Nellie Akalp

Business clients have additional tasks to tackle when branching out across the country.

As clients' businesses evolve, it sometimes makes sense for them to change how their companies are taxed.

There are ways the business owners can continue to operate in the other states.

Whether someone incorporates their business now as the year comes to a close or waits until the new year can affect their company in various ways.

It's critical that business owners comply with their state's rules, or they could face fines and other penalties.

If you have clients with employees in more than one state, they must pay attention to the payroll-related rules and tax responsibilities in the states where those staff live and work.

A professional title infers a level of authority, responsibilities and legal accountability, so it's important to choose wisely.

The Qualified Business Income tax deduction of 20% is set to expire in 2025 (unless it's extended), which may have clients who are starting a business wondering about the potential impact of their choice of entity.

With steep penalties of up to $500 per day for each day a BOI report is late, business owners will want to make sure they get theirs in on time.

Along with the possible requirement to file paperwork for establishing the corporation in the new state, there may be changes in tax responsibilities.