
Summer 2015 was officially the summer of the “ugly” sandal. Birkenstocks, Tevas and slide sandals were the fashion-girl styles of choice, turning what we once considered mom footwear and shower stall slip-ons into #OOTD-worthy steppers. This fall, three new “ugly” styles are taking their place, and just like you learned to love your Birks (you’re wearing them right now with cozy socks, aren’t you?), we bet you’ll curb your cringing at these perfect-for-fall shoes if you give ’em a chance. Below, we’ve listed the reasons why these unpretty steppers will soon steal your heart.
Why They’re “Ugly”: When their heels are on the higher, thinner side, mules can add an easy elegance to pretty much any outfit, not to mention help elongate your legs in the process (win-win). This fall’s version with a shorter, thicker heel is like a shoe makeunder, turning the once occasion-ready footwear into a more laid-back silhouette that might remind you a *little* too much of your grade school art teacher’s shoes of choice.
Why You’ll Love Them: These truly are shoes fit for lazy girls: slip ’em on and you’re out the door just like that (when they’re of the close-toed variety, there’s no pedi required). What’s more, these low gliders go with just about everything from your most casual weekend attire to your fave office culottes to a date night-worthy dress. Plus, now that they’re lower to the ground, they’re a lot easier to walk in.
Try: A chunky ’90s-meets-western vibe like Madewell’s Eller Mule ($168) or Shellys Blue Suede Heeled Mule Sandals ($113) for a more modern option (read: cutouts) that also hits the ’70s revival trend (one word: suede).
GLOVE SHOES
Why They’re “Ugly”: Sure, they kind of look like what would happen if a genie turned one of those blue shoe covers into a real life shoe. In reality, this slipper-like footwear is the definition of minimalist design, crafted with a flexible upper to accent the natural shape of your footsies — because of that, they’re 100% frill-free. To some, that means there’s nothing to swoon over, but to others (this editor included) the stripped-down design is just what your cropped flares called for.
Why You’ll Love Them: Simply put, they’re a one-shoe wonder. Because they’re so neutral, they can go with anything from any season, so long as the outfit you’re rocking prescribes to a similar less-is-more vibe.
Try: Rachel Comey Calder Shoes ($345) for a more ladylike take on the trend that will go with your favorite fancy jumpsuit and dress up your raw-edged jeans. For a wear-everywhere version, snag the OGs, Martiniano Glove Shoe ($398), especially if you’re in constant need of a bold pop of color.
WEDGE BOOTS
Why They’re “Ugly”: When platforms take over airy shoes like sandals or classic pumps, that’s one thing — they add grunge or glam to an otherwise delicate shoe. But a hulking wedge heel hoisting up an ankle-covering boot (or higher) is just a lot of look.
Why You’ll Love Them: Height without the heel ache? We’ll take it. Plus, when those oversized fall layers need a bit of balance. For that, these chunky pairs are your solemates.
Try: Kelsi Dagger Brooklyn Ubel Wood Wedge ($175) if you’re looking for a closed-toed clog alternative or if you’re looking for a slightly dressier version of combat boots, go for Forever 21 Faux Suede Wedge Booties ($28).
Are you keeping things ugly with your footwear this fall? Tell us about your fave fall shoes (whether your friends like ’em or not) 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
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