Preparing Tax Returns for the Marijuana Industry
- 4 months ago
- In Accounting
|Street Address||322 N Spokane Falls Ct|
The legal marijuana industry finds itself in a very unique tax limbo – while the sale of marijuana is legal (but regulated) in many states, marijuana remains a Schedule I narcotic under federal law. As such, the preparation of tax returns for industry businesses is governed by Internal Revenue Code Section 280E and a number of court cases. Spend the day with us and acquire the tools you need to protect yourself, your practice and your clients.
Join us for 9* hours of continuing education taught by enrolled agents, CPAs and attorneys. Material to be covered includes:
Ethical considerations for EAs CPAs and attorneys entering the industry
Legal considerations when licensing is valid under state law, but a crime under federal law
IRC Section 280E and the intersection with IRC 263A and IRC 471
Chief Counsel’s Advice 201504011
Best practices for legal structure in the industry
Form 8300 compliance and how it affects the Cannabis industry
Using form 8300 compliance to attract clients
New material — your client as a passive investor
A detailed tax return simulation from establishment of the entity through closing.