Sprinkle a Little Fraud on that Doobie

by Brian S. Whalen, CPA October 21, 2019 § 280E, #CannabisCourt, COGs, IRS, Legal, Tax

Another Tax Court Win for the IRS vs. Cash Intensive Businesses in the Cannabis Industry Mr. Chico, an entrepreneur and registered

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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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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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