The Cannabis Accounting Podcast by DOPE CFO

By DOPE CFO

Business

What's The Cannabis Accounting Podcast by DOPE CFO about?

The DOPE CFO Cannabis Accounting Podcast discusses the ins and outs of cannabis/cbd/hemp accounting. Topics include 280E, chart of accounts, starting & growing your own firm, overcoming software challenges, and more! Looking to get into cannabis accounting? To learn more visit dopecfo.com.

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Ep. 111: Managing Anxiety i...

01.30.2023

Did you know anxiety is actually really common in the accounting industry? Forget the shame and forget just powering through it. Learning how to manage it is key for landing potential clients as well as improving your quality of life, ...

The Cannabis Accounting Podcast by DOPE CFO episodes:

01.30.2023 Ep. 111: Managing Anxiety in Cannabis Accounting Did you know anxiety is actually really common in the accounting industry? Forget the shame and forget just powering through it. Learning how to manage it is key for landing potential clients as well as improving your quality of life, ...
01.16.2023 Ep. 110: Cannabis Valuation 101 We’ve got specialized, “hard-to-come-by” information in today’s show. Cannabis business founders, CPAs, and accountants be prepared to take notes as industry expert Ron Seigneur, CPA ABV ASA CVA, founder of Seigneur Gustafson and inductee to The AICPA Business Valuation Hall ...
01.02.2023 Ep. 109: Real Estate in the Cannabis Industry: What Accountants Need to Know Real Estate in the Cannabis Industry: What Accountants Need to Know Whether clients are starting an indoor farm, outdoor farm, dispensary, or processing facility, real estate is a very real concern for Cannabis businesses. We’ll go over what you need ...
12.19.2022 Ep. 108: Cannabis Licensure & Social Equity in New York Do you have questions on how Cannabis licensure and social equity are being handled in New York? Tune in! DOPE CFO VIP member, Allison Kirchhofer, CPA, MBA, gives the lowdown on what’s going on in the massive Empire State that’s ...
12.05.2022 Ep. 107: GAAP Accounting & How it Applies to Cannabis Accounting Cannabis Businesses & Cannabis Accountants—Knowing & Doing GAAP Accounting properly is how you show your value! It’s a shame so few of today’s CPAs and accountants know how GAAP applies to Cannabis accounting. Get the lowdown on what 471-11 really ...
11.21.2022 Ep. 106: Betsy Morem & Mark Waller Share Their Tips on Bookkeeping (Right) for the Cannabis Industry Betsy Morem & Mark Waller of Morem & Waller CPAs, PLLC. have advice on bookkeeping for today’s Cannabis businesses and staying sane in the process! Learn how to fix (and prevent) those common bookkeeping blunders, remain 280E compliant month after ...
11.07.2022 Ep. 105: Surviving an IRS Audit in the Cannabis Industry In just 15 minutes, DOPE CFO founder, Andrew Hunzicker CPA, makes quick work of showing how most do Cannabis business accounting 100% wrong, and explains the approach to getting Cannabis businesses set up correctly and making them audit-ready month after ...
10.24.2022 Ep. 104: Cannabis Accountants & Businesses—Want Depreciation? Here’s What You Need to Do! Has depreciation for Cannabis businesses got you confused? Whether you’re an accountant or CPA serving Cannabis clients, or the CEO/founder of a legal Cannabis company, we've got straightforward information on depreciation and 280E and 471-11. Get informed about the applicable ...
10.11.2022 Ep. 103: Fraud Examiner David Lewis Talks Internal Controls and Corporate Governance for Cannabis Businesses Cannabis Businesses & Cannabis Accountants— Knowing corporate governance, having internal controls & accounting policies is SUPER important for all companies, but especially Cannabis companies, so tune in to learn how to reduce the possibility of fraud! --- Send in a ...
09.26.2022 Ep. 102: Expert Advice on Cannabis Licensing from Bridge City Collective Co-Founder David Alport Bridge City’s David Alport talks Cannabis licensing (transportation, cultivation, retail), licensing in various states, where things are headed (interstate, rollups), shares Cannabis startup marketing advice, and more. Unique info you need on your radar is here, so tune in! --- ...
09.13.2022 Ep. 101: How to Grow Your Practice in New & Emerging Legal Cannabis States w/ Rick LaNeve Just last year, CPA Rick LaNeve quickly went from zero Legal Cannabis clients to more than ten! Now, the founder of Accounting Buds and Chairman of the New York State CPA Society Cannabis Committee shares his tried-and-true advice on landing ...
