Federal Tax

Marijuana Dispensary accounting & taxation

  • 1.  Marijuana Dispensary accounting & taxation

    Platinum Most Valuable Member
    Posted 02-07-2019 10:44 AM
    Hello Friends

    i recently acquired a Marijuana dispensary . We know only COGS qualify for a deduction. However, the judgement about which is truly a COGS  expense is where i would like to have a discussion on .

    Does anyone have insight into this area. ?

    If yes, please contact me  through here, or privately. i am in need of a few minutes of guidance.

    regards to all



    Abby

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    Abby Alhante
    KURCIAS & ALHANTE, CPAs LLC
    Melville NY
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  • 2.  RE: Marijuana Dispensary accounting & taxation

    Platinum Most Valuable Member
    Posted 02-07-2019 11:20 AM
    Abby check out
    Marijuana Business Cost of Goods Sold ("COGS") Overview
    CALIFORNIA CANNABIS CPA remove preview
    Marijuana Business Cost of Goods Sold ("COGS") Overview
    Many cannabis-related businesses would like to take deductions for the costs related to their business activities. However, the tax code, Internal Revenue Code ("IRC"), has some very specific provisions regarding the businesses that are permitted to take cost of goods sold (COGS) deductions and which expenses may be included.
    View this on CALIFORNIA CANNABIS CPA >


    Ross

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    Ross Kass
    Kass & Monahan CPAs, P.C.
    Melville NY
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  • 3.  RE: Marijuana Dispensary accounting & taxation

    Platinum Most Valuable Member
    Posted 02-07-2019 11:47 AM

    How is it, that so often , you just hit the mark

     

    I will read and digest

     

    Warmest regards always

     

     

    Abby