Skip to main content
Spotify for Podcasters
The Cannabis Accounting Podcast

The Cannabis Accounting Podcast

By DOPE CFO

The Cannabis Accounting Podcast discusses the ins and outs of cannabis/cbd/hemp accounting. Topics include 280E, chart of accounts, starting & growing your own firm, overcoming software challenges, and more! Looking to get into cannabis accounting? To learn more visit dopecfo.com.
Available on
Apple Podcasts Logo
Google Podcasts Logo
Overcast Logo
Pocket Casts Logo
PodBean Logo
RadioPublic Logo
Spotify Logo
Currently playing episode

Ep. 128: How to Properly Adhere to 280E to Reduce Tax Liability for Cannabis Companies

The Cannabis Accounting Podcast Sep 25, 2023

00:00
52:01
Ep. 128: How to Properly Adhere to 280E to Reduce Tax Liability for Cannabis Companies

Ep. 128: How to Properly Adhere to 280E to Reduce Tax Liability for Cannabis Companies

Cannabis businesses who try to get creative to circumvent 280E often find themselves in precarious positions with the IRS. Since companies in the Cannabis industry are not able to legally take tax deductions due to its classification as a Schedule 1 drug, many try to get around 280E by setting up multiple entity structures to attempt to create partitions within their corporations, or use IRC 471 incorrectly, to take deductions like businesses in other industries. Tax courts have ruled against these techniques time and time again.

Minimizing tax liability while being subject to 280E doesn’t need to cause anxiety or fear if done correctly!

On this episode of The Cannabis Accounting Podcast, attorney Nick Richards, partner and co-chair of the Cannabis Law practice group at Greenspoon Marder, LLP, and DOPE CFO Founder Andrew Huzicker, CPA discuss how businesses may benefit from using tax code 471-C when doing their taxes, using Capital Asset Theory to treat costs under 280E as capital assets (under the 16th Amendment of the Constitution), and ways to take expenses at exit (even under 280E).


Sep 25, 202352:01
Ep. 127: How to Get the Most Out of Attending Cannabis Events w/ George Jage

Ep. 127: How to Get the Most Out of Attending Cannabis Events w/ George Jage

Participating in the Cannabis industry by going to conferences and expos is a great way to meet the people who make the businesses in this space tick, as well as get information on where the industry might be headed in the future. 

Attempting to break the mold set by other Cannabis conventions, MJ Unpacked is a distinctive event for nationwide license holders and accredited investors to connect, collaborate, and prepare for expansion. Attendance is exclusive to cannabis retail and brand executives, with the title manager and above and investors actively investing in the space. While most expos focus on services or products surrounding the industry, MJ Unpacked saw a need for a space where Cannabis business executives could meet and mingle with investors who are looking to enter the space or expand their portfolios.

A unique venture in the world of Cannabis conferences, MJ Unpacked helps put Cannabis business owners and executives in the same room with accredited investors who want to find companies that are looking for capital to fund a startup, or raise money to scale an existing operation. Attendance at MJ Unpacked events is exclusive to Cannabis retail and brand executives, and investors that have been actively operating in the industry, so there is a stronger concentration on building businesses at these conferences, as opposed to products or services.

In our latest podcast episode, MJ Unpacked Founder and CEO George Jage provides insight on what Cannabis investors are looking for in potential business partners, how MJ Unpacked is changing the Cannabis industry, and the ways that expo attendees can make the most out of their networking time at Cannabis events!

The next MJ Unpacked happens in Detroit from October 10th-12th.


Sep 11, 202336:13
Ep. 126: How to Build a Successful Cannabis/CBD Accounting, Tax, and CFO Firm

Ep. 126: How to Build a Successful Cannabis/CBD Accounting, Tax, and CFO Firm

If you are frustrated in your current career position, are sick of working long hours for little pay, or  have been considering launching your own remote accounting firm and are wondering what niche to serve, now is the time to dive in! Cannabis has been predicted to produce over $30 Billion in revenue in 2023, and is the fastest growing industry in the US.

DOPE CFO has all of the training and tools you need to successfully start your own remote Cannabis accounting/CFO firm and help you land high-paying clients that will appreciate the work you do and the value you offer.

In this podcast episode, DOPE CFO Founder Andrew Hunzicker, CPA covers:

◾ The Industry, the Verticals, & the Complexity 

◾ The Formula for Becoming a “VIP” (Valuable Expert, Instructor, Participant) in the Fastest-Growing Niche in the US

◾ Why Bookkeeping and/or “Fractional CFO” Solutions Don’t Work

◾ How to Build a Fully-Remote 1-Person $6–$7 figure firm with less than 5 clients

◾ Developing a Marketing System to Close 6-Figure Clients: our proven 4-part system shows you how to find and close great clients (even if you can’t stand marketing or advertising yourself)

◾ 5 Keys to Building the Foundation of Your Firm: including tools and workpapers you need, marketing tools, skills and education, community of experts, what a typical “day in the life of CFO” looks like, and every single thing you need to build your successful firm



Aug 28, 202353:57
Ep. 125: How to Get Tax Reductions Right When Most Cannabis Businesses Get Them Wrong

Ep. 125: How to Get Tax Reductions Right When Most Cannabis Businesses Get Them Wrong

Want legal and compliant tax reductions? Listen to podcast episode 124 as the nation’s leader in Cannabis accounting, Andrew Hunzicker, CPA, founder of DOPE CFO, explains exactly what must be in place to properly reduce tax liability. 

