Business Transactions

How California Taxes Unlicensed Cannabis Cultivation
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Just because California suspended the cultivation tax on cannabis, don’t think that as an unlicensed grower you have nothing to worry about.
Legal…

How Did Cannabis Fare In The Oklahoma March 2023 Special Election?
On March 7, 2023, Oklahoma held a single-issue special election to legalize adult-use cannabis. State Question 820 was left off the ballot last fall,…

U.S. Supreme Court Provides Relief From FBAR Penalties - What You Must Know About IRS FBAR Penalty Negotiations
U.S. Supreme Court Provides Relief From FBAR Penalties - What You Must Know About IRS FBAR Penalty Negotiations
In recent years the IRS has made the Report…

IRS and FTB providing tax relief for victims of severe winter storms, flooding, and mudslides in California
IRS and FTB providing tax relief for victims of severe winter storms, flooding, and mudslides in California
New announcement extends tax deadlines to…

Tax Planning For Businesses - What You Need To Know About Business Meals, Business Travel, And Advertising And Marketing Costs
Tax Planning For Businesses - What You Need To Know About Business Meals, Business Travel, And Advertising And Marketing Costs
Under prior law, a taxpayer…

IRS Issues Guidance On Taxability Of State Tax Payments
IRS Issues Guidance On Taxability Of State Tax Payments
On February 10, 2023 the IRS announced the federal tax status involving special payments made…

US Virgin Islands Passes Cannabis Legalization Bill - If You Can’t Beat Them, Join Them!
If You Can’t Beat Them, Join Them! US Virgin Islands Passes Cannabis Legalization Bill
On January 18, 2023 the U.S. Virgin Islands legislation to legalize…

Getting Ready For Tax Season 2023 – What You Need To Know About Reporting Cryptocurrency
Getting Ready For Tax Season 2023 – What You Need To Know About Reporting Cryptocurrency.
Cryptocurrency / Bitcoin – Is this the 21st century answer…

Tips For Cannabis Businesses To Prepare for the 2022 Tax Filings
On January 12, 2023, the Internal Revenue Service (IRS) announced that it will process 2022 tax returns beginning January 23, 2023.
The IRS states that…

IRS providing tax relief for victims of Georgia and Alabama severe winter storms
IRS providing tax relief for victims of Georgia and Alabama severe winter storms
The IRS announced on January 19, 2023 that Storm victims in parts of…

IRS and FTB providing tax relief for victims of severe winter storms, flooding, and mudslides in California
IRS and FTB providing tax relief for victims of severe winter storms, flooding, and mudslides in California
The IRS announced on January 10, 2023 that…

IRS providing tax relief for victims of severe winter storms, flooding, and mudslides in California
IRS providing tax relief for victims of severe winter storms, flooding, and mudslides in California
The IRS announced on January 10, 2023 that California…