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Timestamps 00:08 - Discussing the future implications of 280E in cannabis accounting. 02:55 - Kaix advocates for aggressive 471 C use to challenge 280E deductions. 07:50 - Discussion on 471A and 471C tax code provisions for businesses. 10:12 - Understanding 471C's significance in cannabis accounting challenges 280E. 15:15 - IRS implications on cannabis cost deductions remain unclear. 17:27 - Discussing IRS audits and the impact of 471C on cannabis businesses. 21:08 - Taxpayers using 471 C face IRS audit risks due to disclosures. 23:14 - Challenges with IRS audits and implications of Chevron's overruling on tax deductions. 27:19 - Discussion on cannabis rescheduling and 2016 DEA determination flaws. 29:26 - 2023 changes raise questions about 280E's application to marijuana businesses. 33:11 - Discussion on the flaws of the 2016 determination regarding federal cannabis regulations. 35:08 - Discussion on the impact of 280E and federal marijuana policy. 39:27 - Federal cannabis regulation challenges and industry evolution over the years. 41:22 - Court ruling supports 280E challenges but lacks finality. 44:57 - Discussion on Supreme Court's potential ruling on 280E and its constitutional implications. 46:57 - Tax implications for U.S. owners of undistributed foreign corporation income. 50:55 - Discussing inventory capitalization under IRC 471 and cost of goods sold. 52:52 - Challenges and strategies for navigating 280E tax issues. 56:52 - Good record-keeping is essential for taxpayer protection against audits. 58:48 - Assume IRS audits are likely, but refunds may be possible. 1:02:37 - Understanding the implications of 280E and 471C in cannabis accounting. 1:04:26 - Accurate accounting ensures compliance with 280E regulations. 1:08:07 - Discussing tax refund claims and resources for 471 SE regulations. 1:10:04 - Discussion on strategies to address challenges presented by 280E.

Timestamps 00:08 - Amanda Metzler discusses the merger of Oregon's cannabis trade associations for a unified voice. 02:34 - Discussion on Oregon's cannabis policy and legislative priorities for 2025. 04:53 - Advocating for farm-to-farm transfers to support small cannabis farms in Oregon. 06:57 - Oregon cannabis industry advocates for internal improvements and legislative support. 09:11 - Discussion on cannabis testing regulations and interstate commerce initiatives. 11:20 - Election outcomes dictate future of Oregon's cannabis industry. 13:37 - Advocating for cannabis market alignment with federal definitions in Oregon. 15:59 - Oregon's cannabis market needs legislative support for full agency participation. 18:03 - Investing in cannabis lobbying through trade associations benefits the industry.

Timestamps 00:04 - New beneficial ownership reporting compliance is required for businesses in 2024. 02:04 - Obtain FINCEN ID for beneficial owners over 25% ownership. 04:19 - Understanding compliance requirements for banking transparency and foreign accounts. 06:33 - File Form 8300 for cash transactions over $10,000. 08:46 - Overview of key tax compliance forms and requirements for businesses. 10:42 - Understand 1099 forms and the importance of accurate filing. 12:30 - Properly file 1099s with accurate W9 information to avoid IRS penalties. 14:27 - Importance of compliance with tax filings to avoid penalties.

Very helpful as I navigate (hastily) for a client. I appreciate both of you for doing this!

Thank you for hosting this session!

Thanks for the valuable info!

DOPE!

Great conversation guys. Indeed, we need to get the word out! We need to share the success stories and create new narratives around psychedelics in the mainstream.

Screw the government

None of it matters now.... everything Jesus and the bible said would happen is happening right now.... the rapture is going to happen soon....

Umm umm umm😂

🙌🙌🙌🙌

'Promo sm' 😓

too casual for me to want to consider. some seem like they're high tbh