>There's no need to worry about taxes on profits, as long as you're in a country with a low tax rate. If you're in the US, then you can just let your P/L sheet talk to the IRS at the end of the year and they'll take care of everything for you. Otherwise, if you're in a high tax country, then it's probably best to pull out 20-25% of your profits and set them aside so that you don't have to pay too much in taxes.
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