Takeaways from landmark cases Harborside and Champs are discussed, as well as the following: 

✔️ Entity structures - What nearly everyone gets wrong!

✔️ IRC 280E - What it says, how it’s commonly misinterpreted, and what the Harborside ruling shows us.  

✔️ IRC 471-11 - How 99% of Cannabis growers, manufacturers, and processors are leaving hard-earned dollars on the table. 

 Get clear, concise information you can’t get anywhere else. 🎧 Listen to this 10-minute episode “How to Get Tax Reductions Right When Most Cannabis Businesses Get Them Wrong” and get to properly lowering that tax liability now!



Aug 14, 202309:49
Ep. 124: Reforming Cannabis Policy Statewide & Nationwide with NCIA—Why Accountants Must Be Part of the Change w/ Aaron Smith of NCIA

Ep. 124: Reforming Cannabis Policy Statewide & Nationwide with NCIA—Why Accountants Must Be Part of the Change w/ Aaron Smith of NCIA

If you’re done with jumping through seemingly endless regulatory hoops and compliance standards and want policies that make sense for Cannabis businesses, participating in groups that shape policy is how you become part of the solution.  

Be part of the change by helping to create policies that work for today’s Cannabis industry businesses! In our latest podcast episode, we’re speaking with—co-founder and CEO of the National Cannabis Industry Association Aaron Smith—on 280E, The SAFE Banking Act, and how today’s accounting professionals can get involved in enacting sensible policy reforms at the federal level and state by state.



Jul 31, 202327:38
Ep. 123: Life Grows Green Founder Chad Price on CBD Wellness, eCommerce, Building & Scaling, & more!

Ep. 123: Life Grows Green Founder Chad Price on CBD Wellness, eCommerce, Building & Scaling, & more!

We’re talking with veteran founder/entrepreneur Chad Price of Life Grows Green on transforming the negative stigmas associated with Cannabis and serving the wellness space, what the licensed Cannabis industry can learn from the sports industry, how accountants can better serve Cannabis/CBD founders, and more!

Jul 17, 202325:27
Ep. 122: The Quick Guide to Cannabis Bookkeeping

Ep. 122: The Quick Guide to Cannabis Bookkeeping

Ever hear the saying, “You don’t know what you don’t know”? When performing bookkeeping for Cannabis clients, what you don’t know can have dire consequences. Even performing seemingly mundane tasks the same way you would for non-Cannabis clients can be a move in the wrong direction. Cannabis bookkeeping is unique. Properly doing it requires knowledge, not guesswork.

Get informed so that you can do things properly and provide your clients with unquestionable value. 

It’s all here in our quick episode that’s packed with quality information on Cannabis bookkeeping!


Jul 03, 202310:52
Ep. 121: How Utah’s Licensee-First Policies Are Creating a More Viable Medical Cannabis Industry

Ep. 121: How Utah’s Licensee-First Policies Are Creating a More Viable Medical Cannabis Industry

In this episode of The Cannabis Accounting Podcast we’re talking with Alyssa Smailes, Executive Director of The Utah Cannabis Association. We’ll discuss how UCA is building consensus with medical practitioners and serving as the voice of the Utah Cannabis industry, learn more about on-the-ground regulation and legalization, discuss medical vs. recreational accounting differences, the Utah market, and more, so tune in!

Jun 19, 202335:01
Ep. 120: Cannabis Dispensary Accounting & Tax

Ep. 120: Cannabis Dispensary Accounting & Tax

Accountants who are in over their heads when it comes to Cannabis dispensary accounting can cost the business dearly simply because they don’t know how to do the work properly. 

Dispensary CEOs and operators who rely on inexperienced accountants or accounting teams are unknowingly putting themselves at risk of hefty fines or even being shut down for not following IRC 280E.

In Cannabis, the right accounting procedures need to be put in place on a daily, weekly, monthly, and annual basis. Consistent and correct accounting—not strategies to beat 280E—are what make the difference. 

In this podcast episode, DOPE CFO founder, Andrew Hunzicker, CPA, covers:

  • Important tax codes and how to navigate them

  • 471 - what it says, and how to correctly apply both GAAP and Tax, particularly for retailers

  • Ideas for how to manage from an accounting viewpoint and “how to make it all work”

  • Key court cases and what they mean for Cannabis companies

  • Complex legal entity structures and other “games” to avoid

...and more!

There’s lots to learn, so listen in and learn up!


Jun 05, 202332:19
Ep. 119: Being a Legacy Grower, Vertical Integration, & Craft Cannabis with Lindsey Renner

Ep. 119: Being a Legacy Grower, Vertical Integration, & Craft Cannabis with Lindsey Renner

Lindsey Renner, owner of Native Humboldt Farms, is the first enrolled tribal member to gain licensure in California in 2018. In this podcast episode we discuss Lindsey’s journey into Cannabis (including the devastating loss that preempted changes in the direction of the company), talk compliance complexities, craft Cannabis, the work she’s doing in issues of tribal sovereignty and cultivation, and more!

