California Accounting Tax Institute – Cannabis

California Accounting Tax Institute – Cannabis

California Accounting Tax Institute - Cannabis
California Accounting Tax Institute

California Accounting Tax Institute – Cannabis – I have a topic that has been chewing on me for a couple of weeks, and I think it is time to bring it to the surface. I view being a certified public accountant as being part of a profession. My experience has been that there are a large number of EA’s with education and experience that are every bit the equal of certified public accountants [“CPA’s”] in tax and accounting competence. However, the approach that their national organization – NAEA has taken which touts EA’s as “America’s Tax Experts” that grates on me. So I am sharing the article to provide insight into what I refer to when I refer to as a profession…and am going to embrace the common competencies that high-quality CPA’s, EA’s and tax attorneys share. You can read the article here.

Throughout the thirty-seven years, I have been in professional practice, I have written articles, prepared talk and presentations to share with “the profession. The forums that I have participated in include NYU Institute on Federal TaxationNYU Schack Institute of Real Estate, USC Gould School of Law Tax Institute,  AICPA National Tax Conference, and the excellent programs produced by Practicing Law Institute. I would certainly be remiss if I didn’t mention the many excellent programs by State Bar Associations and State CPA societies across the country.

The critical factor in the success of these programs has always been the Institutes being the perfect setting to meet practitioners from around the country experts in their fields that offer to contribute their time, knowledge and expertise to advance the collective knowledge of the professions, without charge for their time, possibly travel expense reimbursement.  It’s an opportunity for everyone to share ideas, exchange views, learn what others are doing, and obtain credit for continuing education.

The Institutes and conferences provide a comprehensive overview and up-to-date coverage of the new and proposed changes, latest rulings and regulations, and hot new trends affecting all areas of taxation, accountancy, and legal practice Nationally recognized experts guide attendees through in-depth general sessions and panel discussions that cover the most advanced tax issues.

California Accounting Tax Institute – Cannabis

However, I have had several experiences in recent weeks that have been very much like a kick in the groin from the conference sponsors and blogs run  by for-profit operators. Specifically, I was:

  • Informed that despite have written and submitted a 7,500-word presentation the required over fifty hours or my time  as being an excellent “state of the art” piece, that presentations are limited to “members” which required a $5,000 fee.
  • Told by the manager of a major cannabis industry blog that while their written policy was to encourage a lively exchange of ideas that they never posted comments to “keep the focus on the experts employed by their firms.

The success of the commercial cannabis industry in California and in fact, the entire country depends on the development of

  • Competent professionals and professional resources to provide advice and guidance to the myriad of businesses in the cannabis industry.
  • Mentoring and development of a generation of practice leaders [senior managers and new partners]  to develop and replicate these skills in firms of all sizes over a wide geographic distribution. 
  • Involvement of first tier universities and law schools to add courses in cannabis industry accounting, taxation, regulatory compliance and law to their programs. 

If you are an experienced practitioner or university level academic that shares these concerns, please fill out the contact form below and join the Facebook Group we have set up to begin discussion of the issues.

California Accounting Tax Institute – Development

Regulation of Tax Pros




Author: abizcannabis

Managing Director & CEO of integrated transactional financial advisory, tax, and technology consulting firm - aBIZinaBOX Inc New York, Chicago, and OaklandCPA.CITP.CISM.CGEIT.CGMAExpertise with: Alt. Investments/Private Equity, Real Estate, Professional Services, CA Cannabis, Tech Start-Ups and Distressed Assets/DebtTechnology Certifications including:Advanced & High Complexity Cloud Integrator AICPA PCPS, CAQ,, IMTA, CITP ISACA CGEIT, CISMState CPA Societies in California, Florida, Illinois, New York and TexasExpertise with Regulatory Compliance - US - HIPAA, FINRA, SEC Rule 17(a)(3)/(4), eDiscovery, FINCEN - EU- EBA, ESMA, EIOPA UK - BoE, PRA, FCA