by Abraham Finberg | Aug 14, 2019 | Cannabis Business, Tax
Written by Abraham Finberg CPA and Simon Menkes CPA As most people in the industry already know, due to Internal Revenue Code (IRC) 280E, cannabis businesses may only reduce their income with cost of goods sold (the cost of the product) to lower gross profit and save... by Abraham Finberg | Jun 17, 2019 | Cannabis Business, Tax
Written By Simon Menkes CPA and Abraham Finberg CPA When we meet non-cannabis people at Hollywood parties and they find out the industry we serve, their reactions are pretty typical: “Do you get free weed?” and “Can you explain that 280E law? It’s so confusing!”... by Abraham Finberg | May 14, 2019 | Cannabis Business, Tax
Written by Abraham Finberg CPA and Simon Menkes CPA “A long time ago, in a galaxy far, far away …” It is a time of civil war, and the REBEL CANNABIS BUSINESS OWNERS are fighting battles on all fronts with the STORMTROOPERS from the federal, state, and local TAX... by Abraham Finberg | Apr 15, 2019 | Cannabis Business, Tax
How to navigate reporting and paying taxes on cash income without being able to get a business bank account? Does the IRS care whether the income reported is cash from growing Cannabis? Find out in this panel discussion with Simon Menkes, CPA. by Abraham Finberg | Jan 30, 2019 | Cannabis Business, Tax
Written by Abraham Finberg, CPA and Simon Menkes, CPA In December of 2018, the Grinch visited more than just a few unlucky homes in America. He also appeared in the guise of a couple of judges who ruled on the Harborside and Alternative/Wellness (Donald Duncan)... by Abraham Finberg | Nov 21, 2017 | Cannabis Business, Tax
On January 01, 2018, when California cannabis cultivators harvest products enter the commercial market, they will need to pay their distributor $9.25 per dry-weight ounce of cannabis flowers, and $2.75 per dry-weight ounce of cannabis leaves. That sentence is quite...