Sandy, Author at Cannabis CPA, CFO, Bookkeeping & Accounting Firm - TheCannaCPAs

14 Aug 23

Understanding Cost Accounting for Cannabis Cultivators, Processors, and Dispensaries

What is Cost Accounting? Cost accounting plays a crucial role in the cannabis industry, where cultivators, processors, and dispensaries face unique challenges due to strict regulations and rapidly evolving market dynamics. Accurate cost accounting provides valuable insights into the profitability of various operations within the supply chain. In this blog,…

07 Aug 23

Managing Cash Flow in the Cannabis Industry: Challenges and Solutions

What is Cash Flow Management ? Cash flow management is a critical aspect of any business, and the cannabis industry is no exception. While the cannabis market is experiencing rapid growth and expanding opportunities, it also comes with its unique challenges. Cannabis businesses must navigate regulatory hurdles, limited access to…

31 Jul 23

Exit Planning for Cannabis Businesses: Securing Your Future Success

For cannabis entrepreneurs seeking to exit their businesses, strategic planning is essential to ensure a smooth transition and maximize value. At The Canna CPAs, we are certified exit strategists specializing in the cannabis industry, and we can help guide you through the process with a comprehensive approach. Our seven-step exit…

24 Jul 23

Underscoring Proper Record Keeping for Cannabis Businesses

Cannabis businesses are subject to unique legal and regulatory requirements, and proper recordkeeping and accounting are essential for success in this industry. In this blog, we will explore the importance of proper recordkeeping and accounting for cannabis businesses. Compliance with Regulations Cannabis businesses are subject to a range of state…

17 Jul 23

Management Companies for Cannabis Businesses and Alternative Health Care v. Commissioner

As the cannabis industry continues to grow and evolve, businesses are faced with unique legal and regulatory challenges. One area that has gained attention is the use of management companies to provide services to cannabis businesses. While the use of management companies may seem like a viable option, there are…

10 Jul 23

Edmunson VS Commissioner

Edmundson v. Commissioner is a landmark case in the history of US tax law. The case involved Jeffrey Edmundson, who was in the business of selling amphetamines, cocaine, and marijuana. The IRS assessed his income when he was arrested for drug trafficking. Edmundson claimed that he was entitled to certain…

accounting for cannabis touching businesses

03 Jul 23

IRC § 280E & Cannabis-Touching Businesses

As the cannabis industry continues to grow and evolve, it’s important for businesses in this sector to understand the unique tax implications they face. One of the most significant tax regulations affecting cannabis businesses is Internal Revenue Code (IRC) 280E. This regulation prohibits businesses from deducting expenses related to the…

29 Jun 23

The Marijuana Industry’s Growth Demands Better 280E Tax Compliance and Guidance

Marijuana, classified as a Schedule I controlled substance under the Controlled Substances Act, faces unique challenges in the business world. One major hurdle is the limited banking access for marijuana businesses. Moreover, these businesses are subject to a specific tax provision, Internal Revenue Code (I.R.C.) Section (§) 280E, which prevents…

26 Jun 23

How Cannabis Companies Can Avoid an IRS Audit

Avoiding an IRS Audit As a cannabis business owner, the last thing you want is to be hit with an IRS tax audit. Audits can be time-consuming, costly, and stressful, and they can also damage your business’s reputation. Fortunately, by working with an experienced and expert cannabis CPA firm, you…

19 Jun 23

Why Cannabis CEOs Should Only Work With A Top-Notch Cannabis CPA Firm

Why should you hire a Cannabis CPA? As the cannabis industry continues to grow, so does the need for specialized financial services. One crucial aspect of this is working with a cannabis-focused CPA firm. While any CPA firm can technically work with a cannabis business, there are several reasons why…

Sandy

Understanding Cost Accounting for Cannabis Cultivators, Processors, and Dispensaries

Exit Planning for Cannabis Businesses: Securing Your Future Success

Underscoring Proper Record Keeping for Cannabis Businesses

Management Companies for Cannabis Businesses and Alternative Health Care v. Commissioner

Edmunson VS Commissioner

IRC § 280E & Cannabis-Touching Businesses

The Marijuana Industry’s Growth Demands Better 280E Tax Compliance and Guidance

How Cannabis Companies Can Avoid an IRS Audit

Why Cannabis CEOs Should Only Work With A Top-Notch Cannabis CPA Firm

Best Accounting Practices for the Cannabis Industry

Key Financial Mistakes to Avoid in Cannabis Businesses

Top Financial Planning Tips for Cannabis Entrepreneurs in 2025

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