Our commitment to the commercial business in California has caused us to create an industry-centric practice group. The group has professionals in Evanston, IL HQ
and Oakland, California. We have devoted several years of study to the application of our regulatory compliance, tax, tech, reporting, and accounting experience and services to the unique requirements of the industry.
The practice is focused on California businesses, and recently Oregon, Washington, and inbound international investment, particularly mezzinine positions. The complexity of the issues facing commercial businesses, we have concentrated on being CPA’s so we do one thing well rather accept mediocrity in several. We have added a new summary page on Paying Taxes With Cash.
BCC, CDFA and CDPH released revised regulations on Oct. 19, 2018 we will be reviewing our FAQs and making changes as quickly as we can.
Our CPA Cannabis Experience
We have substantial experience and expertise in the industry :
- The unique financial record-keeping needs of cultivators, retailers, extractors, processors, and distributors.
- Experience with the selection of optimal operating structures for each participant in the industry.
- Experience in adjusting structures and modifying financial record-keeping to comply with a rapidly evolving regulated California market.
- An understanding of the challenges presented by a long history in the industry of “doing business in cash” and the associated problems.
- A practical understanding of the banking, card processing, and anti-money laundering issues applicable to this industry.
- Substantial hands-on experience with the relevant Regulators.
- Both of our Managing Directors have over thirty-five years of professional practice experience.
Focused Expertise relating to California Commercial Cannabis CPA Practice
- Media Room on ePRNews – is exactly what it sounds like. – The Newsroom of aBIZinaBOX Cannabis Practice Group
- Our reel which contains some samples of our work. aBIZinaBOX Cannabis Group – Reel
- The story about how we, managing our own SEO internally and brought a domain that was new in December 2017 with a DA of 0 to a DA of 20 in eight months which gives us search and market parity with BridgeWestCPAs and Henry Levy Group. – aBIZinaBOX Cannabis – Moz DA – 20
- I write a weekly column for CannabisLaw.report which has > 80K weekly followers called “According to Zoot”, and our profile appears on the site at aBIZinaBOX Cannabis. The publisher, Sean Hocking is a wonderful reference for us.
- We have a podcast series start on NPR sometime in the 4th Quarter
- We published a series of technical white papers that address accounting, tax and regulatory compliance for new California cannabis businesses called Cannabis Business Start-Up Series.
- We produced a comprehensive set of due diligence tools for private equity investors to use themselves or retain us to do called Due Diligence Suite
- We developed a series of commercial business documents including manifests, purchase orders, etc that are fully compliant with the IRS, FTB, CDTFA and the California cannabis regulatory agencies which we call California Commercial Document Suite [“CCDS”].
Our experience includes issues relating to permitting, licensing as well as reporting and paying marijuana excise tax and gross receipts tax at the municipal and county level.
We have developed effective strategies for addressing the onerous impact of the limitation on the deduction of ordinary and necessary business expenses imposed by Internal Revenue Code § 280E on businesses engaged in “trafficking” in a controlled substance. Our IRC Sec. 280E Repository contains a number of articles both our own original analysis and cutting-edge thought from other sources. Check it out. it is NOT the “same old bullshit that everyone else posts and claims IRC Sec. 280E expertise.
A Leader in California Commercial Cannabis Industry CPA Practice
aBIZinaBOX’s – Cannabis will continue to monitor on a daily basis the evolution of the regulation of California’s cannabis industry to retain our position as a leading cannabis CPA firm with practical expertise. We will maintain our position as a leader in financial record-keeping and report for California cannabis by continually adjusting to the demands of this evolving industry.
Fudd – Dope CPA
We upgraded the search function on our website. The site now uses Google Custom Search to search this site, our parent site, the cannabis regulators in California – BCC, CDPH, CDFA, CDTFA, FTB and the IRS.