Articles
Cali Vibes 2024
ATTENDING: Cal Vibes Website February 16–18, 2024 Marina Green Park, Long Beach, California Presented by Goldenvoice. Special Saturday Night Performance [...]
Corporate Transparency Act – New law effective January 1, 2024
This law is titled the Corporate Transparency Act (“CTA”) and affects all companies doing business in the United States. It [...]
Business Income Tax Year End Tax Letter – 2023
The following are some strategies we should consider for reducing your business's taxes for 2023. The key changes in the [...]
Individual Income Tax Year End Tax Letter – 2023
The following are some of the tax breaks from which you may benefit, as well as the strategies we can [...]
A new IRS directive… To ERC or Not to ERC, that is the question.
Posted 10/26/23 As with other government programs during the pandemic, the IRS Employee Retention Credit (ERC) program put needed money [...]
280E – The current Achilles’ heel of the cannabis business
Code Section 280E of the Internal Revenue Code is titled “Expenditures in connection with the illegal sale of drugs.” It [...]
Support NACAT – Vote Now!
Bruce Andersen CPA, a founding member of the National Association of Cannabis Accounting and Tax Professionals (“NACAT Pros”), is very [...]
Business Income Taxes for 2023: Cannabis-specific
The 2022 year has been a very big year for changes in the taxation of cannabis in California that will [...]
Business Income Taxes for 2023: General
Here are a wide variety of general tax matters, from property taxes to income taxes, as they will play out [...]
Individual Income Tax Year End Tax Letter – 2022
Here are some year-end tax strategies to help minimize taxable income on your Individual return for 2022. Filing Status Your [...]
Staying above the water line at MJBizCon 2022
I continue to grow the breadth and depth of my knowledge in the Cannabis space, all the while meeting new [...]
CDTFA California State Changes to Processing Cannabis Excise and Sales Taxes
Posted November 13, 2022 This has been a very big year for changes in the Cannabis industry regarding excise and [...]
CalCPA Cannabis Business Virtual Symposium – Speaking Engagement
November 9 from 3:15–4:05 PM (PDT) Compliance and Enforcement Management from a Practitioner’s Perspective Topics to be covered by Bruce [...]
DOPE CFO on Social Equity Cannabis License – Speaking Engagement
5 Crucial Tips for Social Equity Cannabis License Applicants Oct 19, 2022 02:00 PM PDT DOPE CFO gathered experts including [...]
Montecito Mudslides
Five years to the day in Montecito Wow, Mother Nature is not happy. Five years to the day, Montecito has [...]
Greenspoon Marder’s Cannabis Quick Hits: Accounting in the Cannabis Space – Speaking Engagement
August 8, 2022 Bruce T. Andersen was invited by Nick Richards, Partner and Co-Chair of Greenspoon Marder's Cannabis Law Group, [...]
CDTFA Cannabis Special Notice – California Cultivation Tax Ends on July 1, 2022
What wonderful news! There is no cultivation tax effective July 1, 2022. This is all with the stroke of a [...]
Retail shops will pay less for excise tax effective July 1, 2022
CORRECTION posted July 5, 2022 Effective July 1, 2022, the CDTFA is making a change to the cannabis excise tax. [...]
Why is QuickBooks the Leading Cannabis Accounting Software?
In the cannabis industry, QuickBooks is the leading accounting software used by both accounting professionals as well as cannabis companies. [...]
California Cannabis Tax Rates Changed January 1, 2022
What happened to the reporting form? Effective January 1, 2022, the tax rates on cultivation cannabis excise tax increased about [...]
Hey, please cut the IRS some slack…
…they are doing the best they can… REALLY? Wow, how time flies. We are already at the end of February. [...]
2022 Tax-Related Dates – Income Tax Due Dates
I wanted to provide some key dates for the income tax season. S-Corporations, LLCs taxed as Partnerships, or Partnerships All [...]
Some good and some bad news from the CDTFA for 2022
Bad news first. Cultivation tax is being raised again effective 1/1/2022. It is increasing about 4.5% year over year. Very [...]
A Gift from the IRS to the Cannabis Industry
The IRS is now recognizing that the cannabis industry exists and should provide some guidance to the taxpayers. Their ‘gift’ [...]
Cannabis CPA: AUDIT
In the Cannabis Industry, it is not a question of IF a company will be audited but WHEN. Due to the high revenue [...]
Happy Anniversary 4/20/21!
This is a special year for cannabis taxation like no other. In the area of federal taxation, I cannot imagine [...]
Weeding the News: March 26, 2021
#1 – IRS Change in Filing Date is for Individual Taxes 2020 Tax Year Only Tax filing dates for [...]
Weeding the News: March 1, 2021
#1 National Business Institute (NBI) Andersen presented for the National Business Institute (NBI) on Wednesday, February 24, 2021 during [...]
Cash Flow to Pay State Cannabis Taxes
Bruce Andersen was a panelist on the State and Local Tax Panel at CalCPA Cannabis Symposium in August 2019. This [...]
Cannabis and QuickBooks – an Interesting Market
We have been a part of almost every program that QuickBooks (QB) has offered for over twenty years. The keys [...]
COVID-19 Tax-Relevant Information
The coronavirus is impacting the deadlines for income tax filings in 2020. How the federal and state governments have made [...]
The Insanity of Cannabis Accounting & Tax: Accounting & Finance Show LA 2019
David Leary and Blake Oliver, CPA, co-founders of the Cloud Accounting Podcast, met with cannabis accounting experts, Bruce and [...]
The Impact of 280E on Your Accounting World
Let’s remember why the issue of special tax reporting even is an issue for the legal Cannabis industry. As long [...]
Cannabis CPA: TAX
In the Cannabis industry taxes are very important at local, state, and federal levels. Currently, all references to local and [...]
Cannabis CPA: ACCOUNTING
All businesses need a solid accounting system. Cannabis companies need it even more in an area of regulation that seems [...]
Cannabis CPA: SYSTEMS
The cannabis industry is highly regulated and highly automated. It is important to match the size of the business to [...]