Ep. 131: Valuation Of Cannabis Companies - An Accounting Perspective The Cannabis Accounting podcast

18:31

Every month DOPE CFO founder Andrew Hunzicker, CPA covers the latest news and current events in Cannabis and CBD/hemp to help you stay in the know. Let’s see what happened in June!! If you’ve been wondering what’s going on in the world of Cannabis legislation and business but haven’t had time to catch up on all the happenings, we’ve got you covered! Tune in to our latest episode: “ What’s Smoking in Cannabis and CBD News: June 2025 Monthly Recap .”…

The Cannabis Accounting Podcast

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Ep. 171: Social Equity Programs: Financial Compliance and Reporting Requirements 8:48

14 weeks之前8:48

8:48

Social equity programs in Cannabis come with complex financial requirements that go far beyond standard business accounting. Many businesses participating in these programs struggle to meet ongoing compliance obligations, risking their licenses and partnerships. From detailed revenue sharing agreements to specific reporting requirements, social equity compliance involves financial tracking that most accountants aren't familiar with. Mistakes in documentation or reporting can jeopardize both the equity partnership and regulatory standing. Join us for an informative podcast as Andrew Hunzicker, CPA breaks down the financial compliance requirements for Cannabis social equity programs. You'll learn: - State-specific social equity financial requirements and their implications - Proper documentation and accounting for equity partnerships and revenue sharing - Ongoing reporting obligations that businesses must maintain - How to structure partnerships to meet both business and compliance goals - Common financial compliance mistakes in social equity programs - Best practices for maintaining accurate records that satisfy regulators Whether you're participating in a social equity program or advising clients who are, this session will help you navigate the complex financial landscape of Cannabis social equity compliance.…

The Cannabis Accounting Podcast

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Ep. 170: Scaling Financial Operations: From Cannabis Startup to Multi-State Operator 11:24

16 weeks之前11:24

11:24

The financial systems that work for a single dispensary or grow will break down completely as you add locations, expand to new states, or scale your production. What was once manageable with basic bookkeeping becomes a compliance nightmare as your business grows. Most Cannabis companies realize they need more sophisticated financial operations only after they've already outgrown their systems - leading to costly mistakes, reporting delays, and lost opportunities during critical growth phases. Listen in as Andrew Hunzicker, CPA shares essential strategies for scaling Cannabis financial operations successfully. You'll learn: ✅ The warning signs that your financial systems won't support your growth plans ✅ Key milestones that trigger the need for financial operations upgrades ✅ Essential systems and tools for multi-state Cannabis operations ✅ Strategies for maintaining compliance while managing rapid expansion ✅ Common financial scaling mistakes and how to avoid them Whether you're a Cannabis business leader planning for growth or an accountant serving expanding Cannabis clients, this episode provides practical guidance for navigating the complex journey from startup to sophisticated enterprise.…

The Cannabis Accounting Podcast

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Ep. 169: How to Find a Reliable Cannabis Bank 12:00

18 weeks之前12:00

12:00

Cannabis businesses can't simply walk into any bank and open an account. Most financial institutions are still too nervous about the federal implications, leaving operators stuck with high-fee relationships or worse - operating entirely in cash. When cannabis businesses do find banks willing to work with them, the fees can be outrageous and services limited. Without proper banking, you're paying premium costs for basic services while handling cash risks that threaten your business. Listen in to learn what makes a good cannabis bank and how to find one. Andrew Hunzicker, CPA will cover: Key banking requirements cannabis businesses absolutely need Red flags that signal overpriced or unstable banking relationships How to negotiate reasonable fees and terms with cannabis-friendly banks Differences between credit unions, community banks, and national institutions Essential questions to ask before signing a banking agreement Practical tips for maintaining strong banking relationships long-term Don't settle for cash-only operations or exploitative banking terms. Learn how to find and secure the banking relationship your business deserves.…

The Cannabis Accounting Podcast

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Ep. 168: Rising Costs: How Chinese Tariffs Are Squeezing Cannabis Profits 12:40

20 weeks之前12:40

12:40

Your Cannabis clients are facing unexpected cost increases they didn't budget for. Chinese tariffs are driving up prices for equipment, packaging, and hardware - hitting an industry already struggling with thin margins. With competition keeping retail prices in check, many businesses can't pass these costs to consumers. The result? Shrinking profits and tough decisions about where to cut corners. Listen in to learn how these tariffs are affecting Cannabis businesses and what you can do about it. Andrew Hunzicker, CPA will break down: How tariffs are affecting different parts of the Cannabis supply chain Ways to help clients track and manage these rising expenses Practical financial strategies to offset tariff-related costs Potential opportunities in domestic sourcing How to factor these changes into your clients' financial planning Don't let your clients get caught off guard by these changing costs. Get practical advice for helping them protect their profits in today's market.…

The Cannabis Accounting Podcast

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Ep. 167: First 30 Days - A Blueprint for Onboarding Cannabis Clients 13:09

22 weeks之前13:09

13:09

Landing high-value Cannabis clients is just the beginning. Your onboarding process sets the tone for the entire relationship and demonstrates your expertise from day one. Join Andrew Hunzicker, CPA, for this insightful episode as we reveal: How to structure the discovery process to uncover critical issues Setting clear expectations and boundaries from the start Essential documents and systems to request immediately Quick wins that demonstrate value in the first 30 days Building a permanent audit trail from the beginning Ways to prevent scope creep while maintaining high service levels Whether you're working with farms, manufacturers, or dispensaries, this episode provides a proven framework for successfully onboarding Cannabis accounting clients. Stop wondering if you're missing something crucial—learn how to protect both you and your clients while setting the foundation for a successful long-term relationship. Listen here 👉 https://creators.spotify.com/pod/profile/dopecfo/…

The Cannabis Accounting Podcast

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Ep. 166: Cannabis Cleanup Challenges - Tackling Messy Books for Cultivation Operations 12:59

24 weeks之前12:59

12:59

Inheriting a Cannabis cultivation client with messy books is like being handed a puzzle with missing pieces. No cost accounting, misallocated expenses, and inventory tracking disconnected from financial systems - these challenges can make even experienced accountants question where to start. When growers focus solely on their plants and neglect proper accounting, the resulting financial chaos not only creates tax compliance risks but prevents them from understanding their true costs and profitability. Join us as Andrew Hunzicker, CPA shares practical solutions for tackling Cannabis cultivation cleanup projects. You'll learn: Where to start when facing cultivation books in disarray How to reconstruct cost accounting when it wasn't properly tracked Strategies for reconciling seed-to-sale data with financial systems Methods for establishing accurate WIP and finished goods inventory valuations Documentation practices that protect both you and your client Implementation of systems that prevent future accounting problems Whether you're currently struggling with a cultivation cleanup or preparing to take on Cannabis clients, this episode will equip you with the roadmap and confidence to transform messy books into reliable financial information.…

The Cannabis Accounting Podcast

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Ep. 165: Investing in Cannabis: What You Need to Know to Protect Your Wealth 14:08

26 weeks之前14:08

14:08

The Cannabis industry's allure of high returns often masks the substantial personal risks investors and executives face. While early Cannabis companies like MedMen and Tilray attracted significant investment with trendy branding, their stories serve as cautionary tales of what happens when fundamental accounting, tax compliance, and entity structuring are overlooked. Today's Cannabis investors need to be armed with knowledge that goes far beyond product expertise. Join Andrew Hunzicker, CPA for this critical episode as we reveal: Critical lessons from the downfall of early Cannabis giants and how to avoid their costly mistakes How IRC 280E, 471, and other tax codes uniquely impact Cannabis business profitability The hidden liabilities of different entity structures and why choosing the wrong one could expose your personal assets Essential strategies for maximizing legal tax deductions despite stringent restrictions Multi-entity approaches that provide enhanced asset protection and investment appeal Why standard accounting systems and general practitioners often fail Cannabis businesses Whether you're considering investing in the Cannabis industry, currently serving as a company executive, or advising clients in this sector, this episode provides vital insights for protecting assets and ensuring compliance. Learn how proper structuring, accounting, and tax strategies can mean the difference between success and financial disaster in this highly regulated industry.…

The Cannabis Accounting Podcast

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Ep. 164: Hidden Liabilities: What Cannabis Investors & CEOs Need to Know Before It's Too Late 20:17

