accounting for marijuana business

There are a number of accounting problems faced by marijuana business owners today and this is the reason it is crucial to hire an expert and experienced accountant to handle all the financial aspects of running this kind of business. Accounting for marijuana business is an important service that you must take advantage of. One of the common problems that you can come across is not keeping proper track of your accounts. This problem arises …

May 20, 2016accounting for cannabis business, accounting for marijuana business, accounting for weed business, business marijuana accounting, business weed accountingaccounting for cannabis business, accounting for marijuana business, accounting for weed business, business marijuana accounting, business weed accountingby George Boyadjian

Accounting for cannabis business

Accounting for cannabis business There are a number of accounting problems faced by marijuana business owners today and this is the reason it is crucial to hire an expert and experienced accountant to handle all the financial aspects of running this kind of business. Accounting for cannabis business is an important service that you must take advantage of. One of the common problems that you can come across is not keeping proper track of your accounts. …

Accounting for dispensary business

Are you a marijuana business owner and are looking to seek accounting for dispensary business service. Before you choose a firm to handle your accounting needs, you must look at client testimonials so you can be sure that you are making the right choice. In fact, the firm you consider should willingly provide you with testimonials so you can read them and know if you are choosing the right firm. You will need accounting for …

Accounting Issues in the Cannabis Industry

Before I get to my business intel, you should know that the personal tax world was roiling late last week over some fraud detected from within TurboTax. Here is the Story: http://www.forbes.com/sites/kellyphillipserb/2015/02/06/turbotax-temporarily-halts-e-filing-in-all-states-amid-fraud-concerns/ Essentially, the makers of the software detected a level of fraud occurring in state tax return submissions that made them decide to completely shut down submission of those returns for a period of time. Eventually, they determined that the apparent source of the fraud was …

Tax attorney - Robert W. Woods, states: "Sales tax isn’t the only issue. As I noted here, the IRS also has issues with medical marijuana. Under federal tax law, Internal Revenue Code Section 280E precludes deductions for any business trafficking in controlled substances. For that reason, some dispensaries have been stuck paying tax on their gross income, not on their net after expenses!

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accounting for marijuana business

Cannabis Business Accounting