The Tools Accounting and Tax Professionals Need to Properly Service Cannabis Businesses [Infographic]
If you're an accountant, cannabis business owner, or operations manager, the following guide should help you understand how DOPE CFO can provide you with proper accounting practices.
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E048 CFO Advice for Cannabis Industry | Periodic Effect: Cannabis Business Podcast
Make sure you tune in to DOPE CFO's Andrew Hunzicker feature on the Periodic Effects: Cannabis Business Podcast! Visit http://www.periodiceffects.com/episodes/e048 to listen.
Dope CFO Founders Andrew Hunzicker and Naomi Granger Speak About How They’re Training Accountants To Work In The Cannabis Industry | CASHCOLORCANNABIS PODCAST
Naomi Granger and Andrew Hunzicker with DOPE CFO are here to assist cannabusinesses with all the help the need to manage your books and business. Through DOPE CFO, the two offer services to the accountants looking to service the cannabis industry as well as do-it-yourself tutorials that can help someone get up to speed with the vast differences between tax codes for cannabis and codes for other industries.
Listen to the Podcast HERE
$78k in Accuracy Penalties for Cannabis Company for Poor Accounting and Record Keeping
IRS found that due to poor record-keeping, lack of check registers, no physical inventory counts, incorrect Cost of good sold allocations and much more caused $78k in penalties
The Tax Court in Alterman upheld the imposition of a 20% tax penalty on the taxpayer for the underpayment of the tax liability resulting from the deductions taken. Various medical and recreational marijuana practices have been legalized in the majority of the states but the last major hurdle, the Section 280E prohibition, still keeps marijuana ultimately classified as a Schedule I controlled substance under federal law.
Attorney Henry Wykowski explains, “Nevertheless, it’s a disappointing case and illustrative of the difficulties the industry faces with many – but not all – of the judges in tax court.”
What does this mean?
Watch our Altermeds Case Review HERE to learn how you can avoid running into these issues!
If a business is operating without keeping good...
Five Reasons Accountants Should Serve Cannabis Clients | CPATrendlines.com
In a recent feature on cpatrendlines.com, Andrew Hunzicker provides five reason why accountants should serve cannabis clients. There are many reasons that accountants, bookkeepers, and CPAs are launching their own cannabis firms, and some of these might apply to you as well.
To read more at cpatrendlines.com, click HERE
Accountants fill a glaring gap in cannabis industry | ElevatedNation.com
Naomi Granger, CPA, MBA, co-founder of Dope CFO, has been recently featured on elevatednation.com. In the article, Granger discusses why well-trained accountants are the missing piece in helping cannabis companies conquer the complex obstacles with tax laws and ultimately stay in business.
To read more at elevatednation.com, click HERE
The Ladies Of Cannabis Are Crushing It | GreenMarketReport.com
The ladies of cannabis are crushing it lately, and DOPE CFO's very own Naomi Granger has been featured on GreenMarketReport.com!
To read more at GreenMarketReport.com, click HERE
DOPE CFO Cannabis Accounting Business Expands | AccountingToday.com
DOPE CFO was recently featured on AccountingToday.com. Many businesses face challenging hurdles due to the complex IRS tax penalties. DOPE CFO aims to help educate cannabis businesses in the form of instructions, templates and libraries of documents about legal, tax, accounting and cannabis industry-specific issues.
To read more at AccountingToday.com, click HERE