Abraham Finberg

About Abraham Finberg

Posts by Abraham Finberg:

December 1, 2022

Transfer Pricing Is an Often-Overlooked Necessity in Cannabis

Abraham Finberg Cannabis Business, Featured Article 420cpa services, bloomberg, cannabis business, cannabis farming, transfer pricing

We were published in Bloomberg: https://news.bloombergtax.com/tax-insights-and-commentary/transfer-pricing-is-an-often-overlooked-necessity-in-cannabis Reprinted with permission by Bloomberg Tax Cannabis industry participants face a tough battle under a litany of regulations that may not change much in the near future. Transfer pricing rules must be considered and acted on properly to avoid even more tax problems for these businesses, […]

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December 1, 2022

9 Things to Do Before Year-End to Reduce Your Tax Bill

Abraham Finberg Tax Tips reduce tax bill, tax, tax bill, taxes, year-end taxes

Who doesn’t want to pay fewer taxes? The key to minimizing your tax bill is to plan ahead and select the strategies that work for your situation. When April 15, 2023 rolls around, it’s simply too late for tax planning, so now is the time to be proactive and save on your 2022 taxes. Here […]

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November 30, 2022

Thought Leadership Event – Opportunities & Challenges in the Tri-State Cannabis Markets

Abraham Finberg Cannabis Business 420cpa, cannabis, thought leadership, tri-state cannabis markets

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November 18, 2022

Excise Tax Shifts to Retailers in California January 1, 2023

Abraham Finberg Tax 2023 taxes, 420cpa services, california tax, excise tax, tax shifts

Changes are coming with regards to the collection and payment of cannabis excise taxes is coming to the State of California. Starting January 1, 2023, cannabis retailers will be responsible for collecting excise tax directly from their customers, replacing distributors who’ve handled this task since 2018. The taxes will be calculated on the actual retail […]

businessman working with calculator for financial document in of

November 17, 2022

SECURE Act and Required Minimum Distributions Proposed IRS Regulations

Abraham Finberg Tax Tips IRS regulations, Minimum distributions, New york tax, SECURE Act

When the SECURE Act went into effect on January 1, 2020, there were many open questions from tax professionals and taxpayers about Required Minimum Distributions (RMDs) and how certain provisions of the new legislation should be treated. Some of the language in a number of the provisions was not defined well or was left open […]

November 7, 2022

Cannabis Tax Collection and Remittance Responsibilities for Distributors Ending

Abraham Finberg Tax 420cpa services, cannabis business, cannabis tax

Redistributed from the California Tax and Fee Administration – Cannabis Special Notice——————————————————————————- On and after January 1, 2023, distributors, including microbusinesses that distribute cannabis, will no longer be responsible for collecting and paying the cannabis excise tax to the California Department of Tax and Fee Administration (CDTFA) for cannabis or cannabis products sold or transferred to cannabis retailers. Cannabis […]

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November 3, 2022

Filing a Final Return for a Deceased Taxpayer

Abraham Finberg Tax Tips deceased taxpayer, filing tax return, New york tax, taxes

Dealing with the passing of a loved one in your family can be overwhelming. Unfortunately, tax requirements are one of the many items you’ll need to address, but we can help you through the process. Here is a little more about what’s required. A final tax return in the year the loved one passes away […]

October 20, 2022

Checklist for Clean Books

Abraham Finberg Tax Tips accounting records, clean books, New york tax, taxes

Keeping your business’s books clean all year long can help to provide more accurate financial statements and reports as well as an easier tax time. Here is a checklist of activities to perform periodically to keep your books clean. Make sure all bank accounts are reconciled. Make sure all credit card accounts are reconciled. Update […]

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October 7, 2022

Financial Statements

Abraham Finberg Accounting 420cpa services, accounting services, advisory services, financial statements

We offer two levels of financial statements — the Preparation and the Compilation — and we can arrange for a Review or an Audit if needed with an external firm. With each set of statements, we also offer Advisory Services, providing a financial and performance analysis of your business, strategic planning and budgeting, and other related services to “fine tune” and enhance your company’s […]

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October 6, 2022

The “Dirty Dozen” IRS Tax Scams for 2022

Abraham Finberg Tax Tips IRS, tax, tax scams

Each year, the IRS unveils its list of scams that target unsuspecting taxpayers. Below are five of the most common tax scams impacting taxpayers today, as well as tips to not become a victim: Pandemic-related scams. Criminals still use the COVID-19 pandemic to steal people’s money and identity with phishing emails, social media posts, phone […]