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The Cannabis Accounting Podcast by DOPE CFO

The Cannabis Accounting Podcast by DOPE CFO

By DOPE CFO

The DOPE CFO Cannabis Accounting Podcast discusses the ins and outs of cannabis/cbd/hemp accounting. Topics include 280E, chart of accounts, starting & growing your own firm, overcoming software challenges, and more! Looking to get into cannabis accounting? To learn more visit dopecfo.com.
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Ep. 76: How to Use Social Media to Book Cannabis Client Meetings and Land Signed Offers -- with Rosanna St. John

The Cannabis Accounting Podcast by DOPE CFO

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Ep. 106: Betsy Morem & Mark Waller Share Their Tips on Bookkeeping (Right) for the Cannabis Industry
Ep. 106: Betsy Morem & Mark Waller Share Their Tips on Bookkeeping (Right) for the Cannabis Industry
Betsy Morem & Mark Waller of Morem & Waller CPAs, PLLC. have advice on bookkeeping for today’s Cannabis businesses and staying sane in the process! Learn how to fix (and prevent) those common bookkeeping blunders, remain 280E compliant month after month, get your clients to participate in their accounting successes, and position yourself as a valuable ally in your clients’ success!
42:43
November 21, 2022
Ep. 105: Surviving an IRS Audit in the Cannabis Industry
Ep. 105: Surviving an IRS Audit in the Cannabis Industry
In just 15 minutes, DOPE CFO founder, Andrew Hunzicker CPA, makes quick work of showing how most do Cannabis business accounting 100% wrong, and explains the approach to getting Cannabis businesses set up correctly and making them audit-ready month after month.
14:28
November 07, 2022
Ep. 104: Cannabis Accountants & Businesses—Want Depreciation? Here’s What You Need to Do!
Ep. 104: Cannabis Accountants & Businesses—Want Depreciation? Here’s What You Need to Do!
Has depreciation for Cannabis businesses got you confused? Whether you’re an accountant or CPA serving Cannabis clients, or the CEO/founder of a legal Cannabis company, we've got straightforward information on depreciation and 280E and 471-11. Get informed about the applicable Internal Revenue Codes (IRCs), learn which common mistakes to avoid, and understand the logic behind all of it.
10:44
October 24, 2022
Ep. 103: Fraud Examiner David Lewis Talks Internal Controls and Corporate Governance for Cannabis Businesses
Ep. 103: Fraud Examiner David Lewis Talks Internal Controls and Corporate Governance for Cannabis Businesses
Cannabis Businesses & Cannabis Accountants— Knowing corporate governance, having internal controls & accounting policies is SUPER important for all companies, but especially Cannabis companies, so tune in to learn how to reduce the possibility of fraud!
12:53
October 11, 2022
Ep. 102: Expert Advice on Cannabis Licensing from Bridge City Collective Co-Founder David Alport
Ep. 102: Expert Advice on Cannabis Licensing from Bridge City Collective Co-Founder David Alport
Bridge City’s David Alport talks Cannabis licensing (transportation, cultivation, retail), licensing in various states, where things are headed (interstate, rollups), shares Cannabis startup marketing advice, and more. Unique info you need on your radar is here, so tune in!
34:09
September 26, 2022
Ep. 101: How to Grow Your Practice in New & Emerging Legal Cannabis States w/ Rick LaNeve
Ep. 101: How to Grow Your Practice in New & Emerging Legal Cannabis States w/ Rick LaNeve
Just last year, CPA Rick LaNeve quickly went from zero Legal Cannabis clients to more than ten! Now, the founder of Accounting Buds and Chairman of the New York State CPA Society Cannabis Committee shares his tried-and-true advice on landing those 1st and 2nd Cannabis clients. 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
31:36
September 13, 2022
Ep. 100: Looking into the Future of Cannabis Accounting and DOPE CFO
Ep. 100: Looking into the Future of Cannabis Accounting and DOPE CFO
With even the most anti-Cannabis states coming around to legalization, the industry's future is bright -and profitable. The Cannabis space has changed dramatically since the first states voted for legalization back in 2012. In the 100th episode, DOPE CFO founder Andrew Hunzicker, CPA and leaders of the DOPE CFO Certified Advisors Franchise David Lewis, Raymond Guns, and Kristi Kem highlight the industry’s progression. Listen in to hear more about navigating future hurdles and how you can take advantage of the upswing by jumping in now.
39:50
August 29, 2022
Ep. 99: Cashless ATMs & Other Illegal Merchant Services in the Cannabis Industry
Ep. 99: Cashless ATMs & Other Illegal Merchant Services in the Cannabis Industry
Cashless ATMs and Credit Card payment tricks by Cannabis businesses are considered fraudulent. Cannabis is a Schedule I substance, so any attempts to get creative with payment options will still be classified as money laundering by the Feds. In this episode, DOPE CFO Founder Andrew Hunzicker, CPA and special guest Rick LaNeve, CPA, founder of Accounting Buds, have an in-depth discussion about the many illegal ways that Cannabis businesses are trying to collect payments. Listen in to hear about these Cannabis industry cash traps and how to avoid them. For more information on Cannabis Accounting and DOPE CFO, please visit our website.
16:05
August 15, 2022
Ep. 98: Behind the Scenes: AICPA & CIMA Cannabis Industry Conference 2022
Ep. 98: Behind the Scenes: AICPA & CIMA Cannabis Industry Conference 2022
Can you believe how far the Cannabis industry has come? Last year the AICPA (American Institute of Certified Public Accountants) recognized the industry with a few sessions at one of its conferences. This year the AICPA and CIMA have dedicated an ENTIRE conference to all things Cannabis accounting, and the DOPE CFO team is at the forefront with FOUR sessions during the 3-day event! The move towards legalization in states over the last few years has brought involvement from many different areas, so this year’s Cannabis conference is bringing together a wider range of Cannabis experts. Attendees can expect to hear from CPAs from firms big and small as well as experienced CPAs turned instructors and Cannabis attorneys who have valuable perspectives on the industry. The DOPE CFO team has become well known in the industry, and they’ll be offering sessions on some of the most pressing topics such as raising capital, banking, costing, technology, risk mitigation, and more. We’ll be sharing our experiences - maybe even some horror stories - to help those who are interested in or just getting started in Cannabis accounting. The team will be hosting sessions that… 🌱 Provide basics to help accountants truly get to know their clients so they can build a strong firm 🌱 Guide newcomers on how to adopt a Cannabis accounting mindset 🌱 Discuss ways to legally raise funding 🌱 Detail how to get a position in the private sector 🌱 Offer a chance for closer networking through fireside chats where attendees can ask questions from industry experts While we’re busy getting ready for this year’s Cannabis conference, head over to the AICPA & CIMA Cannabis Industry Conference page to register to attend. Use the code CAN2022 for discounted admission. Click here for more information and to register for the conference. To learn more about our Cannabis accounting program, check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
10:02
August 01, 2022
Ep. 97: How Investors Can Avoid Personal Tax Doom
Ep. 97: How Investors Can Avoid Personal Tax Doom
There’s risk and then there’s calculated risk. The calculated risk we were referring to on this episode of the Cannabis Accounting Podcast is the investments that require deep research into the past, present, and future of a company before deciding to go forward. And though many veteran investors can easily tell the difference, even seasoned investors find themselves with losses investing in the Cannabis industry. From tales of investors who have invested over $2 million without seeing any kind of return to investors whose shares of a company don’t allow for any input in a business’ controls, we’ve seen plenty of people with solid investment choices who suffered major losses. There are ways to avoid such negative outcomes, and fortunately for investors, the red flags that spell financial disaster when investing with a Cannabis company can often be spotted early on. Here are some things to consider before deciding whether to invest with a Cannabis company: 🍃 The glory of the C-corp: This entity structure makes it much easier to raise capital and has better asset protection for the company. Most importantly, this structure purposely separates investors from their business investments, meaning investors cannot be individually audited. 🍃  The LLC risk factor: Unlike a C-corp, this entity structure throws open the door for all investors to be individually audited apart from the Cannabis business. If you’re set on investing with this type of Cannabis company, take extra precautions and make sure you have a voice in determining tax distributions and consult with a verified corporate tax attorney. 🍃  Tax regulations and procedures: Sure, you may not be the one to set up those corporate governance guidelines and internal controls (it’s best to trust a trained Cannabis accountant to put these in place), but it doesn’t mean your voice doesn’t count. As an investor, it’s your right to see that the business you’re investing in is following all tax protocols by the book–trouble for the company spells trouble for you (especially if that company is an LLC). To learn more about our Cannabis accounting program, check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
11:58
July 18, 2022
Ep. 96: Your First Year As A Cannabis Accountant
Ep. 96: Your First Year As A Cannabis Accountant
Making the decision to become specialized as a Cannabis accountant may be the easiest decision you’ll ever make, and the most fruitful. The industry is booming, and it’s nowhere close to finishing its climb. Investing in learning NOW means you’ll be just in time to take your career to new heights along with the industry before it skyrockets to its maximum potential in the next few years. Why Cannabis? Why now? Join host Andrew Hunzicker, CPA and CEO of DOPE CFO as he walks you through the reasons this niche has the most profitable outlook for CPAs in the next decade. If you’re interested in setting yourself up for a secure, lucrative career that’s in high demand, tune in to podcast Episode 96 to learn how to get started and get information on how you should be pricing yourself and your services within your first year. To learn more about our Cannabis accounting program, check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
18:26
July 04, 2022
Ep. 95: Get More Exposure For Your Firm As A Conference Speaker
Ep. 95: Get More Exposure For Your Firm As A Conference Speaker
