GreenGrowth CPAs

GreenGrowth CPAs

Latest Episodes

Understanding & Analyzing Vertically Integrated Cannabis Businesses
June 04, 2020

In the cannabis industry, you have the ability to place yourself at all different stages of the supply chain from cultivation to retail. But a business model that doesn’t get analyzed enough is vertical integration,

Cannabis Industry Update for May 2020
May 28, 2020

Yesterday, Derek and Jim went live to discuss what our team is seeing develop over the past 30 days in the cannabis industry and answered many questions from the audience.  A link to each topic/question and answer is below.

Inspector General Report on the IRS and Cannabis Businesses
May 26, 2020

Earlier this year the Treasury Inspector General published their 53-page report on how the IRS handles cash-based businesses and their findings for the cannabis industry. There was some pretty juicy info in there including that nearly 60% of California...

Cannabis Business Tax Filing Help – Working with GreenGrowth CPAs
May 21, 2020

You should work with a cannabis CPA such as GreenGrowth CPAs for your cannabis business tax filing requirements. As accountants specializing in the cannabis industry, we can give you guidance on cannabis CoGS, cannabis tax planning strategies,

New Tax Court Ruling Could Impact All Cannabis Dispensaries
May 15, 2020

On May 4th, the US tax court made a ruling on Richmond Patients Group v. Commissioner which will impact cannabis dispensaries and how they file their taxes. In short, Richmond Patients Group (which is a California dispensary) ended up with $2MM in addi...

Options for Cannabis Businesses with Cannabis Debt
May 07, 2020

In any business endeavor (especially in the cut-throat cannabis industry), it’s quite easy to fall into a tough financial position that puts a deep strain on the business.  It could be as simple as a founder dispute that turns very ugly very quickly,

Break-Even Point Calculations for Dispensaries
May 04, 2020

One key statistic that cannabis dispensary owners need to keep a close eye on is there daily break-even point. This will help them understand if they are making money or losing money with every day they are open and can help drive smarter business deci...

The Collapse & Consolidation of the Cannabis Industry
May 01, 2020

2020 has been a wild ride for everyone, including the cannabis industry, and we are only four months into it! You may be seeing headlines such as “Sales up 300%” or “Booming Business for Cannabis Operators”,

The Role and Power of a Court-Appointed Receiver
April 27, 2020

When a cannabis business gets into large financial issues that require litigation, the court can appoint a receiver to manage the business or wind it down. Receivership is currently the only option available for cannabis businesses that are struggling ...

Accounting for 280E on Cannabis Business Tax Returns
April 23, 2020

As a cannabis business operator, you’re well aware of 280E and the restrictions it puts on cannabis businesses when filing their cannabis business taxes. But, how does 280E actually show up on a tax return,