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A lot of people have this idea that they can just open a shop in whatever state they want and just send the paycheck to the person working remotely. Well, it’s actually more complicated than that because there are some things you need to consider to ensure compliance when it comes to hiring from outside of your state.
At The Bottom Line®, we’ve been doing this for almost 10 years now, and so, we’d like to share with you what has worked for us – and not. Joining us today is Chris Mahler, our strategic partner and compliance consultant here at The Bottom Line®.
In this episode, we're diving into what you need to know and understand about building a team across multiple states. Sure, it’s a nice idea to believe you can hire anybody from anywhere. But then you’ve got to start counting the cost and what that actually means administratively, financially, and from a tax perspective. Don’t freak out or get worried about all this because there are experts who can do all this for you. But at least you want to be able to see around the blind corners when it comes to making decisions around payroll.
In this episode, you will hear:
- How states have different laws and statutes
- Factoring in states that are more advantageous than others
- Why hire your first employee from the state you’re in
- What “nexus” means and the types of nexus
- Why partnership is important in your business
- Choosing your payroll provider
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