Tax Planning & Compliance
DEA Rescheduling: Recommendations for the U.S. Senate Finance Committee
Cannabis rescheduling hearings are set to begin on January 21, 2025. If successful, rescheduling will usher in multiple positive impacts on the success and viability of the industry—the most immediate (and perhaps most impactful) will be the removal of Internal Revenue Code Section 280E. AAFCPAs’ expertise was recently sought by the U.S. Treasury and Senate […]
How Life Sciences May Be Affected by New Administration Tax Policies
In this article: For clients in the life sciences, tax policies often hinge on a shifting political landscape. This means, each new administration may signal changes that could reshape strategies in the coming year and beyond. Understanding emerging policies will be key in 2025 for areas like M&A timing, R&D cost management, and structuring for […]
Webinar Recap: Tax Planning for Cannabis Operators
In this article: Navigating the cannabis industry’s complex tax landscape may feel overwhelming, especially given ongoing challenges like Section 280E and potential rescheduling. However, with the right strategies, you can reduce your tax burden, optimize cash flow, and position your brand for growth. AAFCPAs’ 2024 Cannabis Tax Update Webinar, speakers provided valuable insights on overcoming […]
Maximize Your Business Sale Value: Why Accurate Financials Matter
In this article: Businesses considering a sale, merger, Unsolicited Friendly Offer (UFO), or even a partial sale in exchange for a significant outside investment typically hear one piece of advice: Ensure your books are in order. Clean, accurate, and up-to-date financial records are essential for transaction success, particularly as prospective buyers or investors demand greater […]
Janice O’Reilly Discusses Financial Strategies for Cannabis Industry at MJ Unpacked
At the 2024 MJ Unpacked event, held November 5-7 in St. Louis, Missouri, AAFCPAs’ Janice O’Reilly, CPA, CGMA, Partner shared valuable insights with Highly Capitalized Network on navigating the complex financial landscape of the cannabis industry. MJ Unpacked is the nation’s only cannabis industry trade event with exclusive attendance for licensed operators, researchers, and investors. […]
Federal Court Temporarily Halts BOI Reporting Requirements
A federal district court in Texas has issued a nationwide preliminary injunction halting enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirements. The ruling, issued on December 3, 2024, found that the CTA likely exceeds Congress’ constitutional authority and temporarily suspends the January 1, 2025, reporting deadline for businesses. […]
Maximizing Cash Flow in the Cannabis Equity and Debt Market: Strategies for Success
In today’s challenging equity and debt market, operators must maximize cash flow through operational efficiency, tax strategy, and effective reporting. At the recent Benzinga Cannabis Capital Conference, speakers and attendees talked extensively about the constantly changing market landscape and emphasized that staying ahead demands strategic planning and execution. Cannabis Capital RaisesAccording to the Viridian Deal […]
Top Takeaways From Our 2024 Business Tax Planning Webinar
In this article: Tax planning is an essential part of business strategy, especially as we approach year-end. During AAFCPAs’ recent Business Tax Planning webinar (October 2024), speakers discussed topics that affect U.S. privately held businesses across federal, state, and international tax landscapes. This session highlighted credits, deductions, compliance challenges, and strategies that could benefit businesses […]
Top Takeaways From Our 2024 Tax Planning & Wealth Preservation Webinar
In this article: Strategic tax planning preserves wealth and ensures a lasting legacy. During AAFCPAs’ recent Individual/Family and Wealth Preservation webinar (October 2024), Jonathan Bloom, CFP®, AIF®, Joshua England, LLM, Esq., Richard Weiner, CPA, MST, CM&AA, Daniel Seaman, CPA, and Tyler Champagne, CPA, MSA shared wealth preservation insights including strategies to help optimize your tax […]