Exit Strategies
4.Have financial reports for the past three years. The balance sheet and income statement together make up the key business financials. Being able to tell
April 16, 2022
4.Have financial reports for the past three years. The balance sheet and income statement together make up the key business financials. Being able to tell
280E is such a punishing tax burden for cannabis businesses. Corporations are paying the IRS 25% or more in income taxes than a regular business.
This blog lists the major cannabis taxes and other information with links to the government website. (Look back often as this calendar is updated periodically
After reading this blog, you should have a better understanding of the process for year-end Tax Planning, P&L planning, and variance reporting. This blog is
Planning, Forecasting, Variance Reporting. If you’re not doing this, then you are just being reactive. But how and when? Watch this short tutorial for a
Bookkeeper > Accountant > Controller > CFO > CPA Watch this video to get informed over the different levels of Professional
SOPs are critical to have in place as your business is forming and growing. These written procedures allow for easy transition of knowledge from employee
All businesses are required to pay estimated taxes quarterly. Due dates for estimated tax payments Payment When Income Earned Due Date 1st Payment January 1
As your business evolves you have to consider the best structure for legal protection and for optimal tax savings. Legal structures are defined by States,
Retailers pay the excise tax to distributors who remit it to the state. The tax collected by distributors is 15% of the wholesale price plus
A 1031 exchange is an allowed method to avoid paying capital gains tax on investment property. If you own property, either personal rental or for
California Assembly Bill (AB) 141 passed the Senate on July 1st, 2021 and is expected to be signed into law by Governor Newsome. Some of
It appears Apple will now allow Cannabis apps on their platform. An app can certainly help retailers streamline the ordering process. Is all about reducing
On April 12, 2021, the Marijuana Business Journal published an article providing additional detail on the extent the IRS will push through to collect extra
On September, 2020, the IRS published an frequently asked questions (FAQs) to assist cannabis license holders with various aspects of tax compliance. From this FAQ
The accounting cycle for Cannabis businesses, as for regular business, starts with the procurement or purchasing of goods and services to make your products. Continuing
The IRS requires you to report when you get paid cash in excess of $10k in a single transaction or multiple transactions over a 12