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ESOPs May Be the Key to Operating Tax-free in the Cannabis Space

ESOPs May Be the Key to Operating Tax-free in the Cannabis Space

Cannabis operators focus heavily on tax mitigation, employee retention, growth strategies, and profitable exit. A properly structured ESOP is a great tool to accomplish all those goals and more. In a recent webinar, “Cannabis ESOPs – The Industry Game Changer”, AAFCPAs’  David McManus, CPA, CGMA, Tax Partner & National Cannabis Practice Leader and Joshua England, LLM, Esq., […]

AAFCPAs To Present at Illinois Cannabis Convention

AAFCPAs To Present at Illinois Cannabis Convention

AAFCPAs is pleased to announce that Joshua England, LLM, Esq. and David Gravel, CPA, MPAc have been invited to present on “Cannabis Rescheduling: History, Regulatory Hurdles, and Operator Impact Expectations” at NECANN’s Illinois Cannabis Convention & Expo, May 31 – June 1, 2024 in Chicago. This session will delve into cannabis rescheduling, its historical context, […]

Cannabis Ventures, Startup Best Practices, and Ways to Compete
Cannabis-Business-Executive

Cannabis Ventures, Startup Best Practices, and Ways to Compete

Cannabis Business Executive (March 25, 2024) – Once relatively easy to break into, the cannabis industry now demands a leaner and more conservative approach to financial management along with precise forecasting and a great deal of patience. There are inherent risks, regulatory uncertainties, and financial challenges faced by new market entrants and established operators alike. […]

AAFCPAs Speaking at MJ Unpacked, Atlantic City

AAFCPAs Speaking at MJ Unpacked, Atlantic City

Janice O’Reilly, CPA, CGMA, Partner has been invited as a panelist on “Empowering Women: Navigating the Path to Capital” at MJ Unpacked, an event uniting cannabis retail and brand executives, license holders, and accredited investors who actively invest in the space. The event takes place April 9, 10, and 11, 2024 at the Hard Rock […]

Webinar: Cannabis ESOPs – The Industry Game Changer

Webinar: Cannabis ESOPs – The Industry Game Changer

In AAFCPAs’ recent webinar “Cannabis ESOPs: Why an ESOP is an Industry Game Changer”, David McManus, CPA, CGMA, Tax Partner & Cannabis Practice Leader and Joshua England, LLM, Esq., Partner & Tax Attorney along with Hannah King, Partner, Dentons, Mark Loyd, Partner and Co-lead of national tax practice at Dentons, and Darren Gleeman, Managing Partner, […]

TerrAscend Corp. Joins Other Operators Changing 280E Tax Position 
Featured Image for 280E Tax Position

TerrAscend Corp. Joins Other Operators Changing 280E Tax Position 

AAFCPAs would like to make cannabis clients aware that TerrAscend Corp., in its fourth-quarter earnings call, announced it would no longer be making tax payments under Section 280E of the Internal Revenue Code. The company’s Chief Financial Officer noted its legal basis in doing so comes from a legal interpretation based on a similar position […]

DEA Reconsiders Marijuana Restrictions Following Release of Scientific Review
DEA Reconsiders Marijuana Restrictions Following Release of Scientific Review

DEA Reconsiders Marijuana Restrictions Following Release of Scientific Review

AAFCPAs would like to make cannabis clients aware of a 250-page scientific review published online recently by Matthew Zorn, an attorney in Texas, after he sued Health and Human Services officials for its release. In this document, federal scientists conclude that marijuana should not be classified as a Schedule I drug. Researchers conclude that marijuana […]

AAFCPAs Invited to Speak at NECANN-Boston Convention

AAFCPAs Invited to Speak at NECANN-Boston Convention

AAFCPAs’ Vassilis Kontoglis, Janice O’Reilly, and Dave McManus have been invited to speak in two separate sessions at NECANN’s 2024 Boston Convention being held at the Hynes Convention Center in Boston, Massachusetts. 2024 Key Cannabis Topics: Rescheduling, SAFER Banking, and M&A Speakers: Dave McManus, Ronald Lipof, Melissa Maranda, J.D., and Michael Ross When: Friday, March […]

Lawsuit Returns $1.2M in Community Impact Fees to Cannabis Businesses

Lawsuit Returns $1.2M in Community Impact Fees to Cannabis Businesses

AAFCPAs would like to make Cannabis clients aware that Caroline’s Cannabis recently reached a $1.2 million settlement with the town of Uxbridge, Massachusetts contesting millions of dollars in community impact fees imposed on marijuana businesses. The lawsuit claimed that the town had not provided any documentation justifying a host community agreement (HCA) fee, which is […]