Key Insights from the 2024 AICPA Cannabis Conference: Industry Updates & Opportunities
The Cannabis industry is undergoing transformative changes, with rescheduling imminent and valuations expected to surge. This comprehensive overview from the 2024 AICPA Cannabis Conference highlights crucial developments affecting businesses, investors, and service providers in the space. Watch the video for an in-depth overview of AICPA's 2024 Cannabis Conference.
We cover:
- Industry support and leadership
- The cannabis legalization landscape
- Rescheduling Updates
- Financial and Tax...
Rescheduling Cannabis: How It Will Shake Up Accounting & Tax
The Cannabis industry is on the cusp of a monumental shift that's about to rock the accounting and tax world. As a CPA with nearly a decade of experience in this niche, I've watched this industry explode from the ground up. We've gone from zero to a $33 billion legal market in 2023, with support for legalization at an all-time high. But hold onto your calculators, folks – what's coming next is going to make the past few years look like a warm-up lap.
In April 2024, the DEA dropped a...
Cannabis 2023 Review and 2024 Outlook: Growth and Regulatory Shifts
Over the past decade since Colorado first legalized recreational Cannabis in 2012, the Cannabis industry has grown massively despite conflicting state and federal laws. The legal market hit $33 billion in 2023, while polls show 70% of Americans now support full federal legalization.
While various sectors of the US economy have been turbulent over the last couple of years, the industry still experienced some growth in 2022-2023. Industry analysts and advocates remain optimistic about the...
How to Build a Successful Cannabis/CBD Accounting, Tax, and CFO Firm in Six Months
Building a successful Cannabis/CBD Hemp accounting, tax, and Chief Financial Officer firm within six months is highly possible. Many DOPE CFO members have done it themselves, some in just a matter of weeks or months. It will however require work, commitment, putting in the time, and going through all of the necessary steps we will talk about in this blog post. If you’re wondering whether you can build your own firm while you keep your day job, the answer is yes.
One major thing to...
First AICPA Cannabis Conference Paves the Future for the Industry
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...