PREPARING TAX RETURNS FOR THE LEGAL MARIJUANA INDUSTRY
Program qualifies for IRS credit for enrolled agents, NASBA for CPAs and NJ MCLE credit (pending)
Ensuring tax professionals possess the tools to help the industry.
The legal marijuana industry finds itself in a very unique tax limbo - while the sale of marijuana is legal (but regulated) in many states, marijuana remains a Schedule I narcotic under federal law. As such, the preparation of tax returns for industry businesses is governed by Internal Revenue Code Section 280E and a number of court cases. Spend the day with us and acquire the tools you need to protect yourself, your practice and your clients.
Join us for 9* hours of continuing education taught by enrolled agents, CPAs and attorneys. Material to be covered includes:
Ethical considerations for EAs CPAs and attorneys entering the industry
Legal considerations when licensing is valid under state law, but a crime under federal law
IRC Section 280E and the intersection with IRC 263A and IRC 471
Chief Counsel's Advice 201504011
Best practices for legal structure in the industry
Form 8300 compliance and how it affects the Cannabis industry
Using form 8300 compliance to attract clients
New material -- your client as a passive investor
A detailed tax return simulation from establishment of the entity through closing.
SLEEPING ROOMS: attendees should call the hotel directly to arrange for sleeping rooms (link and room block to follow)
NOTE: The program runs from 8 am until 5 pm, which allows for 9 CE, lunch and breaks. The room opens at 7 am for coffee and registration. Lunch, breaks and beverages are inclued in the registration. Please let us know in advance of any dietary requests.
QUESTIONS OR NEED HELP? Call us at 800-943-1750.
OUR REFUND, TRANSFER and CANCELLATION POLICY: Full refund, less $25 processing fee, if requested 21 days or more before the event. 50% refund if requested 8-20 days before event. No refund if requested less than 8 days from the event. Requests must be in writing and sent to email@example.com. We can honor a transfer to the same course at another venue. The following fees apply: $25 if the transfer is requested 21 days or more prior to the event you are registered for. A 50% fee is applied if you request the transfer 8-20 days before the event you are registered for. No transfers can be accommodated with less than 8 days of notice from the event you are registered for (effective 11/21/2015).
John Sheeley, EA
Goshen, New York based John Sheeley, EA began his career in the tax industry in 1987, passing the IRS special enrollment exam in 1995. His career includes 13 years as a multi-unit franchisee of a national tax firm and 5 years as a tax manager at a regional CPA firm in New York. A National Tax Practice Institute fellow, John completed his undergraduate education at the State University of New York at Oswego.
John formed his current tax services firm in 2008, with a focus on the tax and representation needs of U.S. citizens living abroad, and non‐resident alien entrepreneurs and entertainers living and working in the United States. He also prepares the occasional cannabis industry tax return.
John is also the founder of Tax Practice Pro, Inc, a national continuing education provider. His current teaching focus centers on taxation of legal marijuana businesses, problems of S corps, and taxation of non-resident aliens and those living abroad. He can be reached at firstname.lastname@example.org
Debi Peters, EA, ATP, NP
Debi is principal of Buckley, Washington based Peters Tax Solutions LLP.
Debi has a strong knowledge of tax law and audit representation work. She has represented hundreds of clients under Federal and State audits.
Her experience and knowledge can help a taxpayer during a stressful time of uncertainty.
She obtained her Enrolled Agents License in January of 2009 authorizing her to represent taxpayers before the Internal Revenue Service. She is an Accredited Tax Preparer, and is a member in good standing of NAEA, NATP, and WSSEA. She became a fellow graduate of NTPI in 2011 and continues her education in advanced tax law and representation.
Debi Peters EA
Peters Tax Solutions LLC
John Sheeley EA
Tax Practice Pro