When running your cannabis business, you may have plenty of occasions when cash flows through your hands. Petty expenses like pizza for the crew or quick payments for small sales can add up faster than you think — and you must account for it all.

While any business has the possibility of either wild success or complete failure, those in the cannabis industry have likely seen both extremes. That's because this relatively new industry is overseen with contradictory regulations, evolving attitudes, and localized political will.  Imagine if small franchise restaurants or pharmacies had to worry about changing tax deductions and regulations that may negatively impact their business like the cannabis industry.

MONTHLY ACCOUNTING & TAX ADVICE FEATURED IN THE HAPPY MUNKEY NEWSLETTER #8 One of the most important financial decisions you can make for your cannabis business is selecting the right accountant to handle your monthly financial preparation and even more important, your year-end taxes. It is for this reason that we are giving you the list of questions below to use as a guide when interviewing and hiring an accountant for your cannabis business

As a cannabis business owner, you have a lot of laws and regulations to follow. It’s easy for accounting to fall by the wayside. If you haven’t been staying on top of your books, now’s the time to start cleaning them up. Here’s why it matters. Ensuring Cannabis Compliance....

Were you one of the millions of businesses that filed for an extension two weeks ago or back in March that still has not gotten around to starting work on your 2019 taxes? If you were, I would HIGHLY recommend that you contact your accountant or tax preparer sooner than later, because just like everything else in 2020, this is a very strange tax season for accountants.

Are you looking for a way to diversify your IRA? While stocks and bonds are popular investments, you might consider investing in real estate to generate extra income. Many individuals view real estate as an intelligent, long-term investment that protects portfolios against market volatility and inflation.