10 Must-Have Fitness Products for Summer Workouts
Swimsuit season is always welcomed with open arms and open toe sandals. But let’s be real: Getting beach bod fit requires hard work. Investing in new workout gear can turn that work into play and give us some more time on the beach showing off our hotness. From apps to stylish fitness trackers, here are 10 new fitness products everyone should have for a summer workout.
1. HyDrive Energy Water ($2): Vitamin-enhanced energy water is a new way to simultaneously hydrate and energize. At only 30 calories, HyDrive Energy Water is the perfect pre-workout beverage that gives an energy boost without the calories. With two new summer flavors, mango peach and honey lemonade, HyDrive Energy Water is one you’re going to want to throw in the gym bag to keep you energized during even the toughest workout.
2. Nike + FuelBand SE Gold ($149): The latest innovation in Nike’s former FuelBand line is a smart, simple and fun way to get active. This sleek cuff measures workout intensity, tracks sleep and displays progress in real time. Check out more (sooo many more) of the wearables we have our eyes on here!
3. Outdoor Oterro ($100): This bold new running shoes from Topo Athletics sheds mud and dirt while providing traction over a variety of surfaces. A light mesh offers breathability and flexibility while an anatomic shape allows for natural foot positioning.
4. Limited Edition Manduka PRO ($118): Invigorate yoga sessions this summer with a fresh and joyful yoga mat. The redesigned Manduka PRO boasts unparalleled comfort and cushioning, non-slip fabric finish and a simple, elegant design that comes in multiple colors.
5. Runtastic Adventure App (Free): This new unique app’s concept of “story running” uses dramatically narrated stories that have a protagonist running to or away from something that changes when the runner changes pace.
6. Halo V ($15): The Halo V is the latest addition to the Halo Headband line of sweatbands, featuring an adjustable VELCRO strap and breathable fabric that absorbs sweat and channels it away from eyes.
7. UA Contain Storm Duffle ($80): Hit the gym in style with this new duffle bag from Under Armor. The bag has two large vented end pockets, including one expendable pocket for sweaty laundry.
8. FlipBelt ($29): Instead of purchasing new workout pants with pockets, invest in a FlipBelt, a slip on, spandex waistband. The lightweight belt is designed with a small opening to hold heavy items, such as phones and keys. Flip the belt inwards to lock in items in place during any work out.
9. Recovery Compression Tights ($160): The 2XU Recovery Compression Tights promote necessary muscle repair and circulation after any strenuous exercise. The supportive fabric reduces muscle soreness to help athletes stay in training and out of the doctor’s office.
10. Waterproof iPod Shuffle ($155): While you wait for your pre-ordered Dash headphones to arrive, keep your swimming soundtrack playing with a waterproof iPod Shuffle and headphones. Completely insulated, sweat or swim to hundreds of energizing songs with this portable iPod Shuffle. Cue Queen Bey’s playlist!
What are your favorite fitness products for summer? Let us know in the comments below!
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