In the News
Bookkeepers, Accountants and Tax Preparers — How Your Financial Team Should Work Together
Are you working towards profit? If so, your business should be a well-oiled machine with automated financial workflows. For that to happen, you need an accountant and a tax preparer who can work together in harmony.
What you don’t want is an accountant VS tax preparer situation which could cost you more in the long run.
The Scientific Art of Cannabis Consulting: Cannabusiness Consulting in 2021
So you’ve finally decided to open your cannabusiness — now what?
The chances that you have someone in your network who has the expertise to guide you through best practices, regulations and operations for your cannabis business are practically zero.
While the cannabis industry is growing rapidly, it’s still fairly new.
CPA Practice Advisor Article: Cannabis is Going Mainstream — Is Your Accounting Firm Ready?
CPA Practice Advisor recently featured an article I wrote about Cannabis is Going Mainstream.
After the passing of the Marijuana Opportunity, Reinvestment, and Expungement Act (MORE Act) passed in December 2020. This could lead to massive changes for the cannabis industry in upcoming years.
CPA Practice Advisor Article: 7 Valuable Blog Posts That Break Down The Cannabis Industry
CPA Practice Advisor recently rounded up their top blog posts for managing all things cannabusiness-related. Including areas such as tax codes, accounting, inventory management systems, cash flow management, and more.
Your Guide to Accounting For S-Corps
No more double-taxation for you! You’ve converted your business to an S-Corp and can now enjoy the benefits of being a “pass-through entity.”
The biggest wins for you? No more self employment taxes, your personal assets are protected thanks to limited liability, and you now have an array of accounting options in front of you.
Are You Ready For Your Next Capital Purchase?
When it comes to making spending decisions in your business, you want to be ready. Whether that’s purchasing a new building for your business, business equipment, or even a new vehicle — it can be intimidating.
How do you know that you’re investing wisely?
Your Guide to an Efficient Cannabis Inventory Management System
Inventory management is a vital part of any cannabis business.
Efficient inventory management systems protect your business from becoming non-compliant, avoid significant fines, and keep money flowing in your business.
Cash Flow Forecasting: Why It’s Important and How Your Bookkeeper Can Help
Knowing your business inside and out is essential to continue being successful.
You likely already know what to expect in future profits and losses, as well as the margin you will make on the products and services you provide, but do you know how and when changes to your sales and business costs will affect your cash flow?
What the Pandemic Means for the Future of the Cannabis Industry
Make no bones about it, Covid flipped the world we all knew upside down. Your cannabis business likely saw a huge uptick in demand, which came with a slew of growth-related changes. From new business procedures, protocol, and more, you’re curious what long-lasting repercussions your business will face from the pandemic.
Practice Ignition Top Women in Accounting Awards Nominee
I’m honored to be a Practice Ignition Top Women in Accounting Awards Nominee! Thank you so much to whoever nominated me; it is humbling and thrilling to be among such amazing women.
CPA Trendlines Feature
Recently I had the pleasure of talking with Hitendra R. Patil for CPA Trendlines. It was an honor to be considered for this article, and it was delightful talking with Mr. Patil all about cash-flow and how to increase it in 2021.
Financial Workflows 101: Why You Need To Automate Workflows Today
Your finances are one of the biggest factors that influence the direction of your business. To reduce the risk of human error, save time, costs, and overhead, your financial processes need to be top-notch.
Imagine if there was a way to automate your finance processes, some sort of financial workflow that made things easier…what would that look like for you?
CPA Practice Advisor Article: Why Accounting Firms Should Embrace Cannabis Clients
As an accounting professional, have you ever wondered about serving cannabis clients? I frequently talk with other accountants and bookkeepers about how they can build their business by taking on cannabis industry clients. And the truth is so many are hesitant to embrace this budding industry. (See what I did there?)
5 Business Headaches a Cannabis Accounting Expert Can Help You Cure
As a cannabis business owner, you know firsthand how complicated it can be to run a successful cannabusiness. Your hands are full juggling the many different aspects of your business while trying to remain compliant with laws and regulations. In fact, it can be a real headache! A cannabis accounting expert can help your business succeed by taking some of these stresses off your plate. So if you’ve been wondering why you need a professional accountant for your cannabis business, here are just a few headaches I help cannapreneurs like you solve every day.
When Should You Hire or Outsource a Controller or CFO?
As a business owner wearing many hats, you may have been thinking about growing your financial team. Or maybe you’ve seen rapid growth, and you’re not sure how to strategically manage your finances. There are many reasons to consider bringing on a Controller or CFO to help manage your finances. Even if you do not fully understand the difference between a CFO and a controller, or if you need one, this post will help you figure out how to reach the next stage of your financial management.
The Ultimate Guide to 280E Compliance for Cannabis Business Owners
If you’re a cannabis business owner, chances are the 280E tax code fills you with dread.
A thorn in the side of every cannabusiness, IRS Tax Section 280E is the federal tax code that states that any business engaged in the trafficking of a Schedule I or II controlled substance is barred from taking tax deductions for business expenses that a typical business can.
Accounting Today Feature
Recently I had the pleasure of being interviewed for Accounting Today. We talked about:
How I successfully made the transition to cloud accounting when it wasn’t mainstream.
The pros of using QuickBooks online, why my clients love it, and what I hope to see from them in the future.
The importance of having the right tools and the right professionals in your business from the very start (although it’s never too late).
How Outsourcing Your Bookkeeping Saves You Money
You’re a busy business owner, and you’re doing all the things. To get your business up and running, you’ve had to play many different parts. Unless you’re an accountant like I am, you probably didn’t get into business to do bookkeeping. Bookkeeping can be time-consuming and complicated for those who aren’t familiar with it.
Why You Need a Specialist in Cannabis Accounting Services
If you own a legal cannabis business, you need a bookkeeper specializing in cannabis accounting services to help grow your business and maximize your profits. With many laws and red tape in the cannabis industry, you need a partner that understands the laws, regulations, and tax codes.
It’s no secret that cannabis is a booming and lucrative industry. Medical cannabis is legal in over 30 states, and ⅓ of those states have legalized adult recreational use.
Why Automation Will be Essential for 2021
As a business owner, chances are your business looks a lot different right now than it did at the start of the year. This year’s events drastically changed the way businesses operate, as everyone is rapidly accelerating the use of automated systems across the board in their companies—from touchless transactions to fully integrating automated accounting systems.
If you’re struggling to put systems in place, read on to find out how they can benefit your business and why automated accounting services are a vital business tool in today’s uncertain times.