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Question about taxation - Hey! Let's say I finished Flip and currently I have profits how do they convert them to spending at the end of the tax year?

** Question about taxation ** Hi! Suppose I finished a flip and I currently have profits on the deal and I want to understand how these profits can be converted into expenses by the end of the tax year, so if I enter into a new flip deal and have renovation expenses higher than the profits I made in the previous deal, is it true to say a company did not actually make a profit Right…

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