08.29.2022 Ep. 100: Looking into the Future of Cannabis Accounting and DOPE CFO With even the most anti-Cannabis states coming around to legalization, the industry's future is bright -and profitable. The Cannabis space has changed dramatically since the first states voted for legalization back in 2012. In the 100th episode, DOPE CFO founder ...
08.15.2022 Ep. 99: Cashless ATMs & Other Illegal Merchant Services in the Cannabis Industry Cashless ATMs and Credit Card payment tricks by Cannabis businesses are considered fraudulent. Cannabis is a Schedule I substance, so any attempts to get creative with payment options will still be classified as money laundering by the Feds. In this ...
08.01.2022 Ep. 98: Behind the Scenes: AICPA & CIMA Cannabis Industry Conference 2022 Can you believe how far the Cannabis industry has come? Last year the AICPA (American Institute of Certified Public Accountants) recognized the industry with a few sessions at one of its conferences. This year the AICPA and CIMA have dedicated ...
07.18.2022 Ep. 97: How Investors Can Avoid Personal Tax Doom There’s risk and then there’s calculated risk. The calculated risk we were referring to on this episode of the Cannabis Accounting Podcast is the investments that require deep research into the past, present, and future of a company before deciding ...
07.04.2022 Ep. 96: Your First Year As A Cannabis Accountant Making the decision to become specialized as a Cannabis accountant may be the easiest decision you’ll ever make, and the most fruitful. The industry is booming, and it’s nowhere close to finishing its climb. Investing in learning NOW means you’ll ...
06.20.2022 Ep. 95: Get More Exposure For Your Firm As A Conference Speaker What if you could take your business further using what you ALREADY know about accounting? One of the best ways to keep your business growing is to share your knowledge by speaking at conferences and events. Events are prime locations ...
06.06.2022 Ep. 94: Harborside Case Review: Why Multiple Entities Won't Circumvent 280E Setting up multiple corporate entities for the sole purpose of getting around 280E will lead to a ton of trouble with the IRS. Just ask the folks over at Harborside. The (still) ongoing Harborside case has taught us how the ...
05.23.2022 Ep. 93: How can licensed Cannabis businesses prevent raids over unpaid taxes? Two licensed dispensaries were raided last month by the California Highway Patrol, with the California Department of Tax and Fee Administration on standby, to collect overdue state tax payments. The officers walked out with a couple of six-inch-high stacks of ...
05.09.2022 Ep. 92: 4 Myths CEOs Believe About Cannabis Accounting Understanding the myths that business owners believe about Cannabis accounting can give you a leg up on understanding their perspective and may better form how you pitch your value to them when you do reach out. For every myth they ...
04.25.2022 Ep. 91: Tips for Pricing Your Cannabis Accounting Services As accountants and bookkeepers enter the Cannabis industry, many find themselves unsure of how to quote their fees correctly. Many businesses need a thorough cleanup, monthly reporting systems set up, and constant compliance monitoring, but how can you possibly come ...
04.11.2022 Ep. 90: Entity Structure Considerations for Cannabis Investors and Owners As Cannabis business owners and investors grow their companies and expand their operations, some will inevitably be blindsided by personal tax liabilities that aren’t protected by their entity structure. The corporate entity’s structure determines the tax implications for owners, investors, ...
03.28.2022 Ep. 89: 5 Keys to Building a Successful Cannabis Firm After having helped several of our DOPE CFO members build 6-figure accounting firms over the last few years, we know what works. In this episode, Andrew Hunzicker, CPA shares what works for our members, and the 5 Keys to Building ...
03.14.2022 Ep. 88: A Closer Look at Tax Code 471 and the Challenges with Cannabis Inventories Legally reducing tax liabilities for Cannabis companies hinges upon compliance with one vastly misunderstood tax code: IRC 471. Cannabis companies are not allowed any deductions or credits, and courts penalize them for messy records. According to 280E, any business associated ...
