cannabis

monique swansen: align firm values with services | the disruptors

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do the work that fulfills you.

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the disruptors
with liz farr

cannabis accounting is not for the faint of heart, says monique swansen, owner of accounting for green, which provides accounting services to cannabis businesses. first, there’s a big inventory component, so “if you’re an accounting professional that does not want to deal in inventory, cannabis is not your space,” swansen says. cannabis inventory is further complicated by federal law, which disallows tax deductions for anything but the cost of goods sold. this means meticulous tracking of all direct costs to get the maximum possible tax deduction. compliance with state laws also requires “documentation for every single movement of inventory or money,” says swansen. banking is also challenging because “no federal banks will bank cannabis.”  

more podcasts and videos: tina mcgill: how to create lasting client impact | stefan van duyvendijk: develop operational mindset | steve evans: why traditional hiring methods fail | roger knecht: can you be an accountrepreneur? | beth whitworth: focus on outcomes not hours | mike sylvester: learn to say no | salim omar: identify your client’s $100,000 problem | jackie meyer: earn more with fewer clients | jack fleherty: don’t be a ‘yes’ person | greg adams: from finance to storytelling | the disruptors | jody padar: make radical changes now if you want to be relevant in 2030 | rebecca driscoll: amplify reach by helping other firm owners | rory henry: create the return on relationships | mike maksymiw: be the leader you wish you had | terrell turner: build a solid business showing up as yourself | kelly mann: be the bull in the china shop | alicia katz pollock: create a human-centric business |  nancy mcclelland: be the one your clients ask first |alan whitman: stop accepting the status quo | sean duncan: discover your own genius | ingrid edstrom: true wealth is not financial |

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cannabis business owners tend to know less about running a business than many other types of businesses. “so you really have to start that relationship early and really try to talk with those people and understand those people where they’re at so that you can really help them,” swansen recommends. her personal sweet spot is starting to work with cannabis businesses three to six months before they become operational. read more →

pricing your cannabis services

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whether you work with cannabis or cbd/hemp businesses, these 6 steps will guide you.

by andrew hunzicker

properly quoting accounting fees is complicated in any industry, but establishing a pricing policy for the wily cannabis and hemp/cbd niches can be especially challenging and overwhelming.

if you find it hard, or even scary, to price your cannabis and hemp/cbd accounting services without undercutting your value, you are not alone.

more: why are ceos so confused? | everything you wanted to know about dispensary accounting but were afraid to ask | 5 do’s and don’ts for cannabis cpa marketing | cannabis: thc vs. cbd critical differences | 4 best things about being a ‘dope’ accountant | 5 biggest mistakes cannabis ceos make | five secrets to launching your own cannabis accounting firm | five reasons accountants should serve cannabis clients
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

many accountants struggle with raising their fees beyond low hourly rates. learning how to

  • package your services,
  • create clear offers to reflect your value, and
  • develop a system for charging appropriately for cleanup, onboarding and ongoing work

will enable you to confidently set your price and find clients who will happily pay it.
read more →

what cannabis clients should look for in an accountant

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portrait of harry shurek
harry shure, ea

beware of pricing by phone.

by 卡塔尔世界杯常规比赛时间 research
cannabizcpa.pro

the production and distribution of cannabis is the newest and most variegated industry in america. some would even say it’s one of the toughest industries in america in which to do business.

more on cannabiz: suchoff takes cannabis accounting passion national | why are ceos so confused? | kareyna miller mines michigan cannabis niche | cannabis: thc vs. cbd critical differences | new to cannabis? maybe a joint venture is the answer | cannabiz meets intellectual property protection | green bits: helping cannabis retailers stay compliant | silver leaf cbc: an erp platform for cannabis companies | cohnreznick goes national on cannabis
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it’s illegal everywhere yet legal in some places, but not legal the same way in all places. the federal government considers it a schedule 1 narcotic right up there with heroin and lsd, yet the internal revenue service is perfectly willing to collect taxes on companies that handle the product.
read more →

suchoff takes cannabis accounting passion national

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portrait of sandy suchoff
suchoff

she cites the usual complicators: 280e, the dearth of banking services.

by 卡塔尔世界杯常规比赛时间 research
cannabizcpa.pro

sandy suchoff’s initial interest in cannabis came when a family member had an immune deficiency condition. the treatments seemed almost as hazardous as the disease itself.

more on cannabiz: why are ceos so confused? | everything you wanted to know about dispensary accounting but were afraid to ask | ‘high times’ at aicpa | cpa cathro goes 90% cannabiz in the bay state | why jax wheatley shifted from lbgtq to cannabis clients
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medications came with lists of serious side effects and often conflicted with each other. but from what suchoff read – and she read a lot – cannabis could do a world of good without threatening harm.
read more →

why are ceo clients so confused?

