Running a marijuana business, but
don’t know how to deal with the IRS Code 280E?
You don’t need to fret because there are qualified accountants who can
handle this issue for you. The IRS Code
280E is one of the major problems faced by marijuana business owners
today. This is because marijuana is
illegal federally and the income that is generated through the running of the
business is also illegal under the federal law. The entire marijuana industry
is aware of this problem and businesses are having a hard time to deal with
it. There are certain deductions which
are allowable and certain which are not.
As a business owner, it may be intimidating for you to figure out which
deductions are allowable.
But when you get a CPA involved,
he will be able
to handle the IRS Code 280E problem in a hassle free manner. He will be able to suggest the ways on how
you can minimize the risks that can be caused by this section. With a qualified and knowledgeable accountant
by your side, you will be able to protect your business from the section of the
code that relates taxation of business income that is illegal federally.