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Why is taxation related to cannabis businesses so complicated? Why is taxation related to cannabis businesses so complicated?
Due to Section 280E of the Internal Revenue Code (IRC), a business may only deduct “cost of sales” from gross receipts in determining taxable income. Ordinary and necessary business expenses are not deductible for cannabis businesses – such as salaries, rent, utilities. This creates an... more
- Accounting & Tax
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Would Omegacomp HR handle 1099s and other compliance tasks? Would Omegacomp HR handle 1099s and other compliance tasks?
Yes, OmegaComp HR handles 1099s, W-2s, labor compliance, OSHA compliance and more.
... more- HR, Recruiting, Staffing
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If we already attend a lot of cannabis events and conferences, why would my company also want to get listed in the Who's Who in Cannabis? If we already attend a lot of cannabis events and conferences, why would my company also want to get listed in the Who's Who in Cannabis?
Great questions! We have a few thoughts on that. Here are 6 reasons why you'd want a Microsite or Personal Premium Profile on the Who's Who in Cannabis to supplement your in-person marketing efforts at events and conferences:
1) In-person events are great for outreach -- but it's impossible to be... more
- Advertising, PR, Marketing
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What kind of cannabis start-ups will be hot in 2019?
The biggest trend we're seeing is the rise of hemp and CBD products. The recently passed Farm Bill legalizes hemp as a national crop which is a great step forward for hemp and CBD products, though the regulation of these products for consumption and use is still up in the air as each state will ha... more
The biggest trend we're seeing is the rise of hemp and CBD products. The recently passed Farm Bill legalizes hemp as a national crop which is a great step forward for hemp and CBD products, though the regulation of these products for consumption and use is still up in the air as each state will have to decide (eg. some states will ban CBD for use in food). (Listen to this podcast episode about this: https://bit.ly/2SFvTOp)
Next, we're seeing exciting movement in the ancillary space. Due to the banking and tax issues related to federal prohibiton and falling wholesale prices, plant-touching businesses like retail, cultivation and manufacture are becoming less profitable. and less attractive. Instead, tech solutions in the space are taking off. Some of the trends we're seeing there are around vaporizer technologies (making it easier for users to measure their doses for consistent experiences) and data applications (providing clarity into the industry's performance).
Finally, there are issues related to prohibiton that offer opportunities for start-ups and we're seeing those turn into businesses. For example, the limitations around advertising create opportunities for startups that are providing creative advertising opportunities for brands to communicate their value to the consumer.
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How is Realm of Caring tracking the benefits of cannabinoids? How is Realm of Caring tracking the benefits of cannabinoids?
We are able to track the progress of clients who are also registered in observational research. Some of our research partners include Johns Hopkins, University of Pennsylvania, Harvard, Thomas Jefferson, and Veteran's Affairs Palo Alto. Learn more www.theroc.us/participate or call us 7... more
- Advocacy or Non-Profit
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How much time does it take to apply the Baked Smart Cannacals to cannabis infused products? How much time does it take to apply the Baked Smart Cannacals to cannabis infused products?
It depends on the product you are applying it to. For cookies it is more time intensive - although not unreasonably so - to put the targets on the baking sheet. Targets are most often used with cookie dough. The dough is placed on top of the target on the baking sheet. To figure the time I would s... more
- Cannabis Accessories
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Do you conduct private training programs for a cannabis dispensary's employees? Do you conduct private training programs for a cannabis dispensary's employees?
We do offer private trainings for dispensaries, however it is much more cost effective for your team to attend on of our scheduled trainings. Our schedule is on our website: https://www.hempstaff.com/cannabis-training-for-dispensary-jobs
For more info contact us at info@hempstaff.com
... more- Education & Training
- HR, Recruiting, Staffing
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Carole Richter answered 12/22/2018
I live in Wilmington DE and I want to go to a training program to work in a dispensary. Where can I go for training?
Hello Paul,
I'm sure there are a host of options locally and online. I would recommend contacting my colleague, Maureen McNamara, at Cannabis Trainers for advice on your specific goals. Good luck in your new career path!
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My company makes and sells CBD and Hemp products online, can we get coverage and what types of insurance might we need? My company makes and sells CBD and Hemp products online, can we get coverage and what types of insurance might we need?
Yes. Of course, this depends on a number of characteristics pertaining specifically to your business that would come into play during the risk evaluation and underwriting processes, but for all intents and purposes, coverage is certainly available for companies in your line of work.
T... more
- Insurance
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Do you think the IRS and DOJ will continue to defend their ability to share audit information now that Sessions is gone?
Thank you for your question. Yes, I think they will continue with business as normal regardless of Mr. Sessions departure. In my opinion, it doesn't matter who the AG was or will be, the DEA, DOJ, IRS, and FDA all continue to work together towards keeping cannabis out of small business... more
Thank you for your question. Yes, I think they will continue with business as normal regardless of Mr. Sessions departure. In my opinion, it doesn't matter who the AG was or will be, the DEA, DOJ, IRS, and FDA all continue to work together towards keeping cannabis out of small business.
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