Cannabis Tax & Accounting

Whether you’re struggling with unstable regulations and confusing tax compliance issues or you are looking for the right advisor to successfully grow your cannabusiness, the CJBS team is here to help.

There’s no denying the cannabis industry is booming. In fact, U.S. sales of legal cannabis hit a record high of $17.5 billion in 2020 alone, a whopping 46% increase over 2019. But while marijuana has gone mainstream, it’s still not legal on a federal level. And cannabis is largely a cash business. That adds up to a tricky legal and financial landscape — not to mention the high risk of IRS audits for cannabusinesses.

Cannabis Video
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The CJBS cannabis team understands the uncertainty and potential headaches businesses in this fast-paced and constantly evolving industry face. As experts in this space, we assist our clients with everything from big-picture business strategies to operational efficiencies to highly technical tax codes. Working directly with national cannabis cultivators, processors, and dispensaries, we help navigate the ins and outs of this uncharted industry, so that you can focus on what you do best: running your business.


Our specialty services include:

TAX

  • IRS Tax Form 8300 – Compliance and Filing
  • Tax Filings
  • Understanding IRS Tax Code 280E

AUDITING

ACCOUNTING SERVICES

  • Bookkeeping
  • Multistate Sales Tax Filings

IMPLEMENTING AND TESTING INTERNAL CONTROLS

  • Operational Efficiencies

FINANCIAL & CONSULTING SERVICES

  • Independent Sounding Board
  • Financial Consulting

News & Updates

Stay current on the latest Cannabis industry developments and find out what it means for you and your business.

Growing Your Cannabusiness: Boosting Operational Efficiency — and Your Bottom Line
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Growing Your Cannabusiness: Boosting Operational Efficiency — and Your Bottom Line
If you work in the cannabis business, you already know how fast-paced and complicated the industry is. Contending with tricky tax law and a high risk of IRS audits, along with limited banking options, are some of the constant challenges.  One challenge you might not be aware of is just how fast your cannabusiness is
How CJBS Helps Your Cannabusiness Manage Your Challenges
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How CJBS Helps Your Cannabusiness Manage Your Challenges
Dear Clients & Friends,  There’s no doubt that cannabis is a big business, and the industry continues to grow by leaps and bounds. A recent study forecasts that legal cannabis sales in the U.S. will reach $43 billion by 2025. Also by 2025, 42% of the total annual U.S. demand is projected to be met
Navigating Cannabis Tax Law: Minimizing Risk & Maximizing Deductions
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Navigating Cannabis Tax Law: Minimizing Risk & Maximizing Deductions
Legal marijuana has gone mainstream, and the cannabis industry is experiencing a boom that shows no signs of slowing down anytime soon. In 2020, global cannabis sales reached $19.7 billion. In the U.S. alone, sales hit a record $17.5 billion last year, according to cannabis market research leader BDSA.   Despite those huge numbers — and the

If you’d like more information about any of these services or have other questions about your cannabis business, please contact Senior Partner Matthew Bergman, CPA. We’d love to hear from you!