May 22, 202338:56
Ep. 118: Entity Structure for Cannabis Companies

Ep. 118: Entity Structure for Cannabis Companies

Cannabis investors, CEOs, CFOs, accounting professionals, and entrepreneurs need to understand their options when it comes to choosing their entity structure, and yes—certain key concerns are unique to the niche.

In this 24 minute podcast episode, DOPE CFO founder, Andrew Hunzicker, CPA, goes over applicable tax codes and common entity and funding structures, including the following:

◾ The pros and cons of C Corps, LLCs, etc.

◾ Multi-entity structures

◾ Owner and investor goals (asset protection versus tax minimization)

◾ Corporate structure and legal docs 

◾ Compliance 

◾ Key startup considerations

◾ …and more!

In an industry where trouble seems to loom around every corner, from confusing tax codes to vague advice, being informed is of paramount importance. Get in the know so you won’t be blindsided by personal tax liabilities and financial exposure.


May 08, 202324:33
Ep. 117: Banking in the Cannabis Industry

Ep. 117: Banking in the Cannabis Industry

Banking in the Cannabis industry is a biggie! We get into it with banking expert and DOPE CFO Certified Advisor—Cassidy McFarland, CPA. From his take on the recent bank collapses to risk mitigation, dealing with audits, and what most bankers want to see in startups’ pitch decks and financial models, listen in as we cover the solutions you can apply to keep yourself and your clients out of hot water.

Apr 24, 202342:19
Ep. 116: Tips for Pricing Your Cannabis Accounting Services

Ep. 116: Tips for Pricing Your Cannabis Accounting Services

Top-tier Cannabis accountants want to provide their clients with maximum value and get paid fairly for the hard work and expertise they provide. In this 10-minute podcast episode, DOPE CFO founder, Andrew Hunzicker, CPA, goes over key considerations you need to make to adequately price your accounting services, including whether or not to take equity in lieu of payment.  

From setting your rate to meet current needs as well as future growth, to providing clients with undeniable benefit, to the five value drivers of World-Class Cannabis accounting—and why you should never ask those potential clients what they need—Andrew gets into all of it! Prior to sending out one more engagement letter, get the lowdown so that you can set yourself up for success.

Apr 10, 202309:35
Ep. 115: The Grower’s Guide To Cannabis Cultivation Accounting & Tax

Ep. 115: The Grower’s Guide To Cannabis Cultivation Accounting & Tax

Despite the fact that state-mandated seed-to-sale tracking software is notoriously buggy and local rules and regulations add an enormous amount of complexity to licensed Cannabis cultivation farms and grow rooms, cultivators are still required to follow the rules, accurately report everything on-time, pay their taxes, and more.

Whether you’re a cultivator or an accountant who wants to gain an understanding of how to properly serve clients in this space, in 30 minutes, The Grower’s Guide To Cannabis Cultivation Accounting & Tax shines a light on the various components you need to consider in this vertical.

Mar 27, 202331:27
Ep. 114: Let’s Talk About Depreciation in the Cannabis Industry

Ep. 114: Let’s Talk About Depreciation in the Cannabis Industry

Take the time, spend the energy to learn things well and your clients will appreciate the expertise you provide. Depreciation in Cannabis? Few accountants in the Cannabis niche know how to utilize it correctly.

280E says it’s illegal to take deductions, including depreciation. We can, however, depreciate inventoriable goods, which can then be rolled into COGS and used as a reduction… if you understand the rules AND you do “GAAP” level cost accounting!

Learn more in this 10-minute podcast episode!

Mar 13, 202310:58
Ep. 113: 5 Questions Accountants Should Ask Cannabis Business Owners

Ep. 113: 5 Questions Accountants Should Ask Cannabis Business Owners

Never position yourself as a yes person or bean counter, but as a potential partner in the success of the Cannabis businesses you work with. Asking the right questions is one easy and effective way to demonstrate your knowledge of Cannabis accounting.

So what questions should you ask? In episode 113, DOPE CFO founder, Andrew Hunzicker, CPA, tells you the 5 questions you need to ask to flip the script with potential clients. Get the lowdown in less than 20 minutes, and add one more powerful tool to your toolkit.

Feb 27, 202316:47
Ep. 112: Cannabis Delivery Services & 280E

Ep. 112: Cannabis Delivery Services & 280E

If your client or company delivers products to and from farms, dispensaries, and/or end users, you need to listen to this episode.

Anyone touching or taking possession of the plant is likely subject to 280E… but there are complexities. Learn what those are since those found in violation of 280E could face hefty fines and penalties for improper deductions, and owe thousands in back taxes.

DOPE CFO founder, Andrew Hunzicker, CPA, addresses the complexities involved in Cannabis delivery services and similar operations and IRC 280E. Get an overview of the situation in this 6-minute episode.

Feb 13, 202312:56
Ep. 111: Managing Anxiety in Cannabis Accounting

Ep. 111: Managing Anxiety in Cannabis Accounting

Did you know anxiety is actually really common in the accounting industry? Forget the shame and forget just powering through it. Learning how to manage it is key for landing potential clients as well as improving your quality of life, growing confidence, and working through stressful or anxiety-triggering situations.

