Get clear on Cannabis Accounting and Taxes
Get up to speed on what you need to know in cannabis accounting
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It's hard to operate a profitable and compliant cannabis business.
Operating in the Cannabis Industry is like no other industry. It requires strong organization, solid accounting, and a firm grasp of cannabis compliance. Hundreds of businesses go out of business each year because they don’t have solid accounting or compliance practices.
The cost of improper accounting can shut down a business
Cannabis accounting is different and nuanced.
The cost of not knowing the state and federal taxes, cannabis compliance, and best practices in handling an all-cash business could lead to fines, penalties, and cash flow issues down the road.
Cannabis businesses must have a solid accounting strategy and need to focus on managing cash flow, inventory, all while staying competitive in a highly regulated market.
Good accounting is the foundation to building a profitable cannabis business.
It's important to have a constant stream of capital moving through the business. The way you can do this? Through building a profit strategy.
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Cannabis Business have different federal tax obligations (IRC 280e)
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Cannabis businesses pay state and Local Cannabis Taxes
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Most cannabis work in all cash and have IRS reporting requirements
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Cost Accounting is a pillar for cannabis cultivators and manufacturers
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Cannabis businesses need good inventory management systems and practices
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Cannabis businesses need good financial Controls
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Cannabis business are required to track all cannabis on the seed to sale tracking systems
Cannabis businesses need qualified and skilled accountants
Let's face it. A highly regulated, emerging industry, high growth, high taxes, and it's still not federally legal. In such a nascent and emerging industry, cannabis businesses need highly skilled accountants to help them plan, grow and scale.
Whether it's tax planning, capital raises, daily bookkeeping, or financial oversight, your cannabis business will need a skilled accountant.
Approach cannabis accounting with the right framework
Get the tools to level up your cannabis expertise and confidently get up to speed on the nuances of working in cannabis and how to navigate cannabis accounting, regulation, and compliance.
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A deep overview of cannabis taxes and best practices to minimizing the tax burden
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Best Practices in Financial Procedures for a Cannabis Business
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Feel prepared for operating in an all cash environment
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Feel confident about the IRS requirements for cannabis businesses
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Inventory Controls and Best Practices
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Best practices in onboarding cannabis clients
Accounting Intro to the Industry
Get an overview of the ecosystem, regulations, and taxes impacting businesses in the industry.
Build and IRC 280e Strategy
Learn how to estimate 280e taxes, get comfortable about what you can and cannot deduct, learn how to perform an inventory allocation, and feel good about an IRS audit
Industry Specific Chart of Accounts
Unlock an industry-specific chart of accounts and guide that you can use for cultivators, manufacturers, distributors, or retailers.
Get Best in Class Procedures
Get cash management, inventory management, and key financial and operational best practices that you can start implementing today in a cannabis business.
Unlock these templates and Checklists
Get up to speed with these workpapers, process control questions, and checklists
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IRC 280e Calculation Tools and Checklists
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Cash Control Checklist
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Inventory Control Checklist
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Onboarding a New Cannabis Business Checklist
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Questions to ask when assessing the purchases process in the business
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Questions to ask when assessing the accounting process in the business
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Questions to ask when assessing the inventory process in the business
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Questions to ask when assessing the cash process in the business
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Period End Checklist
Is Cannabis Finance Bootcamp for you?
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Are you the finance or compliance responsible at a cannabis business? Or plan to be?
This program is for you if you will be responsible for cannabis or hemp accounting and compliance. If you're a bookkeeper, accountant, compliance consultant, or employee in operations and accounting and need a high-level view of cannabis accounting strategy, it's time to take action!
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Are you getting stuck and need a roadmap?
Imagine having a finance and compliance roadmap, templates, and checklists, delivered directly to you. You’ll have access to hundreds of hours spent consulting business owners, creating business solutions for businesses in cannabis, manufacturing, agriculture, and retail delivered directly to you.
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Do you want a community of support and lifetime access?
When you enroll in the training, you will have instant and LIFETIME access to the training and course modules. You'll have access to participate in our online community group and ask questions on our group forum.
Still on the fence?
If you're thinking about being an accountant in cannabis, check out the tax guide!
Finance, Compliance, and Industry Expertise
+5 Years of Operating in Regulated Cannabis
I made the jump from corporate to cannabis in 2015. As a PwC alumnus, my experience with working in the agriculture, manufacturing, retail, entertainment, and technology industries has been beneficial in cannabis.
My tenure in cannabis has led to winning competitive cannabis applications, successful capital raises for cannabis business owners, tax-saving strategies, and best in class business processes. I have experience lobbying on both a local, state and federal level. I'm a published author, speak on best practices in cannabis business around the world, and love talking about cannabis compliance and accounting!
What are students are saying
I have a plan
”I came in basically clueless and left with a great plan! Since that day I've taught my team everything you advised and we have been trying to enforce a whole new inventory system at our LA location. And it has been great!
“It was very informative.”
Great Bundle of Information
The packet we took home was very helpful. The inventory and product section of the course was helpful.