When you flip a home do you have to pay income taxes on top of capital gains taxes? Thanks.

Depends on what you consider flipping. If you mean buy and immediately sell the taxes you pay will depend on if you are a corporation and what type and or if you are buying these in your name.

Tax planning and assett protection planning are 2 different items you need to focus on. You need to spend an hour with a cpa that deals with investors who can answer your specific questions.

Thank you very much for the advice

I highly suggest spending a little time with a good CPA that understands real estate. You don't have to have them prepare your taxes, but discussing strategy is more than worth the consulting costs.

Review new state laws that may apply to fippin. Might need to be a GC.

There are some good books/courses on this subject. Search for Dianne Kennedy, she was the CPA on the Rich Dad series of books. Her website (sorry, I can't post links yet) has lot's of info on these kinds of questions.

I think it would be best to sit down with a cpa in your area. be prepared to pay around $75 which can be taken off your bill if you do business with them.