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The Cannabis Accounting Podcast

The Cannabis Accounting Podcast

By DOPE CFO

The Cannabis Accounting Podcast discusses the ins and outs of cannabis/cbd/hemp accounting. Topics include 280E, chart of accounts, starting & growing your own firm, overcoming software challenges, and more! Looking to get into cannabis accounting? To learn more visit dopecfo.com.
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Ep. 141: Dealing with Burnout During Tax Time w/ Lauren Baptiste

The Cannabis Accounting Podcast Mar 25, 2024

00:00
36:21
Ep. 141: Dealing with Burnout During Tax Time w/ Lauren Baptiste

Ep. 141: Dealing with Burnout During Tax Time w/ Lauren Baptiste

On today's episode, we are excited to welcome Lauren Baptiste, the founder and CEO of Acheloa Wellness.

Lauren Baptiste is a corporate burnout turned coach and CEO. She serves ambitious women professionals as their go-to Burnout Expert. 

Before launching Acheloa Wellness, Lauren spent 13 years as a top performer at a Big Four Accounting Firm. She was always at the top of her earning bracket and was nominated a “Rising Star'' in the industry. However, her professional drive eventually landed her in the Emergency Room from workplace burnout. Lauren notes that it was the ultimate test of how hard she was willing to work for her career. 

Since then, she’s successfully guided hundreds of professional women through similar challenges at work and home. She offers a path to achieve your personal and professional goals without succumbing to burnout. 

In this episode, Andrew and Lauren discuss:

  • Lauren's story and how burnout landed her in the hospital
  • How Lauren founded a new company while applying the lessons she learned from burnout
  • Common symptoms of burnout
  • Strategies for accountants and business owners to avoid burnout (while being massively successful)
  • How to find calm amidst the chaos of our busiest seasons at work
  • How women can find balance in their life and still achieve their career aspirations

Lauren shared this guide to setting healthy boundaries for our listeners. If you'd like to learn more about Lauren and her work, you can visit her website and connect with her on social media (Instagram and LinkedIn).

Mar 25, 202436:21
Ep. 140: Value Pricing vs. Hourly for Cannabis Accounting Services

Ep. 140: Value Pricing vs. Hourly for Cannabis Accounting Services

In this episode of the DOPE CFO Cannabis Accounting Podcast, Andrew Hunzicker, CPA dives deep into the debate of value pricing versus hourly billing for Cannabis accounting services. Andrew argues that in today's competitive landscape, accountants must move beyond basic bookkeeping, payroll, and tax prep services to provide real value to clients.

As AI and offshore labor continue to commoditize traditional accounting tasks, the key to thriving in the Cannabis niche is to become an indispensable, full-service CFO. Andrew shares strategies for specializing deeply in the unique challenges of the Cannabis industry, from navigating complex regulations to managing rapid growth.

You'll learn how to provide CFO-level advisory services that go beyond mere number crunching, how to become your client's trusted right hand, and how to continuously raise your fees to match the value you deliver. Andrew also discusses the importance of having a robust set of Cannabis-specific tools, work papers, and best practices, as well as tapping into a community of industry experts.

If you're an accountant looking to break into the exciting world of Cannabis accounting or take your existing practice to the next level, this episode is a must-listen. Tune in now and discover how to ditch the hourly grind and build a thriving, value-focused cannabis accounting business.

Mar 09, 202412:13
Ep. 139: A Look at 2024 Rescheduling: Brace for Impact

Ep. 139: A Look at 2024 Rescheduling: Brace for Impact

Massive changes are coming that could rock the Cannabis industry to its core.

With Cannabis potentially being rescheduled in 2024, huge shifts are on the horizon that will transform the landscape:

● Company valuations poised to rise 5-10 times

● Increased access to banking, commercial lending, and bankruptcy protection

● Potential overhaul of interstate commerce, research, and new Cannabis medicines

● Complex effects on taxes, regulations, and local businesses

Whether you are an investor, business owner, accountant, or looking to enter the industry, you'll need the facts on what rescheduling and descheduling Cannabis will actually mean.

Get the exclusive insights from Cannabis accounting expert Andrew Hunzicker, Founder and CPA, during this timely podcast epsiode where you'll discover:

● What rescheduling would actually mean—hint: higher company valuations

● The immediate and long term impacts across the industry landscape

● Exactly how to position your business or investments now for massive growth

Feb 27, 202427:44
Ep. 138: The Cannabis, CBD, & Hemp Industry: 2023 In Review & Looking Ahead to 2024

Ep. 138: The Cannabis, CBD, & Hemp Industry: 2023 In Review & Looking Ahead to 2024

As 2023 drew to a close, monumental shifts across the Cannabis landscape set the stage for an epic 2024. Tune in as we provide an exclusive year in review for 2023, analyzing the developments in policy, business, and finance that will shape the future of the industry in 2024 and beyond.

We’ll discuss insights on:

  • New states that legalized and their market potential

  • The latest federal reform efforts in Congress post-midterms, including the prospect of of federal legalization and what that means for the industry at large

  • Recap of the deals and trends that defined cannabis in 2023

  • Our projections for 2024

Whether you are an investor or operator, this podcast will equip you with our expert predictions of the trends ready to catalyze industry growth in 2024 and beyond.

Feb 12, 202444:01
Ep. 137: How to Access Capital in the Cannabis Industry w/ David Cunic

Ep. 137: How to Access Capital in the Cannabis Industry w/ David Cunic

On today's episode, we are excited to welcome Dr. David Cunic, the CEO of UCS Advisors.

