Numerous meetings with the IRS deductions on the cost of labor for rolling joints.
By Liz Gold
cannabizcpa.pro
As a CPA in Colorado, Jim Marty saw a need for a large, sophisticated accounting firm to handle the booming cannabis industry. As a result, he designed his Longmont, Co.-based firm, Bridge West CPAs – focused solely on cannabis clients – to be acquired. And as it turned out, his plan and the timing were excellent.
MORE CANNABIZ: CPA Kim Walker: ‘We Can’t Be Afraid of Diving into Marijuana’ | Cannabiz CPA: Dani Espinda Chooses Option Number Three | The Two Crippling Compliance Issues for Cannabis Industry | Ready or Not: CPA Firms Find New Opportunity in Booming Cannabis Industry | IRS Section 280E & Marijuana: Tax Limbo or Hell? | The Wild World of Weed: Tax Season Never Ends
MORE JIM MARTY: Jim Marty: The Rise of a Cannabiz CPA [VIDEO] | Jim Marty: The Two Crippling Compliance Issues for Cannabis Industry [VIDEO] |
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But let’s back up a bit: In 2009, Marty, who already had a successful traditional CPA firm with a staff of 10 and nearly 1,000 clients, decided to accept cannabusinesses into his clientele.