Ep. 33: Why Accountants Should Consider the CBD/Hemp Niche
02.03.2020 - By The Cannabis Accounting Podcast by DOPE CFO
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CBD/hemp is one of the fastest-growing industries in the world right now.
This podcast episode will provide you with some basic information so that you can consider CBD/hemp as your accounting niche. If you were hesitating on entering the Cannabis niche (crazy idea btw) then the CBD industry may be the perfect gateway client for you… And since CBD/hemp is technically legal here in the US, the accounting risks are much lower than in the Cannabis industry.
Listen in to learn more about what is involved in accounting for CBD/hemp businesses. Here are a few of the CBD/hemp specifics (and differences to Cannabis) that I share on this episode:
The differences between IRC 471 and 263
Farm accounting (and cash vs accrual choice)
Any IRC 199A issues related to each individual owner in the business.
...and more!
If you would like to download the guide I mentioned in this episode, "Accountant's Guide to Managing Your Clients CBD/Hemp Accounting Needs" follow this link: http://bit.ly/2RmR3mg
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