David is a physical therapist turned Investor Relations and Networking Expert, particularly specializing in the Cannabis Industry and Healthcare Sector. With over 18 years in the medical field and an impressive entrepreneurial track record of starting over 10 companies, leading seven Cannabis businesses in the U.S., he has become an inspiration for entrepreneurs and business owners.

His academic foundation in physical therapy and healthcare management, combined with his hands-on experience in business development and capital fundraising, has positioned him as a pivotal figure for Cannabis companies aiming to reach new heights of success.

In today's episode, David and Andrew discuss: 

  • How he went from physical therapy to working in investor relations
  • His experience with entrepreneurship and how he started working in Cannabis
  • How to build an effective pitch deck and what to avoid when presenting to investors 
  • Current trends in investor markets and what has changed in recent years 
  • How accountants can help their clients achieve greatness in business and how to build confidence while raising capital in Cannabis

Dive right in with our much anticipated conversation with Dr. David Cunic.

Jan 29, 202449:27
Ep. 136: Weathering the Storm: Navigating the Cannabis Downturn

Ep. 136: Weathering the Storm: Navigating the Cannabis Downturn

With cannabis sales in a historic slump, companies are struggling with dwindling cash flows and tough decisions. In this episode, founder and CEO of DOPE CFO Andrew Hunzicker, CPA outlines smart strategic moves for staying afloat.

He'll cover:

  • How to determine your cash runway and optimal sources of capital in a restricted funding environment.

  • What costs must be cut vs. defensive investments to retain core capabilities.

  • Perspectives on assessing if it's time to wind down or exit altogether.

  • How to plan for the worst, yet operate with the best case scenario in mind.

Whether you're a cannabis entrepreneur or investor, this podcast will equip you with practical tips for managing through the downturn, so you can position your company to thrive once the market recovers.

The future of the industry is bright, but selectivity and savvy strategy are key to endure short-term storms.

Jan 15, 202411:15
Ep. 135: Leveraging the VIP Method to Become a 6-Figure Success w/ Erica Sloan

Ep. 135: Leveraging the VIP Method to Become a 6-Figure Success w/ Erica Sloan

In our latest episode of the DOPE CFO podcast, Andrew Hunzicker, CPA, Founder and CEO of DOPE CFO, talks with Erica Sloan, They spotlight her transformative journey as she’s successfully leveraged the DOPE CFO Certified Advisor Program and its VIP method to become a leading figure in Cannabis accounting and quickly built a 6-figure practice..

They discuss how the VIP method of the DOPE CFO Certified Advisor Program was pivotal in her rapid climb to a 6-figure Cannabis accounting practice. We'll take a deep dive and unpack the VIP system of becoming a valuable professional expert, instructor, and participant—that empowered Erica to move beyond traditional accounting barriers, land long-term, high-paying clients, and carve out a success niche in the Cannabis industry.

Through Erica's success story, we shed light on the proven route for other accounting professionals to build long-term client relationships and achieve sustainable success.

Listen in to get insight on proven methods for building a 6-figure accounting practice.

Jan 01, 202424:06
Ep. 134: Top Keys to Raising Capital in the Cannabis/CBD/Hemp Niche

Ep. 134: Top Keys to Raising Capital in the Cannabis/CBD/Hemp Niche

Cannabis and hemp/CBD are both nearing $1 billion markets in several states. In a few short years, both Cannabis and hemp/CBD could overtake the $250 billion alcohol market, skyrocketing to possibly $1 trillion by 2027 (estimate from Merida Capital). Interested investors are watching these markets. Preparing startups now to raise capital could help your clients stake a substantial claim in this booming industry.

Accounting professionals can learn how companies raise capital and add immense value to their services by helping startups and growing businesses appeal to investors for funding.

On our latest podcast, we share insights from our CEOs years of working as an accountant in the cannabis space.

Dec 19, 202301:04:51
Ep. 133: Accountants - Master Cannabis Cultivation Science to Unlock Hidden Profits w/ Wally Daniel, MS

Ep. 133: Accountants - Master Cannabis Cultivation Science to Unlock Hidden Profits w/ Wally Daniel, MS

There’s hidden profit in Cannabis cultivation, and you can find it if you’re a trained accounting professional that understands the science. 

In our latest podcast episode, Andrew Hunzicker, CPA and special guest Wally Daniel unpack the intricate world of commercial Cannabis cultivation. With decades of combined horticulture, lean manufacturing, and accounting experience, Wally has been an integral asset to many successful Cannabis ventures.

Wally and Andrew cover a lot during the podcast including…

  • The grow cycle from propagation to harvest

  • Key metrics for operational efficiency and cost management

  • Realistic financial modeling

  • Improving product quality

  • Appropriate software tools and…

  • Value proposition of working closely with specialists like himself and properly trained accountants

This episode is essential listening for CPAs aiming to provide maximum value to their Cannabis farm clients through granular cost accounting, benchmarking, and identifying profit optimization opportunities. Roll up your sleeves for an in-depth discussion among the top professionals in the industry!

Dec 04, 202354:38
Ep. 132: The Ins & Outs of Categorizing Inventory for Cannabis Companies

Ep. 132: The Ins & Outs of Categorizing Inventory for Cannabis Companies

Are you navigating the complexities of Cannabis inventory accounting?

Properly handling your clients' inventory is critical in this rapidly growing industry — one error can mean the difference between adding value or harming a business’ bottom line. Tune into our next episode where we'll cover all the critical processes and best practices accountants need to utilize..

We’ll dive deep into the essential elements required for effective inventory accounting and discuss the seed to sale process, Internal Revenue Code 471, and introduce important practices to set yourself apart in this niche.

You’ll learn about cost accounting tools and processes, tackle specifics for delivery and lab subniches, and understand the art of cost determination, including how to discern fixed versus variable costs.