28 weeks之前20:17

20:17

The Cannabis industry's allure of high returns often masks the substantial personal risks investors and executives face. While early Cannabis companies like MedMen and Tilray attracted significant investment with trendy branding, their stories serve as cautionary tales of what happens when fundamental accounting, tax compliance, and entity structuring are overlooked. Today's Cannabis investors need to be armed with knowledge that goes far beyond product expertise. Listen in as we reveal: ✅ Critical lessons from the downfall of early Cannabis giants and how to avoid their costly mistakes ✅ How IRC 280E, 471, and other tax codes uniquely impactCannabis business profitability ✅ The hidden liabilities of different entity structures and why choosing the wrong one could expose your personal assets ✅ Essential strategies for maximizing legal tax deductions despite stringent restrictions ✅ Multi-entity approaches that provide enhanced asset protection and investment appeal ✅ Why standard accounting systems and general practitioners often fail Cannabis businesses Whether you're considering investing in the Cannabis industry, currently serving as a company executive, or advising clients in this sector, this session provides vital insights for protecting assets and ensuring compliance. Learn how proper structuring, accounting, and tax strategies can mean the difference between success and financial disaster in this highly regulated industry. #DOPECFO #CannabisAccounting #CannabisPolicy…

The Cannabis Accounting Podcast

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Ep. 163: Trump-era Policy Impact on the Cannabis Industry and Compliance 16:44

30 weeks之前16:44

16:44

The Cannabis industry faces a pivotal moment as the Trump administration takes control of critical policy decisions. In this essential episode, DOPE CFO Founder, Andrew Hunzicker, CPA, analyzes how campaign promises might translate to administrative action and what it means for Cannabis businesses nationwide. Learn crucial insights about: Trump's Cannabis policy positions Potential impact of key agency appointments Strategic approaches during policy transitions Implications of the paused rescheduling process Risk assessment strategies for Cannabis operations Compliance considerations under changing regulations Position your Cannabis business to navigate policy shifts successfully regardless of the new administration's direction. Follow The Cannabis Accounting Podcast for expert guidance on Cannabis industry compliance and strategy. #DOPECFO #CannabisAccounting #CannabisPolicy…

The Cannabis Accounting Podcast

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Ep. 162: A Deep Dive Into the Rescheduling Chaos with NCIA’s Aaron Smith 41:55

32 weeks之前41:55

41:55

The Cannabis industry stands at a pivotal moment as multiple reform paths converge. From state-level progress to federal rescheduling efforts, understanding the complex landscape is crucial for industry professionals. Recent developments in the DEA rescheduling hearings have created both uncertainty and opportunity, making it essential to stay informed and engaged. Join DOPE CFO's Andrew Hunzicker and NCIA CEO Aaron Smith as they break down: Latest updates on the DEA rescheduling hearing cancellation and its implications How recent administrative changes could impact Cannabis reform efforts Multiple pathways to federal reform and their current status Strategic opportunities for industry engagement in reform efforts Role of industry professionals in advancing positive change Critical insights into state-level developments and federal policy interactions Whether you're a Cannabis accountant, operator, or industry advisor, this episode provides essential context for understanding current reform efforts and opportunities for engagement. Learn how recent developments affect your business and how to participate in shaping the industry's future.…

The Cannabis Accounting Podcast

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Ep. 161: Understanding the IRS' Latest Warning to Cannabis Companies 14:28

34 weeks之前14:28

14:28

The IRS has just issued a critical warning about Cannabis companies attempting to circumvent 280E through Form 8275 disclosures using a variety of rationales that do not constitute a reasonable basis. This development might require immediate attention from Cannabis operators and their accountants. Join DOPE CFO Founder & CEO Andrew Hunzicker, CPA for this podcast to understand: Why Form 8275 is not a "free pass" to avoid 280E limitations What constitutes a "reasonable basis" for disclosure The risks of using Form 8275 incorrectly Recent IRS enforcement priorities for Cannabis businesses Other guidance that goes against IRS guidance that could cause penalties As the IRS ramps up enforcement, it's crucial to understand the proper application of tax regulations. Learn how to protect your Cannabis clients while maintaining strict compliance with 280E requirements. Whether you're currently serving Cannabis clients or planning to enter the industry, this episode will provide critical insights on navigating the latest IRS guidance.…

The Cannabis Accounting Podcast

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Ep. 160: Cleanup & 280E Refund Preparation 28:02

38 weeks之前28:02

28:02

The Cannabis industry stands at a historic crossroads with potential 280E tax relief on the horizon. In this essential episode, DOPE CFO Founder, Andrew Hunzicker, CPA, reveals why most Cannabis businesses aren't prepared for this massive opportunity and what they must do now to get ready. Learn step-by-step guidance for: - Building proper financial infrastructure - Implementing documentation systems - Managing audit risks - Preparing for refund opportunities - Understanding timing considerations - Protecting against common pitfalls Position yourself as a trusted advisor in the Cannabis industry by mastering these critical preparation strategies. Follow The Cannabis Accounting Podcast for expert guidance on Cannabis industry compliance and strategy. #DOPECFO #CannabisAccounting #280E…

The Cannabis Accounting Podcast

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Ep. 159: Maximizing Opportunities at Cannabis Events 12:38

40 weeks之前12:38

12:38

🌿 Maximizing Opportunities at Cannabis Events Transform your Cannabis accounting practice through strategic event participation! In this episode, we break down how showing up at industry events can elevate you from a regular attendee to a recognized expert in the Cannabis accounting space. Learn proven strategies to: Position yourself as a trusted advisor in the Cannabis industry Secure and nail speaking opportunities Make meaningful contributions to industry organizations Build authentic relationships with Cannabis CEOs and investors Convert event connections into long-term client relationships Perfect for accountants who prefer working behind the scenes but want to grow their Cannabis practice. Discover why in-person industry involvement is your most powerful marketing tool! #CannabisAccounting #DOPECFO #CannabisIndustry #AccountingPodcast…

The Cannabis Accounting Podcast

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Ep. 158: How Hemp Beverages Are Revolutionizing the Cannabis Market 30:01

42 weeks之前30:01

30:01

Join us for an exciting dive into the world of hemp beverages with Christopher Lackner, founder of the Hemp Beverage Alliance. In this episode, we unpack the rapid evolution of Cannabis-infused drinks, exploring how they're transforming the adult beverage landscape. Christopher shares insights into the industry's technological innovations, regulatory challenges, and the collaborative spirit driving hemp beverage development. Discover: ✓ How hemp beverages are becoming a game-changing alternative to traditional alcohol ✓ The technological breakthroughs making these drinks shelf-ready ✓ Why craft brewers are entering the hemp beverage market ✓ The potential for interstate commerce and market expansion ✓ How these beverages are normalizing Cannabis consumption Whether you're a Cannabis industry professional, a curious consumer, or someone interested in emerging beverage trends, this episode offers a comprehensive look at the future of drinking. Get ready to challenge your assumptions and learn about the exciting world of hemp beverages!…

The Cannabis Accounting Podcast

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Ep. 157: From Failure to Finance - How Credit Scores Are Revolutionizing Cannabis Business Lending 24:12

44 weeks之前24:12

24:12

Join Raymond Guns, CPA and Chief Revenue Officer at DOPE CFO, as he interviews Dotan Melech, CEO of CTrust, about revolutionizing Cannabis industry financing through standardized credit scoring. Learn how CTrust analyzes over 1,700 data points across 42 business categories to help Cannabis companies access better financing terms and manage risk more effectively. Discover why traditional credit scoring hasn't existed in Cannabis until now, and how this innovation could transform the industry's financial landscape. Key topics covered include: ✓ How CTrust developed its revolutionary credit scoring system ✓ The impact of state-specific regulations on business credit ratings ✓ Ways Cannabis companies can improve their credit scores ✓ The relationship between credit scores and cost of capital ✓ How rescheduling could affect industry financing ✓ The role of credit scoring in the industry's maturation The episode provides valuable insights for Cannabis business owners, investors, and financial professionals looking to understand the evolving landscape of Cannabis industry financing and risk assessment.…

The Cannabis Accounting Podcast

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Ep. 156: Mastering the Remote Cannabis Accounting Practice: Beyond the CPA Skillset 18:30

46 weeks之前18:30

18:30

Master the fundamentals of running a successful remote Cannabis accounting practice with industry expert Andrew Hunzicker, CPA. In this essential episode, discover the business strategies and systems you need to complement your technical expertise and build a thriving virtual practice. Learn how to: ✔️ Maintain peak productivity in a remote environment ✔️ Implement systems for consistent service delivery ✔️ Market your practice effectively to Cannabis clients ✔️ Build and manage virtual client relationships ✔️ Position your practice for sustainable growth Whether you're transitioning to remote work or looking to optimize your existing virtual practice, this episode provides the practical guidance you need to succeed in Cannabis accounting.…

