Weed CPA Archives - Cannabis CPA, CFO, Bookkeeping & Accounting Firm

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…

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…

15 Nov 18

Why Cannabis Business Needs Public Accountants?

Wanna know why cannabis business needs public accountants? SandySandy Suchoff, CPA is the Founder and principal of Lefstein-Suchoff, CPA & Associates, LLC D/B/A The Canna CPAs. Suchoff has been featured and interviewed on MSNBC, FOX News, and Tune In Business Talk Radio as a tax advisor, as well as ONR…

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…

26 Sep 18

The Canna CPAS: How Can We Help You?

Are you looking for the canna CPAS help? We have some different ways to help you out from the cannabis: We are here to help you out. We can help you lower your taxes for cannabis entities. We offer GAAP cost accounting services to cannabis business that can help you…

28 Jun 18

How Cannabis Businesses Can Be Taxing: IRC 280E

Although a marijuana business is illegal under federal law, it remains obligated to pay federal income tax on its taxable income because the law does not differentiate between income derived from legal sources and income derived from illegal sources. Everyone in the space knows at least a little about the…

Weed CPA

IRC § 280E & Cannabis-Touching Businesses

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

Who Needs to File Form 8300?

Why Cannabis Business Needs Public Accountants?

What to Look for When Choosing Your Cannabis Accountant

The Canna CPAS: How Can We Help You?

How Cannabis Businesses Can Be Taxing: IRC 280E

Evaluating Investment Opportunities in the Cannabis Industry

Cash Management Solutions for Cannabis Businesses

What Do Investors Look for in a Cannabis Business?

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