Cannabis Accounting & Consulting Group

The IRC 280E Audit Readiness Experts™

We provide IRC 280E compliance and audit readiness accounting and advisory subject matter expertise for dispensaries, cultivators, and processors. We make sure your accounting operations are always audit ready.

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Do I Really Need a Cannabis Accounting Expert?

Yes, you need a trained cannabis accountant to help you navigate the complex cannabis accounting and tax regulations associated with the cannabis industry whose primary goal is to make sure your accounting operations and reporting systems are always audit-ready.

  • Implementation of cannabis accounting & business practices to always be audit ready

  • Knowledgeable of IRC 280E and IRC 471 compliance

  • Strategic tax planning for your cannabis business

  • Outsourced Cannabis accounting and GAAP compliant reporting

  • Fractional CFO services to include strategic and business planning and fraud risk management

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We Are 100% Virtual!

Virtual Consultations

We are able to work around your busy schedule using web based conferencing technology to schedule regular meetings and review your financial reports.

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Secure Cloud-Base Technology

We use secure cloud-based technology to communicate with you and your team. We are able to create a workflow and share documents.

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Anytime, Anywhere Access

Your cloud-based accounting system and operating results are available from your mobile device, tablet or any browser.

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The Cannabis Business is Booming!

Therefore, your compliance with state and federal reporting is important. Avoid fines and penalties and be audit proof and audit ready with our uniquely designed accounting and business system specifically designed for cannabis businesses.

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37

# of States Where
Cannabis is Legal

16694

# of Legal Cannabis Licenses

160

$160 Billion Dollar
Economic Impact By 2025

The Problem

The IRS is enforcing IRC 280E throughout the Cannabis industry and reporting requirements are changing with each ruling. Poor accounting and business practices by cannabis business owners are resulting in substantial fines, additional taxes, penalties and interest from the IRS causing some businesses to close with some owners facing jail time. Don’t be one of those businesses.

  • Cannabusinesses require complex, accurate accounting in order to remain compliant and audit ready.

  • Cannabusinesses do not implement the absorption cost accounting method.

  • Cannabusinesses do not use cannabis accounting experts like CACG.

  • Cannabusinesses have inconsistent and inaccurate inventory management processes.

  • Cannabusinesses do not accurately capture direct and indirect costs associated with COGs.

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The Solution

Our cannabis accounting experts will implement a GAAP compliant, financial reporting system that focuses on accurately capturing transactions for inventory and cost of goods sold. We will help you navigate the complex reporting requirements associated with IRC 280E and IRC 471 by implementing accounting best practices for the Cannabis industry to make sure you are audit ready. We are knowledgeable of the reporting requirements for all cannabis business types to include manufacturers, processors, cultivators, and dispensaries.

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Solving the Cannabis Industry’s biggest problems

Our uniquely designed cannabis accounting and business system was created to address the issues that specifically affect all dispensaries, cultivators, and processors.

Schedule Your Accounting Assessment NOW!

Get Started with a free Accounting Assessment!

Schedule Your Assessment Today!

Looking for help? Get in touch with us