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Congratulations to state‑licensed medical cannabis operators on the Schedule III rescheduling!

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  • IRS Section 280E Tax Code: Cannabis Business Strategy

    A frustrating financial challenge is IRS Tax Code 280E, which states that “no deduction or credit shall be allowed in running a business that consists of trafficking a controlled substance.” This archaic code impacts cannabis businesses across the nation, causing unnecessary fiscal and operational stress. By understanding the history of the code, and best practices related to tax management and cannabis accounting, you can avoid 280E pitfalls and approach it with confidence.

  • A Guide to Workforce Analytics and How to Use the Data

    Data may be a simple, four-letter word tossed around in casual conversation, but it is the key to building a sustainable, efficient business destined for success. Data and the analytical solutions used to examine it provide insight into performance, operational expenses, market trends, and much more. Without quality data and tools to study it, IBM reports that 88% of American companies experience a direct impact on their bottom line. In an age of historic technological advancement, companies don’t have to encounter those challenges.

  • Payroll Audit Checklist: Internal Controls, Tax Compliance, Templates

    A single payroll mistake can cost a business far more than the error itself. From back taxes, penalties, and employee trust, the downstream effects of unchecked payroll information can compound fast. A payroll audit is how you get ahead of it. Done right and done regularly, a payroll audit gives you a clear picture of whether your payroll process is accurate, your people are classified correctly, your taxes are filed accurately and on time, and your records will hold up to outside review.