Our Mission
We Help Cannabis Businesses Become More Profitable!
We accomplish this through a myriad of ways, including strategic tax planning, proper cost accounting, budgets, rolling cash forecasts, managerial accounting, and Key performance analytics..
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CFO & Advisory
• The Canna CPAs can assist you within the capacity of a Chief Financial Officer. These functions may include: financial planning, understanding of your indigenous financial workings, management of financial risks, cash flow management, budgeting, and rolling forecasts. We also can perform ROI analyses and monitor key performance indicators. • Our first step in assisting would be through a thorough IRC 280E analysis of your business. We are always eager to consult with our clients to offer suggestions to meet the cannabis owners' financial and compliance objectives. We want to help you in every step and in every way for all matters that affect your financial peace of mind. • We offer high-level Advisory services to consult on such things as: the best entity structure for your situation, start-ups, exit plans, legal matters, etc. • We consistently train and educate your staff on business operations and accounting to help maintain compliance. • Our cannabis accountant firm is affiliated with a network of professionals who can assist you with legal matters, licensing applications, and technical assistance in your industry so that you can truly be the master in this space. -
Accounting & Bookkeeping
• Cost Accounting is required to be consistently performed in order to allocate and maximize your deductions. The Canna CPAs know how to efficiently utilize this for the cannabis touching client. Our Cannabis CPA firm knows how to properly allocate indirect costs to Cost of Goods Sold pursuant to the Internal Revenue Code so that your business will be afforded the maximum deductions allowed by law to lower your taxable income and lower your taxes! • Our cannabis CPA firm can perform your cannabis bookkeeping, or alternatively, we can review your cannabis bookkeeper's work and make the necessary adjustments to facilitate proper Cost Accounting to allow for the maximum allowed deductions. • The Canna CPAs offers full-service payroll services with an added Human Resources touch. We can help you delineate the proper job functions and set up a daily process to document this so that many salaries will be allocable to Cost of Goods Sold legally to increase your deductions and lower taxable income. -
Tax Planning and Preparation
• The Canna CPAs look for opportunities to save taxes within the confines of IRC 280E. • We have the knowledge and know-how to properly and efficiently prepare tax returns for the cannabis touching entity. These tax forms include: 1040 with Schedule C , 1120, 1120S and 1065. • Our Cannabis Accountant firm assists with State Sales Tax and State Excise Tax. • Our Cannabis CPA practice helps with choosing the appropriate business structures and facilitates these business formations for you. • We are an integral part of assisting you with modifying and developing Systems, policies and procedures. -
IRS Cannabis Audits & State Cannabis Audits
• For over 20 years we have been representing taxpayers before the Internal Revenue Services. The combination of our audit experience and expert knowledge with IRC 280 E enables us to afford you the best representation for any IRS cannabis audit. • Our Cannabis Accountant firm prepares and maintains meticulous records and corroborates these with our work papers. There is a sound basis with backup documentation to evidence how we legitimately allocate your Cost of Goods Sold deductions pursuant to the Internal Revenue Code section(s) that governs this. • The cannabis industry is statistically more likely to get audited and possesses a significantly higher risk than other types of businesses. We understand this, and our policies and procedures minimize your risk of the IRS disallowing deductions. •State tax compliance is our priority. The IRS s also more likely to pursue an audit if you violate the State law!
HOW THE CANNA CPAS CAN HELP YOU NAVIGATE 280E
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