Continuing our previous coverage of the best POS systems for cannabis companies and our general software recommendations, this guide gives you our picks for the three best tax software tools for cannabis operators.
February 27 2019
199A - Qualified Business Income Deduction for Cannabis Operators
For cannabis business operators starting their tax return, figuring out what deductions you can claim under the 280e can be a challenge. Many of the typical expenses small businesses write off are ineligible to cannabis companies. As a result, you may need to dig a little deeper to find tax...
Filed Under: Taxes
February 26 2019
What ROI should you expect when investing in a cannabis business?
The cannabis industry is ripe for investors, with more and more cannabis companies joining the Canadian Securities Exchange (CSE). California’s cannabis market alone is estimated to reach $5.1 billion in market value. The cannabis industry remains a largely untapped market that has...
February 25 2019
This Week's Cannabis Updates from Around California
Today's cannabis updates from the state of California come from Pomona, Morro Bay, Colton, and more.
Filed Under: California, Weekly Update
February 21 2019
How to Price Your Cannabis and Cannabis Products for Profit
One of the most difficult aspects of running a cannabis business is learning how to price your products profitably.
High tax rates for dispensaries can make it difficult to set your price tag at a point that remains attractive to customers while still earning income for your business.
February 21 2019
The Big List of Things You May Not Deduct Under the 280E
The 280E federal regulation dictates what cannabis operators can deduct on their tax return.
The main thing you need to know is that the IRC 280E prohibits any company operating in connection with a Schedule 1 or Schedule 2 drug from deducting certain business expenses.
Unfortunately,...
Filed Under: Taxes
February 19 2019
Weekly Round-Up: Commercial Cannabis Updates from across California
This week RFPs are out for Commercial Cannabis Business Permits in Cotati and Contra Costa County. In other Cannabis Business new, Cannabis Business Tax announcements are abound in San Juan Bautista and San Luis Obispo County.
Filed Under: Weekly Update
February 19 2019
How to Beat the Competition in Oklahoma’s Cannabis Market
Oklahoma legalized medical cannabis in June 2018, and since then, the market has exploded with dispensaries and grow operations.
By our count, the Oklahoma market has more than 1600 growers, 436 processors, and 947 dispensaries – a very competitive landscape for anyone wishing to enter the...
February 15 2019
Budgeting for LA’s Cannabis Social Equity Program - A Breakdown of Property Support Fees for Phase II Tier 3s
An Analysis and Cost Breakdown of LA’s Tier 3 Social Equity Program for Cannabis Businesses
February 12 2019
How Pro Formas Affect Your Cannabis Business
Anyone who owns a cannabis business has probably heard of the term “pro forma.”
However, not all business owners understand how powerful a tool pro formas can be to demonstrate how much money the business needs to start up and operate until it is able to generate profits.
Usually,...
Filed Under: Finance
February 11 2019
Weekly Round-Up: Commercial Cannabis Updates from Across California
This week we see Bellflower entertaining the possibility of increasing the number of permitted Medical Cannabis Businesses, Santa Paula overturning its cannabis ban, and two more CA cities setting its cannabis tax rates and framework. CalCannabis has also released official guidance...
Filed Under: Weekly Update
February 06 2019
The 5 Best POS Systems for Cannabis Retailers
If you’re seeking to upgrade your software, or just hoping to avoid some of these common bookkeeping mistakes, your point-of-sale system is a good place to start.
A good POS system can help a cannabis retailer manage inventory, track sales, and get data on your customer trends.
February 04 2019
Weekly Round Up: Bird’s Eye View into California Counties and Cities Permitting Commercial Cannabis Activity
As commercial cannabis regulations settle and localities and operators gear up towards final steps for compliance, heavy activity can be seen regarding application submission, approval, and compliance.
Filed Under: Weekly Update
METRC has been in the news in California recently with the approval of Resolution 3702, which approved a new vendor TrackLoop.
This new software vendor will provide a new option for cannabis operators hoping to comply with California’s Track-and-Trace requirements.
There’s still a lot of...
Filed Under: California, Compliance