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Blog

July 31 2020

SPACs in the Cannabis Industry

Special Purpose Acquisition Companies are one way to take your cannabis business public – here's how they work.

  • The SPAC pools money from investors – known as a blind pool – into the public company. 
  • The SPAC goes public, and then makes acquisitions or investments based on a...
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Filed Under: Finance, Investing

July 22 2020

How to Take Money Out of Your Cannabis Business

Here's how to draw a salary from your cannabis business – and how it impacts your business and personal taxes. 

  • How you draw a salary – and the taxes – depends on the type of entity you've set up.
  • A C-Corp cannabis venture pays taxes on any income, meaning the entity itself is...
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Filed Under: Finance, Accounting

July 02 2020

Understanding Bad Debts for Cannabis Companies

Learn some strategies for writing off bad debt, as well as how to avoid the risk to begin with. 
  • Bad debt gets recognized as a business expense when an account receivable is no longer collectible.
  • In the cannabis industry, you should never extend credit – it's simply too risky.
  • If you do...
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Filed Under: Finance, Accounting

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