Cannabis operators face IRS Revenue Code 280E restrictions, but smart tax planning and strategies allow entrepreneurs to mitigate its impact on their business.
Komorn Law is Michigan’s top cannabis law firms when it comes to licensing, consulting and legal defense.
Call them if you’re thinking about venturing into the marijuana business in Michigan (248) 357-2550
Being a legal cannabis company, you are likely familiar with the IRS Tax Code 280E. This tax code sets forth financial hurdles directly related to the amount of tax liability you owe the government at the end of the year.
From cultivators to retail shop owners, whether operating in the medical or adult-use sector, the burdensome financial implications of 280E pose significant challenges for legal businesses in the cannabis industry. The ambiguity surrounding the IRS guidelines on acceptable business write-offs creates substantial obstacles for company owners, hampering their ability to navigate the complex landscape effectively.
Read the rest of the article and more here at Ganjapreneur
Working With, Not Against, IRS Revenue Code 280E
More Posts
The Right to a Jury Trial
When facing criminal charges you have the right to have a trial by jury. The justice system will offer you the right to a jury trial. It's just a matter if you can afford that right. A jury trial with an attorney that is not a public defender can be costly. If you...
Can Police Lie To You?
Police are allowed to lie to you. One might believe that if you ask an undercover cop if they are a police officer they have to tell you. That’s not true. Police can and will lie to you. It's legal for cops to lie The Police may legally lie, bluff, mislead and...
Client testimonies about their experience with the legal system
Komorn Law clients speak about their experience with the legal system Several of Komorn Law client's as well as other individuals have chosen to speak about their encounter with law enforcement, the legal system and how it has affected their lives, families and...
MICHIGAN MEDICAL MARIHUANA ACT – Section 4 Defense
Marijuana Criminal Defense Client with medical marijuana card was charged with marijuana possession. Client was assigned a court appointed lawyer and encouraged to plead guilty and accept 3 months of probation. Client hired Michael Komorn for representation and...
Michigan Methamphetamine Defense
Bill Schuette, the current Michigan Attorney General, is waging war against Meth users, dealers and labs. Innocent people get swept up with meth crimes when police run field tests on any powdery substances, frequently returning false positive results. Komorn...
Foster Care Agencies Allegedly Discriminated Against Poor, Medical Marijuana Patients
Two families -- including one mom who alleges Child Protective Services took her suckling baby from her breast -- are suing the state, alleging discrimination because they are medical marijuana users and poor. In the lawsuit, attorney Michael KOMORN alleges the...
MMMA-Profile-Michael-Komorn
Here are some links to articles posted by Attorney Michael Komorn US Government Collecting and Using Citizen Communications NATIONAL TOXICOLOGY PROGRAM Technical Report Series No. 446 (1996) Oral cannabis extracts as a promising treatment for the core...
Komorn Law – Victory in Genesee County
Komorn Law PLLC is proud to report a ruling today from the Genesee County Circuit Court. This case involved my client's property and all kinds of salacious allegations of really bad behavior by this property, and I mean bad stuff, like stuff you could never...
Komorn Law AVVO Ratings
KOMORN LAW AVVO - RATINGS Read Client AVVO Reviews
Komorn Law-In the News-Fox17
Komorn Law | In the News | Fox 17 News | Links Medical marijuana battle: Father fights for custody of son OTTAWA COUNTY, Mich. – Medical marijuana is a controversial, sometimes sticky issue, especially in Michigan. Max Lorincz is a father from Spring Lake who...
