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business articles

May 1, 2017 Business Roundup

YASSSS, California The California cannabis community was ecstatic last Friday, when the Bureau of Medical Cannabis dropped the proposed rules for medical cannabis. “The proposed licensing regulations for medical cannabis are the result of countless hours of research,...

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April 21, 2017 Business Roundup

Oh, California Refresher: California legalized adult use last November and passed a bill to regulate medical cannabis in 2015. California has a dual licensing program under the medical bill that requires local licensing prior to obtaining a state license (state...

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Legalization Articles

Accounting Articles

IRC 280E Resources and Information

There are two important court cases that anyone in cannabis needs to be aware of - these are CHAMP and OLIVE. They've set precedent on how the IRS views 280E. Here's a summary of the two:  CHAMP Case The Tax Court has tried a few cases involving taxpayers that sell...

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Setting up your Chart of Accounts

One of the first steps of getting your accounting system set up, is getting a solid chart of accounts for your business. Depending on what sector you fall in - your chart of accounts will be different. A business needs and should want to know where funds come and go....

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What is 280E and what do you need to know?

What is 280E I've written a book about 280E and given hundreds of consults on 280E and its affect on cannabis business; however, I'm shocked about how many people in this business or getting into this industry still aren't aware of the impacts of 280E. Here's a quick...

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