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2nd home business/ tax benefits
I am a sole proprietor LLC licensed psychologist in the state of Texas where I have a private practice that operates both virtually and a via a physical brick and mortar location. I am now licensed in the state of Florida, where I alreadyy own a second home since 2019. Our mortgage is specific to ownership as a “second home” and not as a “vacation property”. I now see clients from the state of Florida on a weekly basis (virtually/telehealth) whether I am in Florida or in Texas. I have the opportunity to work virtually and in-person in either state, as long as the client I am seeing is currently in the state in which I am licensed.
Our condo ownership is under our personal names and not my business name (although, I am a solo proprietorship/ LLC, not a corporation).
I see clients every week with a mixture of them living in Florida and in Texas because I am licensed in both states I can legally see them no matter which state I am in physically at that time. How can I use my working time in Florida to benefit my business and tax structure? I live in both states and I travel back-and-forth throughout the year. I often travel to Florida and during my time in Florida I see clients who live in that state because I am licensed in that state. My Florida address is listed under my license on file with the Florida State department Mental Health licensing. What can I do here? What should I not do here?