How much to put away for taxes

[Paul Rumolo]

Hello all, I am a newbie and about to close on a couple of properties here within the next month. Had a question in regards to how much tax money should I be putting aside each month from my monthly net income. Any feedback is much appreciated. Thanks

[Linda Weygant]

Originally posted by @Sam Shueh:

My CPA who provides 4 vouchers for Fed and same for State. Our chore is pay it on time.

 Ask your CPA to set next year's estimated taxes up in their software to automatically withdraw from your account on the proper due dates.  When they E-File for you, this request is submitted as well.  

Easy peasy, lemon squeezy.  

I then set up automated emails in my system to automatically remind those folks 2 weeks before the deadline that they will have an auto withdraw coming up.  They can cancel/change the amount if needed if they call the IRS 48 hours ahead of the withdrawal.