Blog

The right tax software tool can help you organize your tax return, but double check all the information before you file.

• We strongly recommend you speak to a CPA before you file your taxes, as the IRS is notorious for auditing cannabis operators. 
• Xero, Quickbooks Online, and Freshbooks...

The QBI deduction is a complicated one that could help you save money on your cannabis business taxes.

• Qualified business income refers to the ordinary, non-investment income your cannabis company generates
• There a number of complexities that need to be taken into account when determining...

Understand the risks associated with cannabis investments to safeguard your interests as much as possible. 

• Do your due diligence to understand the risks of a certain opportunity – as well as the potential returns.
• Consider how the competition in the market will change over time. 
• ...

Today's cannabis updates from the state of California come from Pomona, Morro Bay, Colton, and more. 

There are two approaches to pricing your cannabis product that can help you optimize your profits.

• The cost approach to pricing uses the costs that have gone into creating a product as the basis for charging a certain amount.
• The market approach looks at what your competitors are...

This list offers some common business expenses that you many not write off on your cannabis business tax return.

• IRC 280E prohibits any company operating in connection with a Schedule 1 or Schedule 2 drug from deducting certain business expenses.
• The cost of goods sold (COGS) provision...

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.

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...

An Analysis and Cost Breakdown of LA’s Tier 3 Social Equity Program for Cannabis Businesses

 

A 

 

A pro forma can be used to leverage investment pitches and strengthen business plans that are presented to potential investors.

• A pro forma is a set of financial documents that demonstrates how investment funds will be used and impact a company's financial position.
• These...

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...

A great point-of-sale tool will help you stay compliant with regulations, avoid theft, and learn about your customers. 

• Find a POS that is built specifically for the needs of the cannabis industry. 
• GreenBits, Meadows, Treez, Webjoint, and Fishbowl are all good options for operators. 
• Look...

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.

 

Learn how to use METRC to comply with state reporting and track and trace requirements. 

• Cultivators, manufacturers, retailers, distributors, testing laboratories and micro-businesses – must comply with the METRC reporting standards.
• METRC uses standard Radio Frequency Identification...