Cannabis Tax And Accounting Services

Complete Financial Expertise for Cannabis Businesses

Cannabis CPA provides comprehensive cannabis tax and accounting services for companies in the industry. With the help of our expert cannabis tax solutions, our clients can rest assured knowing they will remain compliant with all the necessary regulations even as the circumstances about them continue to shift. Keeping your company’s preparation, planning and bookkeeping in order is critical for your continued success, and our professionals deliver the cannabis tax and financial services needed.

Preparation — Our experts understand the unique situation your company is in and guide you through the process of preparing your tax returns to ensure you have the smoothest experience.

Planning — We partner with you to create a joint endeavor that goes beyond your taxes. This includes establishing your business structure, as well as budgeting and cash flow analysis.

Technical Accounting & Bookkeeping — Finding accountants and bookkeepers who are willing to work with you may be difficult, which is why we’re here to offer our expertise to keep you in compliance with your financial reporting obligations.

Strategic Tax Services for Cannabis Industry Clients

Every Cannabis CPA tax professional has a strong background in the cannabis industry and considerable knowledge about its tax rules and regulations. We are aware of current, relevant cases and understand the latest tax laws and how to properly apply them to our clients’ circumstances.

We thoroughly comprehend the tax deduction limitations under U.S. Code § 280E, and we know how to utilize U.S. Code § 471 regarding inventory to minimize your tax burden while keeping you legally compliant.

Need Effective, Customized Cannabis Tax Solutions?

Cannabis companies are very restricted in terms of tax deductions. Section 280E prohibits taking deductions other than those for cost of goods sold (COGS). This means that, unlike companies in most other industries, cannabis businesses are not allowed deductions for normal business expenditures, so taxable income does not truly reflect actual financial income.

This presents a significant financial burden. While many companies experience a financial loss or only a small financial gain, they may be reporting substantial taxable income for which they must pay very high taxes. Our goal is to help maximize the amount of deductions that can be included in COGS to minimize the tax bill — while staying within the IRS guidelines.

Cannabis Tax and Financial Services Are All We Do

Because Cannabis CPA provides services to a single, unique industry, we have the resources (in personnel and time) that allow us to concentrate on the continually evolving cannabis tax situation. General CPA firms do not have our ability to get deep into the weeds — so to speak — of cannabis tax law. Our clients rely on us to know the relevant laws and help them reduce their tax burdens.