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Cannabusiness Tax Liabilities and How to Navigate Filing

CPA Practice

147 ensured that these critical costs incurred by cannabusinesses be classified as deductibles for income tax purposes. However, this means that these entrepreneurs must be diligent in their cost accounting or risk leaving deductions on the table – or worse – taking wrongful deductions that can have consequences for your business.

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Understanding the FAQs Related to Overhead Rate Audits for Growing A&E Firms

Cherry Bekaert

First, the auditor will review the A&E firm’s financial statements to gain an understanding of the business’s operations and overhead costs. Next, the auditor will review the A&E firm’s allocation of overhead costs to products or services. Q: What is the process for an overhead rate audit?

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Which Are the Most In-Demand Accounting Jobs Right Now?

Snyder

The choice to become an accountant depends on your temperament and career prospects. So, choose to become an accountant if you are a person who likes: Numerical challenges like calculating taxes, money, currency conversion, financial statements, profits, and similar computations.

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Offering Virtual CFO Services in the Cannabis Industry with Guillermo Rodriguez

Anders CPA

Guillermo (00:02:04) – And like most CPAs, I think I had the opportunity to go into industry or public accounting when I graduated college and I decided to go into industry and got my CPA. And there’s courses out there to learn how the cost accounting works in the cannabis industry.