Next up in our series on all things registry, we’ve teamed up with Target Wedding Registry to serve up a whole bunch of vintage gift ideas… that are actually brand new!
Whether you’re looking for a timeless pitcher, tray or other piece of decor, old school design can definitely be where it’s at. But, going antiquing is way easier said than done and tends to be hit or miss. Lucky for you (gift-giver or newlyweds-to-be), we’ve taken it upon ourselves to collect a handful of vintage-inspired items straight from Target. Woot!
Weduary
check out Weduary! You can create a beautiful, social website and integrate your entire registry right into your site.
Now, onto the gift ideas and registry must-haves!
1. Aqua Blue Pitcher ($13): This beauty combines emerald green with gold in a timeless way. We can imagine mixing up a fresh batch of lemonade in this pitcher on a hot summer day — and obviously spiking it ;)
2. Luigi Bormioli Michelangelo Cake Plate With Dome ($50): You might think cake baking is old school, but there’s still something special about whipping up a homemade dessert and presenting it in a formal cake dome.
3. Solid Ironwall Clock ($40): This colorful clock is like a hypercolor version of the types of clocks we remember from grade school. This would look great in a kitchen or workspace.
4. Nate Berkus Gold Swingline Stapler ($16): Okay okay, we realize it is semi-ludicrous to suggest a stapler as a wedding gift but… it’s a GOLD stapler. How could we not share it?!
Room Essentials Marquee Arrow
before the wedding — it would make for fun signage moments throughout your event.
6. Colorful Condiment Caddy ($12): Who knew condiment caddies could actually be attractive? This makes us want to go on a picnic… now.
7. Nate Berkus Gold Mirrored Tray ($35): Is it absurd to describe a tray as disco era?
8. Room Essentials Gooseneck Desk Lamp ($10): You’ve seen a desk lamp like this before, and you’ve probably owned one. Well, the classic gooseneck light is back and now, in full color!
9. Young House Love Vintage Key Rail ($13): Love the mint hue of this key rail.
10. Yellow Metal Decorative Basket ($13): One can never have too many bins, baskets and other means of organization. So why not make sure they look good, too?
Oh Joy! Tiffin Meal Box Carrier
on our site before, and you’ll probably see it again. We just love this modern update to a seriously old school classic.
Vertigo Framed Poster
Vertigo.
13. Libbey Moonshine 8 Piece Drinkware Set ($26): And now you officially have an excuse to make your own moonshine. You’re welcome.
14. KitchenAid 5-Speed Hand Mixer ($40): If you’re not up for the full-on stand mixer, go for this handheld option instead!
15. Round Fruit Print Serving Tray with Handles ($15): Like bins, trays are our BFFs in the organization department. This would look lovely atop an ottoman that doubles as a coffee table.
16. Nate Berkus Yellow Metal Frame ($15): Finally, a frame always makes a great gift for newlyweds. They’ll have so many brand new pictures to frame after the big day.
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
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