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Avoid Cannabis Tax Mistakes that Can Destroy Your Company
Accounting | Cannabis

Avoid Cannabis Tax Mistakes that Can Destroy Your Company

October 6, 2022October 12, 2022

Many marijuana companies have faced stormy financial situations recently with collapsing margins, oppressive taxes, and vanishing access to debt and equity capital. Despite financial woes…

Read More Avoid Cannabis Tax Mistakes that Can Destroy Your CompanyContinue

Tax Challenges Facing Marijuana Related Businesses (MRBs)
Accounting | Cannabis | Tax

Tax Challenges Facing Marijuana Related Businesses (MRBs)

August 17, 2022August 18, 2022

Key Accounting and 280E Implications for Medical Marijuana Businesses This is a summary of key areas to evaluate for marijuana related businesses and their finance…

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Things to Know About Tax Audits—Including Cautions for Cannabis Businesses
Accounting | Cannabis | Tax

Things to Know About Tax Audits—Including Cautions for Cannabis Businesses

May 4, 2022May 4, 2022

This year, the IRS will audit hundreds of thousands of tax returns. One in 100 businesses will be audited. The easiest way to survive a…

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IRS increases marijuana business audits after COVID-19 lull
Cannabis | Tax

IRS increases marijuana business audits after COVID-19 lull

April 13, 2022April 14, 2022

According to MJBizDaily.com, the IRS put much of its routine work on the back burner, including audits, enforcement and collections during the coronavirus pandemic. However,…

Read More IRS increases marijuana business audits after COVID-19 lullContinue

Smith Patrick Voted 2022 Best Accounting Service by Readers of Greenway Magazine
Accounting | Cannabis

Smith Patrick Voted 2022 Best Accounting Service by Readers of Greenway Magazine

March 9, 2022March 30, 2022

Smith Patrick CPAs has been voted “Best Accounting Firm in Missouri” by Greenway Magazine in its Reader’s Choice Best of the Industry Awards. Smith Patrick…

Read More Smith Patrick Voted 2022 Best Accounting Service by Readers of Greenway MagazineContinue

For Legalized Marijuana, Banking Woes Persist: Smith Weighs in on St. Louis Public Radio
Accounting | Cannabis | News | Tax

For Legalized Marijuana, Banking Woes Persist: Smith Weighs in on St. Louis Public Radio

November 3, 2021March 30, 2022

If you’re doing business with a medical marijuana company, your bank may charge you high fees or refuse to do business. David Smith, owner and…

Read More For Legalized Marijuana, Banking Woes Persist: Smith Weighs in on St. Louis Public RadioContinue

Are You Struggling to Handle an All-Cash Cannabis Business? Then Read This.
Cannabis | Consulting

Are You Struggling to Handle an All-Cash Cannabis Business? Then Read This.

October 28, 2021March 30, 2022

Easy to Implement Tips to Set Up a Cashless ATM for Your Cannabis Business In the growing cannabis market, cash is key. Like it or…

Read More Are You Struggling to Handle an All-Cash Cannabis Business? Then Read This.Continue

Cannabis Audit Procedures Revealed in Confidential IRS Document
Cannabis | Consulting | Tax

Cannabis Audit Procedures Revealed in Confidential IRS Document

April 15, 2021March 30, 2022

New Information on What to Expect During Cannabis Audits The marijuana industry recently gained access to new intel on what to expect during IRS cannabis…

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Missouri Medical Marijuana Tax Update
Accounting | Cannabis | Consulting | Tax

Missouri Medical Marijuana Tax Update

February 4, 2021March 30, 2022

280E Update: Pursuing normal business deductions for Missouri medical marijuana licensees Cannabis businesses, also known as marijuana related businesses (MRBs), face significant tax challenges. Though cannabis…

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Tax Update: Medical Marijuana Facilities Qualify for Manufacturer’s Sales and Use Tax Exemption in Missouri
Cannabis | Consulting | Tax

Tax Update: Medical Marijuana Facilities Qualify for Manufacturer’s Sales and Use Tax Exemption in Missouri

September 24, 2020March 30, 2022

Tax Benefit Question: Do medical marijuana facilities qualify for the manufacturer’s sales and use tax exemptions? This important tax benefit can realize a one-time or…

Read More Tax Update: Medical Marijuana Facilities Qualify for Manufacturer’s Sales and Use Tax Exemption in MissouriContinue

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