Cannabis Business Blog
Strategies for Minimizing Your Cannabis Business’s Tax Liability
Running a cannabis business comes with numerous challenges, one of the most daunting of which is navigating the complex tax code. With the right strategies, however, you can minimize your business's tax liability and ensure you pay only what you owe. In this article,...
Understanding Section 280E and Its Impact on Cannabis Businesses
As the cannabis industry continues to grow, businesses are faced with the challenge of navigating the complex tax code. One of the most important and misunderstood sections of the tax code is Section 280E. This section of the Internal Revenue Code (IRC) prohibits...
Best Practices for Record-Keeping and Accounting in the Cannabis Industry
The cannabis industry is growing rapidly and with it, the need for accurate record-keeping and accounting to ensure the business runs smoothly. Whether you’re a small business owner, a dispensary, or a large cannabis producer, there are certain best practices that...
Preparing for an IRS Audit in the Cannabis Industry: What You Need to Know
As the cannabis industry continues to grow, more and more cannabis businesses are facing IRS audits. An IRS audit can be a daunting process, but with the right preparation, it can be made easier. This article will provide an overview of IRS audits in the cannabis...
Navigating the World of Banking and Financing for Cannabis Businesses
The cannabis industry is growing at a rapid pace, and with it comes the need for access to banking and financing services. Unfortunately, many traditional banks and financial institutions are still hesitant to work with cannabis businesses due to the legal ambiguity...
The Basics of Taxation for Cannabis Businesses: What You Need to Know
A man and his wife doing taxes
Learn About Cannabis Business Tax Strategies
