10 Fitness Vacations That Won’t Break the Bank
Vacation is a time to relax, recharge and indulge. For some people, that may mean indulging in a wellness vacation, whether it be mental or physical. Want to learn how to surf, spend a week hiking with new friends or just detach from the technology in everyday life? There’s a fitness vacation for that. When many people think of fitness vacations, they think of expensive excursions or pricey spas, but that doesn’t have to be the case. Keep reading to see where you can get away from it all without breaking the bank.
1. Venetian Spa, Las Vegas, NV ($40/day): Yes, you can have a healthy vacation in Vegas! An affordable one-day spa pass at this famous hotel will cover use of the fitness center, fitness classes (from BOSU core conditioning to kickboxing), along with access to the 40-foot rock wall.
2. The Standard Miami, Miami, FL (activities start at $35): Looking for a more indulgent fitness getaway? You can hit up a stand-up paddle boarding class, yoga and even participate in fire walking, all while getting some of the best spa treatments and eating the best food in Florida. You might need to *stay* somewhere nearby to make this fit your budget, but getting the Standard perks without the turndown service isn’t half bad.
3. Sivananda Bahamas, Paradise Island, Bahamas ($98/night): Are you looking for a yoga retreat for less than $100 a night? This resort offers teacher training, intensive yoga programs and more, plus it’s only a short flight from the East Coast. (Photo via @sivanandabahamas)
4. Pura Vida Retreat and Spa, Alajuela, Costa Rica ($115+/night): Pura Vida Spa and Resort in Costa Rica is widely known as one of the best yoga retreats in the world. Get certified with yoga teacher training, detox and take some surfing class while you’re there.
5. New Life Hiking Spa, Kilington, VT ($120+/night): Whether your goal is to get outside and hike, get back on track physically or de-stress mentally, this retreat in Green Mountains may be for you. You’ll come back feeling one with nature.
6. Hotel La Jolla, San Diego, CA ($260/night): This spot was made for city lovers who still want to stay active. At this outpost of a Kimpton Hotel, you can rent designer PUBLIC bikes, try SUP and go kayaking on the Pacific.
7. Jackie’s on the Reef, Negril, Jamaica ($150/night): Here’s an eco-friendly resort that will have you feeling refreshed in no time. Try yoga, meditation or tai chi in between spa treatments and healthy, fresh meals.
8. Chicabrava Surf Camp, San Juan Del Sur, Nicaragua ($1290+/week): All you aspiring surfers: Head to beautiful San Juan Del Sur, Costa Rica to find Chicabrava Surf Camp, an all girls’ week-long intensive surf program. The price includes lodging, some meals and two hours of instruction per day. It’s time to make those Blue Crush dreams a reality!
9. Canyon Ranch, Lenox, MA + Sedona, AZ (from $1500/week): Canyon Ranch is frequented by celebrities and fitness junkies alike. Spend your days hiking, eating balanced meals and getting massages or facials, all of which are included in your vacation package.
10. Lake Austin Spa Resort, Austin, Texas ($1,700/week): Looking for slightly more low-key water activities that don’t require a passport? Head to this urban retreat during one of their QUENCH weekends, where you can experience more than 25 water-themed activities in a seven-day program. This health and wellness retreat may be a little pricer than the rest, but everything from food to spa treatments is included.
Have you ever been on a wellness retreat? How do you stay active on vacation?
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