If you Google “Erin Andrews career advice” (say, to prep for an interview with the Fox Sports/Dancing With the Stars host) you’ll see that she’s been asked to give it about as many times as Beyoncé has likely been asked what beauty products it takes to “wake up like this.” And, since the career that Andrews is crushing it in is mostly populated by men, the FAQ usually goes like this: “What is your best career advice for women trying to break into a male-dominated field?” While the sportscaster was in the same town as Brit HQ for this weekend’s Super Bowl, we sat down with her and asked a totally different career question that stumped her. For a minute.
Forget the good advice — from a female Silicon Valley resident to a female sportscaster, I asked Erin to reveal the worst thing she’s ever been told as a woman in a mostly male field. After thinking about it for a second, she shared this story: “People ask me all the time — which I always say if I ever write a book would be the title — ‘Do you really like sports?’” She paused, looking at me as if to say, “Can you believe that bulls@#!#t?” (I couldn’t.)
“No. I live out of a suitcase. I am never home. I have no life. I miss Thanksgiving every year. I don’t [like sports]” Erin laughed. “So I think one of the worst pieces of advice is that you can get by being pretty and you don’t really have to like sports. Or — if you’re in a male-dominated industry and it’s not sports — that you don’t need to really like the job you have; just look cute and get away with it.
“I carry a huge Trapper Keeper on the field and people say to me — ‘did you do this yourself?’ Another favorite one is: ‘Do people tell you what to say or do you make it up on your own? Are they feeding you questions?’ Are you insane?” The sanity query is a fair one to anyone who would doubt Erin’s commitment to the game or the hustle. The sportscaster is her own glam squad and research team, getting up before each game to fill said Trapper Keeper with all the necessary info she needs to know, doing her own hair and makeup for showtime.
The other defense Erin regularly has to run is making it clear that women in male-dominated industries can be friends, catfight-free, naming fellow Fox anchor and EXTRA co-host Charissa Thompson as an MVP in her support squad. “It’s a very competitive industry,” Erin admits. “I’ve learned that from a very young age. Someone asked me a question the other day, ‘Do you look over your shoulder and see who’s coming up the ranks?’ Yeah, you’re aware of who’s in the industry but… I think any time a guy senses there’s a little bit of edginess or jealousy, the boys like to stir it up, ‘Whoa! She’s wearing this! And she got this interview!’ stuff like that.
“Charissa is one of my dearest friends in the industry. We’re both so honest with each other and have been through a lot of the same stuff. I genuinely cheer for her. After she does something I’ll text her, ‘First of all, you look amazing. Second of all, you were fabulous.’ Relationships like that, you do hold near and dear to your heart because there aren’t many in the industry.”
Now *that* is much better career advice.
What’s the worst career advice you’ve ever gotten? Give it up on Twitter or Facebook.
(Photos via Steve Jennings + Michael Tullberg/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