How do I allocate a percentage of funds to my Tax Planning account?
You can set a percentage of your earnings to go into your Tax Planning account using the Auto-Deposit Rules, found in the Wallet tab of reZEN. Once the rules are configured, the specified percentage will be automatically transferred to your tax planning account. The rules can be edited at any time!
For more detailed instructions: Understanding Auto Deposit Rules
As a single check agent, how do I contribute to my Tax Planning account?
If you’re a single-check agent, commission is disbursed to Real, and Real will distribute the percentage of the funds to the Wallet accounts selected within the Auto Deposit Rules. If you’ve opted into the Tax Planning account and selected a percentage to set aside for taxes, Real will distribute the funds to your account once the transaction closes, and you will see the amount in the Wallet and Outgoing Payments section in reZEN.
Single check agents will not see a ledger entry for the Tax Planning account deduction on the CDA, as earnings are sent to Real, and Real will distribute the selected deduction to your Tax Planning account.
As a split-check agent, how do I contribute to my Tax Planning account?
For split-check agents, commission is paid directly at the closing table by the title company. To help agents set aside taxes, the percentage selected for the Tax Planning account within the Auto Deposit Rules is deducted before the disbursement of commission and is reflected on the transaction’s CDA as a ledger entry labeled “Tax Planning Deposit.” The entry can be found at the bottom of the CDA within the Payment Participants section, and by clicking on the drop-down arrow next to Real.
See: Understanding Tax Accounts for Split-Check Agents
Why isn’t the tax deduction showing up on my CDA?
For single-check agents or transactions processed as single-check, you will not see a ledger entry for your tax planning contribution. This is because Real receives the earnings and then distributes your contribution to your Tax Planning account.
Does my money earn interest in the Tax Planning account?
Currently, Real Wallet accounts don't accrue interest, but they are accumulating rewards that will soon allow you to lower your transaction fees and commission splits!
For more information, see: Real Wallet Rewards
As a split-check agent, can I contribute to my Real Wallet and Tax Planning account?
At this time, split-check agents can only use one Wallet account, specifically the Tax Planning account. To contribute to both your Real Wallet and Tax Planning accounts, you will need to opt in to single check payment to have the option to split your earnings between the accounts. Alternatively, you can allocate a larger percentage to your Tax Planning account and then transfer funds to your Wallet account using the Send Money feature.
I would like to access Real Wallet Capital. Can I do that with just the Tax Planning account?
A Real Wallet Business checking account is required to gain access to Real Wallet Capital.
Does the Tax Planning account include a debit card?
There is no card offered with the Tax Planning account. Your Tax Planning account is designed to help you easily save a portion of each transaction for your tax obligations, much like a dedicated savings account.
How do I move funds out of the Tax Planning account without a debit card?
Moving money from your Tax Planning account is easy and doesn't require a debit card. You can simply use the "Send Money" feature in reZEN.
For detailed instructions, see: Transferring Money from Your Real Checking Account(s)
Where can I find the routing and account information for the Tax Planning account?
The routing and account information can be found in reZEN by navigating to the Wallet section and then selecting Account Balance > Account Information.
For detailed instructions, see: Finding Your Real Wallet Account and Routing Information