All Forum Posts by: J Zev J.

Good advice!

@HJ Wang - It looks like the free version for that software doesn't do payroll deposits but the paid version might. You probably should reach out to them to clarify which plan you have and if they'll be submitting the payroll taxes to the IRS and state on your behalf. 

@Tom Seigold - Please check out the IRS Publication 523 pages 13 and 14. It discusses your question. 

@HJ Wang - Which payroll software are you using? Most of the time, the software will withdraw and make the deposit for you. 

@Ronald Weiss - Most of the CPAs on BiggerPockets specialize in real estate. You can reach out to them and explain your real estate investment and tax situation to see if they’re a good fit. Most of them serve clients in all 50 states. 

@Donald John Kuebel - It's sometimes difficult to find a CPA who both specializes in real estate and is located close to you in Baltimore.

There are lots of good CPAs and Enrolled Agents on Bigger Pockets who work remotely and have clients all over the country. You can just reach out to them and determine which one fits your needs the best.

@Tyler Guptill - Research househacking and see if that will work for your situation. You can get the best of both worlds (permanent residence and investment) in the same shot. 

@Dustin Cramer - Where in Pennsylvania is your property located?

@Patrick Rich - It's sometimes difficult to find a CPA who both specializes in real estate and is located close to you in New Jersey.

There are lots of good CPAs and Enrolled Agents on Bigger Pockets who work remotely and have clients all over the country. You can just reach out to them and determine which one fits your needs the best.

@Reema Hassan - I don't know if it's overpriced but your management fees look really high. They're normally around 10%.