accounting

record keeping

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…
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accounting for cannabis touching businesses

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…
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irs audit

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…
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