If you’re looking to stay ahead in the fast-growing cannabis industry, these must-attend events in 2024 offer invaluable opportunities to network with industry leaders, gain insights, and keep up with the latest trends shaping the market. In this new, complex, rapidly growing, and still federally illegal industry–in-person connections with industry peers are essential for plant-touching […]
Cannabis
Data security is important from the very beginnings of your cannabis business. That’s because: – Cyberattacks are rampant in the industry – Operators must stack multiple third-party integrations, making them vulnerable – They have to be compliant with regulations to protect customer information (such as HIPAA) and – Cannabis businesses are criticized more often for […]
In the early days of Illinois medical cannabis legalization, licensed cannabis retailer Windy City Cannabis needed assistance in setting up their business for success during the growth of the medical market, and eventually, the launch of the state’s adult-use market. Windy City’s former parent company–while growing rapidly–didn’t have a dedicated in-house finance department, so they […]
Taking credits can raise flags with the IRS–and audits can be time-consuming and costly. Here’s what to consider before opting to save a little extra at tax time. Should you take a tax credit if it means your cannabis business will have a greater chance of being audited? “It depends,” says CJBS Partner Ryan Guedel, […]
A comprehensive round-up of tax pointers for plant-touching businesses in the cannabis industry from CJBS Senior Partner Matt Bergman, CPA. Cannabis’s federal illegality and stringent regulations for state-legal businesses make taxation in the cannabis industry difficult to navigate–and that’s an understatement. CJBS Senior Partner Matt Bergman, CPA, knows these complexities well, having operated in the […]
Internal controls are procedural safeguards put in place to protect access to financial information and transactions. Setting up internal controls is critical for any business to prevent fraud, but it is even more important for cannabis operators–as the industry is especially susceptible to fraud. We discuss internal controls in detail in this webinar with Partner […]