This episode offers accountants a great opportunity to sharpen their skills and gain vital insights, enabling them to provide exceptional value and drive the success of their Cannabis business clients.

Tune in!

Nov 21, 202301:02:03
Ep. 131: Valuation of Cannabis Companies - An Accounting Perspective

Ep. 131: Valuation of Cannabis Companies - An Accounting Perspective

Got questions on valuation in the Cannabis industry? Get answers in our latest podcast!

We cover everything from explaining what valuation is to delving into different valuation methods and the factors that affect valuation. We even discuss how to ask your clients the right questions to ensure you take a suitable approach to helping them meet their business goals and objectives.  

When you understand the different kinds of valuations and know what it takes to support your clients’ top-level needs, you can provide the World Class service that sets you apart from the rest. 

Here are just a few of the key uses of valuation we’ll be covering:

  • Raising capital for startups
  • Existing company needing a bank loan

  • M&A support for sale of existing company

  • Litigation: among partners, co-founders, investors, divorces, and more

  • Tax and estate planning 

Join DOPE CFO founder and leading Cannabis accounting expert Andrew Hunzicker, CPA, for this podcast: “Valuation of Cannabis Companies - An Accounting Perspective.” Our latest podcast is chock full of valuable information you can’t get anywhere else, so listen in and prepare to take notes.

Nov 06, 202358:47
Ep. 130: 3 Myths Cannabis Business Owners Believe About Accounting

Ep. 130: 3 Myths Cannabis Business Owners Believe About Accounting

The Cannabis industry is ablaze with myths that could leave business owners burned, especially when it comes to the tricky world of accounting and bookkeeping. As an accounting pro, are you ready to fan the flames of truth and help your clients soar without getting singed? Debunking common misconceptions allows you to better serve your clients, keeping their businesses both compliant and profitable.

Slip-ups in tax codes, or getting twisted up in regulations? Time to clear the smoke. ☁️

🟢 Myth #1 - Cannabis companies don’t need complex cost accounting processes, a permanent audit trail, proper support, or tax liability relief via 471-11. — Falling for this one could cost your clients major tax deductions and land them in hot water with the IRS.

🟢 Myth #2 - We can handle all of the regulatory compliance issues in-house. — Believing in this myth negates the complexity of the industry, leaving your clients susceptible to fines, penalties, loss of licenses, and possibly criminal charges.

🟢 Myth #3 - Just because a Cannabis business has high revenue, their net income must be high as well — Reality check! This illusion overlooks the massive operational costs, regulatory compliance expenses, and unique challenges businesses face in the industry.

Listen  to our latest podcast episode, 3 Myths Cannabis Business Owners Believe About Cannabis, to hear DOPE CFO Founder Andrew Hunzicker, CPA, smoke out these myths, keeping your knowledge fresh and your clients thriving.

Don’t miss this opportunity to sharpen your industry expertise!

Oct 23, 202313:01
Ep. 129: Cannabis CEO’s Guide To Cash and Cash Flow Forecasting

Ep. 129: Cannabis CEO’s Guide To Cash and Cash Flow Forecasting

Until the SAFE Banking Act passes, the number of banks across the country that will service the Cannabis industry remains desperately low. Cannabis is currently classified as a Schedule 1 drug, and most banks won’t do business with Cannabis companies because of this. Not being able to open payroll or checking accounts (or borrow money to scale their business) leads most Cannabis businesses to constantly have massive amounts of cash on-hand.


Cannabis businesses have to watch their cash flow very closely if they want to stay in business. Most companies are flying blind and making purchasing decisions based on what they see in the safe (or in the bank account if they are lucky enough to be able to open one). Relying on the cash you have in-hand, rather than the business’ cash flow, can make it difficult to properly plan and forecast payroll and pay taxes. Paying taxes with big bags of cash is not only a terrible business practice, but it leaves them more vulnerable to theft or burglary.


We invite you to tune in to our latest podcast episode, Cannabis CEO’s Guide To Cash and Cash Flow Forecasting, to learn more about how having cash controls in place will not only make Cannabis companies safer, but also more efficient.


DOPE CFO Founder Andrew Hunzicker, CPA covers:


🟢 What cash flow is, and why it’s important to your success.

🟢 Cash controls, and how to make sure you protect this crucial asset.

🟢 How to properly project cash flow.

🟢 Tools you need to manage cash flow.

🟢 Ways to improve cash flow.

…and more!


Oct 09, 202341:52
Ep. 128: How to Properly Adhere to 280E to Reduce Tax Liability for Cannabis Companies

Ep. 128: How to Properly Adhere to 280E to Reduce Tax Liability for Cannabis Companies

Cannabis businesses who try to get creative to circumvent 280E often find themselves in precarious positions with the IRS. Since companies in the Cannabis industry are not able to legally take tax deductions due to its classification as a Schedule 1 drug, many try to get around 280E by setting up multiple entity structures to attempt to create partitions within their corporations, or use IRC 471 incorrectly, to take deductions like businesses in other industries. Tax courts have ruled against these techniques time and time again.

Minimizing tax liability while being subject to 280E doesn’t need to cause anxiety or fear if done correctly!

On this episode of The Cannabis Accounting Podcast, attorney Nick Richards, partner and co-chair of the Cannabis Law practice group at Greenspoon Marder, LLP, and DOPE CFO Founder Andrew Huzicker, CPA discuss how businesses may benefit from using tax code 471-C when doing their taxes, using Capital Asset Theory to treat costs under 280E as capital assets (under the 16th Amendment of the Constitution), and ways to take expenses at exit (even under 280E).


