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Ep. 120: Cannabis Dispensary Accounting & Tax
Manage episode 365246668 series 3139795
Accountants who are in over their heads when it comes to Cannabis dispensary accounting can cost the business dearly simply because they don’t know how to do the work properly.
Dispensary CEOs and operators who rely on inexperienced accountants or accounting teams are unknowingly putting themselves at risk of hefty fines or even being shut down for not following IRC 280E.
In Cannabis, the right accounting procedures need to be put in place on a daily, weekly, monthly, and annual basis. Consistent and correct accounting—not strategies to beat 280E—are what make the difference.
In this podcast episode, DOPE CFO founder, Andrew Hunzicker, CPA, covers:
Important tax codes and how to navigate them
471 - what it says, and how to correctly apply both GAAP and Tax, particularly for retailers
Ideas for how to manage from an accounting viewpoint and “how to make it all work”
Key court cases and what they mean for Cannabis companies
Complex legal entity structures and other “games” to avoid
...and more!
There’s lots to learn, so listen in and learn up!
161 एपिसोडस
Manage episode 365246668 series 3139795
Accountants who are in over their heads when it comes to Cannabis dispensary accounting can cost the business dearly simply because they don’t know how to do the work properly.
Dispensary CEOs and operators who rely on inexperienced accountants or accounting teams are unknowingly putting themselves at risk of hefty fines or even being shut down for not following IRC 280E.
In Cannabis, the right accounting procedures need to be put in place on a daily, weekly, monthly, and annual basis. Consistent and correct accounting—not strategies to beat 280E—are what make the difference.
In this podcast episode, DOPE CFO founder, Andrew Hunzicker, CPA, covers:
Important tax codes and how to navigate them
471 - what it says, and how to correctly apply both GAAP and Tax, particularly for retailers
Ideas for how to manage from an accounting viewpoint and “how to make it all work”
Key court cases and what they mean for Cannabis companies
Complex legal entity structures and other “games” to avoid
...and more!
There’s lots to learn, so listen in and learn up!
161 एपिसोडस
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