7 Totally Unexpected Ways to Use Your Myers-Briggs Results
Broken into four key quadrants, the Myers-Briggs personality test has proven to be a pretty reliable way to learn a lot about yourself. Results are especially useful in professional situations (employers love ’em!), where personality quizzes can reveal your dream career, help you maximize your creativity and communicate with your coworkers. But understanding what makes you tick can also help you make some exceptional life choices in the seven areas below.
1. Trying new things. One of the most obvious benefits of knowing your personality type is understanding how you learn. But the learning doesn’t have to stop when you leave school or the office! Use your self-knowledge about how you absorb info as power to enjoy whatever new thing you try, whether it’s crafting or coding. Purposely choose new activities and settings where you’ll flourish.
2. Discovering the perfect workout. The world of workouts is totally limitless. From CrossFit to Snowga and even YouTube videos you can do in your bed, there’s no shortage of fun ways to stay in shape. Do you fall on the extroverted side? A high-energy group sweat sesh is probably perfect for you. Love quality one-on-one time and ultra-personal interactions? A personal training appointment might knock your socks off. Whatever it is, use your results to choose an environment that motivates you to get moving!
3. Decorating and styling your home. Your home is a reflection of YOU, so it makes sense that how you spend time with others can have a major impact on your design style and interior arrangement. Extroverts are a match made in heaven for bright spaces meant for entertaining, while more introverted types are sure to appreciate a cozy book nook. Your results can majorly inspire your kitchen style as well.
4. Managing your money like a total pro. Consider your decision-making letter (feeling vs. thinking) when you think about how you manage your money. If you’re more of a thinker, you’re likely to objectively weigh the pros and cons of a financial commitment or purchase. If you’re more of a feeler, you might make emotional decisions. Pay attention to the organization section of your test results too. Are you a judger, who follows every rule? Or a perceiver who’s inclined to be spontaneous? See if there’s room to loosen the purse strings or cut back on unnecessary “in the moment” spending.
5. Finding love and romance. “They’re not my type” has literally never been more true — finding the perfect partner for your personality is tough! Since compatibility is the ultimate key to any great relationship, use all of your results to understand what kind of person complements your personality. Be honest about your strengths and weaknesses. Are you an ISFJ who loves to nurture? An ESTJ who enjoys acting as a guardian? No matter, just know there’s someone out there who’s a great match for you.
6. Having the best friendships. Like romantic relationships, friendships are a super special bond that require real compatibility. Be smart about both hitting the town with your squad and making time to savor a cup of coffee with your BFF, ensuring you get your extroverted fun fix without burning out entirely. Handle disagreements and drama better too by communicating more effectively with your pals of every personality type. Knowing what resonates with them will make it much easier to show the love, undivided attention and care that they may need.
7. Excelling in all things career. Knowing how you work and communicate with others helps IMMENSELY at the office, so use all four quadrants to become a rockstar collaborator by playing to your strengths. You can also use your results to choose a specific job or career path. For example, ESFP types are said to make amazing actors and designers, while ENTJ personalities succeed as lawyers and researchers. Check out some suggested jobs for each of the 16 types to get an idea of what might work for you.
Which Myers Briggs personality type are you? Join the convo on Twitter @BritandCo!
(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