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Canna blog: useful resources

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OUR FOCUS IS OUR CLIENTS

It is no secret that cannabis audits are on the rise as the government cracks down on adherence (or lack thereof) to IRC Sections 280E and 471. With the potential for huge fines and penalties around every corner, understanding the cannabis tax codes are more important than ever!

Frequently asked questions

Are your cannabis tax accounting education courses approved for continuing professional education (CPE) hours?

Not at the moment. We are in the process of becoming an approved continuing education provider for the Internal Revenue Service so our students can earn credit hours for our courses. Upon IRS approval, we will offer CPE credit hours for IRS Enrolled Agents, Oregon Licensed Tax Consultants & Licensed Tax Preparers. CPE hours will also qualify for Chartered Financial Consultant (ChFC), and Certified Financial Planner (CFP) designation holders. 

Will your cannabis education programs provide the necessary knowledge to enter this lucrative and exciting industry?

Our flagship course provides students with a complete overview of Internal Revenue Code Sections 280E and 471. The courses cover how to calculate cannabis cost of goods sold (COGS), account for inventory under IRC 471 (3) & (11), GAAP accounting basics (including cost / full absorption accounting), how to prepare GAAP compliant financial statements, the basics of cannabis business entities, and the preparation of cannabis tax returns.

What if I have questions about the cannabis tax accounting education course material?

f you have any questions, you may call or email and we will respond within 24 hours.

Are there any time limits on finishing the course material?

No! You may take all the time you need to work through the course materials!
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