Cannabis CoGS: Offset Sales & Marketing Expenses to Reduce 280E Impact on Cannabis Business Taxes

Описание: As a cannabis manufacturer or cannabis cultivator, you need to manage your cannabis CoGS to mitigate the impact of 280E on your cannabis business taxes.

There are many strategies and tax codes you can use in your cannabis accounting, but one that is not talked about a lot is the use of royalty agreements for use of intellectual property.

When you traditionally think of IP, you think of logos, trademarks and brand marks, but you should not forget that trade secrets, formulations and recipes can be considered intellectual property as well. And the royalties for use of those items can potentially be rolled into CoGS.

And the money that is paid for the IP can be used to perform non-deductible tasks such as sales and marketing in a totally different entity.

In this video, we will discuss:
Cannabis Business Taxes Impacted by IRC 280E
IP and Royalty Payment Strategy
Fund Flows
Cannabis Tax Codes
Example Cannabis Tax Savings
Understanding Your Cannabis Business Exposure

If you need help with cannabis industry royalty agreements or cannabis accounting, then please reach out to us at https://greengrowthcpas.com/get-started/ or call 800-674-9050.

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