If your business owns the building it operates out of (a shop, a restaurant space, a retail storefront, or a manufacturing facility), a cost segregation study is one of the…
Do you know exactly what it costs your business to produce one unit of your product? You might have a rough estimate. But what we find with the majority of…
Run a construction or manufacturing business that bills work over months or years? Whether you’re managing commercial builds or custom equipment fabrication, there’s a piece of tax accounting that follows…
If you made your Q2 estimated tax payment on June 15th, good, you can check that box. But before you set a reminder for September and move on, there’s something…
When it comes to hiring a CPA, you might think any Certified Public Accountant will get the job done. But a generalist CPA is rarely a better choice than one…
After a decade working with business owners across construction, manufacturing, retail, and complex multi-entity structures, one thing has become impossible to ignore: most businesses don’t fail because they lack demand.…
Cash flow problems rarely announce themselves. They creep in quietly, like a delayed customer payment or unexpected equipment repairs. Before you know it, you’re staring at a healthy revenue report…
You’ve probably seen the ads. AI-powered tax software promising to maximize your refund in minutes. Chatbots claiming they can answer any tax question. And slick interfaces suggesting tax preparation has…
When you need to know whether a project is actually profitable, whether there’s cash for new inventory, or why margins seem thinner despite steady sales—the answer lives in your books.…
What Your Cannabis Business Needs to Know Now The cannabis industry experienced a seismic shift this week as news broke that President Trump is preparing to issue an executive order…
Prepare for 1099s Now! As we approach year-end, it’s time to start organizing your records for 1099 reporting. Getting ahead of this process now will save you stress in January…
What the New Federal Restrictions Mean for Your Tax Compliance On November 13, 2025, Congress closed what opponents called the “intoxicating hemp loophole” in the 2018 Farm Bill. For the…
Important Healthcare Tax Credit Changes Could Double Your Insurance Premiums in January If you purchase health insurance through the Affordable Care Act marketplace, you need to pay attention to what’s…
How Open Enrollment is Costing You More Without ACA Premium Tax Credits If you purchase health insurance through the Affordable Care Act marketplace, you need to be aware of some…
The End of IRS Paper Checks Effective September 30, 2025, the IRS and other federal agencies stopped issuing paper checks for most payments, including tax refunds. This change was mandated…
The IRS furloughed nearly half its workforce on October 8, and the agency has shut down most taxpayer services indefinitely. If you have an extended return due this week on…
Recent legislation has created new deductions for tips and overtime pay, and there are steps you should take now to ensure compliance and help your employees maximize these benefits. New…
A Hidden Gold Mine for Small Manufacturers and Product-Based Businesses You might be doing more “research and development” than you think – and missing out on valuable tax savings If…
New Tax Law Changes Could Save You Thousands If you’ve been told that C corporations are always bad for small businesses because of “double taxation,” it’s time to reconsider. Recent…
Not Every Accountant is a Restaurant Accountant Running a restaurant is unlike any other business, which means restaurant accounting is not the same as other business models. The margins are…
The Tax Advantages You Can’t Afford to Miss When you establish a retirement plan for your business, you’re not just offering a valuable employee benefit—you’re creating substantial tax deductions. Here’s…
Cannabis businesses are constantly searching for relief from Section 280E’s crushing tax burden. With effective tax rates that can exceed 70%, it’s no wonder that any promised solution gains quick…
Trump Signs Historical Tax Bill on July 4th President Trump signed sweeping tax legislation into law on July 4th, and the changes affect your business immediately. If you’re a contractor,…
We believe in keeping our clients informed about developments that could affect their tax situations. Recent payment processing delays at the IRS may be causing confusion and concern for taxpayers…
The halfway point of the year is the perfect time for a financial check-in, and one of the best ways to get ahead is by conducting a mid-year bookkeeping cleanup.…
2025 is nearly halfway through, making now the perfect time to assess your business’s bookkeeping and financial health. With the second half of the year still ahead, it’s critical to…
Many business owners attempt to manage their bookkeeping or opt for low-cost services like QuickBooks Live to save money. Especially when you’re just starting, we completely understand the value in…
Our team has spent the better part of the last decade helping inventory-heavy businesses navigate financial challenges. President Trump’s recent “Liberation Day” tariff announcements represent a significant shift in the…
Applicable to: Vermont, Maine, Connecticut, and New York As Q2 of 2025 approaches, it’s critical for small to mid-sized businesses in New England to stay aligned with new labor law…
“Why would I need HR support? I only have three employees!” This sentiment is common—and if you’re a business owner who feels this way, you’re not alone. Small business owners…
Did you know your point-of-sale (POS) system is not an inventory management strategy? Many business owners believe they automatically have an inventory management strategy because their POS tracks their sales.…
