TEL: 561.706-7209
OUR SERVICES
Bookkeeping
Cannabooks specailizes in performing your cannabis bookkeeping or alternatively, we can review your in-house bookkeeper’s work and make the necessary adjustments to facilitate proper Cost Accounting to allow for the maximum allowed deductions.
Tax Planning
Accrual GAAP Cost Accounting is required to be performed all year (not just year-end at tax prep time) for you to maximize your tax deductions under IRC 471-11 and IRC 471-3? These deductions are not allowed if you are not doing this, and it's likely you and the majority of cannabis companies aren’t doing any cost accounting monthly. If these deductions increase COGS 10-15%, that translates (at 35% tax rates) into about 3-5% MORE CASH in your pocket.
A Certified Tax Expert
Cannabooks know how to efficiently utilize this for the cannabis touching client. Cannabooks knows how to properly allocate indirect costs to Cost of Goods Sold pursuant to IRC 471, so that your business will be afforded the maximum deductions allowed by law to lower your taxable income and lower your taxes.
Bank Reconciliation
Reconciliation is a fundamental account process, Cannabooks ensures the actual money spent matches the money leaving an account at the end of a fiscal period. This is especially important for businesses and individuals to inspect fraudulent activity and to prevent financial statement errors.
Individual Consultation
Cannabooks can also help you agressively mitigate your personal taxes, structuring entities and maximizing personal deductions.