Advising a business that technically trafficks in controlled substances can get pretty complicated from a tax and business planning perspective. You can't deduct anything apart from costs of goods sold, which has big implications for ongoing operations and entity selection. And if there's one industry where asset protection is a priority, you've found it. This course will focus on business and tax planning techniques for marijuana-related businesses. Discover tactics that work, red herrings that don't and get practical tips to protect your clients - order today!
Tax Planning for Marijuana-Related Businesses
Business Planning, Entity Selection and Structural Strategies
MICHELLE R.E. DONOVAN is senior counsel in Clark Hill PLC's litigation group, based in the firm's Detroit office. With more than 20 years of experience in corporate and real estate law, she uses her experience to advise cannabis companies regarding medical and adult use marijuana licensing, regulatory, compliance, business entity formation, and litigation. Along with national experience, Ms. Donovan has extensive background with Michigan's Medical Marijuana Facilities Licensing and Michigan Regulation and Taxation of Marijuana Act and has successfully assisted clients with the process for applying for pre-qualification and license qualification status. Ms. Donovan earned her B.A. degree from the University of Detroit Mercy and her J.D. degree from Thomas M. Cooley Law School. She is admitted to the practice in Michigan and the courts of U.S. District Ct., E.D. of Michigan and the U.S. Supreme Court.
HARLEY M. SHERMAN is the founder of Harley M. Sherman CPA where he has over 20 years of experience in personal income tax, home-based budgeting, small business start-up activities, accounting and income tax issues. He has been responsible for servicing clients in the medical, food service, real estate, governmental, and construction industries. Mr. Sherman is a graduate of Central Michigan University where he received his B.S. degree and he earned his M.S. degree in professional accountancy from Walsh College. He is an adjunct professor of accounting and income tax at Oakland Community College. Mr. Sherman is a member of the American Institute of CPAs and the Michigan Association of CPAs. He also obtained a certified fraud examiner (CFE) designation from the Association of Certified Fraud Examiners (ACFE), a Six Sigma Greenbelt from Lawrence Technical University, and is also a Quickbooks ProAdvisor.
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