by Abraham Finberg | Sep 20, 2017 | Cannabis Business, Tax
Tax auditors rely on bank accounts as an independent third party to prove you actually had expenses. They are at a loss when a cannabis company does not have a bank account. As a rule of thumb, when a tax auditor is “at a loss” they deny all expenses and...
by Abraham Finberg | Jul 18, 2017 | 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...
