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Ways to Settle Your Tax Debt with the IRS
Are you among the taxpayers who cannot pay their tax bill by the April 18, 2023, deadline? Don’t panic. The IRS offers several options to
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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.
Are you among the taxpayers who cannot pay their tax bill by the April 18, 2023, deadline? Don’t panic. The IRS offers several options to
The beginning of 2023 brought significant changes to excise tax rules for California retailers. While many are trying to adapt, some are still struggling to
Taxation is an important topic for dispensaries and cultivators in Mississippi to understand, as it can have a significant impact on their operations and finances.
As the cannabis industry continues to grow and evolve, business owners face unique challenges, especially when it comes to payroll. Federal regulations surrounding cannabis make
Are you struggling to pay your tax bill to the IRS? If so, don’t worry! The IRS offers payment plans (also called installment agreements) to
The US cannabis industry has experienced remarkable growth in recent years driven by increasing legalization, societal acceptance, and an expanding consumer base seeking both medical
Cannabis COGs Optimization Can Boost Your Bottom Line COGS stands for “Cost of Goods Sold.” It refers to the direct costs associated with producing and
If you own a cannabis business, you need to know about the IRS rules for reporting your income and paying taxes. Even though it remains
What is a 1099? A 1099 form reports non-employee compensation to the IRS. It is required for any individual or entity paid $600 or more
Follow this checklist to gather everything you need to fill out your cannabis business tax return. You will need your tax returns for prior two
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