Category Archives: Taxes

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Entity Structure and Tax Considerations

Accounting Basics, Business Operations, TaxesBy LCSM May 22, 2019

Business entity structure and tax considerations for a cannabis business. A common question when setting up a new business is what entity structure the business should be. Should it be an LLC? A Corporation? What other options are there and what are the differences between each one? A cannabis entrepreneur may have even more questions. …

How Do Unbanked Businesses Pay Cash Tax Payments to the IRS?

Accounting Basics, TaxesBy LCSM August 18, 2018

How Do Unbanked Businesses Pay Cash Tax Payments to the IRS? The cannabis business largely remains unbanked. While some businesses have limited banking options, for the most part transactions remain in cash. Payments like cash tax payments, can be difficult to make. For some transactions, cash works ok – as long as they…