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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.


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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.

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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...

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Filed Under: Taxes, Business, Oklahoma

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

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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.


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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...

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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.

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Filed Under: Business, Finance

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.

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Filed Under: Weekly Update

February 04 2019

Everything You Need to Know About METRC Cannabis Tracking, Reporting & Compliance

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...

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Filed Under: California, Compliance

January 31 2019

Tax Preparation Checklist for Cannabis Operators

Despite the government shutdown, tax season has officially begun. Income tax-filing season opened January 28, 2019. You have until the deadline of April 15 to submit your business tax return (unless you qualify for an extension).

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Filed Under: Compliance, Taxes