An IRS Update For Cannabis-Based Businesses

November 26, 2014 by Cannabis Business Summit Staff

Marijuana-related businesses face myriad financial concerns due to discrepancies between state and federal laws. They are cash-based businesses because most banks won’t accept their money. They aren’t allowed to deduct common overhead expenses on taxes, and even attorneys and accountants are reluctant to give advice to these businesses for fear of reprisal…

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