The Cannabis Accounting Podcast

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Ep. 155: Cannabis Tax Insights on Reform and Refunds from 2024 AICPA with Andrew Livingston 1:04:02

48 weeks之前1:04:02

1:04:02

Our guest today is Andrew Livingston. Andrew is the Director of Economics and Research at Vicente LLP. Vicente LLP is a top-ranked national cannabis law firm providing legal and policy services to marijuana and hemp companies, psychedelics companies, ancillary businesses, investors, governmental bodies, and advocacy organizations. As the firm's director of economics and research, Andrew assists clients with developing and expanding their enterprises across cannabis markets nationally and internationally. A wide variety of marijuana and hemp businesses look to Andrew for help navigating the regulatory intricacies that influence market dynamics, as well as to create sophisticated revenue models and pro forma for investors and to guide strategic decision-making. Andrew recently spoke at AICPA in August of 2024 where he discussed the major economic issues facing state-regulated cannabis businesses and what to expect with potential future rescheduling and market expansion. Tune in as cannabis economics expert Andrew Livingston breaks down the business of marijuana and what's next for this growing industry.…

The Cannabis Accounting Podcast

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Ep. 154: How to Charge for Capital-Raising Services 18:48

50 weeks之前18:48

18:48

The pressure is on. Your Cannabis clients are counting on you to guide them through the capital raising process, but one misstep could jeopardize their future. Choosing the wrong funding type, overlooking critical documentation, or failing to plan for expenditures are common mistakes people unfamiliar with this industry make when attempting to raise and manage cash. But it doesn't have to be this daunting. With the right approach, you can confidently offer capital-raising services that provide immense value to your clients while ensuring you're fairly compensated. Cannabis finance expert Andrew Hunzicker, CPA, reveals: How to structure comprehensive capital-raising services for Cannabis clients Strategies for determining the optimal funding type and preparing robust documentation to increase approval and funding odds Approaches to ongoing financial modeling and capital expenditure planning Multiple pricing models to ensure you're compensated fairly for your expertise Tips for positioning yourself as an indispensable partner in your client's growth journey Don't let uncertainty hold you back from offering this vital service. Tune in to unlock the strategies you need to excel in Cannabis capital raising.…

The Cannabis Accounting Podcast

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Ep. 153: Navigating Accounting Discrepancies in Cannabis - Compliance, Prevention, and Resolution 16:00

1 year之前16:00

16:00

Missing cash. Unaccounted expenses. Vanishing inventory. In the Cannabis industry, these aren't just minor bookkeeping errors – they're ticking time bombs that can obliterate your business's compliance, credibility, and bottom line. Ignoring or glossing over these issues isn't an option. Cannabis companies operate under intense scrutiny, and the consequences of mishandling discrepancies can be severe. But how do you address these problems compliantly without derailing your operations? Join us for this critical podcast: " Navigating Accounting Discrepancies in Cannabis: Compliance, Prevention, and Resolution " with Andrew Hunzicker, CPA and Cannabis accounting expert. In this no-holds-barred session, we dive into: The real risks of unresolved accounting discrepancies in the Cannabis industry Step-by-step protocols for addressing missing cash, unaccounted expenses, and inventory gaps Proactive strategies to prevent discrepancies before they occur How to maintain ironclad documentation that satisfies even the strictest regulators Building a culture of accuracy and accountability in your Cannabis operation Don't let accounting discrepancies threaten your Cannabis business's future. Arm yourself with the knowledge and strategies to tackle these issues head-on and keep your operation running smoothly and compliantly. Tune in and transform your approach to Cannabis accounting accuracy.…

The Cannabis Accounting Podcast

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Ep. 152: Providing Capital Raising Services to Cannabis Companies 18:22

1 year之前18:22

18:22

Cannabis companies need capital to grow. As their trusted advisor, are you prepared to help them get it? Many accountants struggle to structure, price, and sell capital raising services to Cannabis clients because they've... Never done it. Don't know how to do it. Aren't aware of the crucial role that they play in helping companies proactively stay capitalized enough to fund future endeavors and whether the turbulent storms of the industry. But with the right approach, you can become an indispensable partner in your clients' growth journey. In this episode, you'll learn: How to package and price capital raising services for Cannabis clients Effective strategies to pitch these services and demonstrate their value Key considerations for Cannabis fundraising that set you apart from generalist accountants Techniques to guide clients through the due diligence process investors demand The importance of maintaining connections with investors and potential providers for your clients. Don't let uncertainty hold you back from offering this vital service. Expand your expertise, grow your practice, and become the go-to CFO for ambitious Cannabis companies.…

The Cannabis Accounting Podcast

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Ep. 151: Compliant Rock Solid Live Inventory Counts 16:01

1 year之前16:01

16:01

With the Cannabis industry constantly changing, staying on top of the latest compliant inventory practices can feel untenable. Unfortunately, failing to remain compliant can lead to disastrous financial and legal repercussions for your client, your business, and your reputation. If you are struggling to navigate inventory compliance, you are not going to want to miss our latest podcast “ Compliant Rock Solid Live Inventory Counts ." Led by DOPE CFO Founder, Andrew Hunzicker, CPA, learn directly from Andrew as he shares his expert insights and strategies on maintaining accurate inventory compliance. During this podcast, you will learn: Internal Revenue Code 471 and how to stay compliant Best practices, tools, and workpapers for successful inventory accounting Compliant inventory count practices and procedures RC 471-2 Lower of Cost or Market considerations along with tools and processes for cost accounting Legal and financial liabilities for mismanaged inventory And so much more… Whether you are looking for help understanding inventory compliance or searching for tools to effectively better manage inventory, this podcast will guide you through the intricacies of inventory compliance accounting. Don’t let poor inventory accounting practices jeopardize your business! Tune in and equip yourself with compliant best practices to drive your business’ growth in the Cannabis industry.…

The Cannabis Accounting Podcast

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Ep. 150: Building a Powerhouse Accounting Team for Vertically Integrated Cannabis Companies 16:56

1 year之前16:56

16:56

Vertically integrated Cannabis companies have complex accounting needs that span multiple entities and require a team of specialists to ensure compliance and optimal financial performance. Trying to handle it all alone can lead to burnout, missed opportunities, and costly mistakes. 😰 But building an accounting team that can effectively serve these clients feels like a daunting task, especially for solo firms or small practices. How do you know which roles to hire for? What's the right balance between in-house and outsourced talent? 🤔 Get answers to these critical questions and more in our latest podcast. In this practical, hands-on episode, Andrew Hunzicker, CPA and Cannabis accounting expert, lays out a proven blueprint for assembling a lean, efficient team that can handle the complex needs of vertically integrated clients. You'll walk away with: Clarity on the essential roles you need to cover, from day-to-day accounting to CFO-level strategy A practical framework for deciding when to hire vs. outsource key functions Proven strategies for managing cash flow, profitability, and compliance across multiple entities Don't let the fear of building a team hold you back from pursuing large, lucrative clients in the Cannabis space. Listen in to gain the confidence and practical guidance you need to assemble a powerhouse accounting team that can handle even the most complex vertically integrated businesses.…

The Cannabis Accounting Podcast

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Ep. 149: Real Estate Strategies for Cannabis Businesses: Navigating Leases, Ownership, and Taxes 15:52

1 year之前15:52

15:52

Navigating real estate decisions for your Cannabis business is a complex process with no one-size-fits-all solution. Whether you're setting up a cultivation facility, manufacturing plant, or dispensary, understanding the pros and cons of leasing vs. owning and the tax implications of each is crucial to making informed decisions that align with your unique goals and circumstances. 🌿💡 Leasing may offer more flexibility and lower upfront costs, but it also means you're at the mercy of a landlord and may face unexpected rent hikes or even eviction. Owning your property provides long-term stability and control, but it also requires significant capital investment and ties up your cash flow. 💸 The stakes are high, and with so many factors to consider, it's easy to feel overwhelmed. But by arming yourself with the right knowledge and strategies, you can confidently navigate the Cannabis real estate landscape and make choices that set your business up for success. 💪 Listen in to this informative podcast, "Real Estate Strategies for Cannabis Businesses: Navigating Leases, Ownership, and Taxes," as Andrew Hunzicker, CPA and Cannabis accounting expert, breaks down the key considerations for Cannabis real estate and provide actionable insights to help you make decisions that fit your unique needs. You'll learn: The advantages and disadvantages of leasing vs. owning Cannabis real estate Factors to consider when choosing a location and property type for your operation Tax planning strategies and potential pitfalls associated with Cannabis real estate Whether you're a cultivator, manufacturer, or retailer, this session will provide you with the tools and knowledge you need to develop a real estate strategy that supports your business goals and minimizes risk. Don't let uncertainty around real estate hold you back. Tune in and gain the clarity and confidence you need to make informed decisions for your Cannabis venture.…