As year-end approaches, many business owners in inventory-intensive industries find themselves facing a common challenge: ensuring their bookkeeping is accurate and complete for tax preparation. While basic bookkeeping might seem…
Bookkeeping cleanup isn’t a housekeeping task. For owners running multiple entities and complex operations, it’s the first move toward real tax savings, smarter cash decisions, and finally knowing what you…
Bookkeeping cleanup isn’t a housekeeping task. For owners running multiple entities and complex operations, it’s the first move toward real tax savings, smarter cash decisions, and finally knowing what you…
Running a successful small business is contingent upon frequently looking at your business from a higher view and considering where you are at strategically as well as where you are…
Any mail you get with an IRS return address will raise your blood pressure instantly. It’s not just you; it happens to us tax accountants, too. It instantly means spending…
Buckle up because the Supreme Court just dropped a bombshell that could have your cannabis business plans going up in smoke if you were relying on rescheduling tax relief for…
I loved this April article from the Huffington Post. It highlights some great points about why start ups should consult with an accountant, and might I add, an attorney. It’s…
Were IRS Refunds to Trulieve Strategic? It came as a surprise to many, tax accountants and professionals included, when Trulieve announced that they had received 113 million of the 143…
As it starts to seem more imminent that we may actually see real cannabis law reform this year, a lot of questions remain surrounding what the impact will be to…
It’s not uncommon for me to hear the question “so what exactly does a CFO do?”. The position of Chief Financial Officer however, has become increasingly more critical in the…
Clients always ask, is this going to result in me getting audited? The truth is that we never really know. Some audits are randomly generated, some are more likely based…
On the heels of Trulieve filing for over $143 million in tax refunds, the cannabis world is all waiting with bated breath to see whether or not the canna giant…
Maine Maine Minimum Wage Increases to $14.15 Effective January 1, 2024, the minimum wage in Maine increases from $13.80 per hour to $14.15 per hour under an annual inflation adjustment…
In January 2024, Maine is changing the retirement game for businesses with five or more employees that currently don’t offer a retirement plan. Administered by the Maine Retirement Investment Trust…
Post-COVID, more people than ever are freelancing, finding remote work, or maybe they started a fashion blog, but no matter what the newest trend is, the gig economy is here…
On the heels of the AICPA’s 2023 Agriculture and Cannabis conference, little improvement has been made in the cannabis industry in terms of accurate accounting and tax reporting. While the…
“I think our inventory is pretty spot on.” These are the famous last words we hear from every client we have ever brought on. It’s understandable as to why. Point…
“It’s the same with almost every client we work with” says Andrew Gervais, CEO of Cultivate Consulting and experienced cannabis inventory consultant. “We ask how their inventory management and counts…
Human resources is a vital part of your business but one that’s often overlooked. As small businesses grow, we as owners tend to stay too long in the mentality that…
As cannabis banking continues to be a struggle more and more owners are turning to creative strategies in order to avoid the proverbial “cash in the mattress” storage method. Physical…
In the world of cannabis, nothing is more important to the success of your business than managing your two most valuable assets; cash and inventory. Inventory management isn’t just an…
Whether you’re managing a warehouse full of raw materials or a retail floor packed with finished goods, inventory is one of the most valuable and vulnerable parts of your operation.…
Congratulations on your new adventure! Starting a business is both exciting and terrifying. Mostly exciting though, don’t worry! But we can say from our own experience that there are many…
Our most frequently asked consulting questions are always centered around legal entity structure and ownership structure when it comes to cannabis businesses. Partners, shareholders and operators all want to know…
The internal debate of every entrepreneur…”Do I spend the money to outsource this when I can do it myself?”. The common conundrum of wearing too many hats when growing a…
Maine state law has a unique provision related to recreational marijuana marketing that can cause some accidental pitfalls for business owners. Recently, South Portland recreational cannabis retailer SeaWeed Co. was…
A lot remains to be seen as 2020 continues to unfold but uncertainty seems to be the theme so far this year. While cannabis businesses being deemed essential was a…
We all want it, but we’re not all willing to do the work. Like, real, hard, daily grind kind of work. And I’m not just talking about the stuff that gets you…
It’s one thing to find a great accountant who knows your industry, it’s another thing entirely to be a cannabis business who finds a great accountant who knows your industry.…
The Cannabis world is an ever increasing “hot market”. Set to be a $70 billion industry by 2021 (that’s just the regulated portion), we’re going to inevitably continue to see…
If your business makes, handles, or sells physical products, your cost of goods sold (COGS) is one of the most powerful tools you have for reducing taxable income. Because costs…
