Posted: January 14, 2019
The risks are lower than many accountants think - and the rewards are greater.
Posted: November 27, 2018
The State Senate Budget and Appropriations Committee and the Assembly Appropriations Committee approved an adult-use cannabis bill Monday after a standing-room-only hearing that lasted nearly five hours and featured a back-and-forth between pro- and anti-marijuana testimony.
Posted: October 10, 2018
A dispensary owner becomes the first person sentenced for marijuana-related tax crimes.
Posted: August 10, 2018
Equipped with a specialized skill set and sophisticated financial knowledge, CPAs have the opportunity to enter a burgeoning market — projected to reach an economic impact of $70 billion in the U.S. by 2021 — where they can access a new realm of clients in dire need of their help, not to mention a substantial new source of revenue for their firms.
Posted: August 2, 2018
Experts demystify the very young and evolving industry, and share advice on how to work with potential clients in the business.
Posted: July 5, 2018
In a recent decision, the Tax Court illustrated the importance of good record-keeping, as well as the continuing barrier the Tax Code poses for the full deductibility of expenses related to marijuana facilities, in Alterman v. Commissioner, T.C. Memo 2018-83.
Posted: June 6, 2018
New Jersey’s expansion of the medical cannabis program and the potential for legalization of recreational use on the horizon brings an increased demand for professional services by certified public accountants. The NJCPA and New Jersey CPAs stand ready to be a resource.
Posted: May 16, 2018
As part of your process in assessing “risks,” never forget that your professional acts and decisions will be judged in hindsight. Therefore, if your firm decides to service cannabis clients (or any other higher-risk clients, for that matter), be extremely attentive to malpractice rules.
Posted: April 30, 2018
Providing accounting services to marijuana businesses is full of potential legal and ethical minefields.