Blog

29 Mar 22

Section 280E: Why It’s Important to Cannabis Investors

If you’re a cannabis investor or cannabis CEO, you need to be aware of Internal Revenue Code Section 280E. Section 280E disallows any business that “traffics in controlled substances” from taking regular tax deductions or credits. The legislation makes it more difficult for drug “traffickers” to operate profitably. While it…

23 Mar 22

3 ‘Tricks’ To Avoid In Cannabis Accounting

The marijuana industry’s legality is still just a few years old in many states. Some cannabis accounting firms are still finding their feet and determining the best procedures for their customers. The cannabis sector is expanding, bringing a new set of accounting issues. As more and more businesses enter the…

March 30, 2020

All of us have in some way, shape or for form have been adversely affected by the Coronavirus. While this is not indigenous to cannabis, this is information that may prove to be of great value for you or people you know. TAX EXTENSIONS From the Internal Revenue Service: The…

March 30, 2020

Suchoff Takes Cannabis Accounting Passion National CPA TRENDLINES ARTICLE 01/30/20: She cites the usual complications: 280E, the dearth of banking services. Sandy Suchoff’s initial interest in cannabis came when a family member had an immune deficiency condition. The treatments seemed almost as hazardous as the disease itself. Medications came with…

20 Aug 19

CAN OTHER RELATED CANNABIS BUSINESSES POTENTIALLY BE SUBJECT TO 280E?

There is an Internal Revenue code Section IRC 482 which allows the IRS to make allocations to ensure that taxpayers clearly reflect income attributable to controlled transactions and to prevent the evasion of taxes. Found in the statutory language of IRC 482 , there are three basic prerequisites before this…

19 Jun 19

Who Needs to File Form 8300?

As we are all probably aware, it is very difficult for cannabis businesses to obtain bank accounts. Consequently, these businesses are forced to operate with large amounts of cash. Accordingly, it is of paramount importance that cannabis business owners and its staff are cognizant of Form 8300. The general rule…

02 Dec 18

Still Unwinding From MJBizCon in Las Vegas! Here are Some of our Key Takeaways.

It was great seeing and meeting many of our existing clients, and we also really enjoyed meeting many of you for the first time in Las Vegas at the MJBizCon. Our 280E session was packed wall-to-wall and we were happily overwhelmed with the audience’s responses and questions. This session included…

21 Nov 18

Cannabis Bookkeeping & Accounting Strategies

With cannabis legalization spreading like wildfire throughout the country, the marijuana industry is fast on its way to prosperity. The cannabis business landscape is becoming increasingly competitive and cannabis firms that do not adapt their financial strategies accordingly find themselves facing complex financial troubles. Not staying up-to-date with federal regulations…

15 Nov 18

Why Cannabis Business Needs Public Accountants?

Wanna know why cannabis business needs public accountants?

13 Nov 18

What to Look for When Choosing Your Cannabis Accountant

With an average of $10 billion made in 2018 and an expected increase to $20 billion in the next coming years, the cannabis business is thriving and prospering. The market for cannabis is growing rapidly and more and more avenues are opening up to streamline its supply. With so much money…

Section 280E: Why It’s Important to Cannabis Investors

3 ‘Tricks’ To Avoid In Cannabis Accounting

CORONAVIRUS & RECENT TAX LEGISLATION

CPA TRENDLINES ARTICLE 01/30/20: Suchoff Takes Cannabis Accounting Passion National

CAN OTHER RELATED CANNABIS BUSINESSES POTENTIALLY BE SUBJECT TO 280E?

Who Needs to File Form 8300?

Still Unwinding From MJBizCon in Las Vegas! Here are Some of our Key Takeaways.

Cannabis Bookkeeping & Accounting Strategies

Why Cannabis Business Needs Public Accountants?

What to Look for When Choosing Your Cannabis Accountant

Cannabis Business Valuation: What Actually Moves the Multiple

Cannabis Vending Machines & Micro-Retail: The Compliance Blind Spot

Reading Your Cannabis Balance Sheet: 5 Numbers That Predict Trouble

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