Sep 25, 202352:01
Ep. 127: How to Get the Most Out of Attending Cannabis Events w/ George Jage

Ep. 127: How to Get the Most Out of Attending Cannabis Events w/ George Jage

Participating in the Cannabis industry by going to conferences and expos is a great way to meet the people who make the businesses in this space tick, as well as get information on where the industry might be headed in the future. 

Attempting to break the mold set by other Cannabis conventions, MJ Unpacked is a distinctive event for nationwide license holders and accredited investors to connect, collaborate, and prepare for expansion. Attendance is exclusive to cannabis retail and brand executives, with the title manager and above and investors actively investing in the space. While most expos focus on services or products surrounding the industry, MJ Unpacked saw a need for a space where Cannabis business executives could meet and mingle with investors who are looking to enter the space or expand their portfolios.

A unique venture in the world of Cannabis conferences, MJ Unpacked helps put Cannabis business owners and executives in the same room with accredited investors who want to find companies that are looking for capital to fund a startup, or raise money to scale an existing operation. Attendance at MJ Unpacked events is exclusive to Cannabis retail and brand executives, and investors that have been actively operating in the industry, so there is a stronger concentration on building businesses at these conferences, as opposed to products or services.

In our latest podcast episode, MJ Unpacked Founder and CEO George Jage provides insight on what Cannabis investors are looking for in potential business partners, how MJ Unpacked is changing the Cannabis industry, and the ways that expo attendees can make the most out of their networking time at Cannabis events!

The next MJ Unpacked happens in Detroit from October 10th-12th.


Sep 11, 202336:13
Ep. 126: How to Build a Successful Cannabis/CBD Accounting, Tax, and CFO Firm

Ep. 126: How to Build a Successful Cannabis/CBD Accounting, Tax, and CFO Firm

If you are frustrated in your current career position, are sick of working long hours for little pay, or  have been considering launching your own remote accounting firm and are wondering what niche to serve, now is the time to dive in! Cannabis has been predicted to produce over $30 Billion in revenue in 2023, and is the fastest growing industry in the US.

DOPE CFO has all of the training and tools you need to successfully start your own remote Cannabis accounting/CFO firm and help you land high-paying clients that will appreciate the work you do and the value you offer.

In this podcast episode, DOPE CFO Founder Andrew Hunzicker, CPA covers:

◾ The Industry, the Verticals, & the Complexity 

◾ The Formula for Becoming a “VIP” (Valuable Expert, Instructor, Participant) in the Fastest-Growing Niche in the US

◾ Why Bookkeeping and/or “Fractional CFO” Solutions Don’t Work

◾ How to Build a Fully-Remote 1-Person $6–$7 figure firm with less than 5 clients

◾ Developing a Marketing System to Close 6-Figure Clients: our proven 4-part system shows you how to find and close great clients (even if you can’t stand marketing or advertising yourself)

◾ 5 Keys to Building the Foundation of Your Firm: including tools and workpapers you need, marketing tools, skills and education, community of experts, what a typical “day in the life of CFO” looks like, and every single thing you need to build your successful firm



Aug 28, 202353:57
Ep. 125: How to Get Tax Reductions Right When Most Cannabis Businesses Get Them Wrong

Ep. 125: How to Get Tax Reductions Right When Most Cannabis Businesses Get Them Wrong

Want legal and compliant tax reductions? Listen to podcast episode 124 as the nation’s leader in Cannabis accounting, Andrew Hunzicker, CPA, founder of DOPE CFO, explains exactly what must be in place to properly reduce tax liability. 

Takeaways from landmark cases Harborside and Champs are discussed, as well as the following: 

✔️ Entity structures - What nearly everyone gets wrong!

✔️ IRC 280E - What it says, how it’s commonly misinterpreted, and what the Harborside ruling shows us.  

✔️ IRC 471-11 - How 99% of Cannabis growers, manufacturers, and processors are leaving hard-earned dollars on the table. 

 Get clear, concise information you can’t get anywhere else. 🎧 Listen to this 10-minute episode “How to Get Tax Reductions Right When Most Cannabis Businesses Get Them Wrong” and get to properly lowering that tax liability now!



Aug 14, 202309:49
Ep. 124: Reforming Cannabis Policy Statewide & Nationwide with NCIA—Why Accountants Must Be Part of the Change w/ Aaron Smith of NCIA

Ep. 124: Reforming Cannabis Policy Statewide & Nationwide with NCIA—Why Accountants Must Be Part of the Change w/ Aaron Smith of NCIA

If you’re done with jumping through seemingly endless regulatory hoops and compliance standards and want policies that make sense for Cannabis businesses, participating in groups that shape policy is how you become part of the solution.  

Be part of the change by helping to create policies that work for today’s Cannabis industry businesses! In our latest podcast episode, we’re speaking with—co-founder and CEO of the National Cannabis Industry Association Aaron Smith—on 280E, The SAFE Banking Act, and how today’s accounting professionals can get involved in enacting sensible policy reforms at the federal level and state by state.



Jul 31, 202327:38
Ep. 123: Life Grows Green Founder Chad Price on CBD Wellness, eCommerce, Building & Scaling, & more!

Ep. 123: Life Grows Green Founder Chad Price on CBD Wellness, eCommerce, Building & Scaling, & more!

We’re talking with veteran founder/entrepreneur Chad Price of Life Grows Green on transforming the negative stigmas associated with Cannabis and serving the wellness space, what the licensed Cannabis industry can learn from the sports industry, how accountants can better serve Cannabis/CBD founders, and more!

