I was initially leaving it in a high yield savings account, wealthfront and mercury are great options for this, specially with the automated transfer. However, I would also discuss with an accountant to better offset taxes with property. Use the high-yield to save up for taxes, but if that can be safely allocated into a commercial property with a guaranteed 10-year lease, has much better returns on your money and tax free. Don’t forget to setup a 1031 exchange in case the economy turns or your business, so if you need to sell, specially with the added value of a long-term tenant, you can sell for a profit without being subject to capital gains tax!
I was initially leaving it in a high yield savings account, wealthfront and mercury are great options for this, specially with the automated transfer. However, I would also discuss with an accountant to better offset taxes with property. Use the high-yield to save up for taxes, but if that can be safely allocated into a commercial property with a guaranteed 10-year lease, has much better returns on your money and tax free. Don’t forget to setup a 1031 exchange in case the economy turns or your business, so if you need to sell, specially with the added value of a long-term tenant, you can sell for a profit without being subject to capital gains tax!