{"id":53193,"date":"2017-11-10t05:01:06","date_gmt":"2017-11-10t10:01:06","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=53193"},"modified":"2017-11-28t12:09:06","modified_gmt":"2017-11-28t17:09:06","slug":"cpa-kim-walker-cant-afraid-diving-marijuana","status":"publish","type":"post","link":"\/\/www.g005e.com\/2017\/11\/10\/cpa-kim-walker-cant-afraid-diving-marijuana\/","title":{"rendered":"cpa kim walker: \u2018we can\u2019t be afraid of diving into marijuana\u2019"},"content":{"rendered":"

\"cannabiswhen clients demand your expertise.<\/strong><\/p>\n

by liz gold
\ncannabizcpa.pro<\/a>
\n<\/em><\/p>\n

\"\"
walker<\/figcaption><\/figure>\n

kim walker came into the cannabis industry by what she describes as happenstance.<\/p>\n

more on cannabiz:<\/b> cannabiz cpa: dani espinda chooses option number three<\/a> | jordan cornelius: guiding cannabiz clients through minefields<\/a> | wayne harding: from tech boom to cannabis boom<\/a> | america\u2019s new breed of cannabis cpas [video]<\/a> | the rise of a cannabiz cpa<\/a> | what\u2019s a cannabiz worth? ask a cpa.<\/a>
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in fact, she was merely following the needs of her clients.<\/p>\n

walker, who has 35 years of public accounting experience and runs her small practice in las vegas, said it was her wealthiest business clients who brought her into this niche. they came to her with new licenses to start growing medical marijuana and were jumping in fast because of the potential for profitability.<\/p>\n

once they obtained the licenses. however, the question remained: now what?<\/p>\n

her clients looked to her for answers, so she started learning about the laws.<\/p>\n

\u201cthe interesting thing about nevada is that the people who obtained the licenses tended to be wealthier \u2013 because they were very expensive to get \u2013 and had no background in growing or farming,\u201d said walker. \u201cthey were insurance agents, bankers, attorneys or an eclectic group of businesses owners that said, \u2018let\u2019s get a license.\u2019\u201d<\/p>\n

that was two years ago when medical marijuana licenses were going for upward of $300,000 a pop in nevada. and the payment had to be in cash.<\/p>\n

as someone who had no personal experience with marijuana, walker never expected to be involved in the industry but is excited about the opportunities and growth that continue to emerge.<\/p>\n

\u201cthe biggest surprise for me was that i just didn\u2019t realize how big and sophisticated it was because i never paid attention,\u201d she said. \u201cso, when it was legalized here, i realized i should know something about it.\u201d<\/p>\n

cannabis clients \u2013 who are currently only growers and distributors \u2013 make up a small percentage of walker\u2019s client base, which covers southern nevada, western arizona, and southern california, but she includes listing cannabis\/medical marijuana accounting services on her website. her other clients are family-owned businesses or partnerships across a spectrum of industries with one to four owners and fewer than 50 employees. she has a full-time tax preparer on staff and hires a part-time cpa to help during tax time.<\/p>\n

\u201cit\u2019s fun having something brand new, it\u2019s captivating,\u201d she said about the industry. \u201cafter so many years in this, it reinvigorates. i like that about it a lot.\u201d<\/p>\n

since taking on cannabis clients two years ago, walker said there are three main challenges she sees her clients facing from her work in nevada \u2013 aside from section 280e in the tax code and the questions around the federal government\u2019s stance:<\/p>\n