This course has been updated for the Tax Cuts and Jobs Act of 2017. TCJA made a major change to the cannabis tax area. This course will also focus will be on recent cases and IRS administrative guidance; decreasing taxable income of legal marijuana growers, processors and retailers; methods for allocating deductions when a marijuana business and another business is operated by the same entity; and what costs may be capitalized by type of operation (i.e., grower vs. processor vs. retailer). Greg White and George Koutelieris also will discuss which types of entities work best for cannabis businesses.
What major impact did the Tax Cuts and Jobs Act of 2017 have on the cannabis area? IRS CCA 201504011: Is the IRS correct and what expenditures are includible as cost of goods sold under this CCA? The 9th Circuit’s Martin Olive decision. Recent tax court cases. Allocation of expenditures between two businesses (legal marijuana and other business operated by same entity). Business entity choices.
Recognize recent developments. Identify useful tax planning ideas. Capitalizing costs to inventory.
4.90 stars out of 5 - speaker rating for 2019 for George Koutelieris and Gregory White
“These 2 rock. [They are] prepared and knowledgeable.”
“George & Greg always do a great job! They are always super helpful.” - past attendees
George Koutelieris, CPA, is a shareholder with the firm Johnson & Shute P.S. He subsequently received his Master’s in Taxation from Golden Gate University graduating with Highest Honors in 2010 and being awarded the Outstanding Graduate Tax Student Award for the Seattle campus of Golden Gate. He is currently an Adjunct Professor at Golden Gate University teaching various tax courses. George’s practice includes planning and consulting on complex transactions including formations, liquidations, mergers and acquisitions, purchase and sales, multi-state and international tax for closely held businesses and their owners. In addition, George provides compliance and representation services before the IRS and various state taxing agencies for clients. George is also an active speaker on various tax topics, having presented in the past for Golden Gate University, the Washington Society of Certified Public Accountants, and the Oregon Society of Certified Public Accountants. George Koutelieris and Greg White are available to teach in-house courses in tandem for company CPE needs.
Non-Member Price $205.00
Member Price $155.00