How to handle my Flip profits???

[Justin Veloz]

I’m in the process of doing my first flip.. I’ll be getting anywhere between 35-42k depending on how fast I can sell.. 

Once I get my profit.. then what?? I have an LLC.. obviously I would want everything going directly into that? Right? my question is then what? How do I plan for taxes? Can I reinvest on another flip.. any tricks to combat the IRS? what do most flippers do with their profits? Do you pay yourself? If so, why or why not ?

I spent so much time researching how to flip.. I never really thought about the next step.. 

Thanks

Justin