by Abraham Finberg | Feb 12, 2021 | Cannabis Business, Tax
Innocent until proven guilty… NOT. When it comes to paying taxes, auditors have an advantage: you have to prove you filed your taxes correctly; once you do, it’s their job to show your proof is wrong. You gave them your point of sale records, bank statements (if...
by Abraham Finberg | Feb 5, 2021 | Tax
An earlier version of this blog had the wrong date for FBAR. It should be April 15, 2021. Please accept our apologies for the inconvenience. The IRS will begin accepting and processing 2020 tax year returns on Friday, February 12, 2021. Please note FEDERAL INCOME TAX...
by Abraham Finberg | Feb 1, 2021 | Cannabis Business, Tax
Federal Tax Procedure- Audit, Dispute, Resolution“Preparation time is never wasted time.” Anonymous _______________________________________________________________________________________________________________________Part I – “The IRS Audit Process” is the first of...
by Abraham Finberg | Jan 26, 2021 | Cannabis Business, Tax
Federal Tax Procedure- Audit, Dispute, Resolution“Preparation time is never wasted time.” Anonymous _______________________________________________________________________________________________________________________This Introduction precedes a 3-Part Series on...
by Abraham Finberg | Nov 10, 2020 | Cannabis Business, News, Tax
Source: CA Department of Tax and Fee Administration Due to new legislation, Assembly Bill 1872 (Stats. 2020, ch. 93), the cannabis excise tax mark-up rate and the cultivation tax rates will not change on January 1, 2021. Cannabis Excise Tax Mark-up Rate The cannabis...
