With our team of CPAs and financial experts that specialize in the cannabis industry, GreenGrowth CPAs is here to ensure that your business is set up for success. We create feedback loops for consistent optimization and compliance for your cannabis company. Maintaining a consistent and organized financial record for your business is critical for your monetary success. GreenGrowth CPAs ensures that your cannabis operation is compliant with SEC guidelines, SOX and COSO 2013 requirements. There are many nuances and tax codes–like 280E– that are difficult to understand because cannabis is still a Schedule-1 controlled substance and not recognized as legal by the United States Federal Government. GreenGrowth helps you navigate these tax codes and regulations by using our industry knowledge and keeping a close eye on tax code changes.
Organized documentation is the most important step a cannabis business owner can take to ensure success and diminish the risk of being externally audited, like the IRS, for example. Keeping your accounts receivable and liabilities in check will make tax season stress free. From financial statement preparation to SEC filings, we will make sure that your management team is confident and prepared for the road ahead. Our team of Ex-Big 4 CPAs continues their annual tax education and stays vigilant when new regulations are introduced and old regulations are diminished.
Taxes & CPA Services
We prepare businesses’ annual and quarterly taxes by conducting internal audits to help clients with tax preparation for the upcoming tax season. It is very important to start preparing for April 15th NOW. Do not hold out for governmental changes, like the possibility of the MORES Act passing. Even if the MORES ACT passes, cannabis operators will still be required to file taxes in 2021 just like any other year. We prepare taxes for: Individual 1040 // Includes 1 Single Member LLC (prepped on a Schedule C), C-Corporate Return – 1120, S-Corp 1120S, Partnership 1065- Multi Member LLC, Schedule C ONLY (this means that we are NOT prepping their 1040), $0 File Return, 1099’s and W-2s, Sales Tax Filings (includes use taxes and muni/county local taxes), Quarterly Payroll Taxes, Form 940/941, Shared Economy, 8300 forms, Statement of Information, Form 5472, and Form 8962.
Outsource CFO with Bookkeeping Services
Outsourcing your CFO is one of the best ways to save time and money for your cannabis operation. We handle additional services like financial modeling, accounts payable & accounts receivable, payroll support, and bookkeeping for your business. Having your bookkeeping in good standing aligns with our most important goal: to make sure your business is compliant with local and state regulations. We take the time to review any bookkeeping you previously used for your business line item by line item. This ensures that we don’t miss any details and can often be a long process if anything appears to be out of compliance. Organizing your books will put you ahead of your competitors when tax season rolls around.
States that We Provide Our Financial Operations Services
Alaska Arizona Arkansas California Colorado Connecticut Delaware District of
Columbia Florida Hawaii Illinois Louisiana Maine Maryland Massachusetts
Michigan Minnesota Missouri Montana Nevada New Hampshire New Jersey
New Mexico New York North Dakota Ohio Oklahoma Oregon Pennsylvania
Rhode Island Utah Vermont Washington West Virginia (any legalized state)
Alaska. Arizona. California Colorado Illinois Maine Massachusetts Michigan
Nevada New Jersey Oklahoma Oregon Vermont Washington (any legalized