What is a good profit margin for a dispensary?
Accounting and bookkeeping are critical components of any high risk business, including the cannabis industry. With the unique regulatory environment of the cannabis industry, it is important for cannabis business owners to understand their financial obligations and stay up to date with the latest regulations. In this blog post, we will cover various accounting and […]
What To Look For In A Cannabis Accounting Firm
The cannabis industry is big business – by 2026, cannabis is on track to become a $52.6 billion dollar industry. That’s a lot of cash to manage, and one of the biggest challenges in cannabis right now is a lack of access to traditional banking and financial services. That can make it tough to choose an accountant that fits […]
Cannabis & Taxes: What’s Deductible?
As of 2022, cannabis use (medical and/or recreational) has been legalized or decriminalized in 39 US states and the District of Columbia. But cannabis is still illegal at the federal level, all cannabis-related businesses (CRBs) are in violation of federal law, even when they are legally operating under the rules and regulations of their state. Because the […]
Cannabis Businesses Can Qualify for the Employee Retention Credit – Here’s How
Who’s thinking about COVID-19 relief funds in 2023? If you own a cannabis-related business (CRB) like a dispensary, grow-op, or manufacture cannabis products, you should be. Why? Because many CRBs may be eligible for a very lucrative tax credit that’s worth up to $26,000 per employee – the Employee Retention Credit (ERC.) Cannabis companies were […]
Why Does Having A Cannabis Accountant Matter?
Ask any cannabis entrepreneur what their biggest pain point is – would it surprise you that for most of the canna-biz, the answer is money management? The cannabis industry is at a critical juncture now that the industry is entering the mainstream of the US economy. The industry is moving fast, and many finance professionals […]
What To Do When Your Canna-Biz Gets Audited
Like many other federal agencies, the IRS put much of its routine work on the back burner and demonstrated more leniency during the COVID-19 pandemic. Experts are saying that this means for this year’s tax season, cannabis-related business (CRB) owners should brace up for a new wave of IRS audits, which had been tabled at the height of […]
Choosing the Perfect Bookkeeping Service for Your Cannabis Business
without lifting a finger.GET STARTED DigitalPaybotic April 11, 2023 In this guide, discover key factors to consider when selecting a bookkeeping service for your cannabis business, ensuring compliance, efficiency, and growth. The cannabis industry is rapidly expanding, and businesses across various sectors like retail dispensaries, delivery services, cultivators, product manufacturers, and more must prioritize accurate and […]
Why Bookkeeping Matters: A Short Guide for Cannabis Businesses
Discover how your business can stay organized and make tax season a breeze Are you ready to take on the ever-changing world of the cannabis business? You’ll need to arm yourself with the essential tool for success: impeccable bookkeeping skills. From small cannabis startups to large corporations, accurate financial records are vital for running a […]
Choosing the Perfect Bookkeeping Service for Your Cannabis Business
In this guide, discover key factors to consider when selecting a bookkeeping service for your cannabis business, ensuring compliance, efficiency, and growth. The cannabis industry is rapidly expanding, and businesses across various sectors like retail dispensaries, delivery services, cultivators, product manufacturers, and more must prioritize accurate and efficient bookkeeping. Choosing the right bookkeeping service for […]
What is a good profit margin for a dispensary?
Accounting and bookkeeping are critical components of any high-risk business, including the cannabis industry. With the unique regulatory environment of the cannabis industry, it is important for cannabis business owners to understand their financial obligations and stay up to date with the latest regulations. In this blog post, we will cover various accounting and financial […]