In this special episode, DOPE CFO founder, Andrew Hunzicker, CPA, gets actionable tips straight from DOPE CFO member, Sean Yoder, CFO, who deals with anxiety on a day to day basis.

Jan 30, 202335:11
Ep. 110: Cannabis Valuation 101
Jan 16, 202358:26
Ep. 109: Real Estate in the Cannabis Industry: What Accountants Need to Know

Ep. 109: Real Estate in the Cannabis Industry: What Accountants Need to Know

Real Estate in the Cannabis Industry: What Accountants Need to Know

Whether clients are starting an indoor farm, outdoor farm, dispensary, or processing facility, real estate is a very real concern for Cannabis businesses.

We’ll go over what you need to know including:

  • Is it better to rent or own?
  • Commercial property owners’ and potential banking issues.
  • Landowners’ main concerns when leasing to Cannabis companies.
  • Entity considerations
  • How 280E affects leasing and buying real property
  • What 280E does NOT do

In less than 13 minutes get a solid overview of what you need to know and consider when it comes to renting or buying space for businesses in this niche market. Learn up with DOPE CFO and serve clients in this fast-growing industry that's projected to hit $72 billion by 2030 (Forbes 2022).

Jan 02, 202312:19
Ep. 108: Cannabis Licensure & Social Equity in New York

Ep. 108: Cannabis Licensure & Social Equity in New York

Do you have questions on how Cannabis licensure and social equity are being handled in New York? Tune in! DOPE CFO VIP member, Allison Kirchhofer, CPA, MBA, gives the lowdown on what’s going on in the massive Empire State that’s “legalizing it” in some unique ways.

Cannabis accountants, social equity applicants, and anyone looking to get involved in the licensed Cannabis industries in this massive state needs to get the lowdown on what’s happening on the ground. There’s a lot to learn, so get ready to take notes!

Connect with Allison Kirchhofer, CPA, MBA:

Accounting by Design: http://accountingbydesign.cpa

New York Consortium of Cannabis Accountants: https://www.nycca.org

Dec 19, 202246:41
Ep. 107: GAAP Accounting & How it Applies to Cannabis Accounting

Ep. 107: GAAP Accounting & How it Applies to Cannabis Accounting

Cannabis Businesses & Cannabis Accountants—Knowing & Doing GAAP Accounting properly is how you show your value! It’s a shame so few of today’s CPAs and accountants know how GAAP applies to Cannabis accounting.

Get the lowdown on what 471-11 really means, what you can and cannot put into it, accounting for the different Cannabis verticals (cultivation/growing, processing/manufacturing, retail, delivery), why doing GAAP is essential in the Cannabis industry, and more! Get compliant and don’t leave opportunity on the table.

Dec 05, 202208:50
Ep. 106: Betsy Morem & Mark Waller Share Their Tips on Bookkeeping (Right) for the Cannabis Industry

Ep. 106: Betsy Morem & Mark Waller Share Their Tips on Bookkeeping (Right) for the Cannabis Industry

Betsy Morem & Mark Waller of Morem & Waller CPAs, PLLC. have advice on bookkeeping for today’s Cannabis businesses and staying sane in the process! Learn how to fix (and prevent) those common bookkeeping blunders, remain 280E compliant month after month, get your clients to participate in their accounting successes, and position yourself as a valuable ally in your clients’ success!

Nov 21, 202242:43
Ep. 105: Surviving an IRS Audit in the Cannabis Industry

Ep. 105: Surviving an IRS Audit in the Cannabis Industry

In just 15 minutes, DOPE CFO founder, Andrew Hunzicker CPA, makes quick work of showing how most do Cannabis business accounting 100% wrong, and explains the approach to getting Cannabis businesses set up correctly and making them audit-ready month after month.

Nov 07, 202214:28
Ep. 104: Cannabis Accountants & Businesses—Want Depreciation? Here’s What You Need to Do!

Ep. 104: Cannabis Accountants & Businesses—Want Depreciation? Here’s What You Need to Do!

Has depreciation for Cannabis businesses got you confused? Whether you’re an accountant or CPA serving Cannabis clients, or the CEO/founder of a legal Cannabis company, we've got straightforward information on depreciation and 280E and 471-11. Get informed about the applicable Internal Revenue Codes (IRCs), learn which common mistakes to avoid, and understand the logic behind all of it.

Oct 24, 202210:44
Ep. 103: Fraud Examiner David Lewis Talks Internal Controls and Corporate Governance for Cannabis Businesses

Ep. 103: Fraud Examiner David Lewis Talks Internal Controls and Corporate Governance for Cannabis Businesses

Cannabis Businesses & Cannabis Accountants— Knowing corporate governance, having internal controls & accounting policies is SUPER important for all companies, but especially Cannabis companies, so tune in to learn how to reduce the possibility of fraud!

Oct 11, 202212:53
Ep. 102: Expert Advice on Cannabis Licensing from Bridge City Collective Co-Founder David Alport

Ep. 102: Expert Advice on Cannabis Licensing from Bridge City Collective Co-Founder David Alport

Bridge City’s David Alport talks Cannabis licensing (transportation, cultivation, retail), licensing in various states, where things are headed (interstate, rollups), shares Cannabis startup marketing advice, and more. Unique info you need on your radar is here, so tune in!

