Our experience of many years, expertise and knowledge allows us to implement legal and legitimate tax-saving strategies. These strategies may include GAAP accounting for growers and processors that enable it to allocate additional deductions to Cost of Goods Sold (their only deduction). It may also include strategic acquisition costs to allocate to Cost of Goods Sold that others may not know of or know how to facilitate for retail, as well as a system for deducting non-cannabis general and administrative expenses. These expert strategies save our cannabis clients thousands and thousands of dollars in taxes year after year.

Our proprietary and detailed accounting work papers are designed to protect you in the event of a tax audit. In our § 280E analysis work papers, we document the nature of why we are allocating something to Cost of Goods Sold that makes it deductible; the supporting documentation is cross-referenced (e.g., payroll reports, floor plans, etc.), and all of our formulaic computations are included. We also have tremendously detailed GAAP work papers and absorption accounting work papers. Our high caliber of work, thoroughly documented work papers, and GAAP accounting, affords us more credibility in a tax audit. When we attain this credibility in a tax audit, we are able to be more persuasive in our arguments, exceptionally meritorious for grey areas of tax law.

Never worry about compliance
Explore new areas of the value chain to best position your cannabis business
Working capital management and support with better facilities
Higher profit margins
Implement proven strategies to help mitigate the punitive tax implications of IRC §280E
Get visibility into your operations + wastage using new management reporting
Help with all areas from seed to sale The Canna CPAs is a Premier CPA Firm Catering to the Cannabis Space.

We have a proven six-step process designed to increase our clients' profit margins and cash flow. As your part-time CFO, we meet with you regularly to guide you on how to increase your profit and cash flow in your business. We track your profit and cash flow, analyze your strengths and weaknesses with KPIs and analytics that focus on the drivers of your business. We set objectives and propose corrective actions. We do this every month so that your business meets its financial targets. Our clients know exactly what to focus on to have a more profitable business and increased cash flow. Also, we help prospective licensees with budgeted proforma financials designed to attract investors or for license applications.

An exit strategy is a vital consideration for business owners, however, it is often overlooked until substantial changes are necessary. In the absence of planning an exit strategy that informs the appropriate business direction, entrepreneurs risk limiting their future options. To ensure the best outcome for your business, one must plan their exit strategy before it is time to leave. Whether you keep or sell your business, a well-executed transition strategy can enable your business and family to flourish for generations to come. Our strategies afford you the advice that has helped so many other business owners succeed during this phase. An exit strategy provides a business owner a way to reduce or liquidate their stake in a business and, if the business is successful, make a substantial profit. If the business is not successful, an exit strategy--a plan--allows the entrepreneur to limit losses.

We can help advise and consult on various matters such as entity structure, tax scenarios, cannabis case law, labor issues, exit plans, contractual topics, etcetera. We can also help formulate simple contracts, form new entities, obtain certificates of good standing, and more.

We strategically and successfully help clients navigate their tax audits by analytically planning and negotiating their cases. We also successfully handle collection cases. Other representation services that we offer include back-year tax return filings, amending returns, and installment agreements. Our combined experience of many years representing taxpayers and our experience in the cannabis space make us the perfect cannabis CPA firm to represent you before the IRS or State.

We know accounting & tax, we know finance, we know cannabis, and its operations. We are your go-to marijuana CPA firm possessing the necessary expertise and knowledge.

We offer: Tax Planning, Tax Preparation, § 280E Strategic Expertise, Outsourced CFO services, Budgeted Financials, Advisory Services, Managerial Accounting, Rolling Cash Forecasts, GAAP Financials, Accrual Cost Accounting, Bookkeeping & KPI Performance Metrics