Blogs & Articles

April 19, 2018

By

Jesus Martinez

CTAS Intern, September 2017

University of San Diego

BBA Business Economics, December 2018

martinezj@sandiego.edu

Jim Sprouse

CTAS Managing Partner

Jim@calctas.com

Cannabis Market and Risk Minimization 

Looking for better than average returns? A likely place to...

May 1, 2017

Company Background:

As the only local law, tax, payroll and business consultancy firm who bundles diverse functions, Cannabis Tax and Accounting Services CTAS is a partner who manages legal needs; plans and preps federal (280e), state and local taxes; and provides full...

December 23, 2016

By: Shane Flagstad

Background on Medical Marijuana Legality in California

Now that marijuana is recreationally legal in California as of midnight November 9th, 2016, medical patients are left wondering how they can secure their access to affordable medical marijuana. Bef...

December 16, 2016

We are figuring that CA will see the next wave of IRS audits and what we have learned from the audits currently being conducted in CO is that 8300 forms are a big deal!!!

Form 8300 Incidents in Colorado

By: Sharon Lu

December 13, 2016

IRS Form 8300

Form 8300, Report of Cash...

December 15, 2016

Limitations on Cannabis Related Expenses in California

By: Sharon Lu

December 1, 2016

California State Law: Personal Income Tax vs. Corporate Income Tax

Section 280E of the U.S. Tax code prohibits businesses from deducting ordinary and necessary business expenses. With reg...

December 15, 2016

Opting Out of Workers Compensation

By: Shane Flagstad

There is an established workers’ compensation system that provides employees benefits for those who suffer from an illness or injury that was a result of employment, regardless of fault. Included in employees are offi...

September 12, 2016

Another awesome article by our intern Henry.  Truly great work and to no surprise Big Pharma makes their own rules as they have the money to buy it, I mean do it....


Pharmaceutical companies are not constrained by 280E since they are authorized by the DEA to produ...

July 13, 2016

Summary

Downgrading marijuana from Schedule I to Schedule II has no effect on businesses in the cannabis industry with regards to tax liability and writing off expenses under 26 U.S.C. § 280E.

Reclassification of Marijuana

Marijuana is currently classified as a Schedule I...

May 24, 2016

What is a proven strategy that allows state-sanctioned marijuana businesses to sidestep the negative tax impact of 280E? Unfortunately, cannabusinesses cannot be exempt under LR.C. 501(C) because of the “public policy doctrine” that prevents charities from having reaso...

May 17, 2016

Visit the Board of Equalization web site and you will find out what registration types you will need in order to own and operate your business in California. The permits that you will need depends on the business activities included in your business. There are fifteen...

Please reload

Featured Posts
Please reload

Archive
Please reload

Search By Tags

© 2015 by Cannabis Tax and Accounting Services