Beating 280e With Audit-Free Accounting With Kevin Wannlund
Most businesses in most industries are struggling in these difficult times, but cannabis business owners are receiving a double blow because of the 280e provision of the tax code, which still applies to cannabis, which is classified by the DEA as a Schedule I controlled substance. Because of this, cannabis businesses are not only taxed more heavily than they should, they also find themselves ineligible for federal funding, including PPP loans. How can you make the most out of this situation? The answer may be in your balance sheets. Join Tony Frischknecht as he interviews the 280e CFO, Kevin Wannlund. Kevin helps cannabis business owners increase their profits and business valuation by giving helping them create audit-proof paperwork that can save them thousands of dollars in IRS penalties. Listen in as he explains what the 280e is and how cannabis business owners can set up their accounting to make the most of existing tax laws and end up with less liabilities and more profit.
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