Jul 17, 202325:27
Ep. 122: The Quick Guide to Cannabis Bookkeeping

Ep. 122: The Quick Guide to Cannabis Bookkeeping

Ever hear the saying, “You don’t know what you don’t know”? When performing bookkeeping for Cannabis clients, what you don’t know can have dire consequences. Even performing seemingly mundane tasks the same way you would for non-Cannabis clients can be a move in the wrong direction. Cannabis bookkeeping is unique. Properly doing it requires knowledge, not guesswork.

Get informed so that you can do things properly and provide your clients with unquestionable value. 

It’s all here in our quick episode that’s packed with quality information on Cannabis bookkeeping!


Jul 03, 202310:52
Ep. 121: How Utah’s Licensee-First Policies Are Creating a More Viable Medical Cannabis Industry

Ep. 121: How Utah’s Licensee-First Policies Are Creating a More Viable Medical Cannabis Industry

In this episode of The Cannabis Accounting Podcast we’re talking with Alyssa Smailes, Executive Director of The Utah Cannabis Association. We’ll discuss how UCA is building consensus with medical practitioners and serving as the voice of the Utah Cannabis industry, learn more about on-the-ground regulation and legalization, discuss medical vs. recreational accounting differences, the Utah market, and more, so tune in!

Jun 19, 202335:01
Ep. 120: Cannabis Dispensary Accounting & Tax

Ep. 120: Cannabis Dispensary Accounting & Tax

Accountants who are in over their heads when it comes to Cannabis dispensary accounting can cost the business dearly simply because they don’t know how to do the work properly. 

Dispensary CEOs and operators who rely on inexperienced accountants or accounting teams are unknowingly putting themselves at risk of hefty fines or even being shut down for not following IRC 280E.

In Cannabis, the right accounting procedures need to be put in place on a daily, weekly, monthly, and annual basis. Consistent and correct accounting—not strategies to beat 280E—are what make the difference. 

In this podcast episode, DOPE CFO founder, Andrew Hunzicker, CPA, covers:

  • Important tax codes and how to navigate them

  • 471 - what it says, and how to correctly apply both GAAP and Tax, particularly for retailers

  • Ideas for how to manage from an accounting viewpoint and “how to make it all work”

  • Key court cases and what they mean for Cannabis companies

  • Complex legal entity structures and other “games” to avoid

...and more!

There’s lots to learn, so listen in and learn up!


Jun 05, 202332:19
Ep. 119: Being a Legacy Grower, Vertical Integration, & Craft Cannabis with Lindsey Renner

Ep. 119: Being a Legacy Grower, Vertical Integration, & Craft Cannabis with Lindsey Renner

Lindsey Renner, owner of Native Humboldt Farms, is the first enrolled tribal member to gain licensure in California in 2018. In this podcast episode we discuss Lindsey’s journey into Cannabis (including the devastating loss that preempted changes in the direction of the company), talk compliance complexities, craft Cannabis, the work she’s doing in issues of tribal sovereignty and cultivation, and more!

May 22, 202338:56
Ep. 118: Entity Structure for Cannabis Companies

Ep. 118: Entity Structure for Cannabis Companies

Cannabis investors, CEOs, CFOs, accounting professionals, and entrepreneurs need to understand their options when it comes to choosing their entity structure, and yes—certain key concerns are unique to the niche.

In this 24 minute podcast episode, DOPE CFO founder, Andrew Hunzicker, CPA, goes over applicable tax codes and common entity and funding structures, including the following:

◾ The pros and cons of C Corps, LLCs, etc.

◾ Multi-entity structures

◾ Owner and investor goals (asset protection versus tax minimization)

◾ Corporate structure and legal docs 

◾ Compliance 

◾ Key startup considerations

◾ …and more!

In an industry where trouble seems to loom around every corner, from confusing tax codes to vague advice, being informed is of paramount importance. Get in the know so you won’t be blindsided by personal tax liabilities and financial exposure.


May 08, 202324:33
Ep. 117: Banking in the Cannabis Industry

Ep. 117: Banking in the Cannabis Industry

Banking in the Cannabis industry is a biggie! We get into it with banking expert and DOPE CFO Certified Advisor—Cassidy McFarland, CPA. From his take on the recent bank collapses to risk mitigation, dealing with audits, and what most bankers want to see in startups’ pitch decks and financial models, listen in as we cover the solutions you can apply to keep yourself and your clients out of hot water.

Apr 24, 202342:19
Ep. 116: Tips for Pricing Your Cannabis Accounting Services

Ep. 116: Tips for Pricing Your Cannabis Accounting Services

Top-tier Cannabis accountants want to provide their clients with maximum value and get paid fairly for the hard work and expertise they provide. In this 10-minute podcast episode, DOPE CFO founder, Andrew Hunzicker, CPA, goes over key considerations you need to make to adequately price your accounting services, including whether or not to take equity in lieu of payment.  

From setting your rate to meet current needs as well as future growth, to providing clients with undeniable benefit, to the five value drivers of World-Class Cannabis accounting—and why you should never ask those potential clients what they need—Andrew gets into all of it! Prior to sending out one more engagement letter, get the lowdown so that you can set yourself up for success.

Apr 10, 202309:35
Ep. 115: The Grower’s Guide To Cannabis Cultivation Accounting & Tax

Ep. 115: The Grower’s Guide To Cannabis Cultivation Accounting & Tax

Despite the fact that state-mandated seed-to-sale tracking software is notoriously buggy and local rules and regulations add an enormous amount of complexity to licensed Cannabis cultivation farms and grow rooms, cultivators are still required to follow the rules, accurately report everything on-time, pay their taxes, and more.

