Yesterday Derek & Jim held a live presentation to answer questions that we have been receiving over the past few weeks about the cannabis industry, cannabis taxes and more.
Here is a list of the questions. Click on one to be taken to the question and their response.
- I haven’t filed taxes in a few years, should I file now or continue to wait?
- I am an investor in a cannabis business and I believe that the funds I have invested have been inappropriately used compared to what the intended use of funds was when signing the deal…what do I do?
- Small business Federal Assistance, do cannabis businesses qualify?
- I made no income in 2019, but spent a significant amount of money getting my business started, do I need to file taxes? What if I made some product that I didn’t sell?
- I received a letter from the IRS about the underreporting of income. What should I do?
- What is an IRS Private Letter Ruling?
- Is it recommended that dispensaries purchase on Net Terms?
- Which license types are valuable and which aren’t?
- How will cannabis do in a recession?
If you need help with your cannabis business accounting, receivership or taxes, then please reach out to us today.