About Programs Testimonials Press Blog Contact Franchise Opportunity Login

Taxation, 280E, and the Challenges of Accounting for Cannabis Dispensaries

280e 471 cannabis dispensaries Dec 19, 2022

From cash control and management issues to correct reporting, to seed to sale and POS software, providing quality accounting for Cannabis dispensaries is not easy. Furthermore, make the wrong move and you could incur large penalty fees for your client, land them in serious legal trouble, or both. 

Currently, there are hundreds if not thousands of accounting professionals claiming to have Cannabis accounting experience but they’re making big mistakes. Misinterpreting the tax code in...

Continue Reading →

5 Keys to Being a World Class Cannabis CFO

Whether you’re looking to serve Cannabis startups as a world class CFO or are a Cannabis CEO in the making, knowing what it takes to properly position the company for success is imperative. 

Now, we don’t say all of this to scare anyone away or to be gatekeepers in any form or fashion. We say this so that all parties can know what is needed in order to do well in this niche. We want this niche to thrive, and not die on the vine because the blind are leading the blind into...

Continue Reading →

Expert Advice: Cannabis Licensing in Various States, Being a Changemaker & What’s Next in the Industry

David Alport, co-founder of Bridge City Collective, started his Cannabis career in 2009 as a medical Cannabis cultivator in Oregon, after receiving his BA in Business with a focus in Finance from the University of Puget Sound, a career at Nike, and stint as a trader at the Mercantile Exchange in New York.

Today, David is the co-founder of two cultivation sites and two of Portland, Oregon’s first licensed dispensaries. Now, more than a decade since he joined the industry, he and business...

Continue Reading →

5 Crucial Keys for Social Equity Cannabis License Applicants

As they say, knowledge is power. Social equity applicants for Cannabis licenses have a number of important things to stay on top of as they apply for licensing and work to raise capital. Among them are a great and grounded pitch deck, a well-thought-out capital and entity plan, a bullet proof financial model, appropriate entity and funding structure, and the right team, including a qualified CFO.

Whether you are a social equity applicant or want to help those who are seeking licensure in...

Continue Reading →

Managing & Safeguarding Cash Flow for Cannabis Businesses

Many Cannabis businesses such as dispensaries, manufacturers, and cultivators tend to have a lot of cash on hand, even six-figure amounts, due to there being a lack of available banking services and solutions. Obviously, safeguarding massive amounts of cash is essential to day-to-day operations but there are many other reasons why managing cash flow matters greatly. 

With improved cash flow comes greater peace of mind, greater profits, and better forecasting. That’s not all. A...

Continue Reading →

AICPA’s 2022 Conference Recognizes the Growing Need for Practiced Cannabis Accountants

Last year was a landmark year for the Cannabis industry with the AICPA (American Institute of Certified Public Accountants) acknowledging the potential for career growth in this rapidly expanding sector.

Now, just one year later, the Cannabis industry is nowhere near finishing its climb; instead it’s expanding as more and more states get on board with legalizing Cannabis. This year there is an entire Cannabis conference dedicated to bringing together industry leaders, including a more...

Continue Reading →

Cultivation Accounting and Tax for Cannabis Business Owners and Investors

If watching the pioneers in the Cannabis industry has taught us anything, it’s that getting businesses up and running and maintaining compliance has been a rocky road with plenty of tax and regulation pitfalls. It’s a lucrative industry slated for exponential growth. Experts predict the industry will breach $89 billion in the next two years – but those aren’t the only numbers that should concern new Cannabis business owners.

Along with growth in this industry comes...

Continue Reading →

The Value Cannabis Accountants Provide for the Pre-Revenue Process

In order to apply for a Cannabis business license, state and local agencies often have similar (but different) requirements and hoops that hopeful operators must jump through in order to make it through the process. The licensing process is daunting and expensive for the simple fact that states' and local jurisdictions' requirements make it so that the prospective license holders may have to shell out thousands (or even millions) of dollars, and/or be on the hook for that much in...

Continue Reading →

Your Guide to Cannabis Real Estate, 280E, and Entities

Did you know that finding a location and going through the permitting process is one of the first things that Cannabis licensing authorities are asking for from applicants? One of the greatest challenges that Cannabis business owners face is finding a place to operate. Just because Cannabis is legal doesn’t mean that local authorities will allow operators in their jurisdiction. Then there’s zoning and dealing with the community at large to approve an incoming Cannabis business.

...

Continue Reading →

The Current State of Cannabis Accounting (and How You Can Get Involved)

Ever since the green wave of Cannabis started sweeping the nation, the state of bookkeeping and accounting has been changed as we know it. With more and more states legalizing both recreational and medicinal marijuana, the need for experienced accounting professionals is higher than ever.

But Cannabis Accounting isn’t as simple as one may hope. You may be familiar with some of the rules and regulations put in place from 280e and 471, but do you know the extent of legal trouble you could...

Continue Reading →
1 2 3 4 5 6 7 8
Close

50% Complete