The Cannabis Accounting Podcast

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Ep. 148: Understanding Financial Modeling for Cannabis Business Success 22:10

1 year之前22:10

22:10

There are two reasons why cultivators need proper financial modeling: For licensing. Most states require some form of a plan that illustrates that you understand what your operating costs will be and that you have enough capital to fully fund operations. For investors and operators alike, modeling is incredibly important to ensure that there is a plan for a successful outlook for the business based on actual information and experience vs guessing. But creating a comprehensive financial model for a Cannabis business is no easy task. From understanding the true costs of cultivation to navigating complex regulations and market fluctuations, there are countless factors to consider. Overlooking key details or making overly optimistic assumptions can lead to missed targets, cash flow problems, and disappointed investors. In this episode, Andrew shares the essential considerations and tools needed for creating robust, realistic financial models that can help you navigate the unique challenges of the Cannabis industry. During this podcast, you'll learn: The critical importance of understanding best-case, worst-case, and realistic scenarios in your financial projections Key factors to consider when modeling the true costs of Cannabis cultivation, processing, and distribution How to account for often-overlooked expenses and potential roadblocks to profitability Strategies for building flexibility into your financial model to adapt to changing market conditions and regulations The vital role of understanding Cannabis grow cycles and industry-specific metrics for accounting professionals ... and more! Whether you're a Cannabis entrepreneur looking to create a solid financial foundation, an investor aiming to make informed decisions, or an accounting professional seeking to better serve your Cannabis clients, this podcast is packed with valuable insights you won't want to miss.…

The Cannabis Accounting Podcast

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Ep. 147: Schedule I & III Compliant Inventory Accounting for Cannabis Companies Webinar 39:42

1 year之前39:42

39:42

In order to do proper inventory and cost accounting, accountants must have the proper processes and systems in place to meet compliance rules. Since Cannabis is considered a Schedule I substance, under 280E companies that sell or “traffic” the plant are not able to take deductions like typical businesses can. However, the DEA is on the verge of rescheduling the drug to Schedule III which eases the tax burden of 280E, and can create more complexities for Cannabis companies and the accountants that serve them. In our latest episode, we discuss the ins and outs of cost accounting and compliance for the current landscape of the Cannabis industry, and what’s to expect when the plant inevitably gets rescheduled by the DEA. We cover concepts that include: Inventory accounting best practices, tools, workpapers, and procedures IRC 471-2 Lower of Cost or Market considerations Compliant inventory count procedures Cultivation and manufacturing cost accounting considerations (how to find the cost to grow a pound of weed or gram of oil) Dispensaries and IRC 471-3 …and more!…

The Cannabis Accounting Podcast

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Ep. 146: How to Earn More and Work Less an Accountant 35:38

1 year之前35:38

35:38

Our guest on today's episode of the DOPE CFO Podcast is Alyssa J. Dillon. Alyssa is a former CFO that managed the accounting for non-profits. After quitting her job in 2018 with $1000 to her name, and after having two children in one year, she had to figure out what to do, and working for someone else wasn't the answer. Within a few short months, Alyssa was bringing in clients and making over $25k/month and hasn't stopped. Fast forward to today, she's helping (non-cannabis) accountants quickly build thriving firms using the systems and practices that she's employed that have helped her become successful.…

The Cannabis Accounting Podcast

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Ep. 145: DEA Agrees to Reschedule Cannabis 18:23

1 year之前18:23

18:23

Sources within the DEA have confirmed that rescheduling has been green-lit and is moving forward. Speculators have been saying that this wouldn’t happen until after the election, but it looks as though things are moving quicker than critics have been suggesting. So what does this mean for Cannabis companies and the people who serve the industry? We go over the details in our latest episode. With 280E out of the picture, there is a massive opportunity to support Cannabis companies in a major way.…

The Cannabis Accounting Podcast

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Ep. 144: How Accounting and Taxes Will Change When Cannabis is Rescheduled 36:46

1 year之前36:46

36:46

The Associated Press just announced that DEA has agreed to reschedule Cannabis, which is going to usher in all sorts of change. Unfortunately, a lot will stay the same, and things are inevitably going to become much more complicated from a compliance standpoint. On the one hand, 280E won’t be so punitive, but taxes will still be high, and accounting will be even more challenging. Don’t get blindsided by what’s to come. In our latest podcast, DOPE CFO CEO and founder, Andrew Hunzicker, CPA discusses "How accounting and taxes will change when Cannabis is Rescheduled." He shares information on: How rescheduling affects raising capital The more complex tax returns Valuation considerations as rescheduling happens …and more! Tune in and take notes so you don't get left behind by the massive changes ahead in this industry.…

The Cannabis Accounting Podcast

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Ep. 143: Changes in Cannabis Law and Accounting in 2024 32:19

1 year之前32:19

32:19

Our guests today are Rachel Gillette and Jennifer Benda. They are partners at Holland & Hart LLP and work in the group’s Cannabis Division. Holland & Hart LLP is a national law firm who serve a wide range of industries. Our guests today are both partners in the Holland & Hart’s Cannabis Division. The emerging cannabis legal sector faces novel legal challenges and complexities. They help cannabis businesses cut through the complexity. Their team guides clients with ensuring operational compliance and in building creative solutions and productive relationships with state, local, and federal authorities. Their tailored approach helps cannabis and natural medicine businesses, stakeholders, and ancillary service providers analyze risks and chart a strategic course in the dynamic Cannabis industry. Listen as they discuss upcoming changes in Cannabis law and how they will impact Cannabis accountants.…

The Cannabis Accounting Podcast

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Ep. 142: Management Training for Cannabis Accounting Firm Owners 13:24

1 year之前13:24

13:24

New entrepreneurs have a lot to look forward to that they often don’t realize until they are knee deep in their new venture and find that there are certain skills and competencies that may be lacking that can hurt their progress. Everything about how you approach your work has to shift, yet some people carry their employee mindset and practices into self-employment which can create all sorts of problems that can be blindsiding. If you are thinking about stepping out on your own for the first time, listen in as we discuss the shifts that new Cannabis Accounting firm owners need to make in order to build successful businesses. In this episode, we discuss: The importance for developing systems and processes Understanding the value of your time (8 hour days look different and can quickly turn into 15 hour days if you’re not careful) Managing expectations of yourself and your clients There’s so much that gets added to your plate as you set out to build a growing business. Make life easier by knowing what’s ahead. Listen in so you can learn how to solve for it so that you are prepared.…

The Cannabis Accounting Podcast

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Ep. 141: Dealing with Burnout During Tax Time w/ Lauren Baptiste 36:21

1 year之前36:21

36:21

On today's episode, we are excited to welcome Lauren Baptiste, the founder and CEO of Acheloa Wellness. Lauren Baptiste is a corporate burnout turned coach and CEO. She serves ambitious women professionals as their go-to Burnout Expert. Before launching Acheloa Wellness, Lauren spent 13 years as a top performer at a Big Four Accounting Firm. She was always at the top of her earning bracket and was nominated a “Rising Star'' in the industry. However, her professional drive eventually landed her in the Emergency Room from workplace burnout. Lauren notes that it was the ultimate test of how hard she was willing to work for her career. Since then, she’s successfully guided hundreds of professional women through similar challenges at work and home. She offers a path to achieve your personal and professional goals without succumbing to burnout. In this episode, Andrew and Lauren discuss: Lauren's story and how burnout landed her in the hospital How Lauren founded a new company while applying the lessons she learned from burnout Common symptoms of burnout Strategies for accountants and business owners to avoid burnout (while being massively successful) How to find calm amidst the chaos of our busiest seasons at work How women can find balance in their life and still achieve their career aspirations Lauren shared this guide to setting healthy boundaries for our listeners. If you'd like to learn more about Lauren and her work, you can visit her website and connect with her on social media (Instagram and LinkedIn ).…

The Cannabis Accounting Podcast

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Ep. 140: Value Pricing vs. Hourly for Cannabis Accounting Services 12:13

