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Updated over 3 years ago,
LLC - Best way to pay “the man”… and myself
Hello BP,
I am currently in the process of transferring my first multi-family property into an LLC. As with any first in this world, it's an intimidating process, and I have two questions before I dip my toes any further. I'm currently active duty military, stationed overseas in Japan while beginning this journey, so all of my relationships have been built virtually, or from previous connections. Here are my major concerns/questions below:
1) HIRE CPA: Despite this being my first property (in the process of purchasing a second), is it recommended to utilize a CPA. I have also explored the possibility of subscribing to a virtual CPA platform. My biggest weakness as
An investor is most definitely in the tax/legal aspect, and I believe while being overseas an online entity could increase the possibility of further developing my knowledge on the topic through FaceTime/Skype style interactions. Any other insight on this is greatly appreciated.
2) PAYING MY COMPANY AND MYSELF: I'm extremely ignorant as to how I can put myself on the payroll once the home is setup in the LLC. I've done my googling and research, but it's still clear as mud. The goal being continued growth and additional properties, I am lost as to how I can add additional capital into my LLC as well as may myself when necessary. Are there any books/links/tutors/billboards/YouTube videos you lovely humans have to offer on this topic?
Thank you,
Jordan Hansen