With International Women’s Day approaching on March 8, there’s no better time to treat yourself (or your BFFs) to a much-need vacay. While a trip to the spa or beach are great go-tos, nothing tops creating homemade pasta in Tuscany, snorkeling turquoise seas, or even laying poolside next to monkeys — all with your best gals, of course. Below we’ve rounded up several hot stops that offer these experiences at a free or discounted rate for the holiday. Keep scrolling to preview the opportunities that are just a short click or call away.
W Punta de Mita
Ever dream of riding the waves in aqua-colored waters? Then grab your girls and head down south to a place that offers surf, sand, and sun. The W Punta de Mita is dedicated to honoring the first of the three — surfing — which is an important part of the local culture. You’ll find decor around the hotel paying homage to the sport (think surf headboards and wall decals) and an on-site shop for any vacationer looking to snag some shreddin’ time. Bonus: In honor of the March 8 holiday, the W is offering FREE surf lessons, complete with GoPro photos (epic souvenirs), for up to four female travelers at a time. Sign up at the hotel’s welcome desk, or call to learn more.
Barnsley Resort
This sprawling Georgian resort boasts more than just southern charm. In honor of International Women’s Day, the accommodations are offering a unique “shoot and swing” opportunity (it’s all in the title). On March 8, the resort’s 18-hole golf course will host a complimentary clinic with a head golf professional. If something more non-traditional is up your alley, there’s a free sporting clay shooting lesson offered, too. To reserve your spot for what will inevitably be a thrilling afternoon, give the resort a call, or email jody.jones@barnsleyresort.com.
Renaissance Tuscany il Ciocco Resort & Spa
Romantic getaways shouldn’t strictly be reserved for your S.O. — and this estate is the perfect place to go with your gal pals. Since it’s situated right in the middle of one of the most gorgeous areas of Italy, you’re guaranteed some unreal views, alongside two on-site restaurants, two pools, a spa, and a variety of hotel-coordinated day-trips to choose from. For their Women’s Day offering, they’re hosting a FREE pasta-making class where female vacationers can learn how to make the most beloved food in the area by hand. If carb-loading for a day with your BFFs sounds like the best thing ever, give the resort’s concierge a call.
El Mangroove
Take a few days away from your phone or laptop in this lush tropical getaway. El Mangroove is an 85-suite boutique hotel with *all* the amenities one could want. Think outdoor bungalows, in-room hammocks… and a pool surrounded by local visitors (and by that we mean howler monkeys). Of course, this destination is no exception to the ladies-only deals: Theirs includes an on-the-house sailboat ride for female guests. Like the facilities, this experience includes extras like snorkeling stops, free food, and complimentary sips. Be sure to get in on this opportunity before it fills up by calling the hotel’s concierge or emailing them at concierge@enjoyhotels.net.
Marriott Puerto Vallarta Resort & Spa
This sandy tip of land located on the Pacific coast is a great place to grab some good cuisine and vitamin D. Both of these go well with the Marriott Puerto Vallarta’s own tequila, made for all to enjoy from agave azul grown on-site. On International Women’s Day, women can partake in the delicious tradition with a spirited tequila tasting and food pairing with Audrey Formisano, the resorts’s in-house tequila sommelier. If cocktails in paradise sound like just what you need RN, reach out to the hotel to reserve your spot.
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