2 years之前12:13

12:13

In this episode of the DOPE CFO Cannabis Accounting Podcast, Andrew Hunzicker, CPA dives deep into the debate of value pricing versus hourly billing for Cannabis accounting services. Andrew argues that in today's competitive landscape, accountants must move beyond basic bookkeeping, payroll, and tax prep services to provide real value to clients. As AI and offshore labor continue to commoditize traditional accounting tasks, the key to thriving in the Cannabis niche is to become an indispensable, full-service CFO. Andrew shares strategies for specializing deeply in the unique challenges of the Cannabis industry, from navigating complex regulations to managing rapid growth. You'll learn how to provide CFO-level advisory services that go beyond mere number crunching, how to become your client's trusted right hand, and how to continuously raise your fees to match the value you deliver. Andrew also discusses the importance of having a robust set of Cannabis-specific tools, work papers, and best practices, as well as tapping into a community of industry experts. If you're an accountant looking to break into the exciting world of Cannabis accounting or take your existing practice to the next level, this episode is a must-listen. Tune in now and discover how to ditch the hourly grind and build a thriving, value-focused cannabis accounting business.…

The Cannabis Accounting Podcast

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Ep. 139: A Look at 2024 Rescheduling: Brace for Impact 27:43

2 years之前27:43

27:43

Massive changes are coming that could rock the Cannabis industry to its core. With Cannabis potentially being rescheduled in 2024, huge shifts are on the horizon that will transform the landscape: ● Company valuations poised to rise 5-10 times ● Increased access to banking, commercial lending, and bankruptcy protection ● Potential overhaul of interstate commerce, research, and new Cannabis medicines ● Complex effects on taxes, regulations, and local businesses Whether you are an investor, business owner, accountant, or looking to enter the industry, you'll need the facts on what rescheduling and descheduling Cannabis will actually mean. Get the exclusive insights from Cannabis accounting expert Andrew Hunzicker, Founder and CPA, during this timely podcast epsiode where you'll discover: ● What rescheduling would actually mean—hint: higher company valuations ● The immediate and long term impacts across the industry landscape ● Exactly how to position your business or investments now for massive growth…

The Cannabis Accounting Podcast

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Ep. 138: The Cannabis, CBD, & Hemp Industry: 2023 In Review & Looking Ahead to 2024 44:01

2 years之前44:01

44:01

As 2023 drew to a close, monumental shifts across the Cannabis landscape set the stage for an epic 2024. Tune in as we provide an exclusive year in review for 2023, analyzing the developments in policy, business, and finance that will shape the future of the industry in 2024 and beyond. We’ll discuss insights on: New states that legalized and their market potential The latest federal reform efforts in Congress post-midterms, including the prospect of of federal legalization and what that means for the industry at large Recap of the deals and trends that defined cannabis in 2023 Our projections for 2024 Whether you are an investor or operator, this podcast will equip you with our expert predictions of the trends ready to catalyze industry growth in 2024 and beyond.…

The Cannabis Accounting Podcast

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Ep. 137: How to Access Capital in the Cannabis Industry w/ David Cunic 49:27

2 years之前49:27

49:27

On today's episode, we are excited to welcome Dr. David Cunic, the CEO of UCS Advisors. David is a physical therapist turned Investor Relations and Networking Expert, particularly specializing in the Cannabis Industry and Healthcare Sector. With over 18 years in the medical field and an impressive entrepreneurial track record of starting over 10 companies, leading seven Cannabis businesses in the U.S., he has become an inspiration for entrepreneurs and business owners. His academic foundation in physical therapy and healthcare management, combined with his hands-on experience in business development and capital fundraising, has positioned him as a pivotal figure for Cannabis companies aiming to reach new heights of success. In today's episode, David and Andrew discuss: How he went from physical therapy to working in investor relations His experience with entrepreneurship and how he started working in Cannabis How to build an effective pitch deck and what to avoid when presenting to investors Current trends in investor markets and what has changed in recent years How accountants can help their clients achieve greatness in business and how to build confidence while raising capital in Cannabis Dive right in with our much anticipated conversation with Dr. David Cunic.…

The Cannabis Accounting Podcast

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Ep. 136: Weathering the Storm: Navigating the Cannabis Downturn 11:14

2 years之前11:14

11:14

With cannabis sales in a historic slump, companies are struggling with dwindling cash flows and tough decisions. In this episode, founder and CEO of DOPE CFO Andrew Hunzicker, CPA outlines smart strategic moves for staying afloat. He'll cover: How to determine your cash runway and optimal sources of capital in a restricted funding environment. What costs must be cut vs. defensive investments to retain core capabilities. Perspectives on assessing if it's time to wind down or exit altogether. How to plan for the worst, yet operate with the best case scenario in mind. Whether you're a cannabis entrepreneur or investor, this podcast will equip you with practical tips for managing through the downturn, so you can position your company to thrive once the market recovers. The future of the industry is bright, but selectivity and savvy strategy are key to endure short-term storms.…

The Cannabis Accounting Podcast

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Ep. 135: Leveraging the VIP Method to Become a 6-Figure Success w/ Erica Sloan 24:06

2 years之前24:06

24:06

In our latest episode of the DOPE CFO podcast, Andrew Hunzicker, CPA, Founder and CEO of DOPE CFO, talks with Erica Sloan, They spotlight her transformative journey as she’s successfully leveraged the DOPE CFO Certified Advisor Program and its VIP method to become a leading figure in Cannabis accounting and quickly built a 6-figure practice.. They discuss how the VIP method of the DOPE CFO Certified Advisor Program was pivotal in her rapid climb to a 6-figure Cannabis accounting practice. We'll take a deep dive and unpack the VIP system of becoming a valuable professional expert, instructor, and participant—that empowered Erica to move beyond traditional accounting barriers, land long-term, high-paying clients, and carve out a success niche in the Cannabis industry. Through Erica's success story, we shed light on the proven route for other accounting professionals to build long-term client relationships and achieve sustainable success. Listen in to get insight on proven methods for building a 6-figure accounting practice.…

The Cannabis Accounting Podcast

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Ep. 134: Top Keys to Raising Capital in the Cannabis/CBD/Hemp Niche 1:04:51

2 years之前1:04:51

1:04:51

Cannabis and hemp/CBD are both nearing $1 billion markets in several states. In a few short years, both Cannabis and hemp/CBD could overtake the $250 billion alcohol market, skyrocketing to possibly $1 trillion by 2027 (estimate from Merida Capital). Interested investors are watching these markets. Preparing startups now to raise capital could help your clients stake a substantial claim in this booming industry. Accounting professionals can learn how companies raise capital and add immense value to their services by helping startups and growing businesses appeal to investors for funding. On our latest podcast, we share insights from our CEOs years of working as an accountant in the cannabis space.…

The Cannabis Accounting Podcast

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Ep. 133: Accountants - Master Cannabis Cultivation Science to Unlock Hidden Profits w/ Wally Daniel, MS 54:37

2 years之前54:37

54:37

There’s hidden profit in Cannabis cultivation, and you can find it if you’re a trained accounting professional that understands the science. In our latest podcast episode, Andrew Hunzicker, CPA and special guest Wally Daniel unpack the intricate world of commercial Cannabis cultivation. With decades of combined horticulture, lean manufacturing, and accounting experience, Wally has been an integral asset to many successful Cannabis ventures. Wally and Andrew cover a lot during the podcast including… The grow cycle from propagation to harvest Key metrics for operational efficiency and cost management Realistic financial modeling Improving product quality Appropriate software tools and… Value proposition of working closely with specialists like himself and properly trained accountants This episode is essential listening for CPAs aiming to provide maximum value to their Cannabis farm clients through granular cost accounting, benchmarking, and identifying profit optimization opportunities. Roll up your sleeves for an in-depth discussion among the top professionals in the industry!…

The Cannabis Accounting Podcast

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Ep. 132: The Ins & Outs of Categorizing Inventory for Cannabis Companies 1:02:03

2 years之前1:02:03

1:02:03

Are you navigating the complexities of Cannabis inventory accounting? Properly handling your clients' inventory is critical in this rapidly growing industry — one error can mean the difference between adding value or harming a business’ bottom line. Tune into our next episode where we'll cover all the critical processes and best practices accountants need to utilize.. We’ll dive deep into the essential elements required for effective inventory accounting and discuss the seed to sale process, Internal Revenue Code 471, and introduce important practices to set yourself apart in this niche. You’ll learn about cost accounting tools and processes, tackle specifics for delivery and lab subniches, and understand the art of cost determination, including how to discern fixed versus variable costs. This episode offers accountants a great opportunity to sharpen their skills and gain vital insights, enabling them to provide exceptional value and drive the success of their Cannabis business clients. Tune in!…

The Cannabis Accounting Podcast

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Ep. 131: Valuation of Cannabis Companies - An Accounting Perspective 58:46

