For all cannabis businesses, understanding cost tracking and allocation is a crucial aspect of maintaining healthy finances. However, the process can be complex, and the
Many cannabis-related businesses would like to take deductions for the costs related to their business activities. However, the tax code, Internal Revenue Code (“IRC”), has
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
Did you know that COGS/inventory account for up to 50% of a Profit & Loss Statement for a dispensary? This is the biggest overlooked opportunity
Section 280E of the Internal Revenue Code was introduced in the 1980s. Its purpose was to prevent drug traffickers from claiming deductions on their illegal
Recently the IRS released guidance for cannabis business tax including IRC 280E, IRC 471 and 471c. Introduction Welcome to this comprehensive guide on cannabis business
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