Taxation, 280E, and the Challenges of Accounting for Cannabis Dispensaries
From cash control and management issues to correct reporting, to seed to sale and POS software, providing quality accounting for Cannabis dispensaries is not easy. Furthermore, make the wrong move and you could incur large penalty fees for your client, land them in serious legal trouble, or both.
Currently, there are hundreds if not thousands of accounting professionals claiming to have Cannabis accounting experience but they’re making big mistakes. Misinterpreting the tax code in...