
With Labor Day right around the corner and the changing season ahead of us, it only makes sense to switch up your style and your home decor. Get in touch with your inner ’90s kid with a totally new way to DIY nail wraps, figure out how to paint a colorful collection of wooden vases and, hey, maybe even give your porch a little more sass with a funny doormat. Whether you’re thinking of trying a no-sew duvet cover or you just want your wall art game to be a little more on point, here are 12 weekend projects to make before Monday’s return.
1. DIY Watercolor Wall Art: Brighten up your digs with an easy DIY combining two chic decor trends: watercolor and plants. The beauty of watercolors is truly in the blending, resulting in all of the colors mixing and swirling together. And the secret to those clean lines? Masking fluid. Learn how to paint like a pro with this easy tutorial! (via Brit + Co)
2. DIY Gold Foil Notebooks: “I have too many notebooks” — said no one ever. This set of gold foil notebooks would be perfect for the modern workspace or the dorm room desk. Get your creative juices flowing and spell out your own clever message in gold letters for an extra special touch of personalization. (via Lovely Indeed)
3. DIY Tie Dye Nail Wraps: The ’90s are back in a big way, so it’s time to bring on the tie-dye. If you haven’t tried making your own nail wraps, you’ll love this quick and easy DIY that will have you rocking those rainbow shades in no time. (via Aww, Sam)
4. DIY Painted Sweatshirt: Raise your hand if you have a slight addiction to thrift store shopping. Next time you pick up the best find ever, pull out the fabric paint and get fruity with it. Turn a classic sweatshirt into a one-of-a-kind wardrobe staple in less than 15 minutes. (via Brit + Co)
5. Lisa Frank-Inspired Cake Batter Milkshakes: Yep, we did it. Lisa Frank milkshakes can now make an appearance at your next party. Whip some up for your next bash or just make one for dessert tonight. (via Brit + Co)
6. DIY Hanging Clay Air Plant Holders: What’s better than a fabulous planter to put your new plants in? An affordable planter you made out of clay, of course. Whether you’re carefully babying an air plant or you’re sticking with the faux greenery, these pretty hanging planters are just what your indoor garden needs. (via Bash)
7. DIY Asymmetrical Side Table: It’s time to do something about the boring table you look at every day. Whether you want a side table by the couch or a new nightstand in the guest room, make something new and interesting with a piece of asymmetrical wood and a set of legs. (via A Kailo Chic Life)
8. DIY Back-to-School Denim Patches: Embroidered patches have made a massive comeback, and they’re such a fun way to upgrade your basics. Bring some hipster flare to your denim jacket or jeans by ironing or super-gluing a variety of patches onto the shoulders and pockets. (via Brit + Co)
9. DIY Painted Wooden Vases: Plain wood vases are kind of the bee’s knees. You can cluster them to create an arrangement or place a single vase on your bedside table for a clean, minimalist look. Follow this tutorial and embellish simple vases in a variety of ways, from cheeky eyelashes to pattern-dipped vases. (via Damask Love)
10. DIY No-Sew Envelope Pillows: Whether you’re looking for ways to outfit your new dorm room or your couch just needs a colorful update, you can’t go wrong with a no-sew throw pillow. These envelope pillows are made from pretty fabric napkins and iron-on tape, so there’s not a stitch of sewing required. (via Sugar & Cloth)
11. DIY Textured Linen Coverlet: When in doubt, add tassels! This simple, no-sew linen coverlet is an easy way to add a touch of luxe and color to any bedroom. The tassels add a ton of texture, and you can easily pick a color that matches the rest of your bedding. Think of it as another chic accessory for your bed, just like those DIY pillows you’ve been dying to make. (via A Beautiful Mess)
12. DIY Door Mat: Your front door is the first chance you get to show off your personality, so why are you still sporting that plain brown doormat? Jazz things up this weekend with a brand new mat and a sassy greeting. All you need is a doormat, stencils, paint and a clever quote that’ll make your guests LOL. (via Brit + Co)
What are you looking forward to making this weekend? Show us your project by tagging us on Instagram + using the hashtag #iamcreative! And follow us on Pinterest for even more fun DIY ideas.
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