Airbnb’s New Experiences Service Is Like Uber for Personal Tour Guides
Everyone loves a good vacation. There’s something so refreshing about getting away from it all — if you can avoid questions about the election and get good deals on your travels. There are some travel splurges that are worth it though; mainly, experiences! That’s why we’re really excited about our favorite travel home-sharing site’s newest feature.
If you’re taking a trip to Southern California, you’ll definitely want to check out The Food Anthropologist Experience. The host, Paola, is a trained chef and is known for producing LA’s most popular tasting events. She founded the Mexico Feeds Me dinner series and contributes recipes to Cooking Light, Saveur and Vice MUNCHIES. The Experience lasts three days and focuses on the progressive street food corridor in LA, secret pop-up restaurants and even an experience where the underdogs of the kitchen (dishwashers, bakers, pastry chefs, etc. who don’t normally get to show off their skills) prepare you a meal. It will set you back $250 per person, but the meals are included in that cost and you’ll be with a small group of only five other people. So worth it!
Next on the list is Nairobi, Kenya. In this two-day experience, Agent of Change, you will learn Maasai crafts in a social impact immersion. Your host, Emilyn, is a Kenya native who earned a graduate degree in International Development in the United States. When she finished school she returned to Kenya, where she helps empower women and cultivate community. 100 percent of the proceeds from this experience ($150 per person) go to Zawadisha, a nonprofit whose mission is to provide rural women access to renewable energy and water. You will have an insider’s dinner in Nairobi, learn Maasai beading and cook on a clean cookstove, which means less coal and therefore less toxic fumes. Why not make a positive impact on your next vacation?
Next comes Dog Rescue in Detroit. Danielle has volunteered at Detroit’s only no-kill shelter for the past three years and loves working with animals. In this two-day experience you will get a tour of the shelter, along with puppy playtime and time with the Forever Foster dogs (dogs who don’t get adopted because of physical and/or mental disabilities). It will only cost you $150, and 100 percent of the proceeds go to Detroit Dog Rescue. This is a great experience for all you animal lovers out there. We promise the puppies will melt your heart.
These are just a few of the amazing experiences you can now enjoy through Airbnb. If you’d like, you can even sign up to host a guided activity yourself!
What experience would you most like to participate in? Tell us @BritandCo!
(h/t Mashable; Photos viagilaxia, borchee + Hero Images /Getty)
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