2 years之前58:46

58:46

Got questions on valuation in the Cannabis industry? Get answers in our latest podcast! We cover everything from explaining what valuation is to delving into different valuation methods and the factors that affect valuation. We even discuss how to ask your clients the right questions to ensure you take a suitable approach to helping them meet their business goals and objectives. When you understand the different kinds of valuations and know what it takes to support your clients’ top-level needs, you can provide the World Class service that sets you apart from the rest. Here are just a few of the key uses of valuation we’ll be covering: Raising capital for startups Existing company needing a bank loan M&A support for sale of existing company Litigation: among partners, co-founders, investors, divorces, and more Tax and estate planning Join DOPE CFO founder and leading Cannabis accounting expert Andrew Hunzicker, CPA, for this podcast: “Valuation of Cannabis Companies - An Accounting Perspective.” Our latest podcast is chock full of valuable information you can’t get anywhere else, so listen in and prepare to take notes.…

The Cannabis Accounting Podcast

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Ep. 130: 3 Myths Cannabis Business Owners Believe About Accounting 13:00

2 years之前13:00

13:00

The Cannabis industry is ablaze with myths that could leave business owners burned, especially when it comes to the tricky world of accounting and bookkeeping. As an accounting pro, are you ready to fan the flames of truth and help your clients soar without getting singed? Debunking common misconceptions allows you to better serve your clients, keeping their businesses both compliant and profitable. Slip-ups in tax codes, or getting twisted up in regulations? Time to clear the smoke. ☁️ 🟢 Myth #1 - Cannabis companies don’t need complex cost accounting processes, a permanent audit trail, proper support, or tax liability relief via 471-11. — Falling for this one could cost your clients major tax deductions and land them in hot water with the IRS. 🟢 Myth #2 - We can handle all of the regulatory compliance issues in-house. — Believing in this myth negates the complexity of the industry, leaving your clients susceptible to fines, penalties, loss of licenses, and possibly criminal charges. 🟢 Myth #3 - Just because a Cannabis business has high revenue, their net income must be high as well — Reality check! This illusion overlooks the massive operational costs, regulatory compliance expenses, and unique challenges businesses face in the industry. Listen to our latest podcast episode, 3 Myths Cannabis Business Owners Believe About Cannabis, to hear DOPE CFO Founder Andrew Hunzicker, CPA, smoke out these myths, keeping your knowledge fresh and your clients thriving. Don’t miss this opportunity to sharpen your industry expertise!…

The Cannabis Accounting Podcast

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Ep. 129: Cannabis CEO’s Guide To Cash and Cash Flow Forecasting 41:52

2 years之前41:52

41:52

Until the SAFE Banking Act passes, the number of banks across the country that will service the Cannabis industry remains desperately low. Cannabis is currently classified as a Schedule 1 drug, and most banks won’t do business with Cannabis companies because of this. Not being able to open payroll or checking accounts (or borrow money to scale their business) leads most Cannabis businesses to constantly have massive amounts of cash on-hand. Cannabis businesses have to watch their cash flow very closely if they want to stay in business. Most companies are flying blind and making purchasing decisions based on what they see in the safe (or in the bank account if they are lucky enough to be able to open one). Relying on the cash you have in-hand, rather than the business’ cash flow, can make it difficult to properly plan and forecast payroll and pay taxes. Paying taxes with big bags of cash is not only a terrible business practice, but it leaves them more vulnerable to theft or burglary. We invite you to tune in to our latest podcast episode, Cannabis CEO’s Guide To Cash and Cash Flow Forecasting, to learn more about how having cash controls in place will not only make Cannabis companies safer, but also more efficient . DOPE CFO Founder Andrew Hunzicker, CPA covers: 🟢 What cash flow is, and why it’s important to your success. 🟢 Cash controls, and how to make sure you protect this crucial asset. 🟢 How to properly project cash flow. 🟢 Tools you need to manage cash flow. 🟢 Ways to improve cash flow. …and more!…

The Cannabis Accounting Podcast

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Ep. 128: How to Properly Adhere to 280E to Reduce Tax Liability for Cannabis Companies 52:00

2 years之前52:00

52:00

Cannabis businesses who try to get creative to circumvent 280E often find themselves in precarious positions with the IRS. Since companies in the Cannabis industry are not able to legally take tax deductions due to its classification as a Schedule 1 drug, many try to get around 280E by setting up multiple entity structures to attempt to create partitions within their corporations, or use IRC 471 incorrectly, to take deductions like businesses in other industries. Tax courts have ruled against these techniques time and time again. Minimizing tax liability while being subject to 280E doesn’t need to cause anxiety or fear if done correctly! On this episode of The Cannabis Accounting Podcast, attorney Nick Richards, partner and co-chair of the Cannabis Law practice group at Greenspoon Marder, LLP, and DOPE CFO Founder Andrew Huzicker, CPA discuss how businesses may benefit from using tax code 471-C when doing their taxes, using Capital Asset Theory to treat costs under 280E as capital assets (under the 16th Amendment of the Constitution), and ways to take expenses at exit (even under 280E).…

The Cannabis Accounting Podcast

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Ep. 127: How to Get the Most Out of Attending Cannabis Events w/ George Jage 36:12

2 years之前36:12

36:12

Participating in the Cannabis industry by going to conferences and expos is a great way to meet the people who make the businesses in this space tick, as well as get information on where the industry might be headed in the future. Attempting to break the mold set by other Cannabis conventions, MJ Unpacked is a distinctive event for nationwide license holders and accredited investors to connect, collaborate, and prepare for expansion. Attendance is exclusive to cannabis retail and brand executives, with the title manager and above and investors actively investing in the space. While most expos focus on services or products surrounding the industry, MJ Unpacked saw a need for a space where Cannabis business executives could meet and mingle with investors who are looking to enter the space or expand their portfolios. A unique venture in the world of Cannabis conferences, MJ Unpacked helps put Cannabis business owners and executives in the same room with accredited investors who want to find companies that are looking for capital to fund a startup, or raise money to scale an existing operation. Attendance at MJ Unpacked events is exclusive to Cannabis retail and brand executives, and investors that have been actively operating in the industry, so there is a stronger concentration on building businesses at these conferences, as opposed to products or services. In our latest podcast episode, MJ Unpacked Founder and CEO George Jage provides insight on what Cannabis investors are looking for in potential business partners, how MJ Unpacked is changing the Cannabis industry, and the ways that expo attendees can make the most out of their networking time at Cannabis events! The next MJ Unpacked happens in Detroit from October 10th-12th.…

The Cannabis Accounting Podcast

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Ep. 126: How to Build a Successful Cannabis/CBD Accounting, Tax, and CFO Firm 53:57

2 years之前53:57

53:57

If you are frustrated in your current career position, are sick of working long hours for little pay, or have been considering launching your own remote accounting firm and are wondering what niche to serve, now is the time to dive in! Cannabis has been predicted to produce over $30 Billion in revenue in 2023, and is the fastest growing industry in the US. DOPE CFO has all of the training and tools you need to successfully start your own remote Cannabis accounting/CFO firm and help you land high-paying clients that will appreciate the work you do and the value you offer. In this podcast episode, DOPE CFO Founder Andrew Hunzicker, CPA covers: ◾ The Industry, the Verticals, & the Complexity ◾ The Formula for Becoming a “VIP” (Valuable Expert, Instructor, Participant) in the Fastest-Growing Niche in the US ◾ Why Bookkeeping and/or “Fractional CFO” Solutions Don’t Work ◾ How to Build a Fully-Remote 1-Person $6–$7 figure firm with less than 5 clients ◾ Developing a Marketing System to Close 6-Figure Clients: our proven 4-part system shows you how to find and close great clients (even if you can’t stand marketing or advertising yourself) ◾ 5 Keys to Building the Foundation of Your Firm: including tools and workpapers you need, marketing tools, skills and education, community of experts, what a typical “day in the life of CFO” looks like, and every single thing you need to build your successful firm…

The Cannabis Accounting Podcast

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Ep. 125: How to Get Tax Reductions Right When Most Cannabis Businesses Get Them Wrong 9:48

2 years之前9:48

9:48

Want legal and compliant tax reductions? Listen to podcast episode 124 as the nation’s leader in Cannabis accounting, Andrew Hunzicker, CPA, founder of DOPE CFO, explains exactly what must be in place to properly reduce tax liability. Takeaways from landmark cases Harborside and Champs are discussed, as well as the following: ✔️ Entity structures - What nearly everyone gets wrong! ✔️ IRC 280E - What it says, how it’s commonly misinterpreted, and what the Harborside ruling shows us. ✔️ IRC 471-11 - How 99% of Cannabis growers, manufacturers, and processors are leaving hard-earned dollars on the table. Get clear, concise information you can’t get anywhere else. 🎧 Listen to this 10-minute episode “How to Get Tax Reductions Right When Most Cannabis Businesses Get Them Wrong” and get to properly lowering that tax liability now!…

