10 New Netflix Movies + Shows to Stream This Month
How, oh how, did we ever live in the land before Netflix? Thankfully, those dark days are over, and now we can tune in and bliss out for hours on end. We’ve all been jonesing for our next big fix after tearing through season three of Orange Is the New Black and committing to a third (or fourth) re-watch of The Unbreakable Kimmy Schmidt. Thankfully, July has a bounteous bevy of new flicks and shows perfect for a mid-summer’s binge. Get the popcorn ready and beat the heat with our top picks for the month ahead.
1. What Happened, Miss Simone? Using newfound footage from the life of the preternaturally talented Nina Simone, this documentary offers deep glimpses into the troubled and talented soul of one of the 20th century’s greatest musicians. Through interviews, live performances and more, the doc walks us through not just the fascinating creative and commercial sides of her musical career, but her civil rights activism and personal struggles too. (Photo via Netflix)
2. Derek, Seasons One and Two: Love him or hate him, Ricky Gervais has done the unexpected and given us a heaping helping of sincerity in this British dramedy, made possible through a collaboration between Netflix and the UK’s Channel 4. Follow the titular character, played (not to mention written, directed and produced) by Gervais, through his days as a caretaker at an English nursing home. You’ll fall in love with a critically divisive show that, at its heart, is all about the power of kindness. (Photo via Derek Productions)
3. Austin to Boston: Laying waste to the assumption that life on the road as a touring musician is glamorous and carefree, this film follows four musical acts — Ben Howard, Nathaniel Rateliff, The Staves and Bears Den — from a SXSW gig through a series of shows on the road between Austin and Boston. The film chronicles a “modern tour, done the old-fashioned way” via “five old VW camper vans, four bands, three thousand miles, two weeks and one gloriously backwards tour.” Think of it as Almost Famous in real life, with much humbler transportation. (Photo via Communion Music)
4. An Honest Liar: Learn all about the life and times of world-renowned magician and escape artist James “The Amazing” Randi in this documentary, out on July 1, including his public outing of con artists the world over, from psychics and gurus to faith healers and even some of his very own students. (Photo via Left Turn Films)
5. Bad Ink: Season Two: If you can’t get enough of this train wreck of an A&E show — or, rather, the train wreck of its constant parade of tattoos gone wrong and in serious need of a fix — then July 14 is the day for you. That’s when the second season of the cult hit begins streaming on Netflix, as viewers follow two Las Vegas tattoo artists in charge of righting an endless stream of wrongs. What happens in Vegas may stay in Vegas, but sometimes, Sin-City-related regrets need a super quick fix. (Photo via Sharp Entertainment)
6. Tig: Giving new meaning to the word “inspiration,” comedian Tig Notaro has been through a few things, to put it lightly. This documentary looks at the year in which she was hit with the one-two punch of losing her mother and being diagnosed with cancer. Fierce, funny and fearlessly straightforward, Tig offers a glimpse into her life with her usual next-level sense of humor in this much-anticipated doc, out July 17. (Photo via Beachside Films)
7. BoJack Horseman, Season Two: This darkly humorous series got off to a slow start in its first season, but managed to pick up steam by the last few episodes, causing critics to hail it as one of the best shows of 2014. It’s back again for a second installment on July 17, so you can learn all about the next chapter in the life and times of the fictitious ’90s-sitcom-horse-turned-cynic. (Yes, it’s as weird as it sounds.) (Photo via Tornante Company)
8. Glee, Season Six: Any Glee fans in the house? You know who you are, you harmonizing cornballs, you. And we’re not judging you! In fact, we just might tune in to the sixth and final season of America’s favorite ongoing high school musical ourselves. This season, Rachel comes home to find the arts program eliminated, while Blaine and Kurt’s relationship seems to have reached the end of the road. Will it all get resolved? Will anyone sing a Burt Bacharach song, or four, by the time the final curtain falls? Warm up those pipes and be sure to request a hall pass before you tune in to find out on July 18. (Photo via Ryan Murphy Productions)
9. Teacher of the Year: Folks in need of a Key & Peele fix can get it — well, half of one, anyway — with this comedy starring Keegan Michael Key as a high school principal. Out on July 23, it brings the low-budget LOLs as a Teacher of the Year recipient gets a job offer and has to decide whether to stay or go. (Photo via Lower Merion Films)
10. Wet Hot American Summer: First Day of Camp: If you haven’t had the pleasure of watching the original Wet Hot American Summer, do yourself a favor and check out the 2001 cult gem. Then, move on to its prequel, which comes out as a series of Netflix Original episodes on July 31, to find out the backstory of the Camp Firewood kids. The original movie starred a then-unknown Amy Poehler and Bradley Cooper alongside Janeane Garofalo, David Hyde Pierce, Paul Rudd and a host of other comedians, and they’re all back again for more. We Parks & Rec addicts will take our hit of Poehler any way we can get it, so the countdown begins now. (Photo via Netflix)
What are you excited to watch in January? Share 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