How to Maximize 280E Deductions for Cannabis Dispensaries [GreenGrowth CPAs]

On Dec 13, 2021

Optimizing 280E deductions for cannabis retailers and dispensaries is the key to lowering tax exposure and boosting profitability. Legally operating cannabis businesses cannot make many of the standard deductions mainstream businesses enjoy. As a result, cannabis companies face much higher federal tax rates than other industries — as much as 40-80% more.

With taxes set to rise, it is more important than ever than retailers and dispensaries understand what they can, and cannot deduct to lower their 280E exposure.

Topics addressed in this video include:
0:00 Introduction
1:24 How 280E Impacts Cannabis Retailers
2:32 Sample Profit & Loss Sheet
3:17 280E Deductions: Direct vs Indirect Costs
5:03 Importance of Record-Keeping
6:14 Tax Reform on the Horizon?

See our article in 280E Deductions for Cannabis Cultivators: https://greengrowthcpas.com/280e-deductions-for-cannabis-cultivators/

If you have any questions about 280E deductions and tax planning for cannabis businesses, please do not hesitate to reach out for a free consultation at 1-800-674-9050 or on our website: greengrowthcpas.com/get-started

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