David Alport, co-founder of Bridge City Collective, started his Cannabis career in 2009 as a medical Cannabis cultivator in Oregon, after receiving his BA in Business with a focus in Finance from the University of Puget Sound, a career at Nike, and stint as a trader at the Mercantile Exchange in New York.

Today, David is the co-founder of two cultivation sites and two of Portland, Oregon’s first licensed dispensaries. Now, more than a decade since he joined the industry, he and business...

As they say, knowledge is power. Social equity applicants for Cannabis licenses have a number of important things to stay on top of as they apply for licensing and work to raise capital. Among them are a great and grounded pitch deck, a well-thought-out capital and entity plan, a bullet proof financial model, appropriate entity and funding structure, and the right team, including a qualified CFO.

Whether you are a social equity applicant or want to help those who are seeking licensure in...

Many Cannabis businesses such as dispensaries, manufacturers, and cultivators tend to have a lot of cash on hand, even six-figure amounts, due to there being a lack of available banking services and solutions. Obviously, safeguarding massive amounts of cash is essential to day-to-day operations but there are many other reasons why managing cash flow matters greatly. 

With improved cash flow comes greater peace of mind, greater profits, and better forecasting. That’s not all. A...

Last year was a landmark year for the Cannabis industry with the AICPA (American Institute of Certified Public Accountants) acknowledging the potential for career growth in this rapidly expanding sector.

Now, just one year later, the Cannabis industry is nowhere near finishing its climb; instead it’s expanding as more and more states get on board with legalizing Cannabis. This year there is an entire Cannabis conference dedicated to bringing together industry leaders, including a more...

If watching the pioneers in the Cannabis industry has taught us anything, it’s that getting businesses up and running and maintaining compliance has been a rocky road with plenty of tax and regulation pitfalls. It’s a lucrative industry slated for exponential growth. Experts predict the industry will breach $89 billion in the next two years – but those aren’t the only numbers that should concern new Cannabis business owners.

Along with growth in this industry comes...

In order to apply for a Cannabis business license, state and local agencies often have similar (but different) requirements and hoops that hopeful operators must jump through in order to make it through the process. The licensing process is daunting and expensive for the simple fact that states' and local jurisdictions' requirements make it so that the prospective license holders may have to shell out thousands (or even millions) of dollars, and/or be on the hook for that much in...

Did you know that finding a location and going through the permitting process is one of the first things that Cannabis licensing authorities are asking for from applicants? One of the greatest challenges that Cannabis business owners face is finding a place to operate. Just because Cannabis is legal doesn’t mean that local authorities will allow operators in their jurisdiction. Then there’s zoning and dealing with the community at large to approve an incoming Cannabis business.

...

Ever since the green wave of Cannabis started sweeping the nation, the state of bookkeeping and accounting has been changed as we know it. With more and more states legalizing both recreational and medicinal marijuana, the need for experienced accounting professionals is higher than ever.

But Cannabis Accounting isn’t as simple as one may hope. You may be familiar with some of the rules and regulations put in place from 280e and 471, but do you know the extent of legal trouble you could...

When it comes to cannabis record-keeping, not every dispensary wants to spend the fees on an accountant specific to the niche. That’s what happened to one dispensary owner in Colorado, who owes $391K in tax deficiencies and an additional $78K in accuracy-related penalties.

But how exactly did this happen?

According to the notice of deficiency for tax years 2010 and 2011, the IRS found poor record-keeping, lack of check registers, no physical inventory counts, reduction of COGS, and the...

As states across our country continue to legalize Cannabis every year, CPAs, bookkeepers, and accounting professionals are steadily encountering new clients who want to serve the Cannabis industry. The AICPA (American Institute of Certified Public Accountants} has now recognized the need for providing guidance and support to accountants who may support the quickly growing Cannabis market. 

Calling on industry leaders, the AICPA held its first 2-day Cannabis education conference, the...