02.28.2022 Ep. 87: What Are Cannabis Entrepreneurs Really Looking For In An Accountant? Let’s face it; Cannabis business owners are incredibly busy keeping up with updates within the industry, making it almost impossible for them to keep up with their finances. This is what makes Cannabis accounting essential to keep their business successful. ...
02.14.2022 Ep. 86: Best Practices for Networking at Cannabis Conferences It’s no secret that accounting professionals are intimidated by the Cannabis industry. Between finding information about the niche and landing clients, many shy away from the industry which leaves CEOs in need of experienced professionals. Of course, accounting fundamentals are ...
01.31.2022 Ep. 85: The Ultimate Guide to Cannabis/CBD Accounting, Bookkeeping, & Tax Experienced bookkeepers and accountants are essential in keeping cannabis companies penalty-free. The IRS and state tax agencies are ramping up their audits on Cannabis companies this year, and the industry needs trained bookkeepers and accountants more than ever to accurately ...
01.17.2022 Ep 84: How to Correctly Price Your Accounting Services from the Start Accounting professionals… it’s time for you to charge what you're worth! There are a million reasons why accounting professionals aren’t charging enough for their services. One of the most daunting questions that accounting professionals have when they first start their ...
01.04.2022 Ep. 83: How Cannabis Transformed My Practice--with Chip Schweiger, CPA, CGMA It’s a new year and the perfect time to finally take that leap into the exciting world of Cannabis. Getting into a new industry is scary and you might not know where to start or what to expect. Some of ...
12.21.2021 Ep. 82: A Deep Dive Into the Challenges of Working in Cannabis in Arizona -- with Samuel Richard It’s tough starting a business in an industry with so much red tape and unclear guidelines. For Cannabis business owners, there are numerous restrictions and they might start feeling hopeless and lonely. Groups like the Arizona Dispensaries Association (ADA) are ...
12.06.2021 Ep. 81: Why Social Equity Matters in the Cannabis Industry with Nina Parks (Gift of Doja) and Shaleen Title Social Equity. What does it mean in the Cannabis Industry? Andrew sits down with Shaleen Title (Cannabis Attorney and Speaker) and Nina Parks (Cannabis Activist) to talk about what social equity truly means in the Cannabis industry. It’s not new ...
11.22.2021 Ep. 80: An Outlook on IRS Audits and Tax for the Cannabis Industry in 2021/2022 As more states legalize Cannabis, the IRS is cracking down on tax audits. Recently, the IRS has announced they are specifically focusing on S-Corp and running a fine-toothed comb through CEOs’ books. Cannabis companies are a bigger target now than ...
11.08.2021 Ep. 79: Surviving an Audit from a Cannabis Owner’s Perspective -- with Tony Frischknecht Audits. That’s a word that makes most Cannabis accountants and their clients shake in their shoes. But the audit process doesn’t have to be so anxiety-producing. You just have to know what to expect. Our recent podcast features Tony Frischknecht, ...
10.25.2021 Ep. 78: IRS Audits, 280E, and Tax Laws: Legal Insights from a Cannabis Lawyer -- with Rachel K. Gillette In the Cannabis industry, it’s not a matter of if a Cannabis company will undergo an audit but when. As an accountant, it’s your job to understand the fundamentals of accounting and tax laws and regulations to help your clients ...
10.11.2021 Ep. 77: Innovating Your Cannabis Accounting Practice with AI -- with Jody Padar Most accountants are so busy they barely have time to live their lives. If you run a remote accounting or bookkeeping practice, one reason you started that endeavor may have been because you wanted to strike a better work-life balance. ...
09.27.2021 Ep. 76: How to Use Social Media to Book Cannabis Client Meetings and Land Signed Offers -- with Rosanna St. John Most accounting professionals squirm away from marketing. However, at the end of the day, the only way accountants and bookkeepers can land great clients is to level up their marketing chops in simple, strategic ways. In Episode 76 of our ...
09.13.2021 Ep. 75: The Power of Participation: A Cannabis Accountant’s Secret Marketing Weapon with Molly Mayfield Many Cannabis and CBD/hemp accountants don’t know how to market themselves, making it harder for them to get out there and land new clients. At DOPE CFO, one highly effective marketing tip we share with our students is to “participate.” ...