Sep 26, 202234:09
Ep. 101: How to Grow Your Practice in New & Emerging Legal Cannabis States w/ Rick LaNeve
Sep 13, 202231:36
Ep. 100: Looking into the Future of Cannabis Accounting and DOPE CFO

Ep. 100: Looking into the Future of Cannabis Accounting and DOPE CFO

With even the most anti-Cannabis states coming around to legalization, the industry's future is bright -and profitable.


The Cannabis space has changed dramatically since the first states voted for legalization back in 2012. In the 100th episode, DOPE CFO founder Andrew Hunzicker, CPA and leaders of the DOPE CFO Certified Advisors Franchise David Lewis, Raymond Guns, and Kristi Kem highlight the industry’s progression. Listen in to hear more about navigating future hurdles and how you can take advantage of the upswing by jumping in now.

Aug 29, 202239:50
Ep. 99: Cashless ATMs & Other Illegal Merchant Services in the Cannabis Industry
Aug 15, 202216:05
Ep. 98: Behind the Scenes: AICPA & CIMA Cannabis Industry Conference 2022

Ep. 98: Behind the Scenes: AICPA & CIMA Cannabis Industry Conference 2022

Can you believe how far the Cannabis industry has come? Last year the AICPA (American Institute of Certified Public Accountants) recognized the industry with a few sessions at one of its conferences. This year the AICPA and CIMA have dedicated an ENTIRE conference to all things Cannabis accounting, and the DOPE CFO team is at the forefront with FOUR sessions during the 3-day event!

The move towards legalization in states over the last few years has brought involvement from many different areas, so this year’s Cannabis conference is bringing together a wider range of Cannabis experts. Attendees can expect to hear from CPAs from firms big and small as well as experienced CPAs turned instructors and Cannabis attorneys who have valuable perspectives on the industry.

The DOPE CFO team has become well known in the industry, and they’ll be offering sessions on some of the most pressing topics such as raising capital, banking, costing, technology, risk mitigation, and more. We’ll be sharing our experiences - maybe even some horror stories - to help those who are interested in or just getting started in Cannabis accounting.

The team will be hosting sessions that…

🌱 Provide basics to help accountants truly get to know their clients so they can build a strong firm

🌱 Guide newcomers on how to adopt a Cannabis accounting mindset

🌱 Discuss ways to legally raise funding

🌱 Detail how to get a position in the private sector

🌱 Offer a chance for closer networking through fireside chats where attendees can ask questions from industry experts

While we’re busy getting ready for this year’s Cannabis conference, head over to the AICPA & CIMA Cannabis Industry Conference page to register to attend. Use the code CAN2022 for discounted admission.

Click here for more information and to register for the conference.

To learn more about our Cannabis accounting program, check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.”

🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo

🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo

Aug 01, 202210:02
Ep. 97: How Investors Can Avoid Personal Tax Doom

Ep. 97: How Investors Can Avoid Personal Tax Doom

There’s risk and then there’s calculated risk.

The calculated risk we were referring to on this episode of the Cannabis Accounting Podcast is the investments that require deep research into the past, present, and future of a company before deciding to go forward. And though many veteran investors can easily tell the difference, even seasoned investors find themselves with losses investing in the Cannabis industry.

From tales of investors who have invested over $2 million without seeing any kind of return to investors whose shares of a company don’t allow for any input in a business’ controls, we’ve seen plenty of people with solid investment choices who suffered major losses.

There are ways to avoid such negative outcomes, and fortunately for investors, the red flags that spell financial disaster when investing with a Cannabis company can often be spotted early on.

Here are some things to consider before deciding whether to invest with a Cannabis company:

🍃 The glory of the C-corp: This entity structure makes it much easier to raise capital and has better asset protection for the company. Most importantly, this structure purposely separates investors from their business investments, meaning investors cannot be individually audited.

🍃  The LLC risk factor: Unlike a C-corp, this entity structure throws open the door for all investors to be individually audited apart from the Cannabis business. If you’re set on investing with this type of Cannabis company, take extra precautions and make sure you have a voice in determining tax distributions and consult with a verified corporate tax attorney.

🍃  Tax regulations and procedures: Sure, you may not be the one to set up those corporate governance guidelines and internal controls (it’s best to trust a trained Cannabis accountant to put these in place), but it doesn’t mean your voice doesn’t count. As an investor, it’s your right to see that the business you’re investing in is following all tax protocols by the book–trouble for the company spells trouble for you (especially if that company is an LLC).

To learn more about our Cannabis accounting program, check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.”

🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo

🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo

Jul 18, 202211:58
Ep. 96: Your First Year As A Cannabis Accountant
Jul 04, 202218:26
Ep. 95: Get More Exposure For Your Firm As A Conference Speaker

Ep. 95: Get More Exposure For Your Firm As A Conference Speaker

What if you could take your business further using what you ALREADY know about accounting? One of the best ways to keep your business growing is to share your knowledge by speaking at conferences and events. Events are prime locations to make valuable network connections, learn, and gain added exposure for your business, so whether you’re a Cannabis accounting expert or relatively new to the field, speaking on stage is something all levels should consider.


We know the thought of public speaking may have some people adamantly shaking their heads, but don’t shy away. The best part of presenting at Cannabis conferences is being surrounded by like-minded people who are all there for the same reason: to learn and grow together.


