Our services

Most businesses are able to take deductions for expenses such as payroll, office expenses, advertising, interest expense, depreciation, research and development, and legal fees, but cannabis businesses are unable to do so due to legal restrictions.

However, by understanding 471 and having the expertise in GAAP full absorption cost accounting, we can assist cannabis businesses in legally reducing their tax liabilities through proper allocation of expenses to inventory and COGS, rather than attempting to circumvent the 280E tax law.

Cannabis / CBD / Hemp Accounting

• Specialized accounting and bookkeeping

• Assistance forming a legal business structure

• Tax compliance and planning

• CFO services

• Audit services

• Inventory management solutions

• Supply chain management

• Monthly reconciliations of POS data

• Reconciliations of seed-to-sale tracking systems

• Bank reconciliations

• Record monthly transactions

• Review general ledger and reconcile balance sheet accounts

• Evaluate and refine internal controls

• GAAP cost accounting

• Prepare and file sales tax return

• QuickBooks support

• Payroll services