Cannabis Accounting

The accounting requirements of a marijuana/cannabis business, whether it be a producer, processor, wholesaler or dispensary are very complex.  We have been studying and working in tandem with cannabis businesses at various stages of growth. Come talk with an expert experienced in the taxation of a marijuana business in order to maximize the return on your investment.

There are several sections of the Internal Revenue Code (“IRC”) that directly impact the taxation of your marijuana business. We provide the cost accounting to properly calculate their taxable income in accordance with three primary sections of the IRC. Code sections IRC § 162(a), IRC § 471 and IRC § 263A, and IRC § 280E have already caused larger marijuana business fines and penalties. IATC Inc will help you avoid unnecessary fines and IRS penalties by keeping your business compliant with accurate accounting.

Our Cannabis Accounting Services:

  • Proper evaluation of ordinary & necessary expenses
  • Cannabis Industry Specific chart of accounts
  • Accounting Services (CFO or Sr. Acct)
  • Bookkeeping Services
  • Payroll Services

Tracking & Reporting:

  • Cost accounting templates and trackers
  • COGS on cash basis
  • Direct and Indirect production related expenses

Tax Return:

  • Include Calculation of taxes for federal, state, and local jurisdictions
  • Accurate and timely preparation of all returns required for Federal, and State tax agencies
  • Form 8300 Compliance
  • Consolidated tax returns