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      Tax & Accounting issues: 4 years post SQ 788

      Tax & Accounting issues: 4 years post SQ 788

      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? Part of our
      monthly bookkeeping for clients includes electronic
      receipt storage


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      Rose Taylor

      Tax & Accounting issues: 4 years post SQ 788
      Rose Taylor graduated from the University of Oklahoma with a BBA in Business Management. Since then, she has worked with public and private companies ranging from small businesses to multi-million dollar corporations. Rose is no stranger to the cannabis industry; she loves the challenges it brings. She loves pursuing new knowledge, collaborating, and using her creative problem solving skills to set herself apart from other business professionals. Over her career, she has owned multiple businesses and had vested partnership interests in retail, B2B, e-commerce, and real estate companies. As an Enrolled Agent and accountant, Rose’s entrepreneurial experience and exposure to companies of all sizes provides her with a unique perspective compared to most in the industry. She brings exceptional knowledge to the table when it comes to advising and representing her clients’ best interests.