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Serving cannabis clients: Understand the risks

  • November 5, 2021

As cannabis continues to make its way into the mainstream marketplace, state governments are increasingly legalizing and regulating it for medical or recreational use. The legal cannabis, or marijuana, marketplace represents a projected $21.7 billion industry, but despite its significant size, the industry poses challenges for CPAs. Continue Reading

Cannabis Accounting Highs and Lows

  • March 19, 2021

Because of IRC §280E limitations, cannabis businesses cannot take any credits or deductions except for the cost of goods sold (COGS). Moreover, due to of the tremendous tax burden, cannabis businesses are in a constant cash crunch and in need of an accounting professional. Continue Reading