7 Indoor Workouts to Beat Rainy Days
Before we can enjoy any beautiful May flowers, we have to get through the April showers. Soggy weather can throw a serious crutch in our workout plans when our cardio activities are outside the gym (like hitting the trails), and our yoga practice is going down outdoors. So next time the sky turns gray and the rain starts pounding down, just grab your workout gear and head over to YouTube to check out any one of these seven killer workouts you can do from the comfort of home. Feel free to invite your workout friend in from the rain for extra motivation.
1. Fun Indoor Cardio Workout: Cassey wants us all to pretend like we’re at a dance club for this workout, and considering that’s how we like to live our lives in general, this 10-minute indoor cardio workout is super fun (but actually really hard too). (via blogilates)
2. 32-Minute Home Cardio Workout With No Equipment: Get ready to sweat. With this video, you’re going to be doing a body-weight only cardio workout that follows a 45-second workout to 15-second rest format. Your heart will be pumping hard. (via FitnessBlender)
3. Yoga for Complete Beginners: Calling all beginners! Adriene talks you through a complete sequence that doesn’t require anything but an open mind, an open heart and 20 minutes of your time. (via Yoga With Adriene)
4. Chair Moves to Tone Your Legs and Butt: Who knew your dining room chair was so crucial to getting tighter legs and a toned butt? Perfect for you ladies living in small spaces, this quick two-and-a-half-minute video gets you in and out in no time. (via CosmoBody)
6. 5-Minute Workout for Abs & Butt: Three exercises done in just five minutes is what Zuzka calls a “lazy workout,” but trust us, it’ll feel anything but lazy once you’re a few minutes in. Prepare to feel the buuuurn. (via Zuzka Light)
7. Fat-Burning Indoor Cardio Workout: The size of your yoga mat is all the space you need for this two round, 20-minute cardio routine with Kym. She’ll lead you through ten moves for one minute each, repeated twice. (via KymNonStop)
Tweet us your go-to indoor workout @BritandCo!
(Feature photo 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