As the cannabis industry continues to grow, IRS auditors will be taking aim at cannabis business operators due to their lack of understanding around cannabis business taxes and cannabis compliance regulations. In this episode, Jim will cover topics that help you prepare and get your cannabis accounting in order including: What draws attention from authorities […]

As you know, cannabis businesses deal with a lot of cash, and often times it comes into the business in big amounts. Did you know that cash transactions of $10,000 or more REQUIRE that you fill out an IRS Form 8300 to stay compliant? During some of our CFO onboarding calls, we find that many […]

In this episode, Jim talks about the major opportunity around the emerging hemp industry and how you can position yourself to take advantage of this. He covers topics including: Difference Between Hemp & Cannabis Market Opportunity Affected Products & Industries Licensing Application Requirements & Fees Testing Process for Hemp Financial Aspects Profitability Considerations If you […]

Creating cannabis white label products is a relatively cheap and fast way to prove your concept and get to market ahead. In this episode, Jim will discuss: White Label vs. Private Label Red Tape You Need to Address Pros and Cons of White Labeling Which White Label Products to Start With Capital Needs Considerations for […]

In this episode, Jim and Alan discuss a few hot topics in cannabis including: Cannabis Banking & Cannabis Accounting Vaping and Cannabis Vape Pen Danger Cannabis Taxes Audits for the Cannabis Industry If you need help with creating an offensive tax strategy for your cannabis company, then please reach out to GreenGrowth CPAs via our […]

In this episode, Jim gives you a 30,000 foot look at how you combine and integrate two cannabis businesses once the M&A deal is completed. He covers topics including how to report consolidated financials, integrating people and cultures, and how to choose the best policies and procedures for the business. If you need help with […]

As you begin to hire workers for your cannabis business, it’s important that you classify them properly as employees or contractors, because if you don’t then you could be opening yourself up to huge issues down the road. In this video, Jim will cover: Considerations Around Worker Classification Paying Payroll in Cash Payroll Taxes Issuing […]

As the cannabis industry explodes in popularity, more and more entrepreneurs will be seeking outside funding to help propel their businesses to the next level. This could be seed funding helping them get off the ground, or filling up their war chest in a Series C so that they can crush the competition. In the […]

​​​​​​​In this episode, Jim will break down the Due Diligence process of a successful acquisition in the cannabis industry He will cover: What are the MOST IMPORTANT DD items on the balance sheet, profit and loss statement and intangible items How to value and negotiate a successful M&A transaction by using what you find during […]

In this episode, Jim breaks down how cannabis companies can take advantage of Research and Development (R&D) Tax Credits. He details: Mitigating 280e conflicts Which expenses qualify Which activities (that you’re already doing) will qualify If you would like to take advantage of the R&D Tax Credits, then please reach out to us at https://GreenGrowthCPAs.com/get-started […]