Running a marijuana business, but don’t know how to deal with the IRS Code 280E? You don’t need to worry because there are qualified accountants who can handle this issue for you. The IRS Code 280E is one of the major problems faced by marijuana business owners today. This is because marijuana is illegal federally and the income that is generated through the running of the business is also illegal under the federal law.
The entire marijuana industry is aware of this problem and businesses are having a hard time to deal with it. There are certain deductions which are allowable and certain which are not. As a business owner, it may be intimidating for you to figure out which deductions are allowable.
But when you get a CPA involved, he will be able to handle the IRS Code 280E problem in a hassle free manner. He will be able to suggest the ways on how you can minimize the risks that can be caused by this section. With a qualified and knowledgeable accountant by your side, you will be able to protect your business from the section of the code that relates taxation of business income that is illegal federally.
About 420 College:
420 College is California’s leading source for information and training on cannabis operations. If you are researching IRS Code 280E in your city or county, then take one of our cannabis business workshops in Los Angeles, San Diego, Pasadena and Sacramento.
Our attorneys and network of industry leading professionals go over every aspect of cannabis business licensing, start-up and business operation in a lively, classroom style event.
At 420 College – it all begins with helping YOU to understand what is proper, lawful and appropriate!
Our hands-on cannabis business start-up seminars or one-on-one cannabis business consultations are a perfect way to get started! Find out how 420 College cannabis business seminars can help you in your business, click here.