Whether you’re a cultivator or an accountant who wants to gain an understanding of how to properly serve clients in this space, in 30 minutes, The Grower’s Guide To Cannabis Cultivation Accounting & Tax shines a light on the various components you need to consider in this vertical.

Mar 27, 202331:27
Ep. 114: Let’s Talk About Depreciation in the Cannabis Industry

Ep. 114: Let’s Talk About Depreciation in the Cannabis Industry

Take the time, spend the energy to learn things well and your clients will appreciate the expertise you provide. Depreciation in Cannabis? Few accountants in the Cannabis niche know how to utilize it correctly.

280E says it’s illegal to take deductions, including depreciation. We can, however, depreciate inventoriable goods, which can then be rolled into COGS and used as a reduction… if you understand the rules AND you do “GAAP” level cost accounting!

Learn more in this 10-minute podcast episode!

Mar 13, 202310:58
Ep. 113: 5 Questions Accountants Should Ask Cannabis Business Owners

Ep. 113: 5 Questions Accountants Should Ask Cannabis Business Owners

Never position yourself as a yes person or bean counter, but as a potential partner in the success of the Cannabis businesses you work with. Asking the right questions is one easy and effective way to demonstrate your knowledge of Cannabis accounting.

So what questions should you ask? In episode 113, DOPE CFO founder, Andrew Hunzicker, CPA, tells you the 5 questions you need to ask to flip the script with potential clients. Get the lowdown in less than 20 minutes, and add one more powerful tool to your toolkit.

Feb 27, 202316:47
Ep. 112: Cannabis Delivery Services & 280E

Ep. 112: Cannabis Delivery Services & 280E

If your client or company delivers products to and from farms, dispensaries, and/or end users, you need to listen to this episode.

Anyone touching or taking possession of the plant is likely subject to 280E… but there are complexities. Learn what those are since those found in violation of 280E could face hefty fines and penalties for improper deductions, and owe thousands in back taxes.

DOPE CFO founder, Andrew Hunzicker, CPA, addresses the complexities involved in Cannabis delivery services and similar operations and IRC 280E. Get an overview of the situation in this 6-minute episode.

Feb 13, 202312:56
Ep. 111: Managing Anxiety in Cannabis Accounting

Ep. 111: Managing Anxiety in Cannabis Accounting

Did you know anxiety is actually really common in the accounting industry? Forget the shame and forget just powering through it. Learning how to manage it is key for landing potential clients as well as improving your quality of life, growing confidence, and working through stressful or anxiety-triggering situations.

In this special episode, DOPE CFO founder, Andrew Hunzicker, CPA, gets actionable tips straight from DOPE CFO member, Sean Yoder, CFO, who deals with anxiety on a day to day basis.

Jan 30, 202335:11
Ep. 110: Cannabis Valuation 101
Jan 16, 202358:26
Ep. 109: Real Estate in the Cannabis Industry: What Accountants Need to Know

Ep. 109: Real Estate in the Cannabis Industry: What Accountants Need to Know

Real Estate in the Cannabis Industry: What Accountants Need to Know

Whether clients are starting an indoor farm, outdoor farm, dispensary, or processing facility, real estate is a very real concern for Cannabis businesses.

We’ll go over what you need to know including:

  • Is it better to rent or own?
  • Commercial property owners’ and potential banking issues.
  • Landowners’ main concerns when leasing to Cannabis companies.
  • Entity considerations
  • How 280E affects leasing and buying real property
  • What 280E does NOT do

In less than 13 minutes get a solid overview of what you need to know and consider when it comes to renting or buying space for businesses in this niche market. Learn up with DOPE CFO and serve clients in this fast-growing industry that's projected to hit $72 billion by 2030 (Forbes 2022).

Jan 02, 202312:19
Ep. 108: Cannabis Licensure & Social Equity in New York

Ep. 108: Cannabis Licensure & Social Equity in New York

Do you have questions on how Cannabis licensure and social equity are being handled in New York? Tune in! DOPE CFO VIP member, Allison Kirchhofer, CPA, MBA, gives the lowdown on what’s going on in the massive Empire State that’s “legalizing it” in some unique ways.

Cannabis accountants, social equity applicants, and anyone looking to get involved in the licensed Cannabis industries in this massive state needs to get the lowdown on what’s happening on the ground. There’s a lot to learn, so get ready to take notes!

Connect with Allison Kirchhofer, CPA, MBA:

Accounting by Design: http://accountingbydesign.cpa

New York Consortium of Cannabis Accountants: https://www.nycca.org

Dec 19, 202246:41
Ep. 107: GAAP Accounting & How it Applies to Cannabis Accounting

Ep. 107: GAAP Accounting & How it Applies to Cannabis Accounting

Cannabis Businesses & Cannabis Accountants—Knowing & Doing GAAP Accounting properly is how you show your value! It’s a shame so few of today’s CPAs and accountants know how GAAP applies to Cannabis accounting.

Get the lowdown on what 471-11 really means, what you can and cannot put into it, accounting for the different Cannabis verticals (cultivation/growing, processing/manufacturing, retail, delivery), why doing GAAP is essential in the Cannabis industry, and more! Get compliant and don’t leave opportunity on the table.

Dec 05, 202208:50
Ep. 106: Betsy Morem & Mark Waller Share Their Tips on Bookkeeping (Right) for the Cannabis Industry

Ep. 106: Betsy Morem & Mark Waller Share Their Tips on Bookkeeping (Right) for the Cannabis Industry

Betsy Morem & Mark Waller of Morem & Waller CPAs, PLLC. have advice on bookkeeping for today’s Cannabis businesses and staying sane in the process! Learn how to fix (and prevent) those common bookkeeping blunders, remain 280E compliant month after month, get your clients to participate in their accounting successes, and position yourself as a valuable ally in your clients’ success!

