Booming new niche where opportunity meets complexity.
By Liz Gold
cannabizcpa.pro
Cannabis startup costs are on the rise, as cultivators, vertically integrated retailers and laboratories are spending upwards of $1 million just to launch, making the sector as potentially treacherous as it is potentially lucrative for many tax and accounting firms on the leading edge of the booming new industry.
MORE at CPA Trendlines’ cannabizcpa.pro: Tom Achor: At the Intersection of Cannabis Accounting and Technology | Jessica Velazquez on Cannabis Accounting and Activism | PODCAST: Rich Wortmann Pioneers Cannabis in Pennsylvania | PODCAST: John Repetti and Mitzi Hollenbeck of Citrin Cooperman | PODCAST: Jim Marty and Cory Parnell Go National | PODCAST: Drew Dearlove Talks about the Cannabis Business | 4 Best Things About Being a ‘Dope’ Accountant | 5 Biggest Mistakes Cannabis CEOS Make | Five Secrets to Launching Your Own Cannabis Accounting Firm | Five Reasons Accountants Should Serve Cannabis Clients | Derek Davis Keeps California Cannabis Clients Informed
And more on the cannabis niche at CPA Trendlines cannabizcpa.pro
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The budding industry is confounded by differing regulatory models emerging nationally for both medical marijuana and adult use programs. But it’s clear – those cannabusinesses that are succeeding have help. More accountants are moving into the cannabis space, helping clients develop a sound financial infrastructure, a regular accounting and bookkeeping process and a solid understanding of IRS Tax Code 280E.
That said, there is so much up in the air.
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