Financial Strategy

There’s a lot of material out there exploring why nine out of ten business and startups fail , and plenty case studies done on the businesses that made it. One theory is that entrepreneurs of successful businesses “failed …

Wondering how to avoid 280E ? You’ve come to the right place! The cannabis industry is a rapidly growing market. We have helped many cannabis businesses reach financial success and grow exponentially. …

Opening any business has many steps and procedures to ensure that your business is legal and in good standing. Becoming a California cannabis retailer is no different in that regard, …

There’s no denying that the cannabis industry can be a lucrative career choice. Do you want to open a dispensary, grow hemp, or deliver it? Maybe you want to do …

All cannabis businesses that operate in the state of California which have employees, including everything from cultivation to dispensaries,  must withhold, report, and pay payroll taxes to the Employment Development …

Congratulations — you’re a new cannabis business owner! You’re excited because you secured financing, welcomed your first customers, hired an excellent team, and sales are starting to roll in. You’re …

It’s common among the cannabis industry to hear stories of business owners getting hit with a crushing tax bill or an IRS audit. The industry has expanded quickly with legalization in individual …

Ultimately, what saved Harborside from receiving a harsher ruling, was the fact that Harborside maintained impeccable accounting records and filed their tax returns timely.

In effect, the memo protected legal cannabis states from the federal cannabis ban. This is one reason certain banks won’t touch cannabis money – because cannabis is still illegal at the federal level.

Since the accounting, tax, and regulatory requirements can be challenging to stay on top of, the need to hire a CFO is actually required much sooner for a cannabis business.