It's tax time again, and that means it's time to pay Uncle Sam!
It also means the IRS once again ramping up audits of cannabis businesses. Yes, it seems as though the IRS is emerging from a COVID-induced slumber to once again set their sights on marijuana companies in legal states.
And, when you understand that the average IRS audit of a cannabis company returns nearly 6 times the dollars to the Treasury per hour as compared to the average mainstream business audit, it’s easy to see why cannabis businesses are back in the IRS’s crosshairs.
But, there's an equally important reason to get a handle on your taxes and that's from a business perspective. So in this week's episode, Chip talks about the one big mistake to avoid this tax season that can keep more money in your business rather than sending it to the government.
Plus, we'll have our "News of The Day" segment.
Want to learn more about anything discussed in this week's episode? Send an e-mail to email@example.com and let's discuss!
What to listen to next:
Episode 03 - The Secrets of Raising Capital For Your Marijuana, Hemp or CBD Business
Episode 14 - Here's What's So Important About a $1 Million Cannabis Business
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Disclaimer: This podcast and related materials are designed only to provide general information regarding the subject matter discussed during the podcast episodes. The statutes, authorities, and other laws cited in this podcast are subject to change. This podcast and related materials are not intended to provide tax, accounting, legal, or other professional advice to any specific person or entity. Any advice or opinion regarding the application of the subject matter for a specific person or entity should be provided by a competent professional advisor based on an application of the appropriate law and authorities to the facts and circumstances applicable to that person or entity.