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      Rose Taylor

      Cannabis Tax Codes: Keeping you ahead of the law

      Did you know the IRS can deny deductions completely if
      you are operating without good records? Also since there
      are no “deductions” in cannabis it’s important that your
      cost of goods sold is flowing properly through inventory
      which is a business asset.

      Under an audit having actual receipts looks great. You can
      try to recreate your expenses from a bank or credit card
      statement… but what if they are paid in cash?

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