The Dope CPA is a firm founded by Summer Thorn after spending years working for the military and studying criminal justice. She decided to use her passions and her skills in accounting and finance to serve the cannabis industry. Today on the show, we are joined by Summer and her colleague Malissa to uncover some unique challenges with the cannabis industry and discuss how important industry specialization is when searching for a financial professional.

 

Malissa spent over 20 years in retail management, analysis and bookkeeping. She has spent the last four years on the dispensary side of the cannabis industry in both the Colorado and New Mexico markets. Based out of her hometown of Farmington, NM, Malissa spends her off time as an active member of several local non-profit organizations all while enjoying the perks of being a first time grandmother.

 

Website: Www.DopeCPA.org

 

What you'll hear in this episode:

[4:35] Summer dives into why she decided to take the leap into the cannabis industry as an accountant.

[9:10] What are some unique challenges of the cannabis business that differs from other small businesses?

[12:52] Summer goes over some of the success factors when it comes to financial management.

[17:21] Summer reviews what the laws regarding cannabis are and what the different levels are.

[20:39] How being niched down on a specialized industry can benefit your business.

[23:41] Summer talks about what her outlook on the cannabis industry.

 

 

If you like this episode, check out:

Real Talk on Social Media Tax Advice

Are Groceries Deductible?

How to Use Cost Segregation for Real Estate Tax Savings with Sean Lichterman

 

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Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.