CANNABIS ACCOUNTING SERVICES
With legalization spreading rapidly across the nation, the cannabis industry is only just beginning to thrive. Cannabis accounting is a complex space, therefore companies must adapt their financial practices to keep up with an increasingly competitive landscape and ultimately stay in business. Those who fail to remain in compliance with strict state and federal regulations will find themselves at risk of steep penalties or even shutdown, potentially costing investors hundreds of thousands of dollars. We are here to help you remain in compliance, and stay on top of the changing guidelines and requirements for business owners.
Cannabis is one of the most tightly regulated industries in the country, and therefore companies must take extra care to be ready for an audit at any moment. Within an ever-changing market that is evolving at a lightning-fast pace, you must dedicate yourself to continuous education—not just when it comes to accounting and tax, but also operations, software, cash issues, banking and so on. We work the owners directly to ensure controls are in place. Here is what we offer:
What We Provide
Business entity set up review.
Inventory Management System
Do's and Dont's of Cannabis Cost of Goods sold
Cannabis Cost Accounting and tools to optimize profitability
Financial reporting for investors
Tax Strategies for Cannabis Companies
Helpful Links To Keep You In Compliance
Things To-Do: Cannabis Businesses Financial Year-End Roundup
Business Consisted Solely of Selling Controlled Substances, No Deductions Other Than Cost of Sales Allowed
What Cannabis Entrepreneurs Should Know About Tax Section 280E
Marijuana Business Banking In Florida