple black-and-white color block coat is a solid option that will still keep you warm and covered, without the bulk.
14. Fitted Coat ($50): We admit this jacket would require us to be careful of coffee spills, pizza stains and dirty car doors, but we’re definitely willing to take the risks for this fabulous fitted look.
15. Spring Parka ($158): Stay dry and adorable on a wet spring day thanks to Boden. We think these tiny polka dots are just plain precious.
Which transitional coat do you see yourself weathering the changing seasons with? Let us know in the comments below.
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