Federal Income Taxation of Cannabis Businesses WEBCAST
Overview
CPAs and industry professionals need to stay current on the evolving Federal income tax law applicable to cannabis. At least eighteen states-including California-and the District of Columbia allow legalized cannabis sales, and many more enable medical cannabis sales. Attendees will become familiar with the rules and challenges that affect this growing industry to serve clients best.
Highlights
Income taxability. Restrictions on expense deductibility. Application of capitalization rules. Ethical and non-tax legal constraints.
Prerequisites
None.
Designed For
Tax practitioners and financial professionals.
Objectives
Identify the primary legal and tax changes affecting businesses. Determine the effects of correctly reporting cannabis sales for federal income tax purposes.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
David Clark, California CPA Education Foundation
David Clark has extensive experience in all facets of tax law with particular emphasis in real estate, family-owned businesses, and complex estate and trust arrangements. His clients appreciate his depth of understanding of the Internal Revenue Code and his practical approach to structuring complex transactions. During Mr. Clark’s nine years at Arthur Andersen & Co., his largest clients were closely held corporations involved in the real estate industry, their shareholders, related entities and family members. Since leaving Arthur Andersen & Co., he has been involved in a number of projects inside and outside the United States for both private and governmental employers. Mr. Clark is a Commissioner from California to the National Conference of Commissioners on Uniform State Laws (NCCUSL), also known as the Uniform Law Commission (ULC). He is active in the American Bar Association (ABA) Section of Taxation. He is currently a partner in the Novato CPA firm of Boerio, Clark & Associates CPAs, LLP.
Non-Member Price $209.00
Member Price $159.00