We get a number of inquiries from accountants and cannabis CEOs alike who are unsure and unaware of how to navigate their accounting challenges.
280E dictates what cannabis companies (or any company that sells… what are classified as drugs), can and cannot deduct as expenses. While many are aware of 280E few are familiar with cannabis COGS and the various rules for different entities.
In this webinar we touch on 280E and 471 and how these different tax codes affect...
The industry is largely void of qualified financial professionals such as CPAs and bookkeepers, who can help Cannabis companies adhere to stringent regulations while mitigating the high risk of fines and penalties. In this article from Green Entrepreneur, Andrew Hunzicker mentions a few of the common financial mistakes cannabis businesses really can’t afford to make.
If your business or your clients are making these mistakes in their business and need help, feel free to reach out!...
There is a thriving need for complex and accurate accounting in the cannabis industry.
While it is already legal to sell in 30 states, cannabis is still considered a Schedule I Controlled Substance under federal law. Despite how someone may personally feel on the subject, legal cannabis is a booming business segment that has a sizable need for proper accounting practices.
Let’s look at...
As the cannabis space matures, it's becoming increasingly populated with service providers from a diverse range of ancillary industries. Among them, accountants and bookkeepers have become some of the most sought-after specialists in the field. Running a cannabis business are entirely distinct from any other sector, and most cannabis CEOs lack the skill set to circumvent the countless risks involved. For this reason, a majority of cannabis companies require guidance from experienced and...
With most big accounting firms still avoiding the cannabis industry, small accounting firms are undoubtedly in the right place at the right time.
Equipped with a specialized skill set and sophisticated financial knowledge, CPA’s and other accounting professionals have the opportunity to enter a burgeoning market—projected to reach an economic impact of $70 billion in the U.S. by 2021.
In this article, Andrew shares a few key steps that you can take right away to get your foot in...
After spending 10's of thousands of dollars on coaching and eduction to grow my business, the one nugget that actually helped me grow most, was finding my niche.
By doing so, I was able to:
- Double down on more focused marketing efforts
- Position myself as an expert
- Charge more for my services
- Streamline, and provide more specialized services to my clients
…and so much more.
It may seem like you will miss out on business if you only work within a niche; however, the benefits outweigh...
Naomi Granger, CPA, MBA, took a leap of faith and it paid off. And it’s still paying off.
With more than 12 years of public accounting experience, working her way up the ranks to senior management at PwC, Granger wanted more. She wanted flexibility and ownership of her time and schedule. So, she started researching how to start a remote accounting practice.
The key? Honing in on one niche. And not just any niche. An industry she could really sink her teeth into.
She considered working...
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.