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business hand holding hot chart in crystal ballyou just need to be a little bit of a mind reader.

by andrew hunzicker
cannabizcpa.pro

why are ceos so confused about what they want from their bookkeeper, accountant, tax cpa or cfo?

more: everything you wanted to know about dispensary accounting but were afraid to ask | 5 do’s and don’ts for cannabis cpa marketing | cannabis: thc vs. cbd critical differences | 4 best things about being a ‘dope’ accountant | 5 biggest mistakes cannabis ceos make | five secrets to launching your own cannabis accounting firm | five reasons accountants should serve cannabis clients | cpa andrew hunzicker creates course in cannabis accounting
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here’s what they tell me they want:

read more →

everything you wanted to know about dispensary accounting but were afraid to ask

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plus why trying to beat 280e isn’t worth it.

by andrew hunzicker

accounting for a dispensary turns out to be quite a challenge for the cannabis accountant.

more: 5 do’s and don’ts for cannabis cpa marketing | cannabis: thc vs. cbd critical differences | 4 best things about being a ‘dope’ accountant | 5 biggest mistakes cannabis ceos make | five secrets to launching your own cannabis accounting firm | five reasons accountants should serve cannabis clients | cpa andrew hunzicker creates course in cannabis accounting
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there are many issues, both gaap and tax, as well as state-level compliance issues that must be understood as well.

read more →

do’s and don’ts for cannabis cpas

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portrait of kevin michaelan
michaelan

q&a with kevin michaelan: “the complexity and risks cannot be understated.”

by 卡塔尔世界杯常规比赛时间 research
cannabizcpa.pro

kevin michaelan, cpa, mst, is the director of cannabis practice at aafcpa, a leading cpa and consulting firm based in boston with national & global reach. massachusetts recently authorized sales of cannabis for recreational use, and the first retail stores opened last year.

more at cannabizcpa.pro: kareyna miller mines michigan cannabis niche  | high times at aicpa | 5 do’s and don’ts for cannabis cpa marketing | cannabis cpa readies for when maine ‘goes recreational’ | integrity wins in cannabis accounting  |  more at cannabizcpa.pro
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here michaelan offers 卡塔尔世界杯常规比赛时间 insights into some of the technicalities of accounting for cannabis businesses.

q: how is your firm involved in the cannabis industry?

read more →

kareyna miller mines michigan cannabis niche

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portrait of kareyna miller
miller

teach your clients standard procedures.

by 卡塔尔世界杯常规比赛时间 research

even before they were allowed to open their doors, over 2,000 new businesses in michigan were applying for a license to sell marijuana under the state’s new recreational cannabis law effective dec. 1.

more on cannabiz: ‘high times’ at aicpa | 5 do’s and don’ts for cannabis cpa marketing | cannabis cpa readies for when maine ‘goes recreational’ | integrity wins in cannabis accounting
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kareyna l. miller, cpa, is a big believer in the medical benefits of cannabis. as michigan went forward with commercial business laws, she started looking into the industry from an accounting perspective. what she saw was burgeoning upstarts working in an environment of financial and legal confusion.
read more →

‘high times’ at aicpa

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click here for the full report (pdf)

aicpa embraces opportunities and warns of risks.

by 卡塔尔世界杯常规比赛时间
the cannabis cpa

not long ago, the last thing you’d expect to see on the cover of an aicpa report would be images of marijuana leaves and cash, along with a rather edgy headline: “marijuana and forensic accounting—high time for cpas?”

more on cannabis: 5 do’s and don’ts of marketing yourself as a cannabis accountant  |  cannabis: thc vs. cbd critical differences  |  cpa cathro goes 90% cannabiz in the bay state  |  cannabis cpa readies for when maine ‘goes recreational’  |  new to cannabis? maybe a joint venture is an answer  |  formulating new guidance for cannabis clients  |  integrity wins in cannabis accounting  |  cannabiz meets intellectual property protection |  more > > >

