It may be hyperbolic to say that the IRS is at war with cannabis enterprises, but they are definitely living rent free in the minds of most cannabis professionals. As the IRS continues to prey on the disorganization of hopeful and often inexperienced founders, this complicated relationship is forcing CEOs of cannabis enterprises to treat compliance as a year round, omnipresent concern that begs for a stressful routine to constantly colour inside the lines, as opposed to the once-a-year, seasonal cadence with most businesses.
Such a responsibility should be entrusted with a competent accounting team, and that just so happens to be Andrew Hunzicker’s most urgent advice for the founders of new cannabis enterprises. Andrew is a decorated CFO, president and founder, but also happens to be the brain behind Dope CFO, which offers resources, programs and blog posts for accounting professionals interested in learning the nuances and value in the new and uncharted cannabis industry. He’s also confident of the value that CFOs like him can add to a cannabis enterprise.
“We’re not going to piecemeal any of it it’s going to be we’re going to do the cost accounting…