The Cannabis Accounting Podcast

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Ep. 124: Reforming Cannabis Policy Statewide & Nationwide with NCIA—Why Accountants Must Be Part of the Change w/ Aaron Smith of NCIA 27:38

2 years之前27:38

27:38

If you’re done with jumping through seemingly endless regulatory hoops and compliance standards and want policies that make sense for Cannabis businesses, participating in groups that shape policy is how you become part of the solution. Be part of the change by helping to create policies that work for today’s Cannabis industry businesses! In our latest podcast episode, we’re speaking with—co-founder and CEO of the National Cannabis Industry Association Aaron Smith—on 280E, The SAFE Banking Act, and how today’s accounting professionals can get involved in enacting sensible policy reforms at the federal level and state by state.…

The Cannabis Accounting Podcast

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Ep. 123: Life Grows Green Founder Chad Price on CBD Wellness, eCommerce, Building & Scaling, & more! 25:27

2 years之前25:27

25:27

We’re talking with veteran founder/entrepreneur Chad Price of Life Grows Green on transforming the negative stigmas associated with Cannabis and serving the wellness space, what the licensed Cannabis industry can learn from the sports industry, how accountants can better serve Cannabis/CBD founders, and more!…

The Cannabis Accounting Podcast

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Ep. 122: The Quick Guide to Cannabis Bookkeeping 10:51

2 years之前10:51

10:51

Ever hear the saying, “You don’t know what you don’t know”? When performing bookkeeping for Cannabis clients, what you don’t know can have dire consequences. Even performing seemingly mundane tasks the same way you would for non-Cannabis clients can be a move in the wrong direction. Cannabis bookkeeping is unique. Properly doing it requires knowledge, not guesswork. Get informed so that you can do things properly and provide your clients with unquestionable value. It’s all here in our quick episode that’s packed with quality information on Cannabis bookkeeping!…

The Cannabis Accounting Podcast

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Ep. 121: How Utah’s Licensee-First Policies Are Creating a More Viable Medical Cannabis Industry 35:00

2 years之前35:00

35:00

In this episode of The Cannabis Accounting Podcast we’re talking with Alyssa Smailes, Executive Director of The Utah Cannabis Association. We’ll discuss how UCA is building consensus with medical practitioners and serving as the voice of the Utah Cannabis industry, learn more about on-the-ground regulation and legalization, discuss medical vs. recreational accounting differences, the Utah market, and more, so tune in!…

The Cannabis Accounting Podcast

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Ep. 120: Cannabis Dispensary Accounting & Tax 32:18

2 years之前32:18

32:18

Accountants who are in over their heads when it comes to Cannabis dispensary accounting can cost the business dearly simply because they don’t know how to do the work properly. Dispensary CEOs and operators who rely on inexperienced accountants or accounting teams are unknowingly putting themselves at risk of hefty fines or even being shut down for not following IRC 280E. In Cannabis, the right accounting procedures need to be put in place on a daily, weekly, monthly, and annual basis. Consistent and correct accounting—not strategies to beat 280E—are what make the difference. In this podcast episode, DOPE CFO founder, Andrew Hunzicker, CPA, covers: Important tax codes and how to navigate them 471 - what it says, and how to correctly apply both GAAP and Tax, particularly for retailers Ideas for how to manage from an accounting viewpoint and “how to make it all work” Key court cases and what they mean for Cannabis companies Complex legal entity structures and other “games” to avoid ...and more! There’s lots to learn, so listen in and learn up!…

The Cannabis Accounting Podcast

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Ep. 119: Being a Legacy Grower, Vertical Integration, & Craft Cannabis with Lindsey Renner 38:55

2 years之前38:55

38:55

Lindsey Renner, owner of Native Humboldt Farms, is the first enrolled tribal member to gain licensure in California in 2018. In this podcast episode we discuss Lindsey’s journey into Cannabis (including the devastating loss that preempted changes in the direction of the company), talk compliance complexities, craft Cannabis, the work she’s doing in issues of tribal sovereignty and cultivation, and more!…

The Cannabis Accounting Podcast

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Ep. 118: Entity Structure for Cannabis Companies 24:32

2 years之前24:32

24:32

Cannabis investors, CEOs, CFOs, accounting professionals, and entrepreneurs need to understand their options when it comes to choosing their entity structure, and yes—certain key concerns are unique to the niche. In this 24 minute podcast episode, DOPE CFO founder, Andrew Hunzicker, CPA, goes over applicable tax codes and common entity and funding structures, including the following: ◾ The pros and cons of C Corps, LLCs, etc. ◾ Multi-entity structures ◾ Owner and investor goals (asset protection versus tax minimization) ◾ Corporate structure and legal docs ◾ Compliance ◾ Key startup considerations ◾ …and more! In an industry where trouble seems to loom around every corner, from confusing tax codes to vague advice, being informed is of paramount importance. Get in the know so you won’t be blindsided by personal tax liabilities and financial exposure.…

The Cannabis Accounting Podcast

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Ep. 117: Banking in the Cannabis Industry 42:19

2 years之前42:19

42:19

Banking in the Cannabis industry is a biggie! We get into it with banking expert and DOPE CFO Certified Advisor—Cassidy McFarland, CPA. From his take on the recent bank collapses to risk mitigation, dealing with audits, and what most bankers want to see in startups’ pitch decks and financial models, listen in as we cover the solutions you can apply to keep yourself and your clients out of hot water.…

The Cannabis Accounting Podcast

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Ep. 116: Tips for Pricing Your Cannabis Accounting Services 9:35

2 years之前9:35

9:35

Top-tier Cannabis accountants want to provide their clients with maximum value and get paid fairly for the hard work and expertise they provide. In this 10-minute podcast episode, DOPE CFO founder, Andrew Hunzicker, CPA, goes over key considerations you need to make to adequately price your accounting services, including whether or not to take equity in lieu of payment. From setting your rate to meet current needs as well as future growth, to providing clients with undeniable benefit, to the five value drivers of World-Class Cannabis accounting—and why you should never ask those potential clients what they need—Andrew gets into all of it! Prior to sending out one more engagement letter, get the lowdown so that you can set yourself up for success.…

The Cannabis Accounting Podcast

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Ep. 115: The Grower’s Guide To Cannabis Cultivation Accounting & Tax 31:27

2 years之前31:27

31:27

Despite the fact that state-mandated seed-to-sale tracking software is notoriously buggy and local rules and regulations add an enormous amount of complexity to licensed Cannabis cultivation farms and grow rooms, cultivators are still required to follow the rules, accurately report everything on-time, pay their taxes, and more. Whether you’re a cultivator or an accountant who wants to gain an understanding of how to properly serve clients in this space, in 30 minutes, The Grower’s Guide To Cannabis Cultivation Accounting & Tax shines a light on the various components you need to consider in this vertical.…

The Cannabis Accounting Podcast

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Ep. 114: Let’s Talk About Depreciation in the Cannabis Industry 10:58

3 years之前10:58

10:58

Take the time, spend the energy to learn things well and your clients will appreciate the expertise you provide. Depreciation in Cannabis? Few accountants in the Cannabis niche know how to utilize it correctly. 280E says it’s illegal to take deductions, including depreciation. We can, however, depreciate inventoriable goods, which can then be rolled into COGS and used as a reduction… if you understand the rules AND you do “GAAP” level cost accounting! Learn more in this 10-minute podcast episode!…

The Cannabis Accounting Podcast

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Ep. 113: 5 Questions Accountants Should Ask Cannabis Business Owners 16:47

3 years之前16:47

16:47

Never position yourself as a yes person or bean counter, but as a potential partner in the success of the Cannabis businesses you work with. Asking the right questions is one easy and effective way to demonstrate your knowledge of Cannabis accounting. So what questions should you ask? In episode 113, DOPE CFO founder, Andrew Hunzicker, CPA, tells you the 5 questions you need to ask to flip the script with potential clients. Get the lowdown in less than 20 minutes, and add one more powerful tool to your toolkit.…

The Cannabis Accounting Podcast

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Ep. 112: Cannabis Delivery Services & 280E 12:56

