CANNABIS
We have been servicing the cannabis industry in all states where it is legal for 15 years.
The Internal Revenue Code currently states: “No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of trafficking in controlled substances (within the meaning of Schedule I and II of the Controlled Substances Act) which is prohibited by Federal law or the law of any State in which such trade or business is conducted.”
We will help you with strategies to navigate IRC §280E and protect your business and mitigate any risks that come with being part of a growing industry.
Cannabis Business Start-Up
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Incorporation Tax Recommendations
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Structure your business to mitigate your exposure to IRC §280E
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Compliance with city, county, state, and national regulations
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Work with our partners to locate banking solutions
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Work with our partners to provide payroll services
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Consulting with insurance, banking, and related services
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Small-business loans and venture capital consulting
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Provide Investor Ready Business Plans for Cultivation Facilities, Manufacturers, Dispensaries, Testing Facilities, and Distributors
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Calculate the Start-up Costs and provide a 3-year Projected Income Statement for emerging marijuana businesses
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Provide Application Support Assistance which includes:
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Application Project Management Support
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Application Writing
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Applicant Bio Writing
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Compose Standard Operating Procedures that adhere to Local and State laws
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Write Operating Plans
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Write Inventory Control Plans
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Write Noxious Odor Control Plans
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Write Risk Mitigation Plans
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Write Security Plans
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Research Local & State Marijuana Laws
Cannabis Tax Services and Tax Planning
We are enrolled agents. EA’s are the only professionals granted permission to practice by the IRS. In short, we specialize in taxation.
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Tax preparation of federal, sales, and local income tax returns
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Financial statements
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Accounting and bookkeeping services
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Back-office support
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Payroll and HR
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Business Structuring to make sure your tax election allows for you to pay the least in tax.
Business Operations Consulting
Running a business can be stressful, and the cannabis industry comes with its own unique challenges.
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Price optimization
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Inventory tracking
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Security best practices
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Marketing and operations
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Facility design and construction for tax purposes
