cannabis

leveling the playing field for cannabis businesses

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portrait of brian whalen
whalen

green bean cfo tackles the common problem of irs form 8300.

by liz gold
cannabizcpa.pro

“a savvy ceo owner knows that a world-class cannabis finance and accounting team is a necessity and a competitive advantage,” writes brian whalen, cpa in the opening to his book, “cannabis entrepreneurs’ guide to accounting, taxation & financial compliance.”

more on cannabiz: strimo: new tech for managing cannabis business performance | cohnreznick goes national on cannabis | minorities, women & cannabis | cpa takes his cannabis practice on the road | leveraging r&d credits and depreciation for cannabis clients
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“there is only one right way to do cannabis accounting,” he writes. “doing accrual/cost accounting in accordance with generally accepted accounting principles (gaap) ensures that you pay as little tax as possible, are always state compliant and irs audit-ready, and have financial statements ready for securing investors and lenders. in addition, performance metrics can be harnessed from your financials and used to set goals for operations and management.”
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strimo: new tech for managing cannabis business performance

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portrait of jacques santucci
santucci

could this be the new standard?

by liz gold
cannabizcpa.pro

if you’re in the cannabis industry and you’re working with cannabis clients, you’ve likely had your fair share of experiences with point-of-sales systems. like all technology, some platforms work better than others and the key is to find the right system for your company’s particular needs. often it’s a compromise or giving up a function for a feature that is more important.

more on cannabiz: cohnreznick goes national on cannabis | cannabis: embracing risk as a market advantage | john pellitteri takes grassi full steam into the cannabis industry | moving beyond 280e: dean guske on the cannabusiness
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enter strimo.
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cohnreznick goes national on cannabis

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portrait of michael harlow
harlow

tax maven michael harlow leverages firm’s real-estate prowess to build a new national niche.

by liz gold
cannabizcpa.pro

as the tax lead for cohnreznick’s cannabis practice, michael harlow, says the biggest barrier to entry for cannabis businesses on the east coast is finding the right real estate for their endeavor.

more on cannabiz: cannabis: embracing risk as a market advantage | cristina garza: keeping cannabiz clients in compliance | cannabis: top trends to watch in 2019 | cannabis cpa carves out investment research niche | ‘genius accountant’ helps cannabiz clients manage effectively | bruce jolliff: jumping into cannabis head first | mark guiley oversees new cannabis niche | jessica velazquez on cannabis accounting and activism | podcast: jim marty and cory parnell go national | 5 biggest mistakes cannabis ceos make
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“the biggest barrier to entry for east coast cannabis businesses is finding the appropriate real estate for their endeavor,” says harlow, cpa and national tax leader for cohnreznick’s cannabis practice. read more →

cristina garza: keeping cannabiz clients in compliance

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new accounting technology is part of the package.

by liz gold
cannabizcpa.pro

when cristina garza launched her cannabis accounting and payroll company, cannacomply, back in 2014, she wanted to make sure she understood the nuances and complexities of the industry.

more on cannabiz: minorities, women & cannabis | john pellitteri takes grassi full steam into the cannabis industry | moving beyond 280e: dean guske on the cannabusiness | 5 challenges for cannabusinesses | dope cfo levels up its offerings
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a new transplant to denver, garza was already running accountingprose, an accounting company providing bookkeeping, payroll and advisory to small businesses. if you haven’t seen her website you should – she dubs her team “small business superheroes” and calls herself “chief number cruncher” in her email signature. read more →

john pellitteri takes grassi full steam into the cannabis industry

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portrait of john pellitteri
pellitteri

it began with health care.

by liz gold
cannabizcpa.pro

when john pellitteri noticed a significant increase in the cannabis-related questions in the business community, he immediately took ownership of building the consulting team that was missing to help guide those conversations into opportunity.

