California Cannabis Business Tax Guide & Updates
California cannabis business taxation is in a constant state of motion. With each update, it becomes more crucial to remain up to date on the regulations in place, which is why we’re covering Cali cannabusiness taxes and the latest updates to keep in mind. Need someone to handle your cannacompany’s financials? Contact us today to […]
How to Make the Best Decisions for Your Cannabis Company
With more regulation now than ever before, the cannabis sector demands good decisions to succeed. But how to make the best decisions for your cannabis company? Use this actionable list to ensure your cannabis business decisions guide you through many of the most common challenges in the cannabis sector. Interested in implementing these actions? Contact […]
New Jersey Cannabis Businesses Could Benefit from Blockchain & Crypto-Asset Banking Developments
Blockchain and crypto-asset payment systems are becoming increasingly common across various industries; people purchase cars, homes, services, and more with these payment systems’ availability. But the impact these systems can have on New Jersey cannabis businesses makes them viable solutions for the current challenges in place. Currently, we’ve had numerous states and territories legalize adult-use […]
Cannabis Grow Facility Lenders Scale Your Operations
Cannabis grow facility lenders aren’t a dime a dozen; cannabusiness funding can be challenging to find. But even once you locate a lender, getting a loan to scale grow operations, expand with a dispensary, or open a manufacturing facility is next to impossible without proper documentation. First and foremost, before comparing cannabis grow facility lender […]
Where Can You Get a Cannabis Business Loan?
Some of our clients have asked us, “Where can you get a cannabis business loan?” Or, “Where can you get a business loan for a dispensary?” While it’s not always a loan for a dispensary, it’s pretty challenging for many cannabis business operators to find the funding they need. Cannabis business funding, in general, is […]
Michigan Marijuana Regulatory Agency (MRA) Annual Financial Statement Insight
Curious to learn more about the Michigan Marijuana Regulatory Agency (MRA) annual financial statement? This is the most encompassing guide on the internet! Now that the January 31, 2021 deadline for the medical Annual Financial Statement reports (AFS) has passed, we have some additional insight for cannabis business operators in Michigan. The requirement per the […]
Cannabis Nursery Businesses: The Right Investment for You?
Cannabis nursery businesses can be excellent investments for nearly anyone operating in the cannabis sector. While starting or purchasing a nursery sounds like a smart move, it’s ideal to know what you should expect. Cannabis nurseries add diversification to your operations. While you’re likely operating in a separate niche of cannabis and have considered becoming […]
How to Determine the Break-Even Point for Your Cannabis Dispensary
Sometimes, business owners don’t consider their break-even point. But knowing when you’ll become profitable means understanding how to calculate your break-even point. This is also how you’ll bypass the inflated numbers to reveal how long your profitability will take – with expenses in mind. All too often, we see catchy headlines marketing to the masses. […]
Financial Forecasting Methods & Factors for Cannabis Businesses
Financial forecasting methods in cannabis are essential for success. The industry environment is continuously changing, and the right predictions can make it easier to navigate. Every business should utilize a financial forecast. This is especially true for those operating in cannabis. The cannabis sector is experiencing tremendous growth at the moment, with Investopedia reporting canna-companies […]
Your Guide to M&A Due Diligence Preparation
There’s rarely a sign with big red letters warning us of the need for due diligence during an M&A. But maybe there should be. 83% of mergers and acquisitions (M&A) fail. But with some preparation, it’s possible to join the minority of successful M&A transactions. M&A is a term that describes the combination of two […]
Outsourced Cannabis CFO vs. Hiring In-House
Business operators often can’t help but wonder, “Should we hire a CFO or Controller, or should we try to do it ourselves?” However, there’s another option that’s often overlooked; outsourced cannabis CFO services. Managing finances is essential for any business. This is especially true for businesses that are growing. But up until around ten years […]
5 Benefits of Hiring a Fractional Cfo for Cannabis
Outsourcing a fractional Chief Financial Officer (CFO) is becoming more common in cannabis. As the economic downturn impacts operations around the country, finances become the top concern of cannabusiness operators. With the state of the economy, hiring a fractional CFO is now more than an option for some small business owners; it’s a necessity. However, […]
Cannabis Inventory Management Tips to Stay Compliant
Whether you’re stocking hundreds or thousands of cannabis products, cannabis inventory management and bookkeeping is essential for success in the cannabis sector. Operating in this industry means you need to know where your inventory is, how much you have available, and when you’ll need to restock. According to Wasp Barcode Technologies, 43 percent of small […]
7 Ways to Earn the Interest of an Angel Investor
Every small business has needed capital at different stages of development. Whether you are starting a brand new cannabis business or growing your already existing cannabis business, you’ll need to explore all your options when it comes to funding. Currently, with all the rules and regulations of the cannabis industry, it can be difficult to […]
When to Use Cash-Based Accounting For Your Cannabis Business
‘Tis the season! Tax season, that is. And one thing that no one can argue with is that Cannabis tax laws are among the most complicated and intricate to comply with. With the unique phenomena where cannabis is illegal on the federal level, but legal at the state level, there is an interesting dynamic with […]
Increasing Cash Flow For Your Cannabis Business With a Sale Leaseback
Do you own a cannabis business? Then it’s no news to you that cash flow is one of the main, if not the main, issues for a cannabis business. That’s why owners of businesses like marijuana dispensaries, cannabis distributors, and cultivators are always on the lookout for new ways to solve the cash flow issue. […]
Keeping Cash Flow for Cannabis Businesses
There’s a lot of material out there exploring why nine out of ten business and startups fail, and plenty case studies done on the businesses that made it. One theory is that entrepreneurs of successful businesses “failed fast.” They got all their mistakes out of the way in the beginning. Maybe that’ll work for a […]
How to Avoid 280E
Wondering how to avoid 280E? You’ve come to the right place! The cannabis industry is a rapidly growing market. We have helped many cannabis businesses reach financial success and grow exponentially. Even though there are exciting success stories, the cannabis industry and cannabis business owners are still facing massive challenges specifically related to their niche […]
California Cannabis Retailer Requirements
Opening any business has many steps and procedures to ensure that your business is legal and in good standing. Becoming a California cannabis retailer is no different in that regard, except that there are extra stringencies you must be aware of to be a compliant cannabis business in the State of California. The department you […]
How to Raise Funds For Your Cannabis Business: Create a Pitch Deck
There’s no denying that the cannabis industry can be a lucrative career choice. Do you want to open a dispensary, grow hemp, or deliver it? Maybe you want to do it all! Starting a cannabis business can be a costly endeavor. Any business, but even more so a cannabis business, requires licensing fees, extremely accurate […]
Payroll Taxes for a California Cannabis Company
All cannabis businesses that operate in the state of California which have employees, including everything from cultivation to dispensaries, must withhold, report, and pay payroll taxes to the Employment Development Department (EDD). Payroll taxes apply to employees such as budtenders, office managers, accountants, growers, salespeople, and delivery drivers. In fact, all personnel who meet the […]