Running a business is hard work. If you run a cannabis or hemp business, it’s often even harder. There are so many strict rules and regulations to keep track of to stay compliant. On top of that, banking is much more challenging. As a cannabis or hemp business, you need to stay on top of your financials to maintain compliance. Having an understanding of good accounting practices can help.
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For hemp and cannabis businesses, tax time can be incredibly stressful. Filing taxes can be a chore for any business, but it can be exceptionally challenging for those in these industries. Planning now can help save you a massive headache, especially if you have the right help.
On March 27, 2020, the Coronavirus Aid, Relief Economic Security Act (CARES) was signed into law. One section of this $2trillion stimulus package authorized Economic Impact Payments (stimulus checks) to be issued in an attempt to provide a temporary boost to the economy that has currently been impacted by the spread of COVID-19 and the resulting business closures....
