aBIZinaBOX Inc
Accounting and Tax / Popular Featured
The Cannabis Practice Group [“CPG”] of aBIZinaBOX Inc. CPA’s serves commercial cannabis industry businesses in California. The CPG have experienced > 250% growth over prior period due adult-use cannabis becoming legal in 2018. The CPG has professionals in Evanston, IL, and Oakland, CA. The practice is led by Jordan S. Zoot, CPA, Managing Director – CEO, who has been in professional practice since 1982.
The firm is skilled in dealing with:
- The unique financial record-keeping needs of cultivators, distributors, processors, and extractors.
- The selection of optimal operating structures for each participant in the California cannabis industry.
- Adjusting structures and modifying financial record-keeping to comply with a rapidly evolving regulated California marketplace.
- Understanding of the challenges presented by a long history in this industry of “doing business in cash” and the associated problems.
- The practical needs related to banking, card processing, and anti-money laundering issues applicable to this industry.
- The complex processes relating to permitting, licensing as well as reporting and paying cannabis excise tax and gross receipts tax at the municipal and county level.
- Implementing effective strategies for addressing the onerous impact of the limitation on the deduction of ordinary and necessary business expenses imposed by Internal Revenue Code §280E on businesses engaged in “trafficking”.
A Leader in California’s Cannabis Practice, the CPG will retain its position as a leader in financial record-keeping and be reporting for California’s medical and recreational cannabis industry by constantly adjusting to the demands of this evolving industry.
You can get a very quick overview of our capabilities with our reel link,
Blog – Licensing – Services – CA Reg. Resources – Reefer Madness – FAQ’s
Interesting Articles
- This is a very sophisticated article on IRC Sec. 280E for California – https://abizinaboxcannabis.com/abizinabox-cpas/updates/tax/analysis-irc-sec-280e/
- California Cannabis Cultivation as Agricultural Activity [“farming”] – https://abizinaboxcannabis.com/california-cannabis-cultivation/
- Listing ID: 25550
- Facebook: https://business.facebook.com/abizinaboxoakland/?business_id=1088666784491582
- Twitter: https://twitter.com/aBIZ_Canna_BOT
- LinkedIn: https://www.linkedin.com/in/jordanzoot/
