Read the latest industry news and tips from our accounting experts.
April 6, 2017

While everyone in the cannabis business is focused on Internal Revenue Service enforcement of IRS Code 280e, the Internal Revenue Service has found another weapon in their battle to squeeze as much money as possible out of businesses that operate in the cannabis space, IRS Form 8300. These IRS Form 8300 audits have until now been primarily focused on businesses operating in the Denver area, but as they gain success in assessing penalties and fines against cannabis and marijuana related businesses, they will undoubtedly start auditing cannabis and marijuana...

March 6, 2017

Self-employed business owners already have one of the biggest targets on their backs from the IRS. Constantly being scrutinized It is for this reason that it pays to take a few extra steps to minimize your chances of getting bitten if your return is selected for audit. The main goal here is to keep adequate documentation so you can maximize...