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accounting

March 26 2020

Economic Update for Cannabis Businesses

Small business owners around the country are in need of help as more and more states ask their citizens to stay at home. Cannabis is no exception.

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Filed Under: News, Taxes, Business, Operations, Accounting

March 04 2020

Cannabis Excise Tax Calculation Updates for 2020

As of the beginning of this year, there are some changes to how California is calculating the excise tax for cannabis distributors. The CDTFA released guidance changing the calculation of cannabis excise tax, as well as the payment schedule. Here’s what you need to know. 

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Filed Under: California, Taxes, Accounting

February 26 2020

Cannabis Industry Chart of Accounts

 

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Cannabis operators have a lot to keep track of. From staying compliant with complex regulations to tracking KPIs and staying alert for signs of embezzlement,...

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Filed Under: Taxes, Finance, Accounting

February 12 2020

4 Important KPIs for Cannabis Dispensaries

While it’s true that cannabis is still a developing market, that doesn’t mean best business practices should be thrown by the wayside in favor of rapid growth. It’s important to track key performance indicators to make sure your cannabis operation is running profitably. Hoping that...

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Filed Under: Finance, Operations, Accounting

February 05 2020

Embezzlement: How to Spot the Warning Signs in Your Cannabis Company

Cannabis is still a new market, and with so much cash changing hands during the course of doing business, it’s likely that operators will come across fraud, embezzlement, or financial misrepresentation at some point.  

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Filed Under: Finance, Operations, Accounting

January 29 2020

Best Practices for Cannabis Dispensary Cash Handling

Cash management is important for every small business but can sink a cannabis operator quickly. In an industry where virtually every transaction is handled in cash, strong cash handling policies are critical for survival. 

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Filed Under: Business, Operations, Accounting

January 08 2020

Case Study: Alternative Health Care Advocates Tax Penalties

A recent court ruling in Alternative Health Care Advocates et al. v. Commissioner of Internal Revenue offers some significant tax implications for cannabis operators and management companies. The case, which was filed at the end of December 2018, is a cautionary tale for any cannabis...

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Filed Under: Case Studies, Taxes, Accounting