Education
3 Last Minute Tax Tips Every Cannabis Operator Should Know
It’s that time of the year again, tax time! And if you still haven’t filed your tax return or are finishing up the details here
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An educated approach to 280E can save you money, reduce tax complications, and protect you in the event of an audit.
Internal Revenue Code (IRC) 280E is one of the biggest obstacles plant-touching cannabis operators must overcome. A mismanaged 280E approach can raise your tax exposure 50-80% and put you at serious risk of an IRS audit. An educated approach to allocating Cost of Goods Sold (COGS) and entity structure can save you money, reduce tax complications, and protect you in the event of an IRS or state/local audit.
It’s that time of the year again, tax time! And if you still haven’t filed your tax return or are finishing up the details here
Our team of cannabis tax experts has been serving the industry for years and knows the ins-and-outs of lowering tax burdens so you can maximize
In most circumstances, the IRS and other regulatory tax bodies are authoritative in their perspective and decisions. But the punishing cannabis tax regime is so
Whether you’re cannabis business has had a great year, or you are navigating recent losses, there are a number of year end tax planning ideas
Cannabis businesses operate under an unfair tax system that creates significant complexity and and heavy burden. Therefore, the best way to beat regulators at their
Optimizing 280E deductions for cannabis retailers and dispensaries is the key to lowering tax exposure and boosting profitability. Above all, IRS Code 280E was intended
Until major regulatory changes occur, IRC 280E will remain the biggest obstacle to profitability for cannabis operators. The inability to deduct common operating expenses makes
The term audit makes cannabis business owners cringe, and a potential visit from the IRS causes panic among most of us. Tax issues can have
With the steep decline of wholesale flower prices in several mature cannabis markets, already slim profit margins for cannabis cultivators are now razor thin. Compounding
When congressional lawmakers first conceived the obscure federal tax rules known as 280E in the early 1980s, the goal was to strip drug kingpins and