Watch Now: 2022 Year-End Tax Planning & Compliance for Cannabis Businesses

Year End Cannabis Business Tax Planning

In this live webinar, AAFCPAs’ Cannabis Practice Leaders covered Federal & State tax planning strategies for cannabis businesses. Listen to hear what you may need to consider now to optimize your 2022 tax position.

Topics Covered Include:

  • Key considerations for Tax Compliance Readiness
  • 280E Tax key considerations, and the impact of states’ decoupling
  • Understanding applicable Tax Credits & Incentives, including the Employee Retention Credit and Credits offered in the new Inflation Reduction Act
  • Multistate tax compliance, and streamlining to reduce administrative burden & costs
  • How tax impacts decisions about mergers, acquisitions, or divestiture
  • And much more!

Watch this Webinar OnDemand:


(L-R) Dave Gravel, CPA, Dave McManus, CPA, CGMA, Tomás A. Pueyo, Jr., CPA, MSA, Joshua England, LLM, Esq., and Scott Posnick, CMA

About the Authors

David McManus CPA
Dave leads AAFCPAs’ Cannabis Business Practice, providing highly coveted tax, entity structure, and business advisory solutions.  Dave has been deeply immersed in understanding the complex financial and operational nuances of the cannabis industry since 2012. He advises multi-state operators, recreational and medical retailers, cultivators, product manufacturers, and investors. He proactively advises clients on risks, opportunities, and tax implications related to market entry, accounting methods, capital structure, debt financing, R&D, M&A, and goodwill impairment. He has led industry training sessions on interpreting and implementing new federal and state marijuana statutes, including compliance with 280E. Dave maintains a strong network of cannabis industry investors, attorneys, bankers, employee compensation and benefits providers, realtors, risk managers, and insurance agents, and he leverages these resources as appropriate to help clients achieve success.
Dave is a leader in AAFCPAs’ cannabis practice. He provides tax and consulting solutions to multi-state operators, recreational and medical retailers, cultivators, product manufacturers, and investors. He has extensive experience advising cannabis operators and license applicants on optimal entity structure, maximizing deductions in accordance with IRC Section 280E, and multi-year tax planning to ensure preferred tax results, with a focus on preserving cash and maximizing lender/investor value. He also provides guidance on avoiding pitfalls associated with 280E and state and local tax compliance. He helps clients understand the critical role of cost accounting in the cannabis space, and what is scrutinized by those evaluating your statements. He provides insight on documentation needed and what to expect to support an IRS or other external audit.
Tomas is a member of AAFCPAs Commercial Tax Practice working alongside an integrated team of seasoned, well-known CPAs and industry leaders in the delivery of international, federal, multi-state, and local tax planning & compliance solutions. Tomas has extensive experience preparing complex C corporation, S corporation and partnership income tax returns for privately held business. He researches and drafts memorandums involving complex tax matters and new legislation and identifies short- and long-term tax planning opportunities. He advises AAFCPAs clients operating in multiple states and municipalities on managing and planning for the continuously evolving complexities of state and local taxation, including mitigating risks for non-compliance. He analyses clients’ nexus for income/franchise tax and sales & use taxes and provides apportionment determinations where there is a taxable presence.
Joshua England, Tax Attorney
Josh is a tax strategist with extensive expertise advising high-net-worth individuals, nonprofits, and business owners and investors on effective strategies to ensure tax efficiency, asset protection, well-executed succession plans, and wealth preservation. He has been practicing law since 2000 and focuses his practice on the areas of wealth transfer planning, fiduciary and individual taxation, business structuring to maximize tax efficiency, and advising tax-exempt organizations, foundations and charitable donors.
Scott Posnick, Consulting CFO
Scott is a senior member of AAFCPAs' Managed Accounting Solutions practice, providing high-level, outsourced CFO oversight and strategic planning, including financial forecasts & analysis and advising on growth strategies, business transactions, tax optimization, and strengthening internal controls. He has 35+ years of diverse, hands-on industry experience, including: high tech, biotech, manufacturing, distribution & wholesale, leasing and finance, as well as many traditional New England-based industries. Scott is well-versed in the issues and complexities facing commercial company entrepreneurs, and he makes himself an invaluable source of financial guidance as an extended member of client management teams.