Protective Claims: Preserving Your Ability to Deduct Prior Year 280E Expenses
For cannabis businesses grappling with the heavy tax burden of Section 280E, the IRS recently made its position crystal clear: don’t try to sidestep it…
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Why a Fractional CFO May Be the Right Fit for Cannabis Businesses
Let’s be real: running a cannabis business is no easy feat. Between evolving regulations, complex taxes, and managing cash flow in a largely cash-heavy industry,…
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Sarah Bantz Voted Best Cannabis Accountant Missouri in the Greenway Best of the Industry Awards
We’re thrilled to share that Sarah Bantz, CPA, leader of our Cannabis Accounting team, has been named Best Accountant in the 2025 Greenway Best of…
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The DEA Agrees to Reclassify Marijuana: What It Means and What Comes Next
Historic Shift in Federal Policy After over fifty years of federal prohibition, the Drug Enforcement Administration’s (DEA) proposal to reclassify marijuana from Schedule I to…
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Unlocking Financial Success in the Cannabis Industry: Join Us at the Missouri Cannabis Summit
Are you navigating the complexities of the cannabis industry, striving to make your mark while managing the intricate financial challenges that come with it? If…
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The Financial Foundations of a Thriving Cannabis Business
Navigating the ever-expanding cannabis industry can be as exhilarating as it is challenging. Whether you’re just stepping into this world as a new licensee or…
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Accounting | Cannabis | Consulting | Tax
Missouri Marijuana 2023 Tax Update: Rays of Hope
In a significant development for the cannabis industry, licensed marijuana businesses in Missouri are now permitted to bypass 280E for state tax filings. This new…
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How Smith Patrick CPAs Is Guiding Missouri’s Cannabis Entrepreneurs through the Tax Maze
The Missouri cannabis industry is growing, and Amendment 3 has brought new tax deductions for marijuana businesses. Smith Patrick CPAs, a cannabis-focused CPA firm, is…
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Cannabis | Consulting | Tax
What to Expect During IRS Cannabis Audits
Cannabis Audit Procedures Revealed in Confidential IRS Document It’s been documented that the IRS looks closely at cannabis businesses. We’ll take a look at the…
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Accounting | Cannabis | Tax
Attention Marijuana Operators: Learn the Tax Implications of Missouri Amendment 3
Tax law is changing for Missouri cannabis businesses. On November 8, 2022, Missouri Amendment 3, the Marijuana Legalization Initiative, was approved by voters, extending marijuana…
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Avoid Cannabis Tax Mistakes that Can Destroy Your Company
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…
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Accounting | Cannabis | Tax
Tax Challenges Facing Marijuana Related Businesses (MRBs)
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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IRS increases marijuana business audits after COVID-19 lull
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,…
