Posted: August 1, 2019
Savvy CPA firms are taking advantage of opportunities to expand their services and quickly deliver more value. International reporting, cannabis guidance, environmental management, and sports and entertainment taxation are among the areas CPAs are enjoying early success in.
Posted: July 3, 2019
Overhaul allows more professionals to prescribe medical pot, in higher amounts, and with fewer restrictions.
Posted: May 30, 2019
Legalized cannabis is a fast-growing industry, but providing services to cannabis businesses carries risk for CPA firms. Here are factors to consider related to this practice area.
Posted: May 15, 2019
By forming a qualified opportunity fund (QOF) and investing in real estate, which may be leased to an operating cannabis company depending on the jurisdiction, investors may be able to participate in the growth of the cannabis industry. Find out how.
Posted: April 10, 2019
It’s tax time for everyone, but for entrepreneurs in the rapidly growing cannabis business, it’s a particular challenge.
From the NJCPA Focus blog:
Accountants would be wise to keep their eyes on IRC Section 280E. If this is the beginning of a trend for the Drug Enforcement Agency, perhaps all businesses operating within the medical cannabis space may soon be able to claim exemption from IRC §280E.
Tax practitioners will have to examine their appetite for risk before serving clients in the cannabis industry. Education on Internal Revenue Codes will allow tax practitioners to best protect themselves from scrutiny as will understanding the calculation of cost of goods sold (COGs).