Federal Income Taxation of Cannabis Businesses 2024

Thursday, January 09, 2025

Webcast or Webinar, Online

11:00AM - 2:30 PM (opens at 10:30AM) EST

4Credits

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$159.00 Regular Price

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$209.00 Regular Price

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Course Type: Webcast

Course Code: 24/9126978

Level: Overview

Vendor: California CPA Education Foundation

Field of Study: Taxes

Overview:

CPAs and industry professionals need to stay current on the evolving Federal income tax law applicable to cannabis. At least eighteen states-including California-and the District of Columbia allow legalized cannabis sales, and many more enable medical cannabis sales. Attendees will become familiar with the rules and challenges that affect this growing industry to serve clients best.

Objectives:

• Identify the primary legal and tax changes affecting businesses • Determine the effects of correctly reporting cannabis sales for federal income tax purposes

Major Topics:

• Income taxability • Restrictions on expense deductibility • Application of capitalization rules • Ethical and non-tax legal constraints

Major Topics:

• Income taxability • Restrictions on expense deductibility • Application of capitalization rules • Ethical and non-tax legal constraints

Designed For:

Tax practitioners and financial professionals.

Prerequisites:

None