What if you could take your business further using what you ALREADY know about accounting? One of the best ways to keep your business growing is to share your knowledge by speaking at conferences and events. Events are prime locations to make valuable network connections, learn, and gain added exposure for your business, so whether you’re a Cannabis accounting expert or relatively new to the field, speaking on stage is something all levels should consider. We know the thought of public speaking may have some people adamantly shaking their heads, but don’t shy away. The best part of presenting at Cannabis conferences is being surrounded by like-minded people who are all there for the same reason: to learn and grow together. Tune in to Episode 95 to hear our founder Andrew Hunzicker, CPA along with special guest, expert Cannabis accountant Raymond Guns, CPA at 1st Choice CPA, to walk us through his accounting experience and explain how he began booking events early on in his journey into the niche Cannabis accounting world. We’ll dive into how your business can benefit from becoming a conference speaker and steps you can take to get started yourself. To learn more about our Cannabis accounting program, check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
23:07
June 20, 2022
Ep. 94: Harborside Case Review: Why Multiple Entities Won't Circumvent 280E
Ep. 94: Harborside Case Review: Why Multiple Entities Won't Circumvent 280E
Setting up multiple corporate entities for the sole purpose of getting around 280E will lead to a ton of trouble with the IRS. Just ask the folks over at Harborside. The (still) ongoing Harborside case has taught us how the IRS views using multiple entities to take tax deductions for a Cannabis business, whether that entity is attached to or separate from the Cannabis operations. By trying to be clever and get around 280E, Harborside has now put itself in the position of potentially having to pay a cool $11 million in back taxes. Harborside even tried to fight the constitutionality of 280E… and lost the appeal. Our latest podcast episode, “Harborside Case Review: Why Multiple Entities Won't Circumvent 280E,” explores exactly where it all went wrong for Harborside and what we can do as accounting professionals to protect our Cannabis clients and their businesses. Topics include: 🟢 A brief overview of the Harborside case. 🟢 Why using Harborside’s multi-entity corporate structure to take (illegal) tax deductions won’t fly during an audit. 🟢 Minimizing tax liability while still adhering to 280E. CLICK HERE to grab your FREE “Ultimate Guide to Entities and Funding Structures in Cannabis!” 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
14:10
June 06, 2022
Ep. 93: How can licensed Cannabis businesses prevent raids over unpaid taxes?
Ep. 93: How can licensed Cannabis businesses prevent raids over unpaid taxes?
Two licensed dispensaries were raided last month by the California Highway Patrol, with the California Department of Tax and Fee Administration on standby, to collect overdue state tax payments. The officers walked out with a couple of six-inch-high stacks of cash, but there is more to this story than a modern-day western holdup.  In our latest episode of the Cannabis Accounting Podcast, Andrew Hunzicker, CPA sits down with Daryl Jendras, CPA and managing director of Green Rush Tax PLLC. Daryl joins us with 30 years of state and local tax experience in corporate and public accounting settings with exposure to various industries throughout the US and Canada. Some have labeled him a ‘sales tax guru’ because of his track record of saving Cannabis businesses millions of dollars by understanding how to effectively work with the Department of Revenue. In this episode, Andrew and Daryl discuss situations that have led to licensed Cannabis businesses being raided over unpaid taxes and how you can avoid a similar fate. You’ll learn important information regarding the following: 🌿 What a successful relationship looks like between a Cannabis accounting agency and the Department of Revenue. 🌿 Understanding why your agency receives automated notices from the Department of Revenue. 🌿 What happens when your agency and/or dispensaries ignore these notices. 🌿 What the consequences are for agencies and dispensaries that do not remit sales tax. 🌿 How voluntary disclosure agreements can help dispensaries secure payment plans for sales tax not remitted. 🌿 Understanding a dispensary’s sales tax liability when selling in multiple states. Visit https://bit.ly/3pOebLO to grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
26:36
May 23, 2022
Ep. 92: 4 Myths CEOs Believe About Cannabis Accounting
Ep. 92: 4 Myths CEOs Believe About Cannabis Accounting
Understanding the myths that business owners believe about Cannabis accounting can give you a leg up on understanding their perspective and may better form how you pitch your value to them when you do reach out. For every myth they believe, you can counter with a well-researched answer, illuminating the consequences of misunderstanding tax codes and regulations in their industry and leading them towards a path of eventual profitability and compliance. In this episode, Andrew Hunzicker, CPA, gets to the bottom of these myths: 🌿 Myth #1 - Cannabis companies can claim deductions or credits when filing taxes because of the federally illegal status of the substance. 🌿 Myth #2 - All of the regulatory compliance issues can be handled in-house. 🌿 Myth #3 - Cannabis companies don’t need complex cost accounting processes, a Permanent Audit Trail, proper support, or tax liability relief via 471-11. 🌿 Myth #4 - Just because a Cannabis business has high revenue, its net income must be high as well. CLICK HERE to grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
13:34
May 09, 2022
Ep. 91: Tips for Pricing Your Cannabis Accounting Services
Ep. 91: Tips for Pricing Your Cannabis Accounting Services
As accountants and bookkeepers enter the Cannabis industry, many find themselves unsure of how to quote their fees correctly. Many businesses need a thorough cleanup, monthly reporting systems set up, and constant compliance monitoring, but how can you possibly come up with a number that will fairly compensate you with so many unknowns? Fortunately, we’re going to share some of the tips and techniques that we’ve come up with to ensure that we are offering maximum value to our clients while being paid what you are worth. In this episode, “Pricing Your Cannabis Accounting Services,” DOPE CFO’s Andrew Hunzicker, CPA, shares what you need to look out for as you put together your work plan for current and potential clients. He also covers: 🌿 How your offerings provide exactly what Cannabis CEOs and owners want AND need. 🌿How to prepare and adjust your estimates for unknowns. 🌿 Valuing your services by basing your fees on benefits, not tasks. CLICK HERE to grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
16:44
April 25, 2022
Ep. 90: Entity Structure Considerations for Cannabis Investors and Owners
Ep. 90: Entity Structure Considerations for Cannabis Investors and Owners
As Cannabis business owners and investors grow their companies and expand their operations, some will inevitably be blindsided by personal tax liabilities that aren’t protected by their entity structure. The corporate entity’s structure determines the tax implications for owners, investors, and other shareholders. It also lays the foundation of how they get paid out in the future (at exit, yearly dividends, etc.). Correctly accounting for and tracking revenues and costs per your entity type will save major headaches when it comes time to file returns. In this podcast, Andrew Hunzicker, CPA, sits down to discuss ‘Personal Tax and Entity Structure Considerations for Cannabis Investors and Owners’ to teach you about how a company’s structure affects personal tax filing, income distribution, and reporting requirements. During this episode, he covers: 🌿 Cannabis tax codes and their relationship to entity structures: different entity structures may directly impact the tax rate business revenue is ultimately subjected to, so it helps to start with an understanding of the tax codes that affect the Cannabis industry. 🌿 Different types of entity structures used in Cannabis: from C corps to LLCs: Andrew discusses common Cannabis entity structure types and their pros and cons. 🌿 How to pick the best structure for your client: beyond pros and cons, how to analyze your client’s vertical and business model to determine the best entity structure. CLICK HERE to grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
11:33
April 11, 2022
Ep. 89: 5 Keys to Building a Successful Cannabis Firm
Ep. 89: 5 Keys to Building a Successful Cannabis Firm
After having helped several of our DOPE CFO members build 6-figure accounting firms over the last few years, we know what works. In this episode, Andrew Hunzicker, CPA shares what works for our members, and the 5 Keys to Building a Successful Cannabis Accounting Firm. He goes over: 🌿 The importance of picking the correct niche (must be RECESSION PROOF) 🌿 The exact “Toolbox” you’ll need 🌿 A simple marketing system to find and close 6 figure clients 🌿 The importance of providing “World Class” service to these clients (& How to do this including what workpapers, systems, processes, and templates are needed.) 🌿 How to add a “World Class” team & community to your firm where you can get your questions and client questions answered quickly, share leads, and gain knowledge Visit https://bit.ly/3pOebLO to grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
44:05
March 28, 2022
Ep. 88: A Closer Look at Tax Code 471 and the Challenges with Cannabis Inventories
Ep. 88: A Closer Look at Tax Code 471 and the Challenges with Cannabis Inventories
Legally reducing tax liabilities for Cannabis companies hinges upon compliance with one vastly misunderstood tax code: IRC 471. Cannabis companies are not allowed any deductions or credits, and courts penalize them for messy records. According to 280E, any business associated with the "trafficking" of Schedule 1 substances may not deduct ordinary business expenses (like rent, vehicle expenses, mortgage interest, and much more). This means that the only way Cannabis companies can lower taxable income is by correctly allocating costs to inventory and Cost of Goods Sold (COGS) in compliance with 471. In this podcast, Andrew Hunzicker, CPA, goes over: 🌿The definition of 280e and what it means for your clients. 🌿How you can use tax code 471 to get legal deductions for your clients. 🌿The biggest challenges with Cannabis inventories. Grab your FREE guide to "Accountant's Guide to Managing Your Client's Cannabis Accounting Needs." Visit: https://bit.ly/3pOebLO 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo
47:24
March 14, 2022
Ep. 87: What Are Cannabis Entrepreneurs Really Looking For In An Accountant?