Nov 21, 202242:43
Ep. 105: Surviving an IRS Audit in the Cannabis Industry

Ep. 105: Surviving an IRS Audit in the Cannabis Industry

In just 15 minutes, DOPE CFO founder, Andrew Hunzicker CPA, makes quick work of showing how most do Cannabis business accounting 100% wrong, and explains the approach to getting Cannabis businesses set up correctly and making them audit-ready month after month.

Nov 07, 202214:28
Ep. 104: Cannabis Accountants & Businesses—Want Depreciation? Here’s What You Need to Do!

Ep. 104: Cannabis Accountants & Businesses—Want Depreciation? Here’s What You Need to Do!

Has depreciation for Cannabis businesses got you confused? Whether you’re an accountant or CPA serving Cannabis clients, or the CEO/founder of a legal Cannabis company, we've got straightforward information on depreciation and 280E and 471-11. Get informed about the applicable Internal Revenue Codes (IRCs), learn which common mistakes to avoid, and understand the logic behind all of it.

Oct 24, 202210:44
Ep. 103: Fraud Examiner David Lewis Talks Internal Controls and Corporate Governance for Cannabis Businesses

Ep. 103: Fraud Examiner David Lewis Talks Internal Controls and Corporate Governance for Cannabis Businesses

Cannabis Businesses & Cannabis Accountants— Knowing corporate governance, having internal controls & accounting policies is SUPER important for all companies, but especially Cannabis companies, so tune in to learn how to reduce the possibility of fraud!

Oct 11, 202212:53
Ep. 102: Expert Advice on Cannabis Licensing from Bridge City Collective Co-Founder David Alport

Ep. 102: Expert Advice on Cannabis Licensing from Bridge City Collective Co-Founder David Alport

Bridge City’s David Alport talks Cannabis licensing (transportation, cultivation, retail), licensing in various states, where things are headed (interstate, rollups), shares Cannabis startup marketing advice, and more. Unique info you need on your radar is here, so tune in!

Sep 26, 202234:09
Ep. 101: How to Grow Your Practice in New & Emerging Legal Cannabis States w/ Rick LaNeve
Sep 13, 202231:36
Ep. 100: Looking into the Future of Cannabis Accounting and DOPE CFO

Ep. 100: Looking into the Future of Cannabis Accounting and DOPE CFO

With even the most anti-Cannabis states coming around to legalization, the industry's future is bright -and profitable.


The Cannabis space has changed dramatically since the first states voted for legalization back in 2012. In the 100th episode, DOPE CFO founder Andrew Hunzicker, CPA and leaders of the DOPE CFO Certified Advisors Franchise David Lewis, Raymond Guns, and Kristi Kem highlight the industry’s progression. Listen in to hear more about navigating future hurdles and how you can take advantage of the upswing by jumping in now.

Aug 29, 202239:50
Ep. 99: Cashless ATMs & Other Illegal Merchant Services in the Cannabis Industry
Aug 15, 202216:05
Ep. 98: Behind the Scenes: AICPA & CIMA Cannabis Industry Conference 2022

Ep. 98: Behind the Scenes: AICPA & CIMA Cannabis Industry Conference 2022

Can you believe how far the Cannabis industry has come? Last year the AICPA (American Institute of Certified Public Accountants) recognized the industry with a few sessions at one of its conferences. This year the AICPA and CIMA have dedicated an ENTIRE conference to all things Cannabis accounting, and the DOPE CFO team is at the forefront with FOUR sessions during the 3-day event!

The move towards legalization in states over the last few years has brought involvement from many different areas, so this year’s Cannabis conference is bringing together a wider range of Cannabis experts. Attendees can expect to hear from CPAs from firms big and small as well as experienced CPAs turned instructors and Cannabis attorneys who have valuable perspectives on the industry.

The DOPE CFO team has become well known in the industry, and they’ll be offering sessions on some of the most pressing topics such as raising capital, banking, costing, technology, risk mitigation, and more. We’ll be sharing our experiences - maybe even some horror stories - to help those who are interested in or just getting started in Cannabis accounting.

The team will be hosting sessions that…

🌱 Provide basics to help accountants truly get to know their clients so they can build a strong firm

🌱 Guide newcomers on how to adopt a Cannabis accounting mindset

🌱 Discuss ways to legally raise funding

🌱 Detail how to get a position in the private sector

🌱 Offer a chance for closer networking through fireside chats where attendees can ask questions from industry experts

While we’re busy getting ready for this year’s Cannabis conference, head over to the AICPA & CIMA Cannabis Industry Conference page to register to attend. Use the code CAN2022 for discounted admission.

Click here for more information and to register for the conference.

To learn more about our Cannabis accounting program, check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.”

🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo

🌿Say HEY On Social:

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YouTube: https://www.youtube.com/c/dopecfo

Aug 01, 202210:02
Ep. 97: How Investors Can Avoid Personal Tax Doom

Ep. 97: How Investors Can Avoid Personal Tax Doom

There’s risk and then there’s calculated risk.

The calculated risk we were referring to on this episode of the Cannabis Accounting Podcast is the investments that require deep research into the past, present, and future of a company before deciding to go forward. And though many veteran investors can easily tell the difference, even seasoned investors find themselves with losses investing in the Cannabis industry.

From tales of investors who have invested over $2 million without seeing any kind of return to investors whose shares of a company don’t allow for any input in a business’ controls, we’ve seen plenty of people with solid investment choices who suffered major losses.

There are ways to avoid such negative outcomes, and fortunately for investors, the red flags that spell financial disaster when investing with a Cannabis company can often be spotted early on.

