4 Ways To Keep Your Start-up Cannabis Business ‘Lean’
Congratulations — you’re a new cannabis business owner! You’re excited because you secured financing, welcomed your first customers, hired an excellent team, and sales are starting to roll in. You’re feeling good about your success as a start-up thus far. But, suddenly the rush of excitement begins to fade. The numbers aren’t quite what they […]
8 Things You Need to Know About Doing Taxes for Your Cannabis Business
It’s common among the cannabis industry to hear stories of business owners getting hit with a crushing tax bill or an IRS audit. The industry has expanded quickly with legalization in individual states and the questions of tax implications arise among industry stakeholders – more so business owners. However, with an in-depth knowledge of key […]
Historic U.S. Tax Court Decision That Will Save the Cannabis Industry Millions
Ultimately, what saved Harborside from receiving a harsher ruling, was the fact that Harborside maintained impeccable accounting records and filed their tax returns timely.
4 Banking Strategies for a Cannabis Company
In effect, the memo protected legal cannabis states from the federal cannabis ban. This is one reason certain banks won’t touch cannabis money – because cannabis is still illegal at the federal level.
Should I Outsource My CFO?
Since the accounting, tax, and regulatory requirements can be challenging to stay on top of, the need to hire a CFO is actually required much sooner for a cannabis business.