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Cannabusiness Tax Liabilities and How to Navigate Filing

CPA Practice

By Samantha Schafer, CPA. Thinking that only dispensaries have to worry about taxes to their cannabusiness? Entrepreneurs, processors, and cultivators in the cannabis industry may be subject to taxation, and it’s important for them to understand the complexities around their tax implications. Think again. 280E IRC Sec.

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CPAs Should Get Into Weed, Says CPA Into Weed (As a Business, That Is)

Going Concern

The growers and sellers of these products, having been empowered to do so in daylight rather than the shadows of your nearest high school parking lot, are just as in need of skilled CPAs as any other business. This recent Journal of Accountancy article. So how do CPAs get into this niche? You love to see it!

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Monday Morning Accounting News Brief: Tax Fees Up, Coolness Still Down; | ‘Lavish’ ERC Mill Hit With a Lawsuit | 1.8.24

Going Concern

The headline is a bit disappointing however the article is not: Tax prep fees are rising because accounting is not a ‘cool’ career American taxpayers had to pay at least 20% more on average to get their taxes done last year — and accountants aren’t thrilled about it either. increase from $167 two years ago. In Sanders v.

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Friday Footnotes: Higher Salaries Lead to Higher Fees; EY Auditors Quit; Senator Rags on Greedy Accounting Firms | 1.27.23

Going Concern

As the watchdog’s delayed ruling into EY’s controversial audit for the disgraced German payments firm approaches, four current and former employees this month resigned from the country’s chamber of public accountants, the WPK. 9 focusing on its financial and cost accounting controls, it said Thursday in its 10-K.

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Gaining More Value with Virtual Accounting

AccountingDepartment

You might want to make changes before the new fiscal year or tax year starts. Here are some of the ways you can benefit from outsourced accounting services. Virtual Accounting Is More Than a CPA. Many smaller businesses only have a CPA that handles their tax return. Gain More Expertise.

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Accountant Vs. Controller: What's the difference?

Basis 365

Non-controller accountants generally perform more straightforward accounting tasks than controllers. These responsibilities include internal reports, cost accounting, tax auditing, and cost accounting. Each CPA can also manage other bookkeepers and understand how to complete their bookkeeping tasks.

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PKF O’Connor Davies Welcomes Massachusetts-based Archambault & Associates

CPA Practice

PKF O’Connor Davies, one of the nation’s largest accounting, tax and advisory practices, has announced that Archambault & Associates has joined the organization, effective January 1, 2023. In addition, the firm has experience consulting with law firms, executors and trustees on estate, trust and gift tax matters impacting clients.