Ep. 87: What Are Cannabis Entrepreneurs Really Looking For In An Accountant?
Let’s face it; Cannabis business owners are incredibly busy keeping up with updates within the industry, making it almost impossible for them to keep up with their finances. This is what makes Cannabis accounting essential to keep their business successful. But a lot more goes into working for this niche than you might think. In this episode, Andrew sits down with Tina Begay, who owns Redtail Accounting, a business, consulting, and accounting services company, to go over her journey from professor to Cannabis Accountant. They take a closer look at what it means to be there for your clients and other ways to open your line of communication. They also go over: 🌿 Pain points that cannabis business owners face in terms of bookkeeping, accounting, and tax codes. 🌿Organization tips and time management best practices. 🌿How to create strong working relationships with clients. Want more guidance after the episode? Visit https://bit.ly/3pOebLO to grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.”  🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo 🌿Connect With Tina Linkedin: https://www.linkedin.com/in/tina-begay-mba-328327190/ Facebook: https://www.facebook.com/tbegay/ Twitter: https://twitter.com/TinaBegay9 Website: https://www.tinabegay.com/
23:46
February 28, 2022
 Ep. 86: Best Practices for Networking at Cannabis Conferences
Ep. 86: Best Practices for Networking at Cannabis Conferences
It’s no secret that accounting professionals are intimidated by the Cannabis industry. Between finding information about the niche and landing clients, many shy away from the industry which leaves CEOs in need of experienced professionals. Of course, accounting fundamentals are crucial but one expertise that many Cannabis and CBD/hemp accountants are missing is the ability to market themselves. Whether it’s at in-person conferences or through social media, networking is essential to building your client base. In this podcast, the organizer of last year’s Orlando Tax Summit, Crysta Tyus, EA, gives us a behind-the-scenes look at Cannabis conferences. From deciding between various conferences to networking at large events, Crysta shares her first-hand knowledge on how to best approach these opportunities, such as determining your  ROI on whether it’s worth it to apply to be a speaker, secure a booth, or both. What You’ll Learn: 🍃  How to build your client base through networking 🍃  The best practices for attending Cannabis conferences 🍃  How to confidently price your services To learn more about our Cannabis accounting program check us out at DOPECFO.com and be sure to visit bit.ly/2GUnpPr to grab your FREE guide “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo YouTube: https://www.youtube.com/c/dopecfo 🌿Find Crysta Tyus, EA Website: https://www.crystatyus.com LinkedIn: https://www.linkedin.com/in/crystatyus Instagram: https://www.instagram.com/crystatyus YouTube: https://www.youtube.com/channel/UCz7uYYBPyfE-Oe1L-iuwuBQ
51:01
February 14, 2022
Ep. 85: The Ultimate Guide to Cannabis/CBD Accounting, Bookkeeping, & Tax
Ep. 85: The Ultimate Guide to Cannabis/CBD Accounting, Bookkeeping, & Tax
Experienced bookkeepers and accountants are essential in keeping cannabis companies penalty-free. The IRS and state tax agencies are ramping up their audits on Cannabis companies this year, and the industry needs trained bookkeepers and accountants more than ever to accurately clean up Cannabis books, adhere to GAAP guidance, and understand the critical workarounds necessary to navigate the tricky “quirks” of Cannabis bookkeeping. In this episode,  Andrew Hunzicker, CPA, goes over the right education, tools, and systems in place to guide you to become the accounting professional every Cannabis company wants to hire, instead of the one that's causing them grief. He discusses: Internal record keeping vs. Cannabis specialized bookkeeping Important court cases and tax codes: IRC 280E and 471, the tax codes that lay out the framework for the only way Cannabis companies can legally take tax deductions. Cleanup and onboarding processes for new clients: a framework for the cleanup process during your first 30 days Day-to-day and month-end tie out systems: the reporting processes and systems to keep your client’s books up to date and compliant Grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” Visit: https://bit.ly/3pOebLO 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
40:47
January 31, 2022
Ep 84: How to Correctly Price Your Accounting Services from the Start
Ep 84: How to Correctly Price Your Accounting Services from the Start
Accounting professionals… it’s time for you to charge what you're worth! There are a million reasons why accounting professionals aren’t charging enough for their services. One of the most daunting questions that accounting professionals have when they first start their own firm or add a new service is, “how much should I charge?” More often than not, unaware Cannabis accounting professionals will undercharge their clients to get the business, and then once the work starts, they realize how massive the workload is. It can be very difficult to go back to the client and ask for more, making it very important to charge them correctly the first time around, which is why you want to check out this episode of the DOPE CFO podcast. In this podcast episode, Andrew covers: 🌿  How much you should charge to hit your monthly revenue goal: he provides examples of how to build a 6-figure firm, how many clients it would take, and how much you should be charging each client. 🌿  What all Canna/CBD owners want and value in terms of accounting: stop pitching bookkeeping and low-value services, and start leading with services that are highly valuable, and set you apart from others in the industry. 🌿  Challenges Cannabis accounting professionals often face: banking, cash controls, POS systems, integrations with seed-to-sale software, and many more. Grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” Visit: https://bit.ly/3pOebLO 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
14:10
January 17, 2022
Ep. 83: How Cannabis Transformed My Practice--with Chip Schweiger, CPA, CGMA
Ep. 83: How Cannabis Transformed My Practice--with Chip Schweiger, CPA, CGMA
It’s a new year and the perfect time to finally take that leap into the exciting world of Cannabis. Getting into a new industry is scary and you might not know where to start or what to expect. Some of you might have just stumbled on this podcast and the title piqued your curiosity, some of you have been listening along and are figuring out if this is the niche you want to be in, and others are just looking to hear a new perspective. Referred to by some as the “Wild Wild West," the rampant growth and expansion of the Cannabis industry have made it an exciting place to operate. In today’s episode, the Cowboy Accountant himself, Chip Schweiger, CPA, CGMA from The Green Leaf CPA talks with DOPE CFO Founder, Andrew Hunzicker, CPA about the transition to starting his own Cannabis accounting firm and learning to function in this relatively new (state-legal) industry. They discuss: 🍃  What makes the Cannabis industry unique 🍃  The growing opportunity Cannabis accountants and bookkeepers have as state legalization continues to sweep the country 🍃  Tools you can utilize when starting your own Cannabis accounting firm Grab your FREE guide to “Accountant's Guide to Managing Your Client's Cannabis Accounting Needs.” Visit: https://bit.ly/3pOebLO 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo 🌿  Find Chip Schweiger, CPA, CGMA Website: https://thegreenleafcpa.com/ LinkedIn: https://www.linkedin.com/in/chipschweiger/ Instagram (Chip): https://www.instagram.com/chipschweiger/ Instagram (The Green Leaf CPA): https://www.instagram.com/thegreenleafcpa/ Twitter: https://twitter.com/ChipSchweiger
34:14
January 04, 2022
Ep. 82: A Deep Dive Into the Challenges of Working in Cannabis in Arizona -- with Samuel Richard
Ep. 82: A Deep Dive Into the Challenges of Working in Cannabis in Arizona -- with Samuel Richard
It’s tough starting a business in an industry with so much red tape and unclear guidelines. For Cannabis business owners, there are numerous restrictions and they might start feeling hopeless and lonely. Groups like the Arizona Dispensaries Association (ADA) are a community of leaders providing information, guidance and are the legislative and regulatory voice for Arizona’s Canna-prenuer.  They strive to recruit and retain responsible industry members who believe in protecting patients and providing high-quality cannabis in Arizona. As a Cannabis accountant and bookkeeper, you can network with advocacy groups by demonstrating your expertise. One idea is leading an informative seminar on 280E! Andrew discusses the following with Samuel Richard, a member of the Arizona Dispensary Association (ADA) on this episode of our podcast: 🌿  What advocacy for Cannabis companies looks like and how to get involved 🌿  The Arizona Cannabis market, and how the Arizona Dispensary Association is helping businesses navigate tough rules and regulations through their work 🌿  IRS audits and the need for accountants in the Cannabis industry Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo Arizona Dispensary Association Social: https://azdispensaries.org/ https://www.facebook.com/AZDispensariesAssociation/ https://twitter.com/ada_arizona https://www.instagram.com/arizona.dispensaries/
