Billion-Dollar Questions: Cannabis FAQ for Accountants

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Source: mjbizdaily.com/factbook/

18 Frequently Asked Questions on Taxes and Accounting for Cannabis Businesses.
Plus: Six Leading Sources for More Info.

By CPA Trendlines Research

With cannabis dispensaries and recreational stores pulling in about $3.1 billion in revenue this year, the U.S. marijuana industry is expected to pump an estimated $10 billion into state and local economies, making it a powerful source of industry, employment and taxes for cash-strapped states, according to the Marijuana Business Factbook. The same source projects a $29 billion industry in four years, rivaling today’s U.S. wine industry.

RELATED: See more marijuana-industry reports here

More than 60 tax, accounting and CPA firms in more than two dozen states are already advertising cannabis-related business issues as a specialty niche.

Naturally, accountants have questions. Here CPA Trendlines answers a few of the most frequently asked… READ MORE →

When Staffers Stagnate

Ed Mendlowitz CPA The Practice Doctor Q and AHigher-level staff person isn’t supervising or mentoring anyone.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

QUESTION: I have a staff person who does great work, but she seems to be deadened. The good news is that her clients love her and she doesn’t bug me about becoming a partner.

MORE PRACTICE DOCTOR Q&A: Yes, You Should Send Rejection Letters | 7 Ways to Lose a Client’s Trust | 12 Must-Knows for Niche Markets | 6 Ways to Take a Client Beyond Tax Prep | 18 Ways to Blow a Partnership Opportunity | 8 Times When Hourly Billing Trumps Value Pricing | When a Staffer Stops Listening | 44 Critical Criteria for Accounting Staff Performance Evaluations | 5 Time Management Tips for an Overworked Accountant | Pricing, Billing, Costing: Don’t Blame Clients

Any suggestions on what I could do to move her forward?

READ MORE →