C
calibrian
- 67
- 0
church!!!! i was just quoting the fbi guy off marijuana inc! they have no idea what there doing as long as there crooked pockets are filled there happy!:mad0233:lucky for me I don't have one stitch of any illegal operation in my house. I'm just asking questions as to how things are done in a very new time. If the cannabis movement has not gone far enough to help give our struggling economy get millions of $$$ every year, then I wont. more for me. uncle Sam is a dumb ass if they don't wanna wise up then next biggest business in Cali. I just wanted to do the right thing in what I hope to be my future company, but if they don't want my taxes with out calling me a criminal, fuck 'em.:bongsmi:
church!!!! i was just quoting the fbi guy off marijuana inc! they have no idea what there doing as long as there crooked pockets are filled there happy!:mad0233:
And that last response from Bearsfather is the best advice you are going to get.
Look at all the CNBC shows they are doing on dispensaries this past year - every single one of them says they are paying sales tax to California, and other taxes to the Federal Government.
Definitely create a legitimate LLC (Limited Liability Corporation) and consult an accountant - but not in that order, consult the accountant first, as they can advise you better on what type of corporation or other business entity you'll really want to create for this.
Last - remember, even if you don't *ever* do any business, it's a smart idea to always have 1 or 2 LLC's created for you - that way if you ever decide to go into business, any vendors can see you've been in business for years & years, banks see the same thing, etc., etc. I learned this long ago when a company I owned failed - yes, good honest people can have companies fail - always have another established corporation of some kind ready to start doing business that has been around for some time, they are all kinds of tax advantages.
1.) See a GOOD CPA.
2.) See a GOOD attorney who has experience in this field - and between the two of them use their advice on what kind of business entity(s) to create.
Good luck, and give Bearsfather a big THANKS for his excellent advice.
You cannot take it as a farm write-off if you're not moving it, i.e. selling it. If you are, then I would consult both an attorney and a CPA, because there will be a whole mess of deductions for you. The state and IRS will love you for your self-reporting, too.Here in San Diego, it's a new age of business. Marijuana is flowing like never before and become a legitimate taxable gross income. My question is, for any farmers in this situation, how would one go about filing taxes for such a trade. I'd imagine it would be quarterly or per harvest. Is it even legal yet? Does H & R block handle this? Can weed finally be a tax write off or american commodity? Whats the word on this, does anyone know?:harvest:
my father work for the irs and in his words "if they put down they are selling meth we dont care, as long as they pay taxes on their meth"
if your trying to go hardcore legit i recomend starting with putting a lawyer on retainer. he would give you the best advice on this situation and prob know the best cpa to go to
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?