28:14
December 21, 2021
Ep. 81: Why Social Equity Matters in the Cannabis Industry with Nina Parks (Gift of Doja) and Shaleen Title
Ep. 81: Why Social Equity Matters in the Cannabis Industry with Nina Parks (Gift of Doja) and Shaleen Title
Social Equity.  What does it mean in the Cannabis Industry? Andrew sits down with Shaleen Title (Cannabis Attorney and Speaker) and Nina Parks (Cannabis Activist) to talk about what social equity truly means in the Cannabis industry. It’s not new knowledge that the war on drugs, especially marijuana, has greatly impacted Black, Latinx, Native American, and other minority communities.  What cannabis social equity can do is to ensure that these communities get the resources they need to thrive in the budding industry that once persecuted them. Some topics Shaleen, Nina, and Andrew cover: 🌱 Why social equity in Cannabis is important 🌱 How social equity in the Cannabis industry can help marginalized communities 🌱 How to be an ally and an accomplice 🌱 How Cannabis accountants can partner with new business owners, especially social equity applicants For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
58:17
December 06, 2021
Ep. 80: An Outlook on IRS Audits and Tax for the Cannabis Industry in 2021/2022
Ep. 80: An Outlook on IRS Audits and Tax for the Cannabis Industry in 2021/2022
As more states legalize Cannabis, the IRS is cracking down on tax audits. Recently, the IRS has announced they are specifically focusing on S-Corp and running a fine-toothed comb through CEOs’ books. Cannabis companies are a bigger target now than ever. The only way to make sure your clients are prepared for audits during tax season is by understanding the ins and outs of updated Cannabis tax laws. Join us for this podcast as Andrew Hunzicker, CPA covers in-depth details on what the IRS is looking for and how to set your clients up for success. Andrew discusses: Ways to avoid getting your clients flagged for an audit Accounting operations efficiencies to make audits a breeze (having the right tools and processes in place for WHEN an audit happens) Internal audit processes that add a ton of value to your clients and that can keep you out of trouble with the IRS (cash controls, governance, etc) And more! For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
14:15
November 22, 2021
Ep. 79: Surviving an Audit from a Cannabis Owner’s Perspective -- with Tony Frischknecht
Ep. 79: Surviving an Audit from a Cannabis Owner’s Perspective -- with Tony Frischknecht
Audits. That’s a word that makes most Cannabis accountants and their clients shake in their shoes. But the audit process doesn’t have to be so anxiety-producing. You just have to know what to expect. Our recent podcast features Tony Frischknecht, a Cannabis company owner and investor of more than 17 years. Tony got his start in Colorado, the first state to legalize Cannabis. Tune in as he sits down with DOPE CFO founder Andrew Hunzicker, CPA to discuss what experiencing an audit is like from the perspective of a Cannabis CEO and what you can do to up your accounting game to help your clients pass with flying colors. Key points Tony and Andrew discuss include: Why city and state audits are implemented: audits are necessary -- they aren’t just delivered as punishment for Cannabis companies that regulatory bodies suspect are conducting business illegally (discover the real reason why audits are not only necessary but inevitable) How Cannabis accountants can help prepare their clients for audits: rock-solid accounting and an impeccable understanding of compliance are key to helping your clients survive audits (we’ll discuss which components need to be in place, as well as common errors to avoid) The one factor that will set you apart in a client’s eyes: providing cost accounting and inventory accounting, strategic advisory, and tax burden guidance is all essential but building a relationship with a client will make the biggest difference (and greatly improve your chances of attracting higher-paying clients) Tony is available at tonyfrischknecht.com if you want to connect about audits or Cannabis investing or to listen to his podcast, Plant Problems. For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
33:57
November 08, 2021
Ep. 78: IRS Audits, 280E, and Tax Laws: Legal Insights from a Cannabis Lawyer -- with Rachel K. Gillette
Ep. 78: IRS Audits, 280E, and Tax Laws: Legal Insights from a Cannabis Lawyer -- with Rachel K. Gillette
In the Cannabis industry, it’s not a matter of if a Cannabis company will undergo an audit but when. As an accountant, it’s your job to understand the fundamentals of accounting and tax laws and regulations to help your clients have the best possible chance to survive the critical eye of the IRS. Fortunately, the more you know and the better you can provide world-class, niche-specific accounting to these Cannabis CEOs, the better you can help them safeguard against legal consequences. For this podcast, we’ve gone straight to the source to offer you support in strengthening your understanding of Cannabis tax laws. Rachel K. Gillette, Cannabis attorney and partner at the Cannabis industry group Holland and Hart, sat down with Andrew Hunzicker, CPA to discuss insider information regarding Cannabis tax codes, recent court cases, and how accountants support their clients. Topics they discuss include: The industry’s most misunderstood or misinterpreted tax laws: 280E and Section 471 go hand-in-hand to help Cannabis companies determine which deductions can be claimed, although a great majority of Cannabis companies and accountants don’t understand how to legally lower the tax burden How Cannabis accountants can keep their clients compliant: the only way accountants can help their Cannabis clients stay out of hot water with the IRS is through proper niche-specific accounting practices and understanding the fundamentals of each tax code (we delve into what every accountant should know who intends to serve clients in this industry) An outlook on current and future tax court cases: learn what the IRS is looking for in audits and why the federal government in winning most 280E-related cases (and strategies accountants should adopt to help clients survive audits) For more info on Rachel’s law firm and how she can advise you as you learn to serve Cannabis clients, visit https://www.hollandhart.com/rkgillette. For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
35:19
October 25, 2021
Ep. 77: Innovating Your Cannabis Accounting Practice with AI -- with Jody Padar
Ep. 77: Innovating Your Cannabis Accounting Practice with AI -- with Jody Padar
Most accountants are so busy they barely have time to live their lives. If you run a remote accounting or bookkeeping practice, one reason you started that endeavor may have been because you wanted to strike a better work-life balance. Now, you have so much busywork to do, including filing reports, data entry, and filling out tax returns, that you are still working nearly 80 hours a week -- without much to show for it. Our advice? Let a machine help you. In the dawning age of artificial intelligence (AI), this innovative technology has its place in accounting, especially in the Cannabis accounting niche where you have enough to worry about while trying to keep your clients compliant amid so many changing rules and regulations. In episode 77 of The Cannabis Accounting Podcast, DOPE CFO founder Andrew Hunzicker, CPA sits down with Jody Padar, CPA and VP of strategy at Botkeeper, a full-suite AI accounting solutions company. She discusses the growing importance of adopting AI to innovate and transform bookkeeping or accounting operations and how removing this “grunt work” is the key to living your best life. Key points Andrew and Jody discuss include: How artificial intelligence (AI) can transform your Cannabis accounting practice and free up your life: whether you run a solo remote Cannabis accounting practice or a larger firm that serves many industries, AI can streamline your processes and help you focus on strategic advisory services or other high-level offerings (allowing you to strike more of a work-life balance while earning higher rates) The benefits of Botkeeper: Botkeeper is an AI and machine learning technology solution for bookkeepers and accountants that fully automates reporting and data entry to innovate your workday (as VP of strategy at Botkeeper, Jody talks about how Botkeeper will make life easier for both you and your clients) Why AI and Cannabis are a perfect match: people working in or with Cannabis and AI are early adopters, the pioneers who see greatness in budding markets (we’ll talk about how Cannabis accountants entering the space can 10x their business goals with AI solutions) For more info on Botkeeper and how it can revolutionize the way you run your accounting firm or remote practice, check outhttps://www.botkeeper.com/. For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
17:52
October 11, 2021
Ep. 76: How to Use Social Media to Book Cannabis Client Meetings and Land Signed Offers -- with Rosanna St. John
Ep. 76: How to Use Social Media to Book Cannabis Client Meetings and Land Signed Offers -- with Rosanna St. John