more on cannabiz: cannabis: top trends to watch in 2019 | cpa takes his cannabis practice on the road | leveraging r&d credits and depreciation for cannabis clients | 5 challenges for cannabusinesses | dope cfo levels up its offerings | cannabis trends: what cpas need to know for 2018 and beyond | podcast: drew dearlove talks about the cannabis business | five secrets to launching your own cannabis accounting firm
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pellitteri, the healthcare and cannabis practice leader at grassi & co., headquartered in new york, ny, has spent close to 30 years working with hospitals, physicians and outpatient centers. at the beginning of 2016, he started fielding questions about medical cannabis.
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cpa takes his cannabis practice on the road

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portrait of frank palomino jr.
palomino

he says 280e issues aren’t going away.

by liz gold
cannabizcpa.pro

frank palomino jr. is ready to roll up his sleeves for cannabis companies.

more on cannabiz: moving beyond 280e: dean guske on the cannabusiness | cannabis cpa carves out investment research niche | ‘genius accountant’ helps cannabiz clients manage effectively | bruce jolliff: jumping into cannabis head first | mark guiley oversees new cannabis niche | jessica velazquez on cannabis accounting and activism | podcast: jim marty and cory parnell go national
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having obtained his cpa designation in march 2017, palomino started his company just a few months later in july to live the cpa dream of hanging out a shingle and building up a book of clients.
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moving beyond 280e: dean guske on the cannabusiness

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portrait of dean guske
guske

why the industry is in a sweet spot right now.

by liz gold
cannabizcpa.pro

here’s a piece of advice for accountants and cpas in the cannabusiness industry – don’t get hung up on 280e.

that’s right, you read correctly.

more at cannabizcpa.pro: matthew karnes provides cannabis research for investors |  leveraging r&d credits and depreciation for cannabis clients | cannabis lights up midterm ballots | squar milner takes on cannabis in california and beyond | marcum llp: moving forward in cannabis with confidence | tom achor: at the intersection of cannabis accounting and technology | podcast: john repetti and mitzi hollenbeck of citrin cooperman.| leveraging r&d credits and depreciation for cannabis clients | 5 challenges for cannabusinesses | dope cfo levels up its offerings | cannabis trends: what cpas need to know for 2018 and beyond

more dean guske:  the wild world of weed: tax season never ends [video]  |  america’s new breed of cannabis cpas [video]

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at least, according to dean guske, cpa, mst and owner of guske & company in bellevue, washington.
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cannabis cpa carves out investment research niche

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matthew karnes suggests ancillary businesses, not growers.

by liz gold
cannabizcpa.pro

by 2022, matthew karnes, cpa, said he expects every state in the country will have implemented either a medical-only or a fully legal cannabis market to reach $35 billion in retail sales.

more at cannabizcpa.pro: leveraging r&d credits and depreciation for cannabis clients | cannabis lights up midterm ballots | squar milner takes on cannabis in california and beyond | marcum llp: moving forward in cannabis with confidence | tom achor: at the intersection of cannabis accounting and technology | podcast: john repetti and mitzi hollenbeck of citrin cooperman
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

karnes, who is the founder of greenwave advisors, talked about his projections for the industry’s growth in the opening keynote for the nysscpa cannabis conference.
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leveraging r&d credits and depreciation for cannabis clients

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portrait of bryan mcdonald
mcdonald

cpamd’s bryan mcdonald shows clients how to start off on the right foot.

by liz gold
cannabizcpa.pro

how a cannabis company is structured can have huge tax implications – and getting companies set up correctly, from the get-go, is what bryan mcdonald does when he starts working with a cannabis client.

more at cannabizcpa.pro: cannabis lights up midterm ballots | ‘genius accountant’ helps cannabiz clients manage effectively | bruce jolliff: jumping into cannabis head first | mark guiley oversees new cannabis niche | jessica velazquez on cannabis accounting and activism | podcast: jim marty and cory parnell go national | 5 biggest mistakes cannabis ceos make
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

as he said, “how you form your entity is really key. it is much more difficult to do that later in the life of a cannabis company.”
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