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business

November 29 2018

Cannabis Security 101: How to Protect Your Business

As tax professionals, we focus a ton on your cannabis business’s financial security.

We’re experts at helping you prevent bookkeeping mistakes, avoiding tax fraud, and making sure your cannabis operation is compliant with state and local tax laws.

But what about the physical security of...

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Filed Under: Business

November 20 2018

What is the Best Way to Structure Your Cannabis Business?

As part of writing your cannabis business plan, one of the first decisions you’ll have to make is how to structure your cannabis company.

There are many types of entities to choose from. Each one has different tax and legal implications.

Selecting the right business structure also means...

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Filed Under: Business

November 15 2018

How to Write an Impactful Executive Summary for Cannabis Investors

The strongest cannabis business plans for investors need an executive summary.

When seeking an investor for your cannabis business, the executive summary is your first opportunity to make a good first impression. Investors are eager to get a piece of the estimated $8.5 billion legal...

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Filed Under: Business

November 08 2018

Everything You Need to Know About Cannabis Standard Operating Procedures

When you apply for an adult-use cannabis business license, the application is likely going to ask you to detail your standard operating procedures (SOPs). These are a critical factor in helping your license application get approved – as well as key to making sure your cannabis business runs...

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Filed Under: Compliance, Business

September 28 2018

Cannabis Banking 101: The Agencies and Policies Responsible for why Banks won’t take your Cannabis Money

Ever wonder why federally insured banks generally don’t do business with cannabis business owners? There are agencies and policies responsible for why banks won’t take your cannabis business money. The first and most obvious agency is the US Attorney with the Department of Justice. The...

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Filed Under: Business, Finance

September 26 2018

Best Software Packages to Start Using for your Cannabis Business

Are you spending a lot of time each day making sure your business is running smoothly?

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Filed Under: Business, Insider

September 18 2018

Common Cannabis Bookkeeping Mistakes (And How to Avoid Them)

Cannabis businesses are like any other legal business that relies on accurate information and reporting. The biggest difference in bookkeeping for cannabis companies lies in the massive amount of cash being collected, and therefore greater potential for error – or worse, fraud. Successful...

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Filed Under: Business, Compliance

September 13 2018

Elements of a Winning Cannabis Business Plan

Once you’ve taken the first three steps to starting a cannabis business, the next logical move (and part of securing a license) is to write a business plan. Writing a winning cannabis business plan is similar to writing a business plan for any other business—with the exception of focusing...

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Filed Under: Business

September 06 2018

How to Calculate Your Initial Cannabis Startup Costs

Before deciding whether or not to invest your time, effort, and money into starting a cannabis business, it may be wise to take a close look at initial start up costs. Unfortunately, cannabis ventures tend to be more capital intensive than other start-ups. Here is a checklist to help you...

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Filed Under: Business

September 05 2018

What to Look for in a Cannabis Accounting Firm

The cannabis market within California continues to grow at a tremendous rate. The cannabis market is expected to hit $3.7 billion in California by the end of this year and grow to $5 billion in 2019. These numbers are a huge source of tax revenue; BDS analytics predicts that California will...

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Filed Under: Business