…Can Help.  If you’re thinking, “Cannabis taxes get complicated and add up quickly,” you’re not alone. That’s where we come in.  The CJBS team has deep experience in cannabis tax laws and accounting in the Chicago area and throughout Illinois. Working hand-in-hand with our cannabis clients, we provide a full suite of services—including compliance expertise, tax-saving solutions, and business strategies—to…

…laws, it can be challenging for cannabis companies to stay up-to-date on their tax obligations. To ensure your cannabis company is maximizing their tax benefits while minimizing your liabilities, here is a comprehensive tax planning How Cannabis Businesses Can Navigate Tax Season How Cannabis Businesses Can Navigate Tax Season Navigating tax season in a federally illegal industry can be complicated….

…Tax Planning Checklist As the cannabis industry continues to grow, so does the need for proper tax planning. With constantly changing regulations and laws, it can be challenging for cannabis companies to stay up-to-date on their tax obligations. To ensure your cannabis company is maximizing their tax benefits while minimizing your liabilities, here is a comprehensive tax planning How Cannabis…

…state has issued 207 comprehensive retail licenses, 72 comprehensive infused product manufacturing permits and 56 comprehensive cultivation licenses. Missouri’s first month of recreational sales topped $71M. The state’s medical sales are projected to reach $785M by 2025, according to New Frontier Data.  Applications and Taxes Cultivation, dispensary, laboratory and manufacturing applications are currently closed; however, applications for Seed to Sale Vendors…

…other. Our team has diverse personal backgrounds and specialties, but we share a common culture rooted in these values. Trust Trust is essential to all our work, but the stakes can be especially high for cannabis businesses, which face a higher risk of bankruptcy and IRS audits. Collaboration Close collaboration with our clients, matched with consistent and proactive communication, ensures…

https://www.youtube.com/watch?v=LNtdij7kFJk 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%…

…where we see the IRS pursuing them for failure to file penalties. Completing this form late is far better than not completing it at all—potentially saving them hundreds of thousands of dollars in IRS penalties. What is the process for setting up Internal Controls for my business? Non-Cannabis companies have traditional federal and state tax compliance needs (federal, state, sales,…