It’s a great time to get into the cannabis market. The industry is expected to see more than 18% overall growth in the next seven years and North America holds the biggest market share at 88%. In the US alone, more and more states are making recreational cannabis use legal, and that means more business opportunities than ever.

In the aftermath of the COVID-19 pandemic, more businesses than usual are expected to file for bankruptcy. Unfortunately for those in the cannabis industry, filing bankruptcy isn’t a possibility. Even so, this doesn’t mean you’re out of luck.

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...