5 Travel Wardrobe Essentials According to Kate Middleton
Kate Middleton’s look has evolved over the years, and is always on point for whatever the occasion or season. After becoming a mom and spending a few years close to home with her babies, Kate is once again traveling the world in support of many charities and the royal family with her husband, Prince William, with whom she’s currently touring India. We love seeing what Kate wears, and it’s clear from this trip that she has her travel essentials down pat, complete with on-trend as well as classic looks. While she definitely needs to cover more sartorial ground than the average world traveler, we can all take some style notes from Kate’s suitcase.
1. The Midi-Length A-Line Skirt: This length is super flattering on the Dutchess, and just the right combination of trendy and classic. The versatile garment can be dressed up or down, and looks especially lovely paired with rose-nude shoes and a matching handbag.
— Narendra Modi (@narendramodi) April 12, 2016
2. Bold Color: Here’s that mid-calf length again, but this time in the form of a lacy mint dress. A bright pop of color and gorgeous detailing work for any number of occasions; one bold and modern outfit can get you in and out of almost any situation that might arise while on vacay.
— CBS News (@CBSNews) April 10, 2016
3. A Neutral Shoe: In all the photos we’re seeing of the Royal couple, Kate is rocking nude or black shoes. The wedge espadrille style shown here is perfect with a wide variety of looks, and wedges tend to be easier on your feet than heels.
— VANITY FAIR (@VanityFair) April 12, 2016
4. Strong Patterns: Just because Kate’s traveling doesn’t mean she shouldn’t take chances with her wardrobe. Kate’s very good at standing out in a crowd in any situation, but she fits in seamlessly while rocking bright big prints like the peacock-colored floral dress pictured here.
— Sujay Kumar (@Sujay721) April 12, 2016
5. A Great Pair of Statement Earrings: Traveling with too much jewelry can be daunting. If you decide on one statement pair of earrings that can be worn both on the beach and at a wedding, you’ll have one less thing to worry about. Think drop or dangling baubles in rose gold or silver — but nothing with too much bling.
What are your must-have travel wardrobe essentials? Tell us @BritandCo!
(Photo via Chris Jackson/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:
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