Most accounting professionals squirm away from marketing. However, at the end of the day, the only way accountants and bookkeepers can land great clients is to level up their marketing chops in simple, strategic ways. In Episode 76 of our podcast, bookkeeper Rosanna St. John talks with DOPE CFO founder Andrew Hunzicker, CPA about social media marketing approach and her client-magnet techniques. By tapping into the Instagram algorithm and upping her audience engagement, she not only quickly booked three client meetings -- but also walked away from each meeting with a signed engagement. Tune in to hear Rosanna and Andrew discuss: How just being yourself is a valuable marketing tool: clients want honesty and authenticity -- they’re not so much buying your services as they are buying what you represent (Rosanna chats about how she is herself first and foremost, which has proven to be a valuable marketing strategy as she sculpts her business to best serve her clients) Using Instagram for client outreach and acquisition: landing clients quickly can be easy if you know how to leverage social media (we’ll discuss how Rosanna landed three client meetings within a week of joining DOPE CFO simply because she knows how to promote herself and participate in networks using Instagram) Developing a client engagement and communication strategy: even if marketing overwhelms you, developing a simple strategy for engaging with and answering questions on social media can connect you with potential clients (Rosanna breaks down the steps she used for client engagement that any accountant can implement on basic social media platforms) For more info on Rosanna’s bookkeeping business and how she can help you with your Cannabis accounting path or MJ business, check out https://linktr.ee/cannabookkeeper. For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
22:06
September 27, 2021
 Ep. 75: The Power of Participation: A Cannabis Accountant’s Secret Marketing Weapon with Molly Mayfield
Ep. 75: The Power of Participation: A Cannabis Accountant’s Secret Marketing Weapon with Molly Mayfield
Many Cannabis and CBD/hemp accountants don’t know how to market themselves, making it harder for them to get out there and land new clients. At DOPE CFO, one highly effective marketing tip we share with our students is to “participate.” “Participate” is one part of a critical VIP formula we teach as the “secret sauce” required to really shine as an accountant in Cannabis or hemp/CBD. (The “V” stands for Valuable Expert and the “I” stands for Instructor.) Although “participate” is usually the most overlooked of this formula, it can be the most fun and effective way for you to prove your expertise and land new clients. You can dive into local groups, help significant Cannabis/CBD causes, and support peers and potential clients interested in growing the industry. Molly Mayfield, a CPA and owner of the Cannabis accounting firm GreenFlex Financial, sat down with DOPE CFO founder Andrew Hunzicker, CPA to discuss how she has used “participate” to quickly establish herself as an expert and land great clients. Topics Molly and Andrew discuss include: What it means to be a “participant”: being a participant in your niche means diving into networks, events, and groups and sharing your knowledge among peers (and potential clients) to further the growth of your industry How to use participation in Cannabis/CBD events/groups to land new clients: once you focus on being a participant, you can leverage your expert knowledge and help others in nonprofit groups and/or community networks to showcase the value you could provide (all it takes is a Google search to find groups or events in your state that you can take part in) The importance of speaking engagements and being active in the industry: with dedication as a participant, you may also be able to land speaking engagements to broadcast your knowledge and reputation as an expert in the industry (listen as Molly talks about her upcoming speaker event on the hot topic of social equity) For more info on Molly’s company and how she can help you with your Cannabis accounting path or MJ business, check out www.greenflexfinancial.com. For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
39:04
September 13, 2021
Ep. 74: Strategies to Take the Stress Out of Landing Your First Cannabis Client
Ep. 74: Strategies to Take the Stress Out of Landing Your First Cannabis Client
One of the biggest roadblocks new Cannabis accountants face doesn’t have to do much with accounting. It’s client acquisition. Even after you have mastered every tax code, cost accounting process, and niche-specific requirement you still might face the overwhelming prospect of landing your first client. However, finding and signing on your first client doesn’t have to be anxiety-producing if you know a few tips and tricks to make it an easier process. Listen in to “Ep. 74: Strategies to Take the Stress Out of Landing Your First Cannabis Client” as Andrew Hunzicker, CPA breaks down ways to start building your clientele. Topics he discusses include: Establishing a value-focused mindset: you’re not just another general accountant who won’t be able to help your clients properly reduce their tax burden and comply with seed-to-sale tracking; you’re an invaluable asset to your client and viewing yourself as such is the first step to landing clients (we’ll discuss how to communicate to your prospect how you can offer them real value versus selling services to them) Developing a simple marketing system: even if you absolutely loathe marketing, you can still attract the clients you’re looking for using a simple but effective system (this includes using an easy four-part proven system that DOPE students consider their secret weapon for landing clients) Getting involved with communities and networks: one of the best ways you can get yourself out there and attract new clients is through participating in Cannabis accounting groups and networking with your peers (through this participation, you’ll build yourself up as an expert in the industry and will have access to connections and collaborative work through these networks For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
17:01
September 01, 2021
Ep. 73: Cannabis Investors: Considerations When Determining Entity Structure
Ep. 73: Cannabis Investors: Considerations When Determining Entity Structure
As an accountant helping Cannabis companies, you have a big responsibility you may not even be aware of yet: helping set up entity structures. If you’re not aware of the importance of choosing the right entity structure, let’s pan quickly to the MedMen case. This is a cautionary tale of how a great product and company ended in a dramatic litigious battle due to an accounting and legal team that believed they could beat 280E with multiple-entity structures. Although you’ll always want a Cannabis attorney on your team, your understanding of how to do accounting for each entity type sets up a path of success from the get-go for your clients and investors. Choosing and helping with operations for the right entity type enables you to properly minimize their tax burden while keeping their company compliant with state and federal regulations. In this podcast episode, Andrew Hunzicker, CPA breaks down entity structures and considerations to keep in mind as you guide your client through the process. Topics discussed include: Your role as an accountant in assisting your clients with entity structures: you may not be a lawyer (although you should have a Cannabis attorney on your team), but your ability to do proper accounting for each entity type is crucial to your client’s long-term success Investor goals and challenges: as more investors are savvy, we’ll see much higher standards of due diligence and tax compliance. Investors are thinking about exits, so tax returns must be immaculate -- or your clients could lose their license (and investors can lose their investment!) Tax codes: understanding Cannabis tax codes are critical to setting up entity structures to prevent your clients from trying to "beat" 280E and determining how entity type may affect properly minimizing tax liability and acquiring special tax breaks like 199a Common entity types/pros and cons of each: we’ll talk about how to analyze your client’s vertical and business model to determine the best entity structure (and we’ll point you in the right direction for helping your clients set up this crucial part of their business) For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
19:48
August 16, 2021
Ep. 72: From Seed to Sale: The Ins and Outs of Categorizing Inventory for Cannabis Companies
Ep. 72: From Seed to Sale: The Ins and Outs of Categorizing Inventory for Cannabis Companies