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the quarterly “aicpa forensic and valuation services” report is dedicated exclusively to the provision of services to businesses committing a federal felony, though at the state level, it’s not a crime…it’s an opportunity.

read more →

5 do’s and don’ts for cannabis cpa marketing

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save the brand building until you have a few clients.

by andrew hunzicker
cannabizcpa.pro

so you’ve decided that you want to take the plunge and dive into cannabis accounting. great!

more: cannabis: thc vs. cbd critical differences | 4 best things about being a ‘dope’ accountant | 5 biggest mistakes cannabis ceos make | five secrets to launching your own cannabis accounting firm | five reasons accountants should serve cannabis clients | cpa andrew hunzicker creates course in cannabis accounting
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while these are new and exciting times, it is completely understandable if you have concerns about promoting your business within your personal and professional networks.
read more →

cannabis: thc vs. cbd critical differences

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how they are different and what accountants need to know.

by andrew hunzicker
卡塔尔世界杯常规比赛时间 cannabis

when you look at a cannabis plant and a hemp plant side by side, the plants themselves look identical to an untrained eye, making it a bit challenging to identify, as the real difference lies in the chemistry of the plants.

but to the accountant, the differences a critical.

see more from 卡塔尔世界杯常规比赛时间 cannabizcpa.pro here

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get hunzicker’s free download: “how to find and connect with cannabis ceos in 5 steps“

issues include clients in many verticals – cultivation, chemical manufacture, product manufacturing, labs, and retail – cost accounting, consolidations, and multi-entity issues, banking, software, and cash management, to name just a few.

and the tax and compliance issues are actually more complex for hemp/cbd products than for cannabis products.

read more →

cpa cathro goes 90% cannabiz in the bay state

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portrait of charlotte cathro
cathro

“i am making the industry better at following the rules.”

by 卡塔尔世界杯常规比赛时间 research
cannabizcpa.pro

massachusetts has always been at the forefront of social and legal progress. it’s where the pilgrims signed their compact. it’s where the first shots of the american revolution were fired. in 1911, it became the first state to outlaw possession of “indian hemp.”

more cannabizcpa.pro: cannabis cpa readies for when maine ‘goes recreational’ | new to cannabis? maybe a joint venture is the answer | cannabiz meets intellectual property protection | green bits: helping cannabis retailers stay compliant | silver leaf cbc: an erp platform for cannabis companies | cohnreznick goes national on cannabis | minorities, women & cannabis
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and 101 years later, it became one of the first to allow sales of cannabis for medical purposes.

in that auspicious year of 2012, charlotte cathro was a cpa with a regional firm in holyoke, an hour and a half west of boston. the firm started getting inquiries and referrals from attorneys. they had clients applying to open dispensaries of medicinal weed, but they weren’t quite sure how the tax, finance and business entity rules were going to work.

and no wonder. it was complicated – a new frontier in accountancy.

read more →

cannabis cpa readies for when maine ‘goes recreational’

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portrait of karla brannen
brannen

karla brannen spends a lot of time explaining §280e to cannabis clients.

by 卡塔尔世界杯常规比赛时间 research
cannabizcpa.pro

maine, a.k.a. vacationland, is gearing up to “go recreational,” and cpa karla j. brannen, senior tax manager at albin, randall & bennet cpas, is on the crest of the cannabis wave.

more at cannabizcpa.pro: new to cannabis? maybe a joint venture is the answer | zach gordon cpa: “the level of guidance out there is just nonexistent.” | why jax wheatley shifted from lbgtq to cannabis clients | ron seigneur blazes new trails in cannabis |  more
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nobody knows quite yet when the pine tree state will allow the sale of recreational marijuana. in 2016, the people of maine approved a referendum to legalize the sale of recreational marijuana. the governor signed the recreational marijuana rules on june 20, 2019. on september 19, 2019, ld719, an act to amend the adult use marijuana law, went into effect. final adoption of these rules will happen within the next 60 days.

cannabis products have been legal in maine for medicinal purposes for years. licensed medical cardholders are allowed to purchase cannabis through a registered dispensary or through certified caregivers. almost four years ago – even before the referendum – brannen predicted a need for better accountancy in an industry that comes with its own set of complications. read more →