Tune in to Episode 95 to hear our founder Andrew Hunzicker, CPA along with special guest, expert Cannabis accountant Raymond Guns, CPA at 1st Choice CPA, to walk us through his accounting experience and explain how he began booking events early on in his journey into the niche Cannabis accounting world. We’ll dive into how your business can benefit from becoming a conference speaker and steps you can take to get started yourself.


To learn more about our Cannabis accounting program, check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.”


🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo


🌿Say HEY On Social:


LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo

Jun 20, 202223:07
Ep. 94: Harborside Case Review: Why Multiple Entities Won't Circumvent 280E

Ep. 94: Harborside Case Review: Why Multiple Entities Won't Circumvent 280E

Setting up multiple corporate entities for the sole purpose of getting around 280E will lead to a ton of trouble with the IRS. Just ask the folks over at Harborside.


The (still) ongoing Harborside case has taught us how the IRS views using multiple entities to take tax deductions for a Cannabis business, whether that entity is attached to or separate from the Cannabis operations. By trying to be clever and get around 280E, Harborside has now put itself in the position of potentially having to pay a cool $11 million in back taxes.


Harborside even tried to fight the constitutionality of 280E… and lost the appeal.


Our latest podcast episode, “Harborside Case Review: Why Multiple Entities Won't Circumvent 280E,” explores exactly where it all went wrong for Harborside and what we can do as accounting professionals to protect our Cannabis clients and their businesses.


Topics include:

🟢 A brief overview of the Harborside case.

🟢 Why using Harborside’s multi-entity corporate structure to take (illegal) tax deductions won’t fly during an audit.

🟢 Minimizing tax liability while still adhering to 280E.


CLICK HERE to grab your FREE “Ultimate Guide to Entities and Funding Structures in Cannabis!”


🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo


🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo

Jun 06, 202214:10
Ep. 93: How can licensed Cannabis businesses prevent raids over unpaid taxes?

Ep. 93: How can licensed Cannabis businesses prevent raids over unpaid taxes?

Two licensed dispensaries were raided last month by the California Highway Patrol, with the California Department of Tax and Fee Administration on standby, to collect overdue state tax payments. The officers walked out with a couple of six-inch-high stacks of cash, but there is more to this story than a modern-day western holdup. 

In our latest episode of the Cannabis Accounting Podcast, Andrew Hunzicker, CPA sits down with Daryl Jendras, CPA and managing director of Green Rush Tax PLLC. Daryl joins us with 30 years of state and local tax experience in corporate and public accounting settings with exposure to various industries throughout the US and Canada. Some have labeled him a ‘sales tax guru’ because of his track record of saving Cannabis businesses millions of dollars by understanding how to effectively work with the Department of Revenue.

In this episode, Andrew and Daryl discuss situations that have led to licensed Cannabis businesses being raided over unpaid taxes and how you can avoid a similar fate. You’ll learn important information regarding the following:

🌿 What a successful relationship looks like between a Cannabis accounting agency and the Department of Revenue.

🌿 Understanding why your agency receives automated notices from the Department of Revenue.

🌿 What happens when your agency and/or dispensaries ignore these notices.

🌿 What the consequences are for agencies and dispensaries that do not remit sales tax.

🌿 How voluntary disclosure agreements can help dispensaries secure payment plans for sales tax not remitted.

🌿 Understanding a dispensary’s sales tax liability when selling in multiple states.

Visit https://bit.ly/3pOebLO to grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.”

🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo

🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo

May 23, 202226:36
Ep. 92: 4 Myths CEOs Believe About Cannabis Accounting
May 09, 202213:34
Ep. 91: Tips for Pricing Your Cannabis Accounting Services
Apr 25, 202216:44
Ep. 90: Entity Structure Considerations for Cannabis Investors and Owners

Ep. 90: Entity Structure Considerations for Cannabis Investors and Owners

As Cannabis business owners and investors grow their companies and expand their operations, some will inevitably be blindsided by personal tax liabilities that aren’t protected by their entity structure.

The corporate entity’s structure determines the tax implications for owners, investors, and other shareholders. It also lays the foundation of how they get paid out in the future (at exit, yearly dividends, etc.). Correctly accounting for and tracking revenues and costs per your entity type will save major headaches when it comes time to file returns.

In this podcast, Andrew Hunzicker, CPA, sits down to discuss ‘Personal Tax and Entity Structure Considerations for Cannabis Investors and Owners’ to teach you about how a company’s structure affects personal tax filing, income distribution, and reporting requirements.

During this episode, he covers:

🌿 Cannabis tax codes and their relationship to entity structures: different entity structures may directly impact the tax rate business revenue is ultimately subjected to, so it helps to start with an understanding of the tax codes that affect the Cannabis industry.

🌿 Different types of entity structures used in Cannabis: from C corps to LLCs: Andrew discusses common Cannabis entity structure types and their pros and cons.

🌿 How to pick the best structure for your client: beyond pros and cons, how to analyze your client’s vertical and business model to determine the best entity structure.

CLICK HERE to grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.”

🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo

🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo

Apr 11, 202211:33
Ep. 89: 5 Keys to Building a Successful Cannabis Firm
Mar 28, 202244:05
Ep. 88: A Closer Look at Tax Code 471 and the Challenges with Cannabis Inventories
Mar 14, 202247:24
Ep. 87: What Are Cannabis Entrepreneurs Really Looking For In An Accountant?

Ep. 87: What Are Cannabis Entrepreneurs Really Looking For In An Accountant?

Let’s face it; Cannabis business owners are incredibly busy keeping up with updates within the industry, making it almost impossible for them to keep up with their finances. This is what makes Cannabis accounting essential to keep their business successful.

But a lot more goes into working for this niche than you might think.

In this episode, Andrew sits down with Tina Begay, who owns Redtail Accounting, a business, consulting, and accounting services company, to go over her journey from professor to Cannabis Accountant. They take a closer look at what it means to be there for your clients and other ways to open your line of communication.

They also go over:

🌿 Pain points that cannabis business owners face in terms of bookkeeping, accounting, and tax codes.

🌿Organization tips and time management best practices.

🌿How to create strong working relationships with clients.


Want more guidance after the episode? Visit https://bit.ly/3pOebLO to grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” 


🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo


🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo


🌿Connect With Tina

Linkedin: https://www.linkedin.com/in/tina-begay-mba-328327190/

Facebook: https://www.facebook.com/tbegay/

Twitter: https://twitter.com/TinaBegay9

Website: https://www.tinabegay.com/

Feb 28, 202223:46
 Ep. 86: Best Practices for Networking at Cannabis Conferences

Ep. 86: Best Practices for Networking at Cannabis Conferences

It’s no secret that accounting professionals are intimidated by the Cannabis industry. Between finding information about the niche and landing clients, many shy away from the industry which leaves CEOs in need of experienced professionals.

Of course, accounting fundamentals are crucial but one expertise that many Cannabis and CBD/hemp accountants are missing is the ability to market themselves. Whether it’s at in-person conferences or through social media, networking is essential to building your client base.

In this podcast, the organizer of last year’s Orlando Tax Summit, Crysta Tyus, EA, gives us a behind-the-scenes look at Cannabis conferences. From deciding between various conferences to networking at large events, Crysta shares her first-hand knowledge on how to best approach these opportunities, such as determining your  ROI on whether it’s worth it to apply to be a speaker, secure a booth, or both.

What You’ll Learn:

🍃  How to build your client base through networking

🍃  The best practices for attending Cannabis conferences

🍃  How to confidently price your services

To learn more about our Cannabis accounting program check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.”

🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo

🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo

🌿Find Crysta Tyus, EA

Website: https://www.crystatyus.com

LinkedIn: https://www.linkedin.com/in/crystatyus

Instagram: https://www.instagram.com/crystatyus

YouTube: https://www.youtube.com/channel/UCz7uYYBPyfE-Oe1L-iuwuBQ

Feb 14, 202251:01
Ep. 85: The Ultimate Guide to Cannabis/CBD Accounting, Bookkeeping, & Tax

Ep. 85: The Ultimate Guide to Cannabis/CBD Accounting, Bookkeeping, & Tax

Experienced bookkeepers and accountants are essential in keeping cannabis companies penalty-free.


The IRS and state tax agencies are ramping up their audits on Cannabis companies this year, and the industry needs trained bookkeepers and accountants more than ever to accurately clean up Cannabis books, adhere to GAAP guidance, and understand the critical workarounds necessary to navigate the tricky “quirks” of Cannabis bookkeeping.


In this episode,  Andrew Hunzicker, CPA, goes over the right education, tools, and systems in place to guide you to become the accounting professional every Cannabis company wants to hire, instead of the one that's causing them grief.


He discusses:

  • Internal record keeping vs. Cannabis specialized bookkeeping
  • Important court cases and tax codes: IRC 280E and 471, the tax codes that lay out the framework for the only way Cannabis companies can legally take tax deductions.
  • Cleanup and onboarding processes for new clients: a framework for the cleanup process during your first 30 days
  • Day-to-day and month-end tie out systems: the reporting processes and systems to keep your client’s books up to date and compliant


Grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” Visit: https://bit.ly/3pOebLO


🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo


🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

Jan 31, 202240:47
Ep 84: How to Correctly Price Your Accounting Services from the Start

Ep 84: How to Correctly Price Your Accounting Services from the Start

Accounting professionals… it’s time for you to charge what you're worth! There are a million reasons why accounting professionals aren’t charging enough for their services.


One of the most daunting questions that accounting professionals have when they first start their own firm or add a new service is, “how much should I charge?” More often than not, unaware Cannabis accounting professionals will undercharge their clients to get the business, and then once the work starts, they realize how massive the workload is. It can be very difficult to go back to the client and ask for more, making it very important to charge them correctly the first time around, which is why you want to check out this episode of the DOPE CFO podcast.


In this podcast episode, Andrew covers:


🌿  How much you should charge to hit your monthly revenue goal: he provides examples of how to build a 6-figure firm, how many clients it would take, and how much you should be charging each client.


🌿  What all Canna/CBD owners want and value in terms of accounting: stop pitching bookkeeping and low-value services, and start leading with services that are highly valuable, and set you apart from others in the industry.


🌿  Challenges Cannabis accounting professionals often face: banking, cash controls, POS systems, integrations with seed-to-sale software, and many more.


Grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” Visit: https://bit.ly/3pOebLO


🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo


🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

Jan 17, 202214:10
Ep. 83: How Cannabis Transformed My Practice--with Chip Schweiger, CPA, CGMA

Ep. 83: How Cannabis Transformed My Practice--with Chip Schweiger, CPA, CGMA

It’s a new year and the perfect time to finally take that leap into the exciting world of Cannabis.


Getting into a new industry is scary and you might not know where to start or what to expect. Some of you might have just stumbled on this podcast and the title piqued your curiosity, some of you have been listening along and are figuring out if this is the niche you want to be in, and others are just looking to hear a new perspective. Referred to by some as the “Wild Wild West," the rampant growth and expansion of the Cannabis industry have made it an exciting place to operate.


In today’s episode, the Cowboy Accountant himself, Chip Schweiger, CPA, CGMA from The Green Leaf CPA talks with DOPE CFO Founder, Andrew Hunzicker, CPA about the transition to starting his own Cannabis accounting firm and learning to function in this relatively new (state-legal) industry.


They discuss:

🍃  What makes the Cannabis industry unique

🍃  The growing opportunity Cannabis accountants and bookkeepers have as state legalization continues to sweep the country

🍃  Tools you can utilize when starting your own Cannabis accounting firm


Grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” Visit: https://bit.ly/3pOebLO


🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo


🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo


🌿  Find Chip Schweiger, CPA, CGMA

Website: https://thegreenleafcpa.com/

LinkedIn: https://www.linkedin.com/in/chipschweiger/

Instagram (Chip): https://www.instagram.com/chipschweiger/

Instagram (The Green Leaf CPA): https://www.instagram.com/thegreenleafcpa/

Twitter: https://twitter.com/ChipSchweiger

Jan 04, 202234:14
Ep. 82: A Deep Dive Into the Challenges of Working in Cannabis in Arizona -- with Samuel Richard

Ep. 82: A Deep Dive Into the Challenges of Working in Cannabis in Arizona -- with Samuel Richard

It’s tough starting a business in an industry with so much red tape and unclear guidelines. For Cannabis business owners, there are numerous restrictions and they might start feeling hopeless and lonely. Groups like the Arizona Dispensaries Association (ADA) are a community of leaders providing information, guidance and are the legislative and regulatory voice for Arizona’s Canna-prenuer.  They strive to recruit and retain responsible industry members who believe in protecting patients and providing high-quality cannabis in Arizona.


As a Cannabis accountant and bookkeeper, you can network with advocacy groups by demonstrating your expertise. One idea is leading an informative seminar on 280E!


Andrew discusses the following with Samuel Richard, a member of the Arizona Dispensary Association (ADA) on this episode of our podcast:


🌿  What advocacy for Cannabis companies looks like and how to get involved

🌿  The Arizona Cannabis market, and how the Arizona Dispensary Association is helping businesses navigate tough rules and regulations through their work

🌿  IRS audits and the need for accountants in the Cannabis industry


Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo


Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo


Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo


Arizona Dispensary Association Social:

https://azdispensaries.org/

https://www.facebook.com/AZDispensariesAssociation/

https://twitter.com/ada_arizona

https://www.instagram.com/arizona.dispensaries/

Dec 21, 202128:14
Ep. 81: Why Social Equity Matters in the Cannabis Industry with Nina Parks (Gift of Doja) and Shaleen Title
Dec 06, 202158:17
Ep. 80: An Outlook on IRS Audits and Tax for the Cannabis Industry in 2021/2022
Nov 22, 202114:15
Ep. 79: Surviving an Audit from a Cannabis Owner’s Perspective -- with Tony Frischknecht

Ep. 79: Surviving an Audit from a Cannabis Owner’s Perspective -- with Tony Frischknecht

Audits. That’s a word that makes most Cannabis accountants and their clients shake in their shoes. But the audit process doesn’t have to be so anxiety-producing. You just have to know what to expect.

Our recent podcast features Tony Frischknecht, a Cannabis company owner and investor of more than 17 years. Tony got his start in Colorado, the first state to legalize Cannabis. Tune in as he sits down with DOPE CFO founder Andrew Hunzicker, CPA to discuss what experiencing an audit is like from the perspective of a Cannabis CEO and what you can do to up your accounting game to help your clients pass with flying colors.

Key points Tony and Andrew discuss include:

  • Why city and state audits are implemented: audits are necessary -- they aren’t just delivered as punishment for Cannabis companies that regulatory bodies suspect are conducting business illegally (discover the real reason why audits are not only necessary but inevitable)
  • How Cannabis accountants can help prepare their clients for audits: rock-solid accounting and an impeccable understanding of compliance are key to helping your clients survive audits (we’ll discuss which components need to be in place, as well as common errors to avoid)
  • The one factor that will set you apart in a client’s eyes: providing cost accounting and inventory accounting, strategic advisory, and tax burden guidance is all essential but building a relationship with a client will make the biggest difference (and greatly improve your chances of attracting higher-paying clients)

Tony is available at tonyfrischknecht.com if you want to connect about audits or Cannabis investing or to listen to his podcast, Plant Problems.

For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr

Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo

Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo

Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

Nov 08, 202133:57