Maximizing Profits for Cannabis Dispensaries
As a CPA who's been knee-deep in Cannabis accounting for years, I've had a front-row seat to the industry's explosive growth. It's been a wild ride, watching this sector bloom into a multi-billion dollar market. But here's the kicker – we're just getting started. The potential for profit in this green rush is enormous, but so are the challenges.
In this guide, I'm going to share the insider knowledge I've gained from working with countless Cannabis dispensaries. We'll explore how accountants ca...
Cannabis 2023 Review and 2024 Outlook: Growth and Regulatory Shifts
Over the past decade since Colorado first legalized recreational Cannabis in 2012, the Cannabis industry has grown massively despite conflicting state and federal laws. The legal market hit $33 billion in 2023, while polls show 70% of Americans now support full federal legalization.
While various sectors of the US economy have been turbulent over the last couple of years, the industry still experienced some growth in 2022-2023. Industry analysts and advocates remain optimistic about the potenti...
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.
$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...