Blogs
Did you know that the largest legalized cannabis market in the world is North America? This region accounts for almost all cannabis sold around the world, and the market is still growing. If you’re in the cannabis industry, you know that it can be a tricky business to navigate. With constantly shifting regulations and laws,…
The holiday season is almost here, which means it’s time to decide how to celebrate your workplace. Your employees have worked hard this year, and you want to show your appreciation. While a cash bonus is traditional, it also counts as taxable income according to the Internal Revenue Service (IRS). Your team deserves more than…
Did you know that more than half of America pays taxes and receives an IRS notice about the status of their tax account? Some people receive these letters to let them know they are due a refund, whereas others receive an IRS notice because they owe a debt. Although the IRS does its best not…
Paying bonuses to employees around the winter holidays is a common practice in businesses of all sizes. Many employers use holiday bonuses to boost morale among their team and thank employees for a good year. According to the Internal Revenue Service (IRS), some types of bonuses are taxable. Employers need to understand how to meet…
The winter holidays are fast approaching, and employers across the country are preparing for their yearly office parties. If you’re thinking of celebrating your workplace, you might be eligible for more tax deductions than you realize. Are company holiday parties tax-deductible? The simple answer is yes, as long as they meet a specific set of…
Finding the value of your cannabis company’s inventory can be a long and strenuous process if you don’t know where to start. Thankfully, you can take steps to ensure you calculate your value correctly and can present your findings to future investors or tax regulators. Cannabis company valuation begins with assessing your overall stock and…
Each year, the IRS processes around 261 million tax returns. From individuals, 90% of these are filed electronically. The IRS expects individuals to file an annual tax return each year. Yet, many don’t file yearly or even haven’t filed for several years. In fact, in 2020, the IRS estimates it was owed over $114 billion in back taxes, penalties,…
Financing a medical marijuana dispensary may be more complicated than you anticipate. While many people have acknowledged that cannabis could have many positive medical effects, navigating the various state and federal regulations, tax requirements and financing options is still complex. If you are a new startup looking to find a business loan for a dispensary…
The evolving and growing cannabis industry offers businesses the opportunity for growth. With frequently changing federal and state regulations, you may be concerned about compliance issues and unsure which business expense deductions you can claim for your cannabis company. Fortunately, you don’t have to face the challenges of running a cannabis business alone. Whether you…