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Cannabis Tax and Bookkeeping Strategies

Mastering Cannabis Tax Strategies: Insights from Mike Goral

September 19, 2023 at 10 AM PT


Mastering Cannabis Tax and Bookkeeping Strategies with Mike Goral

If you’re working in the cannabis industry, there’s one thing you can’t afford to overlook—Cannabis Tax and Bookkeeping Strategies. As the market continues to grow, so do the layers of regulatory complexity. That’s why we’re bringing you a powerful and practical webinar featuring cannabis tax expert Mike Goral, who will share his unique insights on navigating taxation, compliance, and bookkeeping in this high-stakes industry.

This session is designed to give cannabis business owners, accountants, and financial professionals the tools they need to approach cannabis financial management with clarity and confidence. Whether you’re new to the space or looking to enhance your existing processes, you’ll walk away with actionable strategies grounded in real-world experience.

Why Cannabis Tax and Bookkeeping Strategies Matter

Cannabis companies operate under a microscope—one misstep in bookkeeping or tax planning can lead to significant penalties or worse. With federal restrictions like Section 280E and a patchwork of state-specific rules, your accounting strategies need to be airtight. This is where Cannabis Tax and Bookkeeping Strategies come into play—not just as a compliance tool but as a roadmap for sustainable growth.

In this webinar, you’ll hear directly from Mike Goral, a seasoned advisor who has helped cannabis companies nationwide manage their financials while navigating the evolving tax landscape. From real-world challenges to strategic solutions, Mike’s guidance will help you see the bigger picture and avoid costly mistakes.

What You’ll Learn

Here’s what you can expect during this in-depth session on Cannabis Tax and Bookkeeping Strategies:

  • Mike’s Journey to Cannabis Finance Leadership: Learn how Mike transitioned from public accounting to become a pioneer in the cannabis space, applying decades of tax expertise to one of the fastest-growing industries in the U.S.

  • Breaking Down Multi-State Cannabis Taxation: Mike will share key takeaways from his work with Thomson Reuters, where he authored a comprehensive guide on multi-state cannabis tax policy. Learn how to adapt your bookkeeping processes across jurisdictions to remain compliant.

  • Understanding the Real-World Impact of Section 280E: Get clarity on how to approach cost of goods sold, allocations, and deductions with real examples from the field. This part of the session is essential for anyone implementing Cannabis Tax and Bookkeeping Strategies in a hands-on environment.

  • Best Practices in Cannabis Bookkeeping: Discover how to set up systems that not only ensure compliance but also support decision-making, audit readiness, and financial forecasting.

  • Strategic Insights for Financial Professionals: Whether you’re advising clients or running your own firm, understanding how to offer high-value cannabis accounting services is crucial. Mike will outline scalable approaches and common pitfalls to avoid.

Who Should Attend?

This webinar is perfect for:

  • Bookkeepers and CPAs looking to enter or grow within the cannabis niche

  • Cannabis operators who want a better understanding of their tax and financial responsibilities

  • Entrepreneurs preparing to launch a cannabis business

  • Financial consultants supporting plant-touching or ancillary cannabis companies

If you’re ready to sharpen your edge and make smarter financial decisions, mastering Cannabis Tax and Bookkeeping Strategies is a must. With regulatory scrutiny at an all-time high, it’s more important than ever to have a solid foundation for your cannabis accounting practices.

 

This Event Has Passed – Watch the Replay

The replay of this exclusive training is now available inside our Members-Only Vault. Get access to this session and dozens of other exclusive cannabis accounting & tax trainings.

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Cannabis Tax and Bookkeeping Strategies

MIKE GORAL

NATIONAL CANNABIS PARTNER IN CHARGE

Back in 2015, I was living in Texas and working in public accounting when I woke up to the realization that the legalization of cannabis was going to be something that would sweep the nation, state by state. I saw a real need for tax professionals to help this growing industry mature.
 
With the opportunity in sight, I left Texas, moved to California, and started to teach myself about the Cannabis industry and how it’s taxed.
 
This passion culminated in my partnership with Thomson Reuters, writing the complete treatise on multi-state cannabis taxation. I literally wrote the book on Cannabis Taxation, which is an extremely complex area of the law.
 
I now lead Armanino’s Cannabis Tax Group and travel back and forth from the East Coast to the West Coast as this industry rapidly expands across the country. As the tax law expert in this industry, I provide cannabis leaders with the necessary business expertise needed for them to grow, go public, or sell. Reach out to me with any questions, and let’s see how we can partner together to grow and protect your cannabis business.
 
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