I press when the must is below 1.000 but still active. From there is goes in carboys for 1 to 3 weeks, so fermentation is complete and gross lees have mostly dropped and compacted. I rack and degas at this time, so additional sediment drops faster. Depending on sediment droppage I rack again between 1 week and 3 months later.
The old rule was to rack and add K-meta every 3 months. However, I'm seeing evidence from folks on this forum that racking at longer intervals is fine. If you're testing SO2 levels, check every 3 months and add as needed. If you don't check SO2 levels (I don't) add 1/4 tsp K-meta per five gallons every 3 months.
How long to bulk age is up to you. If you are not adding oak and the wine is clear (no sediment for 2 weeks) you can bottle as early as 4 months. Personally, I wouldn't bottle before 6 months, but that's a personal preference.
If adding oak adjuncts (chips, cubes, spirals, staves. etc.), I typically leave them in 3 months and bulk age at least another month after that.
If in a barrel, the wine stays there until the next wine is ready to go in, roughly a year. Regardless of when you bottle, don't open a bottle for at least a month as wines often go into bottle shock, which goes away relatively quickly.
Most reds benefit from a year of aging (bulk and/or bottle). Regardless of what you decide, make sure the wine is clear and not dropping sediment for at least a few weeks before bottling. Sediment in the bottle isn't necessarily bad, but it detracts from the appearance of the wine. A bit of patience is all that is required.