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Bookkeeping for the Cannabis Industry

Masters in IRC Sec. 280E Taxation for cultivators, processors, manufacturers, distributors and cannabis delivery-services.

Tel: 123.456.7890

Certified
Tax Experts

Cannabooks knows how to efficiently utilize 280E for the cannabis touching client. Cannabooks knows how to properly allocate indirect costs to Cost of Goods Sold pursuant to IRC 471, so that your business will be afforded the maximum deductions allowed by law to lower your taxable income and lower your taxes.

WE OFFER

Professional Bookkeepers 

Cannabooks specailizes in performing your cannabis bookkeeping or alternatively, we can review your in-house bookkeeper’s work and make the necessary adjustments to facilitate proper Cost Accounting to allow for the maximum allowed deductions.

Tax

Planning

Accrual GAAP Cost Accounting is required to be performed all year (not just year-end at tax prep time) for you to maximize your tax deductions under IRC 471-11 and IRC 471-3. These deductions are not allowed if you are not doing this, and it's likely you and the majority of cannabis companies aren’t doing any cost accounting monthly. If these deductions increase COGS 10-15%, that translates (at 35% tax rates) into about 3-5% MORE CASH in your pocket.
 

We Offer

Increasing COG deductions by 10-15% that translates to 3-5% more CASH in your pocket!

TESTIMONIALS

“Cannabooks helped us integrate our POS system, MJ Freeway, directly into our Quickbooks.”

—  Jason Strauss  —
CEO of ML Associates

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