There are a lot of ways to travel, like living and working abroad, putting aside time to travel intentionally, or hitting the closest national parks whenever you get a spare weekend. However you prioritize your vacation plans, making a bucket list is key. You probably already have countless cities and monuments you want to visit, but we have another suggestion to add to your growing list: mountain ranges. Often spanning several states (or countries!), mountain ranges give you the benefit of spending time in nature and getting to see parts of the world you may not have otherwise considered. Here are the peaks you'll definitely want to see.
Himalayas, Nepal: Known for being home to some of the world’s tallest mountains, like Mount Everest and K2, the Himalayas span five countries and include more than 50 mountains that exceed 23,600 feet in height. If you’re not a mountaineer, don’t worry: There are plenty of shorter hikes in the area, like the five-day (that’s short in Himalayan terms!) Ghorepani trek, that still let you experience the majesty of the mountains.
Rocky Mountains, Canada: Did you think the Rockies were just limited to Colorado's Rocky Mountain National Park? Nope. The range extends through eight states and all the way into Canada, where some of the most spectacular views can be seen. Take a trip to Banff National Park and explore the Columbia Icefield after taking in the stunning scenery at Lake Louise or trekking on a short hike to Hoodoos, both of which offer iconic views of the range.
Swiss Alps, Switzerland: If you're more of a skier than a hiker, the Swiss Alps offer plenty of powder. One of the most recognizable peaks in the Alps is the Matterhorn, but you don't have to be an adrenaline junkie to ski in the area. Multiple beginner-level courses are also available and can be found in places like the mountain village of Andermatt, which is home to several resorts.
Northern Japanese Alps, Japan: The Japanese Alps are three separate mountain ranges, the Hida Mountains (Northern Alps), Kiso Mountains (Central Alps), and Akaishi Mountains (Southern Alps). All are worth seeing, but if you want this view of Mount Tateyama in the Northern Alps, all it takes is a ride up in a Tateyama Ropeway cable car. You can also take the Kurobe Gorge Railway through the Hida Mountains and stop off at one of several hot springs.
Andes, Patagonia: The Andes are the dividing line between Chile and Argentina at the southern tip of South America, and the range bisects an area known as Patagonia. Glaciers and icebergs are par for the course in this area, and the terrain is undoubtedly rugged and remote. Los Glaciares National Park and Torres del Paine National Park are popular destinations. Unless you're especially outdoorsy, you may be happier — and safer — as part of a guided tour, like ones offered by REI Adventures.
Dolomites, Italy: Italy is good for more than just delicious wine and pasta. The northeastern part of the country is home to the Dolomites, a breathtaking mountain range that was named a UNESCO World Heritage Site in 2009. In the wintertime, skiing is a popular sport, but during warmer weather, biking and hiking take over. Hike up to Lago di Braies, a gorgeous blue-green lake nestled among peaks, and bask in the unbelievable scenery.
Southern Alps, New Zealand: A range that runs much of the length of New Zealand's South Island, these are not small mountains — the highest peak, Aoraki (also known as Mount Cook), is a whopping 12,218 feet high. Take a road trip to the small town of Lake Takapo or walk the popular Hooker Valley track along the Hooker River — and don't forget to snap some pictures!
Rwenzori Mountains, Uganda: The third highest peak in Africa, Mount Stanley, lies within the Rwenzori Mountains. This mountain range runs along the border of Uganda and the Democratic Republic of the Congo and their snowmelt is a main contributor to the water of the Nile River. Everything from a short day hike to a multi-day trek is available in the area, and the Rwenzori Mountains National Park is home to forest elephants, chimpanzees, monkeys, and a host of other plant and animal biodiversity.
Share your favorite mountain range on Twitter @BritandCo or tag us in your adventure pics on Instagram.
Share your favorite mountain range on Twitter @BritandCo or tag us in your adventure pics on Instagram.
(Photos via 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
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