Submitted by: Muggs338
Gentlemen, this is a two part question.
I am less than 2 years away from retirement where Ill receive a comfortable pension and Ive grown a nice and respectable 457b. We plan on moving to Florida , though keeping our NJ business. I’ll make trips to tbe office here and there to check on things at the mental health practice. My wife can do most of what she does remotely. My question is do I become a W2 employee, pay the taxes or just draw as money is needed or wanted?
2nd Question: My wife has her mental health license in Florida now and we plan on starting a PLLC in Florida as her license dictates that is the kind of business formation she needs. What options are there if she hires some Floridian therapists, we two companies trading on same name, DBA…etc…any guidance on tax planning for Florida’s business in connection with what we already have. Primary business grosses just at the 7 figure mark in 2025.