Putting aside money for taxes

[Morgan Nilsen]

Just closed on my first house in america 2 days ago! As a foreigner its a little scary trying to tackle taxes. So I'm trying to get some basics down before i dive into the details.

I bought a house in Indianapolis. Price aprox 50.000, with a rental income of 750 pr month. I don't have a mortgage, and I believe my property taxes are about 800 per year. 

How much money should i put aside per year to be sure I have enough to cover my other taxes? 

I do understand that it will depend on my write-offs, but I want to be certain I have enough.

Does 175 per month sound like a lot? thats 2100 in a year when expecting a rental income of 9000?

[Matt Motil]

For only one property, I don't think you'll have any other taxes aside from property taxes. With actual expenses and depreciation costs, your income should be wiped out (on paper) which would alleviate you from any income tax burdens from operating the property. Best bet though would be to talk to a CPA (tax professional) that is familiar with foreign nationals owning and operating income property in the USA.