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About O-1 Visas: Individuals of Extraordinary Ability or Achievement. If your US business, company, or organization needs to bring in a foreign employee with extraordinary abilities in his or her field, you should consider consulting with an O-1 Visa Lawyer. O-1 visas are reserved for top-performing individuals who have been recognized nationally or internationally for their extraordinary ability or achievement. O-1 visas are designated for distinguished experts and professionals in the fields

How to Prepare to Sell Your Cannabis Business

The $2.1 billion Trulieve-Harvest acquisition is paving the way for a boom of M&A activity in the cannabis industry. 2021 may very well be remembered as the year that put market-leading cannabis businesses and MSO’s in a position to acquire operators in a way that we’ve never seen before. Furthermore, this is going to put hundreds or thousands of successful small-to-mid-sized cannabis operations in an advantageous position to sell their businesses to well-funded buyers, looking...

How to Turn Around Cannabis Business Performance

How to Turn Around a Cannabis Business The difficulty of turning a profit in today’s cannabis industry can sometimes feel insurmountable. Punishing federal and state tax regimes, the lack of intrastate commerce, limited banking access, restrictions on advertising, heavy operating costs, regulatory and reporting complexity can make it seem impossible to turn around a cannabis business. All of these factors combine to limit revenue and take big slices out of profit margins.

Top Tips: Reporting and Bookkeeping for Cannabis Dispensaries

In our experience serving 600+ cannabis clients throughout the US, we’ve observed that only 3 out of 10 dispensaries do an adequate job of bookkeeping and reporting. The thing is, we understand why. Cannabis entrepreneurs and operators are rarely accounting and finance-focused. They are instead, rightfully, focused on the day-to-day demands of growing their business in a market with slim margins and fierce competition.

3 Ways to Lower Dispensary Operating Costs

Today, we are going to analyze how we were able to help a recent client almost instantly lower their dispensary operating costs. Our cannabis CPAs were able to help one of our clients in Oklahoma cut their operating expenses by nearly 25% in the first 30 days of working with them. In addition, our team is continuing to work with the client to further optimize their operating expenses, increase profit margins, and improve cash flow in their cannabis retail operation.

5 Keys to Winning A Cannabis Retail Application

It requires a tremendous amount of planning and attention to detail in each step of your application, and any misstep or incomplete piece of your application could cost you the opportunity of running a cannabis retail operation. In this article, we will be providing a case study of a recent license review cycle in California. By examining the public records, we will demonstrate several key points that aspiring cannabis entrepreneurs must focus on to put together a winning cannabis retail applic

Keys to Cannabis Licensing: Financial Projections

Why You Need Financial Projections to Get a Cannabis License A business plan and financial projections are necessary financial documents in applying for and securing a cannabis license. These documents are not only essential in applying for your license, but will also serve as the roadmap and compass for the future of your business. In this article, we will discuss the importance of financial projections for cannabis businesses, and why a thorough forecasting model is one of the keys to obtain

Delta-8 Explainer: What is Delta-8?

Delta-8 THC is a controversial product stirring up a lot of news -- and earning bans in a growing number of adult-use and medical cannabis states. A lot of confusion swirls around Delta-8 (and to a lesser extent Delta-10) as consumers, operators, and regulators seek clarity on what this compound is, whether it is legal (and whether it should be legal), and the potential risks and opportunities presented. In this article, we will explain Delta-8 THC, discuss its current regulatory state...

Ownership Shares: The Key to Attracting Top Cannabis Talent

Building a uniquely talented team is the performance driver that distinguishes leaders from the rest of the pack. The unique conditions of the cannabis industry -- including a shallow hiring pool and tight margins -- make finding and retaining top talent an utmost priority for cannabis operators seeking to gain a competitive advantage. An underutilized tool for attracting, incentivizing, and retaining top talent -- while also motivating them to work hard and help grow your organization...

New Era of Cannabis Mergers and Acquisitions: What You Need to Know

Florida-based cannabis multi-state operator (MSO) Trulieve has announced a $2.1 billion acquisition deal of Harvest Health & Recreation. If this all-stock transaction is approved, it would result in the largest cannabis industry M&A deal to date, and could be the beginning of a new era of cannabis mergers and acquisitions. Not only a record-breaker in size, the deal also has the potential to rewrite the “rules” dictating the practices of cannabis mergers and acquisitions.

5 Ways Cannabis Companies Benefit From Enhanced Controls

The strong control environments utilized by public companies in the cannabis industry provide a powerful blueprint for best practices that private cannabis companies can learn from and build on. These controls can: provide greater accountability within the organization, lower the risk of fraud and facilitate mitigating instances of fraud, and improve the quality and accuracy of financial reporting while lessening the burden internally. Some private organizations have limited access to resources

7 Reasons to take Training and Development Classes in Person | ACTS

The employee training and development industry has been booming since so many companies moved to 100% remote working. With that, companies and their human resource departments are having to make the difficult decision of whether they want to continue with online employee training, or give them the ability to take training and development classes in person. There are many factors to consider when faced with this decision, and convenience and budget are only part of that decision.

What Cannabis Businesses Can Learn from the Harborside Inc. Case vs. the IRS

In late April, a U.S. appeals court rejected an attempt to end Section 280E of the IRS tax code by California-based cannabis company Harborside Inc. The results of this case are yet another incident of the IRS halting the cannabis industry’s prerogative to modify, reduce, or eliminate this federal tax provision. Section 280E has been difficult for the cannabis industry to navigate and has proven an obstacle for cannabis companies ––– one that has cost their industry millions in additional taxe

Why and How the IRS Audits Cannabis Businesses

In comparison to mainstream industries, cannabis businesses have considerably greater odds of being audited by the IRS. Why the IRS prioritizes auditing the cannabis industry may come as no surprise to the majority of cannabis business owners across the US. However, we weren't aware of how the IRS audits cannabis businesses until just a few weeks ago. The IRS recently, openly confirmed they have been prioritizing extensive initiatives for auditing cannabis businesses.

How to Structure Your Cannabis Cultivation Business

The cannabis industry is booming in the US, and it's only going to go up from here. More and more states are hopping on with full-recreational legalization, and it's only a matter of time before the MORE Act passes, removing cannabis from scheduling in the US, and opening up our country to more opportunities for cannabis growers. Whether you are an established, new, or prospective owner, partner, or investor in a grow operation ––– it's critical to get professional financial and tax guidance...

Potential Tax Changes During the Biden Administration

As our country passes the presidential torch, business owners and individuals alike are looking to upcoming changes to tax laws. Keep in mind – nothing has come to pass, yet. However, there are some potential changes you should have on your radar to stay aware of, over the course of the current administration: • The corporate tax rate going up from 21% to 28%. • Additional payroll taxes for individuals earning more than $400 thousand per year...
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