Introduction The cannabis sector in the USA has actually experienced rapid development, with sales reaching $25 billion in 2021 and predicted to continue rising. In Florida, the legalization of medical cannabis has actually produced a…
Cannabis Financial Modeling & Projections with Rescheduling Considerations
 As the green rush continues, a sobering reality is setting in: for every Cannabis company that blooms, another wilts. The problem? Despite the industry's explosive growth, many businesses are operating on shaky financial ground.…
Cannabis Firm Ascend Terminates CFO, CEO Amid Refinancing…
Introduction Ascend Wellness Holdings, a leading cannabis company, is a major player in the rapidly growing cannabis industry. With operations in multiple states, Ascend is at the forefront of the market, especially in Illinois where the…
How Will Cannabis’ Rescheduling Impact Taxes for Plant-Touching…
Introduction Cannabis rescheduling refers to the process of changing the classification of cannabis under the Controlled Substances Act (CSA). Currently, cannabis is classified as a Schedule I substance, indicating it has a high potential for abuse and no…
NY Cannabis Excise Tax Good for Many, But…
Introduction The NY Cannabis Excise Tax has introduced a new dynamic in the state's growing cannabis industry. This tax, intended to generate significant revenue, is particularly important for small firms operating within the market. While designed to…
Maximizing Profits for Cannabis Dispensaries
As a CPA who's been knee-deep in Cannabis accounting for years, I've had a front-row seat to the industry's explosive growth. It's been a wild ride, watching this sector bloom into a multi-billion dollar market.…
Cannabis Reclassification Would Trim Tax Burden, But Not…
Understanding the Implications of Cannabis Reclassification The U.S. Drug Enforcement Agency (DEA) has recently recommended shifting cannabis from a Schedule I to a Schedule III substance under the Controlled Substances Act. This significant move has…
CFOs Navigate the Weeds of Cannabis Accounting to…
Introduction Cannabis accounting presents unique challenges that are not commonly encountered in other industries. The intricacies of tracking and managing financial records within the cannabis sector come from strict regulatory requirements, banking restrictions, and the…
How Tax and Accounting Firms Can Best Serve…
Introduction The world of cannabis accounting has its own set of difficulties that require specialized attention. Cannabis businesses operate in a complex regulatory environment, with strict compliance requirements and specific financial considerations. These complexities highlight the need…
Rescheduling Cannabis: How It Will Shake Up Accounting…
The Cannabis industry is on the cusp of a monumental shift that's about to rock the accounting and tax world. As a CPA with nearly a decade of experience in this niche, I've watched this…