CRAIG W. SMALLEY
Craig W. Smalley, E.A., has been admitted to practice before the Internal Revenue Service, is a Certified Tax Specialist, a Certified Estate and Trust Specialist, and has a Tax Certificate from UCLA. He has been in practice since 1994. He specializes in taxation, tax consulting, and tax planning. In addition, Craig has been published by the Washington Post, Chicago Tribune, New York Times, and is currently a columnist for AccountingWEB, CPA Practice Advisor, EA Journal, and AICPA Tax Insider. Craig is also the Co-Founder and CEO of CWSEAPA®, Tax Crisis Center®, and The Cannabis Accounting Group. In his years of practice, he has represented thousands of clients before the IRS and other State Agencies. Craig is located in Orlando, Florida.
Craig W. Smalley
July 18 2019
01 : 00 PM EST
The taxation of cannabis is different from any other business. Cannabis businesses are constricted by IRC §280E. However, there are many Tax Court cases that shed a light on 280E, and some strategies that you can employ for your cannabis clients.For the typical cannabis retailer, cost of goods sold(COGS) would include the marijuana that was purchased and the percentage of rent and utilities paid for the por..