Update on nondisclosure of charities’ donor rule

Posted Leave a commentPosted in Cannabis, Nonprofit, Tax Planning

Revenue Procedure 2018-38 remains controversial. Lawmakers (mostly Democrats) are concerned that it could encourage the flow of dark money into the tax-exempt sector. Their concern is valid. I know of private foundations that have already reorganized as public charities to take advantage of the secrecy rule change for their own benefit. No doubt, this rule […]

Twelve consumer product businesses to avoid

Posted Leave a commentPosted in Ethics, Leadership, News and Politics

These twelve companies sell to consumers; meaning there is usually a consumer market choice to be made. They made the list either for supporting the current national political regime or for unrelenting damage to the environment. I won’t buy from any of them and I hope that you don’t either. Home Depot Chick-fil-A Anheuser-Busch CVS […]

Banking is difficult – not impossible – for marijuana related businesses

Posted Leave a commentPosted in Banking, Cannabis, Marijuana related business (MRB)

I often hear comments that you can’t get a bank account or credit card processing for a marijuana related business (MRB). That is just not true. Peer CPAs on the west coast have reported success in building baking relationships for their clients and we are sure that this trend will expand eastward. What is true […]

Avoid being a fraud victim when venturing into the cannabis industry

Posted Leave a commentPosted in Accounting, Cannabis

It seems like every week lately we read about another cannabis industry fraud. Investors are losing millions. Regulators are levying fines. The IRS, tax court and states are moving at full speed against these companies that simply lack effective management controls. In one tragic case, a cannabis business founder committed suicide after losing millions in […]

Questions about TechSoup

Posted 1 CommentPosted in Accounting, Nonprofit, technoogy

My largest block of clients are charitable organizations. In that nonprofit field the company TechSoup is a popular vendor of technology services. A few recent events cause me to ask more questions. I’ve made a few purchases for clients through them. TechSoup markets “donated and specially discounted technology offers”. But lately I’ve noticed that specific […]