Banking as a Cannabis Business: How to Stash Your Cash

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Banking as a Cannabis Business: How to Stash Your Cash In world of operational and legal hurdles, many cannabis businesses, or “cannabiz,” are left asking where they can, or should, put their profits. Operating in large amounts of cash is obviously risky and unsafe, not to mention a logistical headache when it comes to simple,
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The Mythical Tax-Advantaged Cannabiz

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The Mythical Tax-Advantaged Cannabiz Not every entrepreneur has the cash to simply start up a new business, especially not a cannabiz enterprise. Often, they have a plan and strategy but still need one key thing – capital. New entrepreneurs typically need to seek out investors and ultimately must dilute their stock or membership interest to
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Dear Cannabusinesses: Cover Your Assets

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Dear Cannabusinesses: Cover Your Assets The ethical and moral debates on cannabis continue to fill the news, yet another divide continues to exist in the United States. Legal for recreational and/or medical use in the majority of states, marijuana remains a Federal crime. The conundrum of legality between the state and federal governments gives rise
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Deduct Non-Marijuana Entity Business Expenses

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Deduct Non-Marijuana Entity Business Expenses Although §280E prohibits cannabis growers and retailers from claiming deductions “for any amount paid or incurred during the taxable year in carrying on any trade or business….”, there are two common approaches to minimizing the impact of this harsh provision. First, taxpayers should seek to maximize Cost of Goods Sold
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Asset Protection

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Asset Protection Asset protection works as a safeguard of your corporate assets by keeping them out of reach from potential judgment creditors and enforcement actions. Neglecting to properly protect your assets can lead to a liquidation of your assets and equipment; resulting, in a forced sale of your hard-earned business. Even worse, if you are
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