Do you know how much it costs to produce and sell a pound of pot, from the moment a seed is planted to when the delivery truck ships it to its final destination? If you don’t know this answer, you may not understand inventory cost accounting. Cost accounting is essential when serving Cannabis clients because it’s required to help companies stay compliant with IRC 471. If you don’t know how to allocate inventory costs to Cost of Goods Sold (which is the ONLY way Cannabis companies can claim deductions), you could be shorting your client’s cash flow or setting them for crippling penalties from the IRS. In this podcast episode, Andrew Hunzicker, CPA explains how to categorize inventory for Cannabis companies to help you better understand the nuances of this complex process. Topics discussed include: Inventory categorization terminology: the basics begin with understanding basic categories under which to record inventory, including Work in Progress (WIP), Raw Materials (RM), and Finished Goods (FG) (and we'll provide examples of each to give you some context) Different grow stages and inventory counts for each vertical: from manufacturing to retailers, we’ll cover a range of inventory counts found in each stage (helping form a foundation for inventory accounting that you can quickly build into a more robust service offering) How to reconcile inventory with POS for retailers: if you work for retailers, reconciling each inventory count with your POS system is essential for correctly tracking every item (we’ll discuss the high-level categories you’ll need to cover and the overview of this process) Establishing a Bill of Materials (BOM): the BOM is essential for manufacturing as you’ll need to track and count each “ingredient” that goes into a product (we’ll quickly demonstrate this document and discuss the components required to properly do inventory accounting for each product) For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
16:30
August 02, 2021
Ep. 71: What Cannabis Investors Want: An Inside Look at Capital Raising with the Panther Group
Ep. 71: What Cannabis Investors Want: An Inside Look at Capital Raising with the Panther Group
With the legalization of recreational Cannabis happening quickly for many states, and the influx of new businesses that have followed, it’s no surprise that investors far and wide have wanted to get a piece of these startup companies. Investors will supply much-needed early capital and strategic advice in exchange for a sizable return on their investment later on. Accountants play a vital role in raising capital for Cannabis companies by keeping the books organized and clean, and communicating with investors to ensure that deadlines are met and the business is profitable. On this episode of The Cannabis Accounting Podcast, Andrew Hunzicker, CPA sits down with Jordan Tritt, CEO and co-founder of The Panther Group, an investor and Cannabis company network, to provide perspective on what Cannabis investors are looking for and what Cannabis accountants can expect when helping their clients raise funds. Topics discussed include: Current market and projected trends for Cannabis investors: although it’s always a challenge for Cannabis companies to attract committed investors, there’s more capital available than ever for this industry and we’ll discuss the likelihood of a company acquiring capital in today’s market and in the future (as long as the right team, advisors plan, and strategy are in place) Major keys investors are looking for in potential Cannabis businesses: gain critical insight from an active investor in the space on what investors are looking for in a potential Canabis company, from airtight financials to execution and projections The biggest piece missing from Cannabis capital raise structures and strategies:  learn the one mistake most accountants and businesses tend to make when trying to raise capital to ensure you position your client for success in their fundraising ventures (hint: it has to do with an understanding of each complex Cannabis regulation and how much time you spend making sure every detail is accounted for) Check out The Panther Group here: https://thepanthergroup.co/ LinkedIn: https://www.linkedin.com/company/thepanthergroup/ Instagram: https://www.instagram.com/thepanthergroup/ Twitter: https://twitter.com/panthergroupllc For more information about DOPE CFO visit DOPECFO.com or download your FREE "Accountants Guide to Managing Your Client's Cannabis Accounting Needs" at bit.ly/2GUnpPr Listen to 'The Dope CFO Podcast': https://anchor.fm/dopecfo Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
19:30
July 20, 2021
Ep. 70: How to Help Your Cannabis Accounting Clients Navigate Inevitable Audits - with Summer Wilkinson
Ep. 70: How to Help Your Cannabis Accounting Clients Navigate Inevitable Audits - with Summer Wilkinson
Audits. There is no word accountants dread more. Audits can happen to any company in any industry, but with Cannabis companies being so closely watched by the IRS and other government entities, it’s less of wondering IF a company will be audited, but WHEN. Even though an audit may not happen for years after a mistake is made, knowing you’re armed with the knowledge and skills to successfully navigate your client through them can take a lot of weight off your shoulders right now. On this episode of The Cannabis Accounting Podcast, Andrew Hunzicker, CPA sits down with fellow CPA Summer Wilkinson, who recently brought one of her Oregon-based clients through an audit. Listen in as Andrew and Summer discuss the process, giving you insight into what to expect and how to best prepare your clients. Along with tips on how to avoid an audit, Andrew and Summer highlight: What to expect during the audit process: from documentation required to filing for appeals, Summer walks us through every step of her experience with a state-level audit Tips for surviving any audit: although you can’t predict the outcome of an audit, you can prepare your client as much as possible (we’ll discuss staying on top of documentation, opening communication lines with the auditor, getting highly organized with your information gathering, and more ways to help the audit process be more painless) Outlook on new potential tax rules and compliance implications: the recent introduction of 471(c) may affect how some accountants help their clients prepare for tax returns (Summer weighs in on this new code section and shares her hybrid method for keeping her clients compliant) When your clients know you can guide them successfully through dreaded, inevitable audits, they’ll not only see you as someone they can fully rely on year-round, but your reputation as a trusted industry advisor will continue to blossom as well. Keep up with this industry expert! Connect with Summer and her accounting biz, Leaf Book CFO. Website https://www.leafbookcfo.com/ Facebook  https://www.facebook.com/summercfo/?ref=pages_you_manage LinkedIn: https://www.linkedin.com/in/summerwilkinson/ Instagram: @leaf_book_cfo Check out DOPE CFO's program and offerings at www.dopecfo.com. Stay up to date on Cannabis/CBD/hemp industry trends and tips by connecting with us on Facebook, LinkedIn, Twitter, and Instagram. Never miss an episode! Subscribe to the podcast today!
26:05
July 05, 2021
 Ep. 69: Core Skills to Lock Down Before Launching Your Cannabis/CBD Accounting Firm
Ep. 69: Core Skills to Lock Down Before Launching Your Cannabis/CBD Accounting Firm
Cannabis is still a Schedule 1 drug. That means The IRS is keeping an extra close eye on all Cannabis companies and affiliates. For some clients, their very licenses may be on the line -- because haven’t received proper accounting guidance. If you have the finely sharpened skills required to keep both Cannabis and CBD clients compliant, you could be in high-demand for years to come. With the right education and critical skills in place, you can become an expert with a flourishing firm that leads budding Cannabis/CBD entrepreneurs towards success. You just need to know which tactics and resources you need to be devoting your attention to. On this episode of DOPE CFO founder Andrew Hunzicker, CPA guides you through the “Core Skills to Lock Down Before Launching Your Cannabis/CBD Accounting Firm.” Throughout the episode, Andrew will provide: Complete understanding GAAP and cost accounting for Cannabis/CBD: compliance rides fully on being able to correctly do cost accounting in compliance with GAAP and tax code 280E (without these critical skills, you won’t be able to properly help your clients reduce their tax burden, which can lead to a landslide of potential disasters and consequences) Industry knowledge and strong grasp of state and federal rules: before you consider helping clients in either industry, you need to dive into reading up on the latest news about your chosen niche, along with strict state and federal rules (we’ll dive into where you can find these resources to become familiar with the ins and outs of ever-changing rules and regulations) Development of ‘soft skills to best serve your clients: soft skills are the people skills and business savvy it takes to really push a Cannabis/CBD accounting firm from launch to thriving (learn how anyone can hone these skills, including responsiveness, time management, organization, practice management, marketing, and effective communication) And more, including all the “tools” you will need to help these companies get launched! Locking in these simple skills can make a big difference for you and your client. Not only will it save your clients from fines and penalties, but it will boost their confidence in you, enabling you to more quickly become a trusted business advisor. Never miss out on ground-breaking tips and insider advice on the rapidly growing Cannabis/CBD/hemp accounting niche.  Sign up for Andrew’s DOPE CFO program at www.dopecfo.com. And don’t forget to click subscribe to catch all the latest podcast episodes!
