June 25, 2018

Marijuana

Exposure Drafts: A Chronic Problem for Accountants New to the Marijuana Industry

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions to [email protected]

accountant-marijuana

Florida Accountant Picks Up a Green Thumb in Retirement; Authorities Not Impressed

For those of you hoping to retire one day, do you know how you’ll stay busy once you’re not working? Golf? Traveling? Yes, those sound nice and leisurely. Gardening is another nice hobby, however, be sure you stay current on the marijuana laws in your area, should you decide that’s the kind of greenhouse you […]

Starting a CPA Pot Practice Is Your Next Opportunity

Last month we discussed timing as it relates to starting an accounting practice. And while the timing is important, arguably, the most important decision you will make with regards to starting an accounting firm is the positioning, or niche, of your firm.    Niches can be structured in a number of ways but most commonly, […]

The SEC Has Warned Against Investors Putting all Their Money into Marijuana

Thank goodness we have the SEC to protect us from ourselves. The SEC sent out a warning today cautioning investors to be on the lookout for shady "microcap companies that claim their operations relate to the marijuana industry after the agency suspended trading in the fifth such company within the past two months." The SEC […]

Selling Pot Out of Your Tax Prep Business Named ‘420 Multi Services’ Will Only Fool People for So Long

Remember awhile back when we looked at some unusual tax offices? Well even longer ago, we wrote about a Bronx joint called 420 Multi Services. I know what you’re thinking. What you’re thinking is not what anyone else was thinking because apparently 420 operated as a totally inconspicuous tax prep office for 10 years. I […]

CPA Firms Going to Pot: Is There an Opportunity in the Retail Marijuana Industry?

Here's a discussion item that recently appeared in our inbox we're just going to throw out there: I haven't seen any articles on this site for accounting/tax prep for the marijuana industry? As a CPA I am always looking for clients but I don't want to have my license revoked or end up in prison […]

Accounting Career Conundrums: Put Down the Pot or Take a Gamble on Another Offer?

Sometimes I feel like I don't know. Sometimes I feel like checkin' out. I want to get it wrong. Can't always be strong. And love it won't be long… call us Ultraviolet, we're here to light your way. If you have a career question, life question, ethics question and/or dumb question for us, go ahead […]

Recruiting Season Regrets: The Guy Who Passed Up a Career with Deloitte to Sell Copious Amounts of Pot

Right now, many accounting students are giving serious thought to their futures. Right this very minute, in fact, a few are gnawing their already bloody fingernails waiting for a Going Concern blogger to tell them what to do with their lives. They can't trust their parents and friends so it's only natural that they ask […]

Running a Marijuana Dispensary Isn’t Really All It’s Cracked Up to Be Once You Remember That Tax Compliance Is Kinda Important

It’s awesome when the Commissioner of the IRS calls the tax code “a monstrosity” like he did in a speech back in May but it’s even more awesome when the tax code messes with stoners worse than an assistant principal who still has something to prove to his dad.   The Vapor Room Herbal Center […]

(UPDATE) Connecticut Accountant Denies That ‘Paperwork’ Is Code for ‘One Pound of Pot’

UPDATE: The Fairfield Citizen post now reports that the charges against Mr. Rosenberg have been dropped.  The Fairfield Citizen reports that Stuart Rosenberg, 63, got a surprise package back in May: According to police, a package was sent by overnight priority mail to Rosenberg's office from Oregon. However, Rosenberg was away and instructed an employee […]