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.
Tax Planning for Marijuana-Related Businesses
Business Planning, Entity Selection and Structural Strategies
BRUCE T. ANDERSEN is the president of BTA Corporation, a boutique firm located in Los Angeles, California, providing tax, accounting, and consulting services to small businesses. Mr. Andersen is a certified public accountant. He has taught management science and information systems at California State University in Bakersfield. For the last 14 years, he has been a member of the faculty at the University of Phoenix School of Business. Mr. Andersen is a member of California Society of Certified Public Accountants. He received his B.S. degree from Iowa State University, his M.S.B.A degree from Boston University, his M.B.A. degree from California State University in Bakersfield; and his M.S. (taxation) degree from Golden Gate University. After watching the cannabis industry for several years, the firm set up a division specifically for the cannabis industry in 2018, branded as CannabisCPA.tax, providing tax, audit, accounting, and systems support to the cannabis industry.
JEFFREY GARD is a Colorado attorney with Gard Law Firm, LLC, specializing in marijuana law. He represents numerous patients, doctors, and marijuana businesses throughout the state of Colorado and has advised people from all over the country. Mr. Gard advises both state and local governments in their development of medical marijuana business regulations. He is widely considered one of Colorado's leading marijuana attorneys. Since the passage of Amendment 64, which legalized adult possession and cultivation of marijuana in Colorado, Mr. Gard has been working with state and local officials in developing regulations for the retail marijuana industry and was appointed by the state to participate in the rule-making progress. Over the last year, he has been working with the U.S. Congress to assist with an analysis of the federal code to determine the various areas which are impacted by the state marijuana laws in hopes of reconciling state and federal law in the near future. Mr. Gard now shares his knowledge and experience with other attorneys and has given several CLE lectures on various aspects of marijuana law. By way of background, he is a Colorado native and a cum laude philosophy graduate from the University of Colorado, where he also was elected Phi Beta Kappa. While attending the law school, Mr. Gard won the William De Souchet Award for best individual performance in trial advocacy and won a multi-state moot court competition during his first year of law school. After graduation, he accepted a position with a respected litigation firm in Boulder, Colorado, and later formed his own firm in downtown Boulder, Colorado.
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