17:38
June 21, 2021
 Ep. 68: Work Smarter, Not Harder: Innovating Cannabis Accounting Solutions with JetPack Workflow Software
Ep. 68: Work Smarter, Not Harder: Innovating Cannabis Accounting Solutions with JetPack Workflow Software
While it’s fun to see the rewards that working hard brings us as accountants and bookkeepers, those rewards never seem to come without a bit of struggle. Sometimes, we need a little bit of help. (And that’s okay!) A great way to give yourself the assistance you need is to utilize intuitive software solutions. These streamline processes and maximize efficiencies so you continue to provide higher-level services to each of your clients. Not only does this streamlining make your life easier, but it also increases the value of your services...and your fees. On the latest episode of The Cannabis Accounting Podcast, DOPE CFO founder Andrew Hunzicker, CPA, and David Cristello, founder and CEO of Jetpack Workflow, talk about all things accounting software, including how the right software solution can help you work smarter, not harder. You’ll take away great insights like: The biggest roadblock affecting today’s accountants and bookkeepers: one major reason why you might not have the client base and high fees you’d hoped for is that you’re not thinking strategically (David goes into how to envision and implement repeatable client experiences where not only are your clients’ needs met but ravings fans of your expertise are created) A look at the future of your role (and how to adapt): even though technology is evolving and some accounting and bookkeeping services are becoming solely automated, clients are still willing to pay hourly rates for efficient professionals over software like Freshbooks (we’ll dig into how to navigate these changes in the industry, such transitioning into a cloud-enabled practice and looking for proactive solutions) Ways Jetpack Workflow can innovate your practice: learn how Jetpack Workflow can solve many issues you’re currently facing as it helps you standardize the work you do, automate deadlines, and track your scheduling and progress (we’ll dive into each aspect of Jetpack Workflow to help you envision how it could assist your day-to-day operations) Better efficiency and increased fees for you. Higher-level services for your client. Jetpack Workflow makes everyone’s business run a little smoother. Plus, stick around at the end of the episode to get a sweet bonus offer from David and Jetpack Workflow by visiting https://jetpackworkflow.com/dopecfo. Want to see even more ways Jetpack Workflow can boost your biz? Check out  www.jetpackworkflow.com. Don’t miss out on Andrew’s DOPE CFO program at www.dopecfo.com for ground-breaking tips and insider advice on the rapidly growing Cannabis/CBD/hemp accounting niche. Never miss an episode! Subscribe to the podcast today!
28:11
June 07, 2021
Ep. 67: Using the Cannabis Industry as a Force for Good: How to Set Up a B Corp Structure with Brad Green
Ep. 67: Using the Cannabis Industry as a Force for Good: How to Set Up a B Corp Structure with Brad Green
Despite the Cannabis industry’s massive growth over the last few years, the sector still isn’t universally fair for everyone. Several factors, including criminalization of marijuana-related charges among minority groups, have created inequalities when it comes to accessing and benefiting from this growing market. To promote the highest standards of social and environmental performance, many Cannabis companies have implemented a business structure called the Certified B Corp. On this episode of our podcast, DOPE CFO founder Andrew Hunzicker, CPA chats with Brad Green, an Australian-based Cannabis accountant. Brad’s vision is to empower clients and support a sustainable industry by utilizing Certified B Corps. Listen in as Andrew and Brad discuss: The purpose of a B Corp in the Cannabis industry: B corp models are based on using a business for good, promoting sustainable companies that benefit the environment, create equality among social classes, and minimize problematic corporate behavior (and we’ll discuss how Cannabis is a perfect industry for B Corps as more people try to establish social equity and fair opportunities for all business owners and consumers) How a business can become B Corp certified: if you feel moved, as an accounting professional, to establish fairness and sustainability in the industry you serve, you may want to learn how to help your clients become B Corp certified (listen as Brad details how he introduces to the concept to clients and guides them through the process) Specific ways Cannabis businesses can serve communities through B Corps: pursuing a desire to balance profit with purpose, Cannabis businesses can offer one percent of their annual revenue towards causes that align with their mission or can take steps to look at the impact of their actions on the community and not just their ROI (we’ll look at the verification process a client will go through to ensure they reach these benchmarks) So, you’ll not only learn about how you can help guide clients towards financially sustainable businesses, but you’ll also have the incredible opportunity to help them leverage their power for something pretty spectacular - social equity. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, visit www.dopecfo.com. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
31:55
May 24, 2021
Ep. 66: Navigating New York's New Cannabis Legislation as an Accountant with Rick LaNeve
Ep. 66: Navigating New York's New Cannabis Legislation as an Accountant with Rick LaNeve
New York is one of two states that passed recreational marijuana laws in the last month. With this new legislation comes new opportunities, and new challenges, for accountants who are interested in representing this emerging clientele. On this episode of DOPE CFO, founder Andrew Hunzicker, CPA chats with Rick LaNeve, New York-based CFO and a member of the New York State CPA Cannabis Committee, about his growth as a Cannabis accountant, New York’s political climate, and Cannabis market expectations. He also shares his experiences and answers questions about what it takes for other accountants who are looking to break into serving this new demographic in New York and beyond. Tune in as Rick and Andrew discuss: Updates on the legalization landscape in New York: in the wake of the freshly legalized recreational market, we talk about how the NY State CPA Cannabis Committee is already analyzing the legislation (and requests they are making to the state on behalf of accounting, tax, and social equity viewpoints) Particular challenges innate to new legalization: although NY residents won’t be able to sell or buy marijuana for a year or two, accountants and MJ advocates are already anticipating potential challenges (one of which is high taxation, pressing the question of whether or not the new legalization will strengthen the black market) What to expect with serving new clients when you first get into Cannabis accounting: whether you have your sights set on helping future NY clients or Cannabis clients in your own state, learn from Rick’s experiences landing his first clients (and you’ll learn which red flags to look for and which strategy to employ to be successful) As new Cannabis legislation continues to spread across the nation, having a comprehensive understanding of the industry’s unique needs will give accountants a head start in serving this growing segment of America’s business landscape. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, visit our website at dopecfo.com. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
28:55
May 10, 2021
 Ep. 65: Getting a Head Start on Cannabis Accounting in a New Legalized Market with Matt Mann
Ep. 65: Getting a Head Start on Cannabis Accounting in a New Legalized Market with Matt Mann
Getting started in Cannabis accounting can be overwhelming for accounting professionals who have just started serving Cannabis clients or for those who are still considering the niche. It’s especially difficult when your state has just legalized marijuana and things are still a little bit like the Wild West. Matt Mann, with experience as an internal auditor and corporate controller, was a part of this new frontier when he started serving Oklahoma Cannabis companies soon after the state passed legalization. He ran into some challenges as the state ironed out its regulations, but also found an advantage to getting started early. For this episode, he sat down and talked with DOPE CFO founder Andrew Hunzicker, CPA about getting started and how to utilize your past skills and quickly build new ones to be successful from the beginning. Key points Matt and Andrew discuss include: How to dive in as soon as your state legalizes Cannabis: accountants may be the most successful if they jump into the niche without much hesitation; confidence is key, as well as having a strong referral process already in place with your current clients (we’ll talk about how to level-up quickly so you can hit the ground running). Challenges of doing Cannabis accounting in Oklahoma: although the lessons of Matt getting started in Oklahoma can apply to any state, we specifically dig into the challenges of serving in Oklahoma, given that it’s one of the most flourishing markets (and we’ll talk about ways you can learn from Matt’s early obstacles to optimize your success). Ways to serve clients outside of your home state: if you’re interested in serving Cannabis clients but your state hasn’t legalized it yet or if you just want more clients from other states, one thing to watch for is how investors may be trying to get the most out of the market before it becomes more limited (you’ll want to look for residency requirements and state board regulations before sending your offer letter). It may be a Wild West scenario out there as new legalization markets crop up, but there are rife opportunities for you if you commit to quickly learning how to serve clients in this niche. Listen in today for tips on paving your way. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
21:16
April 27, 2021
Ep. 64: 5 Ways to Handle Petty Cash Transactions in the Cannabis Industry
Ep. 64: 5 Ways to Handle Petty Cash Transactions in the Cannabis Industry
