You may have heard the term “280E” thrown around. Essentially, there are limited and very specific deductions a company can take when working in the cannabis industry. There’s a lot to know, in order to stay compliant with federal and state regulations. And, with rescheduling on the horizon, changes to the tax code are also coming. Let us figure out what needs to be done, so we can help you do it.

Cannabis tax and accounting requires more specialized knowledge than many other “standard” industries, so you’ll want to consider a tax professional who is up to date on the relevant tax laws (there’s that 280E again) as well as state and local laws, so that you remain compliant. The IRS looks at the cannabis industry with more scrutiny, so it’s important to have someone on your team who knows the rules of the game.

Our main focus is tax services, which involves tax prep, which is the actual filling out of forms, and tax planning, which looks at the whole year, both backwards and forwards, to determine where your tax liability will fall and find ways to minimize it. We also offer fractional CFO services, which is more about supporting the growth and development of your business (think profitability, cash flow maximization, operations and process improvements).

If you’re looking for on-going bookkeeping services, we have an accounting partner that we work with that we can refer you to!