First Flip, what to do with profit from flip?

[Junior Francica]

Hello everyone, made a post on here already about doing my first flip so wont get into the details about it. 

Something that I have been trying to figure out or learn is, what are my options with what to do with profit from the flip in terms of taxes. 

How much of the profit will be due on my taxes (generally speaking)?

Is there something I can do with the profit to not pay taxes on it? would a 1031 apply and be an option? 

Any help or direction would be greatly appreciated. Thanks!