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What can trigger tax in multistate telehealth practices? Have you ever heard of “nexus?” How can multistate telehealth practice owners proactively handle their taxes to avoid unnecessary hurdles?
In this podcast episode, Joe Sanok gives an update on Great Lakes Online Counseling: phone systems, accounting, nexus, and more.
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In This Podcast
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Where the practice is at right now
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Learning about nexus
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What’s coming up next
Where the practice is at right now
Joe decided that he won’t launch the social media platforms and content until the copy is all written and ready for the website.
So I have the LinkedIn page set up as a framework, but I don’t have the logo on there … So, I want to get some of that set up this week. (Joe Sanok)
Joe’s working on setting up Great Lakes Online Counseling’s Google Voice and Spruce for phone systems.
I want to make sure that we’re able to be professional but also to keep that risk down … We want our freelancers to easily answer the phones when we’re open! (Joe Sanok)
Next, Joe wants to learn the logistics of using a voice-over Internet connection to ensure that everything is HIPAA compliant. If you set it up right from the beginning, it smooths out any potential bumps further down the road.
Learning about nexus
Joe had a recent call with his accountant about setting up the financial side of Great Lakes Online Counseling, and that’s where he learned about nexus.
Nexus registration refers to the process of registering your business with the state because you have enough connection, or “nexus,” to that state to trigger tax or regulatory obligations … That could be a substantial thing as I move forward with growing this practice. (Joe Sanok)
However, the reason why this matters for Joe in Great Lakes Online Counseling, is that multi-state telehealth practices trigger nexus more easily than traditional businesses.
For patients or clients, therapy counts as services performed in that state.
We’re going to have to work with Headway to make sure that we break down each state and what percentage of the whole finances come in through each state. (Joe Sanok)
Joe’s going to work closely with Headway and Gusto to make sure that they manage however and wherever nexus is triggered in each state.
The accountant’s bottom line here is that you should assume nexus exists in any state where you have a licensed clinician working, a supervisor or admin employee, and regular therapy services delivered to residents. (Joe Sanok)
What’s coming up next
Once the website is up and running, Joe’s going to take content from his book Dating After Betrayal and rewrite it to use as blogs, content, and much more to get the ball rolling.
Come back next week to discover the progress that we’ve made!
Sponsors Mentioned in this Episode:
It’s no surprise 99% of businesses said the value they get for Gusto is worth the price. Here’s the best part: because you’re a listener, you get three months totally free. All you have to do is Click here!
Work with us one-on-one!
Books mentioned in this episode:
Joe Sanok – Dating After Betrayal: A Guided Healing and Re-Entry Experience
Check out these additional resources:
- Attachment Style and Rewiring It with Dr. Thais Gibson | POP 1330
- Practice of the Practice Network
- Group Practice Launch
- Group Practice Boss: www.practiceofthepractice.com/grouppracticeboss $149 a month
- PoP Group Practice Owners Facebook Group
- Free resources to help you start, grow, and scale
- Work with us
- Practice of the Practice Network
Meet Joe Sanok
Joe Sanok helps counselors to create thriving practices that are the envy of other counselors. He has helped counselors to grow their businesses by 50-500% and is proud of all the private practice owners who are growing their income, influence, and impact on the world. Click here to explore consulting with Joe.
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