Best Tax structure on flips?

[Vincent Plant]

A friend an I have recently started flipping.

We are about to close on our first one and have a nice profit coming in. We are under contract on our second one and are anticipating making a decent amount on that as well.

Here's the thing, we didn't open an LLC, we bought in our personal names. I'll be talking to our accountant shortly but what are some tips on protecting your gains from Uncle Sam?

This is in Pennsylvania.

Thanks,