How Cannabis Businesses Can Navigate Tax Season
February 27, 2023
1 MIN READ
Navigating tax season in a federally illegal industry can be complicated. The CJBS Cannabis Practice Team is here to help. In this 20-minute webinar recorded in February 2023, CJBS Senior Partner Matt Bergman, CPA and LKP Impact Consulting Principal Laurie Parfitt discuss what cannabis businesses need to know as they structure their business and prepare for tax season. During the webinar, Matt and Laurie share insights about:
- Selecting and setting up accounting systems and software;
- The importance of entity formation;
- The nuances of IRS Tax Code Section 280E;
- The differences in cost of goods sold (COGS) deductions for cultivators and dispensaries; and
- Properly documenting financial activities.
To learn more about how CJBS can help your cannabis business with innovative tax and financial solutions, click here to contact Matt.
Watch the Webinar below:
More News & Insights
Dear Clients & Friends, Thank you to everyone who promptly submitted their information for the March 17th corporate tax deadline—we appreciate your help in getting all S-Corporation and Partnership returns either filed or extended on time. With that milestone behind us, our focus now turns to the Individual Tax Deadline on April 15th. Please remember: […]
In 2024, CJBS acquired the tax and accounting firm Northshore Professional Group (NSPG)–and is pleased to announce that three of the firm’s members have recently joined the CJBS team to provide support to our valued clients and partners. Here, we’ll introduce you to Stephanie Vadasz, who now serves as a manager at CJBS. In this […]
In 2024, CJBS acquired the tax and accounting firm Northshore Professional Group (NSPG)–and is pleased to announce that three of the firm’s members have recently joined the CJBS team to provide support to our valued clients and partners. Here, we’ll introduce you to NSPG’s founding member Howard Goberstein, who shares his background, how the world […]
Dear Clients and Friends, Tax season is here, and the CJBS team is fully geared up to prepare your 2024 tax returns. We’re committed to supporting you through this busy period and aim to make your experience as efficient and seamless as possible. Here’s how you can help us help you: Submission Options: You can […]
Purchasing a distressed senior living facility can be an exciting opportunity to revitalize an underperforming property. But, like any big investment, it comes with its share of risks. So how can you determine if it’s the right move? In the following checklist, our CJBS Senior Living M&A experts will break down the critical questions you […]
In 2025, attending cannabis industry events is one of the most effective ways to advance your business. In many industries, digital networking and webinars might do the trick, but in the cannabis world, there’s something special about in-person events. With constantly changing regulations, localized markets, and the need to build strong, trusting relationships, nothing beats […]