Category: Financial

Investing in Canada

August 4th, 2017

In more ways than geography, Canada is “higher” than the United States. Since the 2015 election of Prime Minister Justin Trudeau, investors globally have had an eye on Canada. In April, the Liberal government introduced a measure to legalize cannabis; investor confidence is soaring; Canadian cannabis stocks continue to trade…

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Owe taxes you can’t pay? You have options

July 18th, 2017

Do you or your business owe taxes you can’t pay? Have you received a collection notice from the IRS or had your bank accounts garnished? First, file all your tax returns. People often delay filing tax returns if it will result in a tax bill they are unable to pay,…

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Don’t Let Your Green Go Up In Smoke

June 27th, 2017

As new cannabis investors and entrepreneurs hasten to enter the Green Rush, many, if not all, feel overwhelmed. A solid vision, business plan and novel product offerings are no longer enough to break through in this competitive marketplace. Business owners and operators spend countless hours on permits, compliance, financing, taxes,…

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Without bankruptcy option, personal assets are at risk

June 15th, 2017

Starting a cannabis business legally under state law requires owners to consider a wide range of possible challenges. Some of the major considerations include possible federal enforcement issues if the DEA changes its stance regarding the Cole Memo; concerns with banking because many FDIC-insured banks do not want to handle…

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The IRS is Looking

April 10th, 2017

Somewhere along the line, you made the difficult choice to become a part of the cannabis industry, which is fraught with risk of both criminal prosecution and excessive IRS scrutiny (read: disproportionate audit risk and huge tax rates). While we cannot predict what the current administration will do, we have…

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Three ways to reduce taxable income

April 4th, 2017

Taxes are one of many conflicts between state and federal laws pertaining to the cannabis industry. States that have legalized cannabis for medical or recreational use treat all business alike, allowing the same deductions and credits for business expenditures. Under federal tax laws, however, most cannabis-related businesses are prohibited from…

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Succession planning

March 1st, 2017

Most commercial cannabis businesses, whether they are “touching the flower” or providing ancillary services to the industry, are small, family-owned businesses. In this article, I hope to impress on small family business owners the importance of succession planning with four tips entrepreneurs should consider in succession plan development. Succession Planning…

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Weighing investments in an exploding industry

February 23rd, 2017

Early in 2016, industry leaders worried that too many marijuana ballot initiatives could spread resources too thin, leading to losses at the polls. November’s election, though, saw recreational or medicinal measures pass in eight of nine states. With multiple other states authorizing medical marijuana or new regulatory structures earlier in…

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Cannabis Industry Tax Tips

February 21st, 2017

Anybody involved in the cannabis industry has probably heard about Internal Revenue Code Section 280E, which was originally developed in response to a famous U.S. Tax Court case. Craig W. Smalley is the CEO and co-founder of CWSEAPA (www.cwseapa.com) and Tax Crisis Center (www.taxcrisiscenter.com), which both have locations in Florida,…

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Making a budget

January 23rd, 2017

After a bruising election season, most Americans are relieved it’s finally over. And if you listen carefully, you’ll hear the engines of business revving up, especially in the eight new legal cannabis markets. Cannabis growers in these states have been waiting with bated breath for new opportunities to expand their…

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