New Tax Benefit Available for California Qualified Licensed Cannabis Retailers Beginning January 1, 2023 Beginning January 1, 2023, the responsibility for collecting and paying the cannabis excise tax to the California Department of Tax and Fee Administration (CDTFA)...
Biden Signs Marijuana Research Bill Into Law – If You Can’t Beat Them, Join Them! The Medical Marijuana and Cannabidiol Research Expansion Act is the first standalone federal marijuana reform law enacted since the adoption of the Controlled Substances Act in 1971. The...
IRS Examinations Of Cannabis Businesses Expected To Rise In 2023 – Are You Ready For An I.R.C. § 280E IRS Tax Audit? Under the Inflation Reduction Act the IRS is receiving $80 billion in new funding. Speaking at an IRS facility in New Carrollton, Maryland on September...
Why Tax Planning Is More Important If You Earn Income From The Gig Economy. From renting spare rooms and vacation homes to car rides or using a bike…name a service or a craft & handmade item marketplace and it’s probably available through the gig economy which is...
On August 16, 2022 President Biden signed the 2022 Inflation Reduction Act which has some favorable tax changes you should be aware especially now that we are approaching the end of 2022. Major Changes From The New Law Include: A three-year extension of expanded...
Bipartisan Marijuana Research Bill On Its Way To President Biden For Signature Into Law – If You Can’t Beat Them, Join Them! On November 16, 2022 the Senate passed by voice vote the Medical Marijuana and Cannabidiol Research Expansion Act, a bill introduced by...
How Did Cannabis Fare In The November 2022 Elections? The November 2022 Elections gave voters in five states—Arkansas, Maryland, Missouri, North Dakota and South Dakota—the opportunity to decide on whether they want to legalize adult-use marijuana. Here are the...
New Responsibilities for Cannabis Retailers Beginning January 1, 2023 Beginning January 1, 2023, the responsibility for collecting and paying the cannabis excise tax to the California Department of Tax and Fee Administration (CDTFA) shifts from distributors to...
On November 3, 2022 the IRS released the Criminal Investigation Division’s (CI) annual report, highlighting significant successes and criminal enforcement actions taken in fiscal year ending September 30, 2022. The IRS noted that a key achievement was the...
Did you miss the October 17, 2022 tax return filing deadline? Areas with a new filing deadline of February 15, 2023, include: Florida, Puerto Rico, North Carolina, South Carolina, Areas in Alaska identified under FEMA’s Major Disaster Declaration 4672 and Hinds...
