§280E Archives | EA Journal

Tax Planning

Navigating Cannabis Tax Planning

Navigating the murky waters of cannabis tax planning has always been complex when you consider the ambiguity around the tax code and the regulations impacting the marijuana industry. So how do enrolled agents who chose t... Amorette D. Mason, EA

Winter 2024, Tax Planning, TCJA, Tax Cuts and Jobs Act, §199A, cannabis, marijuana, §280E, COGS, §10.22, §10.35, small business, §10.34, §471(c), social justice, Schedule I, Schedule II, Drug Enforcement Administration, DEA, chief financial officer, CFO, cost of goods sold, §IRC 471-11(c)(2)(i), §IRC 471-11(c)(2)(ii), §6694, §6700

Tax Code

Demystifying the Code: Chapter One

In an earlier part of my life, I taught basic income tax as a law school course to hundreds of students, many of whom would prefer to read anything other than a statute. You may agree with the students. Ta... Donna M. Byrne, EA, JD, NTPI Fellow®

Jan/Feb 2022, Tax Code, Internal Revenue Code, credit, the Code, §280E, IRC, §32 credit, §121, §162, §1031, §71, §72(a), §74, §102, §139, §280A, §61, inclusion, exclusion

State-Legal Marijuana Businesses and Taxes

Expert Notes

State-Legal Marijuana Businesses and Taxes

2020 was a big year for the marijuana industry. As the COVID-19 pandemic led to shutdowns across the country, many states labeled their marijuana dispensaries as “essential businesses,” allowing them to stay open during the stay-at-home orders. Despite their “esse... Kasia A. Parecki, JD

Mar/Apr 2021, Expert Notes, marijuana, audit, COVID-19, UNICAP, §280E, COGS, §263A, Colorado, SAFE Banking Act, MORE Act, cash-intensive business