Get Practical Tips for Resolving Current Marijuana Accounting and Taxation Issues
Taxation and accounting of recreational marijuana is full of unique issues and conundrums that many business owners are failing to adhere to. In this focused legal marijuana taxation and accounting program, experienced faculty who advise marijuana businesses will teach you how to tackle tough sales, excise and other complex taxation obstacles. Ensure you have an in-depth understanding of accounting for a cash based business, IRS Section 280E and internal controls. Register today!
- Review current federal positions on marijuana laws.
- Examine accounting for a cash based business and other banking issues.
- Identify Section 280E issues and how non deductibility of retail expenses affects return on investment.
- Advise your business clients on sales and excise tax issues.
11:00 am to 2:15 pm
Presenters: J. Daniel Bariault and Dionne Kellier
Marijuana Business Taxation
11:00 - 12:30, Dionne Kellier
- How the New Tax Bill Affects Marijuana Businesses
- Current Federal Positions on Marijuana Laws
- Tax Return Preparation
- IRS Section 280E and How Non-Deductibility of Retail Expenses Affects Return on Investment
- Corporate Structures to Minimize 280E
- Tax Ramifications/Implications of Running a Marijuana Business
- The Future of Marijuana Business Taxation
Marijuana Business Accounting
12:45 - 2:15, J. Daniel Bariault
- Accounting for Medical vs. Recreational
- Marijuana Business Accounting and Bookkeeping Best Practices
- Accounting for a Cash Based Business and Other Banking Issues
- Merchant Processing and Payroll
- Accounting Issues Unique to the Marijuana Industry
- Internal Controls over Cash and Inventory
- Sales Tax and Excise Tax Issues
This program is designed for attorneys. Accountants, enrolled agents, banking professionals and paralegals may also benefit.