17 Crazy AF Statement Coats You Might Actually Wear IRL
Drastic temperatures call for drastic measures, especially when it comes to bundling up in the dead of winter. With cozy teddy coats and wow-worthy puffer jackets leading the pack, you’ve got plenty of options. Keep scrolling for 17 crazy AF winter coats we wish we had the guts to wear. Beyond providing the utmost warmth on the first mulled cider days of the season, they’re sure to command attention from afar.
1. Mira Mikati Nowhere Rainbow Puffer Jacket ($650): Walking on sunshine, TYVM.
2. Kurt Lyle Veronique Double Breasted Coat in Winning Roses ($396): Rock this eclectic rose-embroidered coat with striped trousers, socks, and mermaid hair en route to your 8am. Be forewarned: A DGAF ‘tude will follow.
4. Missguided Animal Print Padded Jacket ($111): Do RiRi proud with this animal-printed jacket that would look pretty dope with a Supreme logo sweatshirt and Moon Boots.
6. Topshop Checked Colour Block Coat ($210): Your run-of-the-mill glen plaid overcoat gets a contemporary update thanks to chartreuse color-blocked sleeves and a super mod silo. Werk it with a pair of Chanel lookalike glitter boots (you know the ones) for around-the-clock domination.
7. Mother Intarsia Long Boxy Jacket ($375): Rah-rah-rah, we’ve got team spirit! Score big with this fuzzy wuzzy varsity-inspired jacket that’s guaranteed to look something fierce with a slinky slip dress.
8. Civil Clothing Division Bomber ($130): It’s your civic duty to bring your A+ game on the streets, starting with a patch-covered camouflage bomber and heavy-duty stompers.
9. Mango Faux Fur Coat ($130): File this textured violet coat under what to wear when meeting your S.O’s parents for the first time. JK.
10. Zara Sequinned Coat ($119): With this shimmery sequined coat in your arsenal, you’re just one sparkly headband away from being ready for a Gatsby-themed fête or masquerade ball.
12. Opening Ceremony Re-Editions OC x Pendleton Flare Coat ($695): Come the first polar vortex, this Pendleton flared coat with Native American influence will be in heavy rotation alongside a toboggan hat and shearling mittens.
13. ASOS Statement Metallic Sleeveless Puffer Jacket ($79): You toasty marshmallow, you. This metallic pink puffer vest will have you channeling Zenon upon first wear.
14. Unreal Fur Reflections Jacket in Vintage Jacquard ($359): Old Man Winter, look what you made us do! Couple this fab vintage topper with a star-printed wrap dress and a gingerbread martini in hand for a hint of glam.
15. STAUD Corrine Coat ($525): STAUD’s got you covered with a majestic blue velvet robe-style coat that will accompany you from the bedroom to the boardroom (just add backless mules and a pajama-esque blouse for the latter).
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