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Do I Really Need a Cannabis Focused CPA/CFO?

by Brian S. Whalen, CPA January 28, 2019 § 280E, Accounting, Cannabis, Cannabis Business, COGs, Dispensary, Tax

  The problem is, many excellent CPAs, attorneys and consultants who don’t specialize in cannabis may unintentionally give you the

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High Aspirations in Cannabis?

by Brian S. Whalen, CPA January 22, 2019 Cannabis, Cannabis Business, Dispensary, Legal

  The cannabis industry is the fastest growing industry in the United States, with $9 billion in revenues in 2017

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6 Priorities for Your Cannabis Business

by Brian S. Whalen, CPA January 20, 2019 § 280E, Accounting, Cannabis Business, Compliance, Cost Accounting, Internal Controls, IRS, Tax

  Get Your Priorities in Order The cannabis industry is the fastest growing, most rapidly changing, overly complex industry in

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Cannabis Business Entities – Choose Carefully

by Brian S. Whalen, CPA January 09, 2019 § 280E, Accounting, Cannabis, Cannabis Business, Legal

  To address all of the factors that go into selecting an entity, we would need a book that references

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Is Your Cannabis Management Company a Ticking Time-Bomb?

by Brian S. Whalen, CPA December 27, 2018 § 280E, Cannabis, IRS, Legal, Tax

  Do you have a cannabis “management” company which is doing either of these things: Making transactions for the benefit

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Hemp & Cannabis – A new Sheriff in Town?

by Brian S. Whalen, CPA December 21, 2018 § 280E, Cannabis, Cannabis Substances Act (CSA), CBD, DEA, FDA

With industrial hemp no longer scheduled under the Controlled Substances Act, or under the jurisdiction of the DEA as of

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Who’s in CONTROL of Your Cannabis Company?

by Brian S. Whalen, CPA December 17, 2018 Cannabis, COGs, Dispensary, Internal Controls

  Auditors may ask you for your internal controls procedures, and we don’t want that to be the first time

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Are Your Cannabis “Write-offs” Right? A Quick Check

by Brian S. Whalen, CPA December 13, 2018 § 280E, Accounting, Cannabis, COGs, Cost Accounting, Deductions, Tax

The title is a trick question. There are no  “write-offs” in Cannabis, only COGS.  You may reduce your gross receipts

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Ever Receive Cash for Cannabis? You Need to Know this…

by Brian S. Whalen, CPA December 10, 2018 Accounting, Bank Secrecy Act (BSA), Cannabis, Form 8300, IRS, Legal, Tax

Audits and stiff penalties have arisen due to cannabis companies neglecting to properly and promptly file IRS Form 8300s.

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