Entity Selection, Structural Techniques, IRC § 280E Implications, Recordkeeping, Audits and More
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 - register today!
Clarify the implications of Internal Revenue Code § 280E case law on tax planning, accounting and entity selection.
Get practical strategies for recordkeeping, audit defense and overcoming state taxation challenges.
Identify asset protection and business structuring techniques in the cannabis industry.
This course is part of the Illinois Marijuana Business Law 2021: An Online Seminar Series series.
THOMAS E. HOWARD is an attorney with Collateral Base. Mr. Howard has represented numerous financial institutions in litigation to enforce their security interests. Since 2018, he has helped numerous cannabis companies with their hemp farms, to licensing applications in the adult use cannabis industry. After nearly ten years of practicing law with his father, Mr. Howard started the Collateral Base to bring sophisticate corporate and commercial law into the 21st century by shaking up the current corporate culture that makes so many lawyers regret going to law school and have terrible work/life balance. Mr. Howard advises businesses and financial institutions in the incipient marijuana industry. He frequently publishes articles on the same and has even published a book on the history of the marijuana laws. To further develop his cannabis practice and help the state of Illinois transition from medical to full adult use of cannabis, Mr. Howard designed and built CannabisIndustryLawyer.com. Mr. Howard is admitted to practice in Illinois and Wisconsin. He received his B.A. degree from Illinois Wesleyan University and his J.D. degree from Marquette University Law School.
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