Cannabis Tax Strategies

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 at profit margins. There are legal ways to properly minimize tax liabilities for cannabis companies, but most unspecialized or untrained accounting professionals aren’t aware of them and can potentially get their clients into tax trouble. Every entity is different and must apply the rules in different ways, using different strategies. Here are a few strategies that we use to support our clients and share with our community of cannabis accounting professionals.
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Disclaimer:
This video is for edutainment purposes only. The thoughts and opinions expressed in this video were based on the facts, circumstances, and interpretations of Dope CFO at the time of this recording. Dope CFO reserves the right to update their opinions on certain issues and topics as new information becomes available. We charge the viewer with exercising their own professional skepticism and judgment and to perform proper research before implementing any of the information presented in any materials provided by Dope CFO.

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