15% Taxes for flipping?

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Hey everyone,

New to this. (Read a few books) but was wondering about the 15% tax on flipping homes since your considered a business. Is it 15% in every state? If not, how do I figure out what all my charges will be? Not sure who to talk to..

Flipping profits are ordinary income, taxed at whatever your personal rate is that year (not a straight 15%) plus 15.3 % ss/med self employment tax (both sides) for federal taxes....your state tax will vary.