One of the beauties of virtual businesses is that you can live in one place and do business in another. Or, you can have home offices in two different states overseeing your business through online technology that reaches across the continent.
There are practices you can put into place that can make doing that not just possible but effective and efficient:
If your business is incorporated in a state where you don’t live, you may have to incorporate it in your home state as well. If you file for an LLC in the state where you do business, your home state is considered foreign. Doing business across state lines would put you in a Foreign LLC classification.
If you run a business, simple actions like designating a registered agent can make things run smoothly while you’re in another state. When you establish a registered agent, you outline major decision-making and processes. This way, you’re covered if anything serious pops up, like a lawsuit or tax notification. Before choosing a registered agent, check the rules in your state.
Living in two states and dividing your time equally in each one means you can take advantage of paying for things like health insurance and car insurance in the state with the cheaper options.
You may have more than you currently need if you’re downsizing your living space in each state when you’re dividing your time between them. Keeping your stored items in the state with the cheapest rates can save you quite a bit of money. Most cities have quite a few local storage units. For instance, if your home is in San Antonio, Texas, your 5×5 self-storage will run you about $60 per month. But if your home is in Virginia Beach, Virginia, that same unit can cost $120.
Moving With Your Family
If you’re keeping your business in one state, the place where you originally opened your business, but now wish to move to another state, it could mean a large upheaval for your family. Kids are pretty resilient and can probably handle change better than most adults, but they’ll still need some sense of familiarity or ownership in their new place. Let them help decide on the look of their new bedrooms. Allow them to choose paint colors and other decorations for their new room.
However, before purchasing any products for your family, you should read in-depth product reviews from unbiased sources.
Finding new friends can help everyone feel at ease in their new city. A local house of worship of your faith often provides a sense of belonging to a community. Keep in mind that no church will feel exactly the same as your old one, but remember that the right church will offer new experiences and opportunities for growth and spiritual discovery for you.
Consider the Cost of Living
The cost of living can vary a great deal from state to state. For instance:
- The average home price in Atlanta, Georgia is $425,000, while in San Jose, California, it’s 1,380,000
- The average price for childcare in Kentucky is $595, while in Maryland, that cost is closer to $1,300.
- If you enjoy dining out, you’ll notice price variations there too. For instance, a menu item in Michigan averages at just under $9, while in Hawaii, that number is $13.
- Car insurance is another cost that you’ll want to research. In Virginia, you can expect to pay $425 for minimum coverage and in New Jersey, you can expect it to run more than $800.
- Medical office visits may cost $85 in Alabama and $103 in Florida, which can add up in a hurry for a family.
Online Wellness Coaching
Women are often the bind that holds the entire family together, especially during times of stress, like moving to another state.
Help is available online and with workshops from Wellness and Life Coach Amy Walton Holy Grounding. Getting help from a faith-based coach and finding a place of worship to connect with your community is a great way to feel at home.
Understanding the need to properly register your business and keeping the cost of living in mind when budgeting can prevent a lot of headaches once you’ve moved. And getting the whole family on board with fun things to do can ensure your multi-state living arrangement feels natural and fulfilling.
Amy Walton is a certified life coach, yoga instructor, writer, and speaker living on the coast of Virginia. She coaches women around the country to live holistically vibrant lives of purpose, grounded in the love of God. Connect with her at firstname.lastname@example.org. This article was written in partnership with guest author Jason Lewis. Connect with Jason at email@example.com.