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Tax Reporting and Operations of a Cannabis Business Webinar

Summary

Cannabis is a fast-growing industry, with many states now legalizing either medical or recreational use, or both. If you have clients now or in the future who are involved in cannabis, this course will give insight and direction into the taxation of retail, medical and illegal cannabis. In this session, we will look at business vs. hobby, income, cost of goods sold and business expenses under IRS Code Section §280E. We will also look at federal and state filing requirements.

Objectives

Upon completion of this course, you will be able to:

  • Prepare the appropriate tax schedules when cannabis is illegal at the federal level, but legal in many states
  • Summarize unique accounting and tax reporting methods for the industry
  • Calculate cost of goods sold
  • Prepare Schedule C for a cannabis business

Course Details

Subject matter experts will answer your questions during the presentation. We make every effort to answer as many questions as possible during the webinar but we may not be able to directly address every question.

This webinar includes the presentation slides, attendee top questions and access to the webinar recording.






   

Presented by: Larry Gray, CPA, CGMA

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