Here are some things to consider before deciding whether to invest with a Cannabis company:

🍃 The glory of the C-corp: This entity structure makes it much easier to raise capital and has better asset protection for the company. Most importantly, this structure purposely separates investors from their business investments, meaning investors cannot be individually audited.

🍃  The LLC risk factor: Unlike a C-corp, this entity structure throws open the door for all investors to be individually audited apart from the Cannabis business. If you’re set on investing with this type of Cannabis company, take extra precautions and make sure you have a voice in determining tax distributions and consult with a verified corporate tax attorney.

🍃  Tax regulations and procedures: Sure, you may not be the one to set up those corporate governance guidelines and internal controls (it’s best to trust a trained Cannabis accountant to put these in place), but it doesn’t mean your voice doesn’t count. As an investor, it’s your right to see that the business you’re investing in is following all tax protocols by the book–trouble for the company spells trouble for you (especially if that company is an LLC).

To learn more about our Cannabis accounting program, check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.”

🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo

🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo

Jul 18, 202211:58
Ep. 96: Your First Year As A Cannabis Accountant
Jul 04, 202218:26
Ep. 95: Get More Exposure For Your Firm As A Conference Speaker

Ep. 95: Get More Exposure For Your Firm As A Conference Speaker

What if you could take your business further using what you ALREADY know about accounting? One of the best ways to keep your business growing is to share your knowledge by speaking at conferences and events. Events are prime locations to make valuable network connections, learn, and gain added exposure for your business, so whether you’re a Cannabis accounting expert or relatively new to the field, speaking on stage is something all levels should consider.


We know the thought of public speaking may have some people adamantly shaking their heads, but don’t shy away. The best part of presenting at Cannabis conferences is being surrounded by like-minded people who are all there for the same reason: to learn and grow together.


Tune in to Episode 95 to hear our founder Andrew Hunzicker, CPA along with special guest, expert Cannabis accountant Raymond Guns, CPA at 1st Choice CPA, to walk us through his accounting experience and explain how he began booking events early on in his journey into the niche Cannabis accounting world. We’ll dive into how your business can benefit from becoming a conference speaker and steps you can take to get started yourself.


To learn more about our Cannabis accounting program, check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.”


🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo


🌿Say HEY On Social:


LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo

Jun 20, 202223:07
Ep. 94: Harborside Case Review: Why Multiple Entities Won't Circumvent 280E

Ep. 94: Harborside Case Review: Why Multiple Entities Won't Circumvent 280E

Setting up multiple corporate entities for the sole purpose of getting around 280E will lead to a ton of trouble with the IRS. Just ask the folks over at Harborside.


The (still) ongoing Harborside case has taught us how the IRS views using multiple entities to take tax deductions for a Cannabis business, whether that entity is attached to or separate from the Cannabis operations. By trying to be clever and get around 280E, Harborside has now put itself in the position of potentially having to pay a cool $11 million in back taxes.


Harborside even tried to fight the constitutionality of 280E… and lost the appeal.


Our latest podcast episode, “Harborside Case Review: Why Multiple Entities Won't Circumvent 280E,” explores exactly where it all went wrong for Harborside and what we can do as accounting professionals to protect our Cannabis clients and their businesses.


Topics include:

🟢 A brief overview of the Harborside case.

🟢 Why using Harborside’s multi-entity corporate structure to take (illegal) tax deductions won’t fly during an audit.

🟢 Minimizing tax liability while still adhering to 280E.


CLICK HERE to grab your FREE “Ultimate Guide to Entities and Funding Structures in Cannabis!”


🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo


🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo

Jun 06, 202214:10
Ep. 93: How can licensed Cannabis businesses prevent raids over unpaid taxes?

Ep. 93: How can licensed Cannabis businesses prevent raids over unpaid taxes?

Two licensed dispensaries were raided last month by the California Highway Patrol, with the California Department of Tax and Fee Administration on standby, to collect overdue state tax payments. The officers walked out with a couple of six-inch-high stacks of cash, but there is more to this story than a modern-day western holdup. 

In our latest episode of the Cannabis Accounting Podcast, Andrew Hunzicker, CPA sits down with Daryl Jendras, CPA and managing director of Green Rush Tax PLLC. Daryl joins us with 30 years of state and local tax experience in corporate and public accounting settings with exposure to various industries throughout the US and Canada. Some have labeled him a ‘sales tax guru’ because of his track record of saving Cannabis businesses millions of dollars by understanding how to effectively work with the Department of Revenue.

In this episode, Andrew and Daryl discuss situations that have led to licensed Cannabis businesses being raided over unpaid taxes and how you can avoid a similar fate. You’ll learn important information regarding the following:

🌿 What a successful relationship looks like between a Cannabis accounting agency and the Department of Revenue.

🌿 Understanding why your agency receives automated notices from the Department of Revenue.

🌿 What happens when your agency and/or dispensaries ignore these notices.

🌿 What the consequences are for agencies and dispensaries that do not remit sales tax.

🌿 How voluntary disclosure agreements can help dispensaries secure payment plans for sales tax not remitted.

🌿 Understanding a dispensary’s sales tax liability when selling in multiple states.

Visit https://bit.ly/3pOebLO to grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.”

🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo

🌿Say HEY On Social:

LinkedIn: https://www.linkedin.com/company/dopecfo

Facebook: https://www.facebook.com/dopecfo

Instagram: https://www.instagram.com/dopecfo

Twitter: https://twitter.com/dopecfo

YouTube: https://www.youtube.com/c/dopecfo

May 23, 202226:36
Ep. 92: 4 Myths CEOs Believe About Cannabis Accounting
May 09, 202213:34