Watch Now: AAFCPAs' Cannabis Tax Webinar

As we approach the conclusion of 2023, the Cannabis Practice at AAFCPAs extends a warm invitation to our esteemed clients and friends to proactively evaluate their comprehensive financial status in anticipation of strategic year-end tax planning. Please remember, implementing the majority of tax-saving strategies necessitates action on or before December 31. At AAFCPAs, we stand ready to assist you in mitigating your tax liabilities and look forward with enthusiasm to steering you through the forthcoming 2023-2024 tax season, assuring a smooth and beneficial transition into the new financial year.

Tax strategies covered in this webinar include:

  • Key Considerations for Tax Compliance Readiness
  • 280E Tax Considerations and the Impact of States’ Decoupling
  • How Rescheduling Could Impact Tax and Operations
  • Understanding Applicable Tax Credits and Incentives Including the Employee Retention Credit and Inflation Reduction Act Credits
  • Multistate Tax Compliance and Streamlining to Reduce Administration and Costs
  • How Tax Affects Merger, Acquisition, and Divestiture Decisions
  • Analytics and Key Performance Indicators
  • And much more!

Speakers (L-R): David McManus, CPA, CGMA, Tomás A. Pueyo, Jr., CPA, MSA, Joshua England, LLM, Esq., Janice O’Reilly, CPA, CGMA, and David J. Gravel, CPA, MPAc

Webinar OnDemand

Download AAFCPAs’ Cannabis Tax Webinar slides here. >>

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.
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.
Janice O'Reilly CPA
Janice is a Partner in the Consulting Division of AAFCPAs and advisor and former leader of the Managed Accounting Solutions (MAS) practice, which provides “right-size” outsourced accounting solutions, from cloud-based bookkeeping to CFO deliverables, designed to optimize the effectiveness of the modern finance function.  Public, privately-held, and nonprofit organizations value the pragmatic assessment, infrastructure set-up, and flawless execution of their accounting & finance deliverables—all completed with the resources and technical expertise of AAFCPAs’ full-service CPA and consulting firm.
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.