You are unless you're fine with decreasing the quality of your files. While you can convert lossless to lossless as often as you want without any degradation,

You are unless you're fine with decreasing the quality of your files. While you can convert lossless to lossless as often as you want without any degradation, each time you convert a lossy source to another lossy format it'll decrease audio quality, similar to repeated JPEG conversion.