In the News
Firm of the Future Article: Leverage the power of the QuickBooks Online Project Center
When I was selected to present on QuickBooks Online’s Project Center at Intuit Connect, I said, “Sign me up!” I really enjoy the opportunity to help other accountants unlock new ways to show up for their clients.
As a quick overview: The QuickBooks Online Project Center revolutionizes project costing and profitability tracking. Leveraging a centralized platform equips you with essential tools to monitor profitability, manage expenses, and identify the key factors driving your project's success.
The Questions Most Cannabis Businesses Don’t Think to Ask During the Licensing Process
Many business owners know me for my work with companies offering professional services. I’m also a cannabis accounting pro and have devoted the last several years to becoming an expert so I can support cannapreneurs as they grow their business.
Because cannabis is still a Schedule I substance, cannabis businesses must operate under strict regulatory oversight and there are unique nuances to operations and accounting. In my work with cannabis businesses around the country (especially in the Northeast), I get lots of great questions that I frequently answer with content.
Entity Tax Reporting —what is the best business model for you?
You’re probably here because tons of people are talking about S-Corps and why it’s a good idea for business owners to move to that tax structure. In truth, they’ve gained traction following the pandemic, especially when everyone was after the PPP loans. However, before you go full-steam ahead on switching to a S-Corp entity, it’s important to understand the implications for your business.
QB Power Hour: Niche Nuances - Cannabis and CBD Industry
Recently Michelle Long, CPA, MBA and Daniel DeLong at QB Power Hour invited me for a guest appearance on their live show!
We covered niche nuances with a specific focus on the cannabis and CBD industry.
CPAPA Article: Cash Recycler Machines Help Reduce Theft and Undercounting for Retailers
CPA Practice Advisor recently featured an article I wrote about cash recycling machines.
Originally developed for banks, cash recyclers simplify cash handling and improve security, making them an excellent choice for various retail businesses.
The learning curve of passion-fueled businesses
People who start a business out of passion are often missing key information about running the business, as is the case with a huge number of cannapreneurs. As the number of states legalizing cannabis increases, so does the number of eager business owners who have a big learning curve when it comes to actually running their business.
What is Cash Recycling and Why Do Cannabis Businesses Need It?
Cash recycling is a modern approach to cash management that streamlines the cash handling process. Cash recycling machines not only make cash handling processes much more efficient, but they also add an extra layer of security. Cash recyclers increase security by reducing the amount of superfluous cash on site.
Important Takeaways from 4/20 for Cannabis Businesses
4/20 is, arguably, the biggest holiday in cannabis culture, drawing out everyone from daily smokers and tokers to the most casual of cannabis users.
As a cannabis business owner, you know that it’s not all fun and games, and that it takes work to plan for an event this big. Now that it’s in the rearview mirror, here are some lessons for improving future 4/20 events
CPAPA Article: Help Cannabis Clients Plan for the Next 4/20 and Earn More Revenue
CPA Practice Advisor recently featured an article I wrote about what accountants to help clients earn more for the next 4/20
As an accounting professional, if you’ve served agriculture, research labs, or retail operations, you already know 4/20 is more than just a day in April to cannabis users…it’s a holiday nearly as big as Black Friday to traditional retailers.
CPAPA Article: If Your State is Legalizing Marijuana, Here's What Accountants Need to Know
CPA Practice Advisor recently featured an article I wrote about what accountants need to know now that more and more states are legalizing Marijuana.
As an accounting professional, if you’ve served agriculture, research labs, or retail operations, you already know the basics of serving a cannabis company. The biggest difference lies in the stringent reporting requirements and understanding cannabis taxation.
Firm of the Future Article: Cleanups are big money, but are they worth taking?
While cleanups are a necessary part of any great financial plan, they can also become heavily involved.
That’s why I wrote Cleanups are big money, but are they worth taking?. I am honored to be featured with Firm of the Future.
So your state is legalizing marijuana...how can you prepare?
HOORAY, your state just announced it’s ready to take the leap and join the growing list of states who have legalized cannabis! Now is the perfect opportunity for someone like yourself, who has toyed with the idea of opening a dispensary, starting a grow operation, or creating cannabis-based products, to make their dream a reality.
Touchless Automation: How Cannabis Operations Are Joining The Latest Tech Wave
Is the cannabis industry growing as fast as technology is advancing? In today’s world, that’s hard to say — but this much is clear — cannabis and tech are joining forces like never before.
FYLE Article: Scaling your team: How hiring outside Bookkeeping Services builds profit
Fyle featured an article I wrote about outsourcing your bookkeeping services and how it can build profit in your business.
CPA Practice Advisor Article: The Main Difference Between Cannabis Clients And Regular Businesses
CPA Practice Advisor recently featured an article I wrote about the differences between cannabis clients and regular businesses.
Your cannabis clients are on a unique path. Since marijuana has been largely illegal in recent history, there’s no tried-and-true business blueprint cannapreneurs can follow when it comes to growing and selling marijuana.
How Investing In A Cannabis POS And Inventory Management System Protects Your Business
Have you invested in a cannabis point-of-sale (POS) system yet?
When it comes to security for your cannabis business, it’s not just about protecting your physical product from outsiders. You also need to stop yourself from inadvertently breaking state and federal rules.
Before the cannabis industry started taking off, compliance and quality issues were virtually non-existent. Lab testing wasn’t even required!
Firm of the Future Article: How QuickBooks Time can help you increase billable time by 11% (or more!)
I talk with other accountants and business owners about the best ways to track employees’ time. These can be huge concerns for my clients and it’s why I use QuickBooks® Time, as well as always recommend the app to clients who need timekeeping support.
Accounting Services You Need As A Cannabis Business Owner
Are you a cannabis business owner who still has a lot of questions, especially pertaining to finances and running your business? Don’t worry — you’re not alone. The cannabis industry is still budding, and you are, too.
Whether you’re already in the game or just starting out, questions are normal and even expected with ongoing changes in the law and a widening societal acceptance of cannabis.
CPA Practice Advisor Article: Cannabis Accounting: What Your Clients Need to Know
CPA Practice Advisor recently featured an article I wrote about Cannabis Accounting and What your clients need to know.
How do you navigate accounting questions from cannabis business owners? There’s no blueprint… or is there?
5 Fatal Mistakes You Might Be Making As A Cannabis Business Owner
Is your cannabis business moving towards growth or total failure?
Growth or failure in your new cannabusiness all depends on how you start it, run it, and the attitude with which you do both.
Have you laid the proper groundwork to acquire and keep a license? Do you check the latest cannabis-related news at least monthly, if not weekly?