For cannabis businesses, federal income taxes can be ruinous—even in loss years. Unlike other industries, which pay income taxes only on actual income, cannabis businesses, defined in federal law as drug traffickers, are singled out for an extra tax on a portion of their expenses. As a result, even the best tax planning tends to be complex and unpredictable. Recently, however, planners have become interested in a simple loophole which could eliminate cannabis’s disparate tax treatment entirely.
Making a change in your accounting method is the most exciting technique in cannabis tax planning today, and it yields a large tax savings from a small investment in tax planning. Executing this plan is a simple two-step process, both will be handled by the business’s CPA.
Manzuri Law’s cannabis business law experts will also discuss how to negotiate and implement a compliant management services agreement for cannabis businesses.
Join us for a new webinar to learn more on June 25 from 12 – 1 pm PDT. (Dial in Details Below)
Check out our blog post for more details.
Abraham Finberg, MBA, CPA
Abraham Finberg, MBA, CPA, Managing Partner at AB FinWright LLP, provides outstanding client services to simplify troublesome tax issues and is the go-to tax and accounting expert for business owners in new and emerging industries. He is especially well-versed in cannabis-related tax issues.
Previously, Abraham founded his own full-service accounting firm and served as CEO for over a decade.
Andrew Gradman, Esq.
Andrew Gradman, Esq., is a Trusted Advisor at AB FinWright LLP and founder of Gradman Tax. He is an expert in tax law who helps clients understand and minimize tax obligations including income, estate, employment, property, excise, sales, use and franchise taxes.
Prior to Gradman Tax, Andrew practiced law for various employers, garnering a decade’s worth of experience and expertise.
Rachel Wright, MST
Rachel Wright, MST is a Managing Partner with AB FinWright LLP and has vast experience building accounting departments and creating internal controls for fast-growing entities. As a leader in her field, she successfully navigates the tax landscape to find the best solutions for clients to elevate their businesses, while making complicated tax issues simple to understand.
Rachel previously founded and managed her own firm Wright Accounting Services for 15 years.
Meital Manzuri, Managing Partner
Meital Manzuri, is the managing partner for Manzuri Law and was recently named as one of the top cannabis attorneys nationwide due to her expert knowledge and experience. Leading a profound team of cannabis attorneys, Meital has been trailblazing cannabis legal issues since 2010. As one of the first cannabis business attorneys in California, Meital has earned a prominent reputation for her dedication to excellence in advising commercial cannabis businesses on a myriad of issues.
Since 2008, Meital has defended clients accused of cannabis related crimes and her tenure includes some of the biggest Federal Medical Marijuana cases to date.
Cannabis Webinar Hosted by AB FinWright LLP
Thu, Jun 25, 2020 12:00 PM – 1:00 PM (PDT)
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