{"id":55816,"date":"2018-08-20t04:20:50","date_gmt":"2018-08-20t08:20:50","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=55816"},"modified":"2018-10-30t16:43:27","modified_gmt":"2018-10-30t20:43:27","slug":"bruce-jolliff-jumping-into-cannabis-head-first","status":"publish","type":"post","link":"\/\/www.g005e.com\/2018\/08\/20\/bruce-jolliff-jumping-into-cannabis-head-first\/","title":{"rendered":"bruce jolliff: jumping into cannabis head first"},"content":{"rendered":"
\"portrait<\/a>
jolliff<\/figcaption><\/figure>\n

\u201ci want to help these people save money on taxes, so they can use it to build their business.\u201d<\/strong><\/p>\n

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

bruce jolliff is turning his attention to cannabis clients.<\/p>\n

more cannabizcpa.pro<\/a><\/span>:<\/b> dope cfo levels up its offerings<\/a> | marcum llp: moving forward in cannabis with confidence<\/a> | tom achor: at the intersection of cannabis accounting and technology<\/a> | podcast: john repetti and mitzi hollenbeck of citrin cooperman<\/a> | 4 best things about being a \u2018dope\u2019 accountant<\/a> | five reasons accountants should serve cannabis clients<\/a> | the fire starter: groundbreaking cannabis cpa luigi zamarra<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

a cpa and a forensic accountant who spends a majority of time providing outsourced controller and cfo services, jolliff is jumping head first into cannabis. and he\u2019s ready.
\n
\nhe has five objectives when he works with entrepreneurs:<\/p>\n

    \n
  1. clarify your direction,<\/li>\n
  2. strategize your actions,<\/li>\n
  3. upgrade your skills,<\/li>\n
  4. optimize your environment and<\/li>\n
  5. master your psychology.<\/li>\n<\/ol>\n

    and he plans to apply those to cannabis clients.<\/p>\n

    based in san diego (but currently working from redmond, oregon), he\u2019s a firm believer in the remote office and says it\u2019s the best way to build out a cannabis practice. he decided on cannabis because, well, it caught his attention.<\/p>\n

    \u201ci\u2019ve been doing a lot of research and talking with many people in the industry and the positive effects from cannabis are undeniable,\u201d he said.<\/p>\n

    jolliff has been concerned about the environment for years and sees hemp as a viable alternative to trees in creating paper, for instance. if he can help cannabis companies run their businesses successfully with the value of sustainability, that would be ideal.<\/p>\n

    \u201cthere\u2019s been a huge improvement, but we aren\u2019t there yet,\u201d jolliff said. \u201cthere are a lot of people who don\u2019t want to get involved in any of this quite yet. the federal government is still hanging it over our heads because it is a schedule 1 narcotic. we should be making all of our paper products from hemp instead of the forest, but the government hasn\u2019t stepped in and made it easier for people to get involved. right now, there\u2019s still a risk.\u201d<\/p>\n

    though jolliff doesn\u2019t work strictly with cannabis clients (he\u2019s been consulting for more than 20 years across a spectrum of industries including private investigating, electrical engineering, retail, manufacturing, processing and restaurants), his marketing efforts now are focused on the industry. he said he sees a strong need among cannabis companies for financial expertise to help with irs code 280e and navigating the complexities of calculating cost of goods sold.<\/p>\n

    \u201centrepreneurs generally are not accountants and they are going to find out that either they pay a professional to help them do it right the first time or run the risk of serious problems with the irs down the road,\u201d he said. \u201cit\u2019s an awareness thing and i want to help cannabis businesses become aware of the proper way to set up their books and records and pay only the amount of taxes they are legally obligated to.\u201d<\/p>\n

    jolliff\u2019s experience working with cannabis companies extends to helping operators develop a grow facility and assisting startups looking for funds and creating an investment structure to develop a processing plant.<\/p>\n

    as a certified fraud examiner, jolliff brings additional skills to the table \u2013 especially as they relate to internal controls. he said the two integral parts of the industry \u2013 cash and marijuana \u2013 are both highly desirable and easily concealed, so there\u2019s an opportunity to do forensic work, especially when you are setting up a system or process.<\/p>\n

    jolliff said his ideal client is legitimate (aka not on the black market) and has a relaxed lifestyle and philosophy. he values fun and wants his clients to be comfortable and collaborative while still maintaining a competitive edge.<\/p>\n

    \u201ci want to help these people save money on taxes, so they can use it to build their business,\u201d he said. \u201ci want to help them run their business efficiently, so that the business isn\u2019t running them. i want us all to have fun while we\u2019re growing a viable and profitable business.\u201d<\/p>\n

    as for whether that client is a grower, processor, dispensary owner or lab, jolliff doesn\u2019t have a preference \u2013 though he does say the biggest opportunity for tax breaks would be with those companies that have cost-related operations, such as growers and processors.<\/p>\n

    \u201cin the next year, i\u2019d like to be working with a few select growing facilities, maybe young cannabusinesses,\u201d jolliff said. \u201cbusinesses that are on an upward path, they are growing, they have a plan and they are working on their plan. i want to be an integral part of that.\u201d<\/p>\n