3 years之前12:56

12:56

If your client or company delivers products to and from farms, dispensaries, and/or end users, you need to listen to this episode. Anyone touching or taking possession of the plant is likely subject to 280E… but there are complexities. Learn what those are since those found in violation of 280E could face hefty fines and penalties for improper deductions, and owe thousands in back taxes. DOPE CFO founder, Andrew Hunzicker, CPA, addresses the complexities involved in Cannabis delivery services and similar operations and IRC 280E. Get an overview of the situation in this 6-minute episode.…

The Cannabis Accounting Podcast

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Ep. 111: Managing Anxiety in Cannabis Accounting 35:11

3 years之前35:11

35:11

Did you know anxiety is actually really common in the accounting industry? Forget the shame and forget just powering through it. Learning how to manage it is key for landing potential clients as well as improving your quality of life, growing confidence, and working through stressful or anxiety-triggering situations. In this special episode, DOPE CFO founder, Andrew Hunzicker, CPA, gets actionable tips straight from DOPE CFO member, Sean Yoder, CFO, who deals with anxiety on a day to day basis.…

The Cannabis Accounting Podcast

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Ep. 110: Cannabis Valuation 101 58:26

3 years之前58:26

58:26

We’ve got specialized, “hard-to-come-by” information in today’s show. Cannabis business founders, CPAs, and accountants be prepared to take notes as industry expert Ron Seigneur, CPA ABV ASA CVA, founder of Seigneur Gustafson and inductee to The AICPA Business Valuation Hall of Fame, gives us the lowdown on Cannabis business valuations. Learn what valuation is, why it matters A LOT, and the unique considerations Cannabis industry businesses need to have on their radars. Connect with Ron Seigneur: www.cpavalue.com Check out Ron's books here: www.CannaValuation.com www.FinExpertDivorce.com…

The Cannabis Accounting Podcast

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Ep. 109: Real Estate in the Cannabis Industry: What Accountants Need to Know 12:18

3 years之前12:18

12:18

Real Estate in the Cannabis Industry: What Accountants Need to Know Whether clients are starting an indoor farm, outdoor farm, dispensary, or processing facility, real estate is a very real concern for Cannabis businesses. We’ll go over what you need to know including: Is it better to rent or own? Commercial property owners’ and potential banking issues. Landowners’ main concerns when leasing to Cannabis companies. Entity considerations How 280E affects leasing and buying real property What 280E does NOT do In less than 13 minutes get a solid overview of what you need to know and consider when it comes to renting or buying space for businesses in this niche market. Learn up with DOPE CFO and serve clients in this fast-growing industry that's projected to hit $72 billion by 2030 (Forbes 2022).…

The Cannabis Accounting Podcast

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Ep. 108: Cannabis Licensure & Social Equity in New York 46:40

3 years之前46:40

46:40

Do you have questions on how Cannabis licensure and social equity are being handled in New York? Tune in! DOPE CFO VIP member, Allison Kirchhofer, CPA, MBA, gives the lowdown on what’s going on in the massive Empire State that’s “legalizing it” in some unique ways. Cannabis accountants, social equity applicants, and anyone looking to get involved in the licensed Cannabis industries in this massive state needs to get the lowdown on what’s happening on the ground. There’s a lot to learn, so get ready to take notes! Connect with Allison Kirchhofer, CPA, MBA: Accounting by Design: http://accountingbydesign.cpa New York Consortium of Cannabis Accountants: https://www.nycca.org…

The Cannabis Accounting Podcast

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Ep. 107: GAAP Accounting & How it Applies to Cannabis Accounting 8:49

3 years之前8:49

8:49

Cannabis Businesses & Cannabis Accountants—Knowing & Doing GAAP Accounting properly is how you show your value! It’s a shame so few of today’s CPAs and accountants know how GAAP applies to Cannabis accounting. Get the lowdown on what 471-11 really means, what you can and cannot put into it, accounting for the different Cannabis verticals (cultivation/growing, processing/manufacturing, retail, delivery), why doing GAAP is essential in the Cannabis industry, and more! Get compliant and don’t leave opportunity on the table.…

The Cannabis Accounting Podcast

1
Ep. 106: Betsy Morem & Mark Waller Share Their Tips on Bookkeeping (Right) for the Cannabis Industry 42:42

3 years之前42:42

42:42

Betsy Morem & Mark Waller of Morem & Waller CPAs, PLLC. have advice on bookkeeping for today’s Cannabis businesses and staying sane in the process! Learn how to fix (and prevent) those common bookkeeping blunders, remain 280E compliant month after month, get your clients to participate in their accounting successes, and position yourself as a valuable ally in your clients’ success!…

The Cannabis Accounting Podcast

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Ep. 105: Surviving an IRS Audit in the Cannabis Industry 14:27

3 years之前14:27

14:27

In just 15 minutes, DOPE CFO founder, Andrew Hunzicker CPA, makes quick work of showing how most do Cannabis business accounting 100% wrong, and explains the approach to getting Cannabis businesses set up correctly and making them audit-ready month after month.

The Cannabis Accounting Podcast

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Ep. 104: Cannabis Accountants & Businesses—Want Depreciation? Here’s What You Need to Do! 10:44

3 years之前10:44

10:44

Has depreciation for Cannabis businesses got you confused? Whether you’re an accountant or CPA serving Cannabis clients, or the CEO/founder of a legal Cannabis company, we've got straightforward information on depreciation and 280E and 471-11. Get informed about the applicable Internal Revenue Codes (IRCs), learn which common mistakes to avoid, and understand the logic behind all of it.…

The Cannabis Accounting Podcast

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Ep. 103: Fraud Examiner David Lewis Talks Internal Controls and Corporate Governance for Cannabis Businesses 12:52

3 years之前12:52

12:52

Cannabis Businesses & Cannabis Accountants— Knowing corporate governance, having internal controls & accounting policies is SUPER important for all companies, but especially Cannabis companies, so tune in to learn how to reduce the possibility of fraud!

The Cannabis Accounting Podcast

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Ep. 102: Expert Advice on Cannabis Licensing from Bridge City Collective Co-Founder David Alport 34:09

3 years之前34:09

34:09

Bridge City’s David Alport talks Cannabis licensing (transportation, cultivation, retail), licensing in various states, where things are headed (interstate, rollups), shares Cannabis startup marketing advice, and more. Unique info you need on your radar is here, so tune in!

The Cannabis Accounting Podcast

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Ep. 101: How to Grow Your Practice in New & Emerging Legal Cannabis States w/ Rick LaNeve 31:35

3 years之前31:35

31:35

Just last year, CPA Rick LaNeve quickly went from zero Legal Cannabis clients to more than ten! Now, the founder of Accounting Buds and Chairman of the New York State CPA Society Cannabis Committee shares his tried-and-true advice on landing those 1st and 2nd Cannabis clients. 🌿Say HEY On Social: LinkedIn : https://www.linkedin.com/company/dopecfo Facebook : https://www.facebook.com/dopecfo Instagram : https://www.instagram.com/dopecfo Twitter : https://twitter.com/dopecfo YouTube : https://www.youtube.com/c/dopecfo…

The Cannabis Accounting Podcast

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Ep. 100: Looking into the Future of Cannabis Accounting and DOPE CFO 39:50

3 years之前39:50

39:50

With even the most anti-Cannabis states coming around to legalization, the industry's future is bright -and profitable. The Cannabis space has changed dramatically since the first states voted for legalization back in 2012. In the 100th episode, DOPE CFO founder Andrew Hunzicker, CPA and leaders of the DOPE CFO Certified Advisors Franchise David Lewis, Raymond Guns, and Kristi Kem highlight the industry’s progression. Listen in to hear more about navigating future hurdles and how you can take advantage of the upswing by jumping in now.…

The Cannabis Accounting Podcast

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Ep. 99: Cashless ATMs & Other Illegal Merchant Services in the Cannabis Industry 16:04

3 years之前16:04

16:04

Cashless ATMs and Credit Card payment tricks by Cannabis businesses are considered fraudulent. Cannabis is a Schedule I substance, so any attempts to get creative with payment options will still be classified as money laundering by the Feds. In this episode, DOPE CFO Founder Andrew Hunzicker, CPA and special guest Rick LaNeve, CPA, founder of Accounting Buds, have an in-depth discussion about the many illegal ways that Cannabis businesses are trying to collect payments. Listen in to hear about these Cannabis industry cash traps and how to avoid them. For more information on Cannabis Accounting and DOPE CFO, please visit our website .…

The Cannabis Accounting Podcast

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Ep. 98: Behind the Scenes: AICPA & CIMA Cannabis Industry Conference 2022 10:01

3 years之前10:01