Starting out... help me understand the tax man

[Carson Wilcox]

So. I am starting out, working on a deal right now where I will partner as a JV on a SFH with an experienced investor. At the end of any flips we do, I will get a check and a 1099 at year end...

What I want to know is how to minimize the tax bite.  If I reinvest that $ in another property in the calendar year... does that hide it from the tax man...?  As far as I am reading, this is treated just like straight side income... not business income.

I have a C corp (family business ramping down) that I am planning to close.  I could keep that open and funnel the $ through there, the only issue is I am using personal funds (heloc) as my seed $.  Plus that tags me for $800 a year in California minimum business tax...  

thanks for any insight