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Navigating New Mexico’s Cannabis Tax Landscape: A Dispensary Owner’s Guide
The Cannabis Excise Tax and GRT can be a compliance headache for dispensaries in New Mexico—but avoiding penalties and protecting your profits starts with staying ahead of the rules. We broke down the must-know facts and links in our new article.
Surviving the Squeeze: What Oklahoma Dispensaries Can Do About Price Compression
Oklahoma’s cannabis industry is in a crunch. With one of the most open licensing systems in the country, the state saw a flood of dispensaries open in record time. But now, many operators are facing a harsh reality: prices are plummeting, margins are razor-thin, and competition is more intense than ever. Here are five strategies Oklahoma dispensaries can implement today to survive price compression—and even thrive in it.
Understanding Your Cannabis Business Cash Flow
Understanding your cash flow is essential to satisfying financial commitments—and it’s the first thing investors and lenders want to see before getting involved. For these reasons, reviewing your cash flow statements and performing cash flow forecasts regularly is vital. Read our guide to cash flow best practices for cannabis businesses.
Top 5 Financial Mistakes NY Dispensaries Make (and How to Fix Them)
Running a NY dispensary? Don’t let these 5 common financial mistakes kill your profits or trigger an audit. From 280E missteps to messy inventory, we break it all down—and show you how to fix it.
What’s the Difference Between a P&L and a Balance Sheet?
Balance Sheets and P&L statements are two of the most common business financial statements. But what’s the difference between balance sheets and P&L? We’ll dive into the details and show you how to use them.
Four Cash Flow KPIs Dispensaries Must Track
Cash flow is the lifeblood of dispensaries. Tracking cash flow and cash flow KPIs can help you stay on top of your shop’s performance. Here are the four KPIs every dispensary must track.
The AP Process: A Step-by-Step Guide to Accounts Payable
Your Accounts Payable process makes all the difference in ensuring your business finances are in order. Staying on top of AP means you’re never behind on bills or payments, helping you build trust with your suppliers and ensuring strong vendor relationships.
7 Innovative Ways to Improve Cannabis Cash Flow
If your cannabis or hemp operation’s cash flow could use a little reinvention we’ve got a few creative tips to help you move it in the right direction.
Form 8300: Everything Cannabis & Hemp Operators Need to Know
When handling large amounts of cash, optimal Form 8300 processes are a must have. We walk through everything cannabis and hemp operators need to know.
Unlocking Capital for Hemp CPG Brands: A New Era of Financial Opportunity
A new lender is offering robust working capital loans to hemp CPG brands. Check out the terms and qualifications to see if your hemp brand qualified.
Managing Common Software Issues in Cannabis Accounting
Software issues are common in cannabis accounting. Sometimes, the errors are human, others are technology-related, but there’s always a solution or workaround. Even when everything seems like it’s falling apart, there’s usually a simple explanation. Keeping a cool head is essential as it will help you stay calm, identify the issue, and get back on track before anyone loses their mind.
How Tech Can Help Keep Your Books in Order
If you’re still using Excel spreadsheets, we see you. Even if you’re using basic accounting software, you might miss out on some opportunities to cut your workload, automate processes, and generally make light of your financial life.
Avoiding IRS Headaches: The Role of Accurate Record-Keeping in Tax Compliance
Cannabis businesses in the US face an uphill battle with profitability, largely because of restrictive tax laws gripping the nascent industry. Until the FDA reschedules, cannabis companies will be under a microscope. Accurate record-keeping is essential, not just to maintain compliance but also to enable more accurate business planning and attract investors.
IRS Audits Explained
Anyone who files taxes likely bristles at the utterance of the word “audit.” While cannabis companies tend to attract more scrutiny than other businesses, it doesn’t have to be a horrorshow.
Understanding the Importance of Clean Books
Business owners understand the need for meticulous financial management. Maintaining your books is an ongoing process that has many benefits. In addition to having a better grip on your cash flow, it simplifies compliance, audits, and tax filing.
But what does it mean to have “clean” books?