If you’ve paid attention to what’s going on in the cannabis industry, you’ll have noticed a number of decisions that have been handed down from the US Tax Court regarding how cannabis companies are improperly managing their tax strategies. Due to 280E, cannabis companies are extremely limited in terms of what they can deduct from their taxes. Because of these limitations, taxes are a much heavier burden on cannabis companies than most typical businesses and start to eat away...

The idea of value can be a tricky and very misunderstood topic for accounting professionals and CEOs alike. Determining the services that you want to offer and what to charge for those services is the key to building a successful, competitive practice that will create the most ideal scenario for accounting professionals: to work remotely and under less stress, command higher fees, and have more freedom to work as you see fit. The key to understanding your value is to first understand the...

Have you seen the news lately? Cannabis CEO’s are getting in big, BIG trouble, and it’s only going to get worse. The cards are stacked against cannabis businesses in this current political climate. Even with that being the case, some businesses are able to figure out how to not only be profitable, but to do so without getting into hot water with the feds or local authorities.  

Others are cutting corners, cheating the system, or simply not following the rules. While they...

The IRS just handed down yet another decision that further cements their position on the cannabis industry and how these businesses must deal with 280e and the other tax laws that restrict them from the same benefits that most other businesses use to save money. Here’s what happened.

Harborside Health Center, owned by Patients Mutual Assistance Collective Corporation, was one of the largest dispensaries in California. This action followed an unsuccessful civil forfeiture case where the...

What does a pound of weed cost to grow?  What are the production factors involved, and how does that affect recordkeeping procedures for growers and their accounting professionals?

In order for cannabis growers to take advantage of maximum allowable deductions under 280E, accounting professionals must understand how to properly determine the true cost of growing/producing their client’s product. The actual operations of a grower is important for accounting professionals looking to...

Whether you have cannabis accounting clients or are looking to specialize and service this industry, you’re going to need a special set of tools and processes. If you haven’t had a chance to check it out, we’ve created an infographic that sort of outlines all of the tools that we use to provide services to our clients. You can check out our cannabis accounting tools here.

In terms of running a thriving cannabis accounting practice, there are a number of challenges that...

When Dope CFO first started it was to service actual cannabis clients such as dispensaries, grows, and edible makers, who were trying to understand and navigate the complex financials of the business. Here's our founders advice to those thinking about breaking into the often lucrative profession of cannabis accounting.

Read More HERE.

Marijuana is legal in several U.S. states, however, it’s still not legal federally. This case causes obstacles for many banks and marijuana-related businesses (MRBs).

 President Obama’s administration allowed banks and legally established MRBs to do business, as long as banks complied with the extensive guidelines, which monitored the MRBs’ commercial activities and filed quarterly any suspicious activity reports. But on Jan. 4 Attorney General Jeff Sessions rescind...

Dope CFO Andrew Hunzicker and Naomi Granger have been featured in TD Ameritrade's Market Watch, 'Pot Stocks, ETFs, Top News And Data From The Cannabis Industry This Week'. Check out how we are educating business and equipping them with qualified CPA's to better serve their marijuana business.

Read more HERE.

Dope CFO Andrew Hunzicker and Naomi Granger have been featured in TD Ameritrade's Market Watch, 'Pot Stocks, ETFs, Top News And Data From The Cannabis Industry This Week'. Check out how we are educating business and equipping them with qualified CPA's to better serve their marijuana business.

Read more HERE.