The Best California Cannabis CPA for your Green Business
Cannabis entrepreneurs face a complex and dynamic industry. As regulations and opportunities are in constant flux, businesses require an accounting firm that remains current on the industry pulse.
It's important that when evaluating whether a California Cannabis CPA is a good fit you should make sure the accountant has a strong grasp of IRC 280E, cannabis accounting, and understands the key tax court case rulings. Only a CPA may audit, review and give an opinion on a business's financial statements.
Accounting and tax services for the growing cannabis industry generates many questions the average accountant may not be able to answer. What types of tax deductions can be claimed for a cannabis business? What are the reporting requirements for cannabis distributors and growers? And many more questions that many accounting firms are struggling to answer.
Working with a California Cannabis CPA firm which offers accounting services exclusively to the cannabis space is a huge advantage. Ultimately, keeping a clean set of books is the key to good tax planning and securing funding.