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It’s Father’s Day! CHILDREN CREATE UNIQUE DAD’S DAY GIFTS Recently, people have been spending big on Father’s Day, and many wait until the very last minute. Last year, Americans spent a record $22.9 billion on Father’s Day, up nearly 10% from the previous year, according to an industry survey. And more than half of consumers don’t start shopping until the week before Father’s Day, while 3.5% wait until the very last day before the holiday, according to another survey. The second survey also revealed that over 75% of shoppers struggle to think of good Father’s Day ideas. Most settle on outings, clothing, gift cards, personal care items, or electronics. Here are three low-budget ideas you can do with your kids that are sure to charm any dad, offered by What’s Up Moms, a top parenting site on YouTube co-founded by vlogger Elle Walker.
Long days at the lake, tropical vacations, and the smell of sunscreen — summer is here! This time of year is the perfect opportunity for homeowners to take advantage of a lesser-known tax rule, the Augusta Rule. This provision, which gets its name from its use during the Masters Golf Tournament, held in Augusta, Georgia, allows homeowners to rent out their property for up to 14 days per year without having to report the income on their federal income taxes. This can be a great perk, especially during summer and peak travel time! What is the Augusta Rule? The August Rule is a provision under IRS Section 280(A)g of the IRS code that exempts homeowners from reporting rental income if their home is rented out for fewer than 15 days throughout the year. This temporary rental period does not restrict the homeowner to consecutive days, offering flexibility to capitalize on high-demand occasions throughout the year. For those living in tourist-friendly or event-heavy areas, the summer months are a great time to take advantage of the Augusta Rule. Whether it’s a music festival, a sports event, or simply peak tourist season, RENT YOUR HOME T Summer Earnings Wi
homeowners can earn tax-free income by renting out their residence. This can be particularly enticing if you want to offset the costs of your summer vacations or boost your income without long-term commitments to tenants.
Interview Cards If your kids are preschoolers, have them answer questions about their father and record their answers on notecards. Things like, “How old do you think Daddy is? 100? What is one thing Daddy says? What does Daddy do for work? Why do you love Daddy?” The simplicity and innocence of your children’s answers will warm Dad’s heart more than any store-bought gift ever could. Shopping Spree Give each child $10 to pick out something for Dad, all by themselves, then take them to the nearest big-box store. Walker’s youngsters came up with a mirror, a pair of swim trunks, and crib sheets, and they clearly loved being empowered to make choices. Photos From a Kid’s Perspective You may be surprised at some of the angles children choose and the tender moments they capture, “even if they’re not wow-worthy,” Walker says. Her daughter caught a captivating shot of her husband, Ross, napping with their preschool son resting on his shoulder.
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