Okay finance lawyers. I don't understand this issue. Client says books show we're highly profitable but we have no way to pay our tax liability.... Well where the hell did tbe money go ? Client also claims that they are only taking a small portion of the revenue as profit. I don't understand how your books can be different than reality.

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I'm wondering how they calculated "highly profitable" using a system that ignored tax liability as a known expense, tbh.

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Agreed.

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I guess this is what I'm getting at. How is cash flow different than profits? I understand maybe a 30-60 day lag time on some things but not enough where it's making this big of a deal.

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