What does a pound of weed cost to grow? What are the production factors involved, and how does that affect recordkeeping procedures for growers and their accounting professionals?
In order for cannabis growers to take advantage of maximum allowable deductions under 280E, accounting professionals must understand how to properly determine the true cost of growing/producing their client’s product. The actual operations of a grower is important for accounting professionals looking to...
Whether you have cannabis accounting clients or are looking to specialize and service this industry, you’re going to need a special set of tools and processes. If you haven’t had a chance to check it out, we’ve created an infographic that sort of outlines all of the tools that we use to provide services to our clients. You can check out our cannabis accounting tools here.
In terms of running a thriving cannabis accounting practice, there are a number of challenges that...
When Dope CFO first started it was to service actual cannabis clients such as dispensaries, grows, and edible makers, who were trying to understand and navigate the complex financials of the business. Here's our founders advice to those thinking about breaking into the often lucrative profession of cannabis accounting.
Read More HERE.
Marijuana is legal in several U.S. states, however, it’s still not legal federally. This case causes obstacles for many banks and marijuana-related businesses (MRBs).
President Obama’s administration allowed banks and legally established MRBs to do business, as long as banks complied with the extensive guidelines, which monitored the MRBs’ commercial activities and filed quarterly any suspicious activity reports. But on Jan. 4 Attorney General Jeff Sessions rescind...
Dope CFO Andrew Hunzicker and Naomi Granger have been featured in TD Ameritrade's Market Watch, 'Pot Stocks, ETFs, Top News And Data From The Cannabis Industry This Week'. Check out how we are educating business and equipping them with qualified CPA's to better serve their marijuana business.
Read more HERE.
Dope CFO Andrew Hunzicker and Naomi Granger have been featured in TD Ameritrade's Market Watch, 'Pot Stocks, ETFs, Top News And Data From The Cannabis Industry This Week'. Check out how we are educating business and equipping them with qualified CPA's to better serve their marijuana business.
Read more HERE.
Oregon has experienced a price spiral following the legalization of recreational cannabis in 2014. California, despite its population of over 39 million people and many tourists, may face the same problem. Oversupply is the primary market condition that has driven prices in Oregon.
However, the scenario of a California cannabis price spiral is unlikely. Now there is a push for federal laws to fully legalize cannabis and enable the interstate trade to fulfill demand across state...
As cannabis accounting professionals, we get a number of inquiries from cannabis businesses that insist that they can cut corners and tip-toe around the rules.
Here’s the thing… CANNABIS IS STILL ILLEGAL.
The first federal sentencing of a legal marijuana business owner for tax crimes is set to take place on November 1st. Partial owner of Cannabliss Dispensary in Eugene OR, Matthew Price has been sentenced to federal prison and $263K in restitution by the IRS.
No matter how many...
Nevada experienced a tax windfall last fiscal year, exceeding reported expectations by $265 million in state tax revenue for recreational marijuana sales. And with these sales come an increased look at Nevada and how they are regulating this new industry. In the Forbes article "Cannabis Sales Booming In A State That 'Knows How To Regulate Vice'" they ask Dope CFOs Naomi Granger to weigh in:
“Accurate accounting helps cannabis companies minimize their tax burden and reduce the risk...
Cannabis companies are highly regulated highly complex organizations. These businesses need not only a higher level accountant and a tax professional, but they also need a bookkeeper to manage all of the day-to-day financial transactions that come with operating a cash-based business.
This webinar is not just for bookkeepers, as it is important for anyone that is on the financial team for a cannabis company to understand the roles and to be clear on everyone’s responsibilities. It is...
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