09.01.2021 Ep. 74: Strategies to Take the Stress Out of Landing Your First Cannabis Client One of the biggest roadblocks new Cannabis accountants face doesn’t have to do much with accounting. It’s client acquisition. Even after you have mastered every tax code, cost accounting process, and niche-specific requirement you still might face the overwhelming prospect ...
08.16.2021 Ep. 73: Cannabis Investors: Considerations When Determining Entity Structure As an accountant helping Cannabis companies, you have a big responsibility you may not even be aware of yet: helping set up entity structures. If you’re not aware of the importance of choosing the right entity structure, let’s pan quickly ...
08.02.2021 Ep. 72: From Seed to Sale: The Ins and Outs of Categorizing Inventory for Cannabis Companies Do you know how much it costs to produce and sell a pound of pot, from the moment a seed is planted to when the delivery truck ships it to its final destination? If you don’t know this answer, you ...
07.20.2021 Ep. 71: What Cannabis Investors Want: An Inside Look at Capital Raising with the Panther Group With the legalization of recreational Cannabis happening quickly for many states, and the influx of new businesses that have followed, it’s no surprise that investors far and wide have wanted to get a piece of these startup companies. Investors will ...
07.05.2021 Ep. 70: How to Help Your Cannabis Accounting Clients Navigate Inevitable Audits - with Summer Wilkinson Audits. There is no word accountants dread more. Audits can happen to any company in any industry, but with Cannabis companies being so closely watched by the IRS and other government entities, it’s less of wondering IF a company will ...
06.21.2021 Ep. 69: Core Skills to Lock Down Before Launching Your Cannabis/CBD Accounting Firm Cannabis is still a Schedule 1 drug. That means The IRS is keeping an extra close eye on all Cannabis companies and affiliates. For some clients, their very licenses may be on the line -- because haven’t received proper accounting ...
06.07.2021 Ep. 68: Work Smarter, Not Harder: Innovating Cannabis Accounting Solutions with JetPack Workflow Software While it’s fun to see the rewards that working hard brings us as accountants and bookkeepers, those rewards never seem to come without a bit of struggle. Sometimes, we need a little bit of help. (And that’s okay!) A great ...
05.24.2021 Ep. 67: Using the Cannabis Industry as a Force for Good: How to Set Up a B Corp Structure with Brad Green Despite the Cannabis industry’s massive growth over the last few years, the sector still isn’t universally fair for everyone. Several factors, including criminalization of marijuana-related charges among minority groups, have created inequalities when it comes to accessing and benefiting from ...
05.10.2021 Ep. 66: Navigating New York's New Cannabis Legislation as an Accountant with Rick LaNeve New York is one of two states that passed recreational marijuana laws in the last month. With this new legislation comes new opportunities, and new challenges, for accountants who are interested in representing this emerging clientele. On this episode of ...
04.27.2021 Ep. 65: Getting a Head Start on Cannabis Accounting in a New Legalized Market with Matt Mann Getting started in Cannabis accounting can be overwhelming for accounting professionals who have just started serving Cannabis clients or for those who are still considering the niche. It’s especially difficult when your state has just legalized marijuana and things are ...
04.12.2021 Ep. 64: 5 Ways to Handle Petty Cash Transactions in the Cannabis Industry Proper cash and company credit card management is essential for clean books, but it can be difficult to organize your clients’ many transactions. The lack of banking services available to Cannabis businesses means the companies’ bills are often paid in ...
03.29.2021 Ep. 63: Establishing Much-Needed Social Equity in the Cannabis Industry with Carlos Vela The increasingly widespread legalization of Cannabis has led to thousands of opportunities for CEOs and consumers around the country, but not all opportunities are created equal. For minority communities, the Cannabis industry can be an unfair and unfavorable marketplace. BIPOC ...
03.15.2021 Ep. 62: It’s a Cash-Only World: Easing Cash-Based Headaches in the Cannabis Industry As a cash-based industry, Cannabis is plagued with issues many businesses aren’t, from security issues to struggles with reconciling POS systems. The proper handling of cash can make or break a Cannabis company’s compliance, licensing, and profitability. Cannabis CEOs, executives, ...

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