Category: Marijuana related business (MRB)
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September progress
This month of September 2019 was one of the most productive I’ve had in decades of small business. I helped launch (or re-launch) five new businesses. Three of them are nonprofits. One is already a financially “profitable” nonprofit so the tax and social benefit impact is impressive. I’ve proven that by offering free assistance to…
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MRB
Language matters and I tend to be deliberate in my choice of words. MRB, in my world, means “marijuana related business” and implies a range of business, legal and social determinants. I’m aware that MRB is explained differently in other sources, but that will change quickly as this market explodes.
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Banking is difficult – not impossible – for marijuana related businesses
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…
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What’s your risk of being audited by the IRS?
High risk category The highest risk of audit is born by the President of the Unites States who is automatically audited by the IRS every year. President Trump says this is very unfair. But what about the rest of us? Any taxpayer who omits an income item filed by a third party (a W2 form…