Proper cash and company credit card management is essential for clean books, but it can be difficult to organize your clients’ many transactions. The lack of banking services available to Cannabis businesses means the companies’ bills are often paid in cash. Even companies that have access to credit cards do not always have the flexibility and benefits of normal purchasing cards or separate employee accounts. Because of this, some employees within a company will share one company credit card, or an employee will make purchases with a coworker’s account. Limited transparency regarding who made each cash or credit card purchase is a security risk, wastes valuable time, and could lead to accounting errors -- which can hinder operations and compromise compliance. On this episode of the DOPE CFO podcast, your host Andrew Hunzicker, CPA will offer “5 Ways to Handle Petty Cash Transactions in the Cannabis Industry,” including: 💳 Build an expense limit and approval system: require purchase orders/approval on charges over a set amount (we’ll help you determine what that figure should be based on the size of your client’s company and the number of transactions). 💳 Select a dependable employee to manage petty cash/company card expenses: designate one person to monitor, track, and record the purchases, who has NO access to the accounting system or bank records (we’ll explain how consistent and detailed monitoring of transactions can ensure the appropriate use of funds). 💳 Count cash daily: physically count cash and review credit card purchases each day, and reconcile all expenses to actual receipts (we’ll cover the importance of separating responsibilities, so there are checks and balances across personnel to guarantee compliance). 💳 Establish petty cash vouchers: if employees are using company cards or spending company cash, set up a receipt system that requires detailed descriptions of each and every purchase (we’ll discuss how to tie out this documentation in your permanent audit trail, so you avoid potential accounting errors). Listen in today to learn how best to monitor and report cash and credit card transactions, so your clients maintain up-to-date and accurate financials. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches? For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
16:58
April 12, 2021
Ep. 63: Establishing Much-Needed Social Equity in the Cannabis Industry with Carlos Vela
Ep. 63: Establishing Much-Needed Social Equity in the Cannabis Industry with Carlos Vela
The increasingly widespread legalization of Cannabis has led to thousands of opportunities for CEOs and consumers around the country, but not all opportunities are created equal. For minority communities, the Cannabis industry can be an unfair and unfavorable marketplace. BIPOC Cannabis business owners and consumers are still privy to the complications that arise from negative drug stigmas and the “war on drugs” dialogue, creating segregation issues in an industry that should be a great equalizer. Allies and minorities working in Cannabis realize this imbalance, and have taken steps to establish social equity in this industry. On this week’s episode, we discuss the current state of Cannabis and its effects on minorities. Join DOPE CFO founder Andrew Hunzicker, CPA and Carlos Vela, a Cannabis accountant who helps Cannabis owners apply for social equity, as they highlight what we can do to elevate minorities in this growing industry. Andrew and Carlos will offer insights and suggestions, including: 🌱 What social equity is and why it’s essential to establish in Cannabis: we’ll discuss how the “evil drug” stigma of Cannabis was particularly directed at BIPOC communities over the last few decades, along with disproportionate arrests for Cannabis among minority communities (and why reform and social equity is required now to establish balance in the industry) 🌱 The need to draw business away from big companies and make room for the “little guy”: now that legalization is spreading quickly across the nation, big companies are able to swoop in and take over the industry, leaving small businesses - particularly in minority communities - unable to claim their share of the green rush (making social equity programs even more essential to let everyone have a chance) 🌱 Actions you can take as an accounting professional and ally: from learning how to help your clients apply for social equity to spending the time to listen to every client and address their individual needs, you can take steps to help create social equity in this industry (we’ll give you some tips to get started if you are  passionate about doing your part) Inclusivity and equality begin with us. Listen in today to hear how we can make the Cannabis industry more accessible and profitable for all. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
28:55
March 29, 2021
Ep. 62: It’s a Cash-Only World: Easing Cash-Based Headaches in the Cannabis Industry
Ep. 62: It’s a Cash-Only World: Easing Cash-Based Headaches in the Cannabis Industry
As a cash-based industry, Cannabis is plagued with issues many businesses aren’t, from security issues to struggles with reconciling POS systems. The proper handling of cash can make or break a Cannabis company’s compliance, licensing, and profitability. Cannabis CEOs, executives, managers, and investors are all affected when it comes to cash inconsistencies and miscalculations (so you have a huge responsibility as a Cannabis accounting professional). It is imperative that pristine books are maintained at all times. Cash handling systems must be implemented that monitor where cash is kept, where transactions are processed, and where inventory is held. Join DOPE CFO founder Andrew Hunzicker, CPA on this week’s episode to learn his top tips to navigate the many problems inherent in a cash-only industry. Tips Andrew will cover include: ✅Essential written internal controls and accounting policies and procedures: while properly writing down internal controls and accounting policies and procedures is necessary for all accounting cycles, it’s especially necessary for handling cash in Cannabis (which can help manage deposits, make payments, and reconcile with the POS system) ✅Importance of regimented cash counts: ensure all cash counts are made by shift with double counts, including supervisor recounts and controls (helping to prevent cash skimming and reconcile bank statements and sales) ✅Implementation of on-site safes: every Cannabis company should have on-site safes that are not accessible to any employees (those who take cash for transactions should not handle cash counts and deposits, keeping cash controls honest and accurate) ✅Breakdown of Form 8300: any time a Cannabis company receives $10,000 or more in cash in a single transaction or across multiple related transactions, it has to file an IRS tax form 8300 (Cannabis businesses who neglect Form 8300 are red flags for the IRS and abandoning due diligence could get your client in hot water) Help your cash-based clients remain compliant and profitable with these necessary actions! Listen in today. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
16:57
March 15, 2021
Ep. 61: 5 Things Every Cannabis Accountant Needs to Know to Stay on the Good Side of the IRS w/ Desarie Anderson
Ep. 61: 5 Things Every Cannabis Accountant Needs to Know to Stay on the Good Side of the IRS w/ Desarie Anderson
Few things are more frustrating or stressful for a Cannabis accountant than the prospect of an IRS audit of their clients. Many Cannabis and CBD/hemp companies are being audited for their failure to remain compliant with 280E or because their accounting has not been properly completed in accordance with 471. However, when you understand what the IRS is looking for and how to do accounting correctly for state and federal taxes, the burden of compliance seems less foreboding. On this episode, Andrew Hunzicker, CPA is joined by Desarie Anderson, a Cannabis accountant with extensive IRS experience as both an auditor and an enrolled agent. Desarie will share with you the challenges many Cannabis accountants face when trying to get their clients compliant -- and what the IRS is on the watch for. A few topics she will discuss include: ✅ Importance of prioritizing tax compliance: providing world-class service to your client is all about setting your client up for success so they can make the best financial decisions (but the heart of this service begins with getting their books together so you can meet stringent tax code regulations and avoid damaging penalties) ✅ Everything an accountant needs to know about preparing for state tax and IRS compliance: from knowing your skill and comfort level to setting up a quarterly tax system, we break down five essential tips for staying stay IRS compliant (and keeping the IRS from breathing down your neck) ✅ What not to do when helping clients with taxes: although everything you do is ultimately related to tax compliance, it’s easy to run into pitfalls, such as not outsourcing when you’re in over your head or not understanding depths of tax compliance on a state and local level (we’ll cover the main issues to look out for so you can avoid getting yourself backed into a corner) ✅ Importance of continual learning: the best way you can become highly competent in compliance is through constantly studying and learning (a process that never ends as long as you want to provide immense value to your clients) Tune in today to learn the ins and outs of tax compliance that will help you offer world-class service to keep your clients profitable and audit-ready. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches? For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
39:35
March 01, 2021
Ep. 60: Accounting for Cannabis Startups 101: From Outreach to Fraud Prevention with Pat Reed
Ep. 60: Accounting for Cannabis Startups 101: From Outreach to Fraud Prevention with Pat Reed
Properly setting up a Cannabis company for success takes a great deal of skill. As an accounting professional, your ability to successfully navigate the complexities of the Cannabis industry could make or break the fledgling business. An accountant untrained in the industry can easily lead their client down a path of inadequate audit trails and inaccurate books, risking potentially high penalties, loss of license, or even jail time. On the other hand, a specialized Cannabis accountant can confidently lead a budding Cannabis company into compliance from the very beginning, assisting with proper cleanup, building a permanent audit trail, and preventing the potential for fraud from the very beginning. Pat Reed, an accountant in Arizona, has a particular knack for creating solid foundations for Cannabis startups. Her background in preventing fraud and embezzlement adds an extra layer of protection to the startups she serves. She joins Andrew Hunzicker, CPA to share her valuable experiences and insights into helping startups successfully launch their businesses on this week’s DOPE CFO podcast episode, “Accounting for Cannabis Startups 101: From Outreach to Fraud Prevention with Pat Reed.” Listen in as she discusses: ✅ Fraud in the Cannabis industry: fraud has the potential to permeate every aspect of Cannabis from cash skimming to investment scams (Pat leverages her experience with fraud prevention to lay out the steps you can take to keep your clients safe) ✅ Straightening out and cleaning up: often accountants may find startups amid a tangle of poorly managed month-end reports and a total absence of a permanent audit trail (but you can properly orientate these companies with a few key processes in place) ✅ Finding great startup clients: even if you’re just starting out and feel like you need to dive in and gain experience, it’s beneficial to be intentional about finding great clients to create a win-win situation (and we’ll touch on this process to help you get started, ranging from cold calls to networking with peers) With the proper guidance, and a clear understanding of the Cannabis industry, you too can help the many emerging green businesses succeed. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches? For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
21:31
February 15, 2021
Ep. 59: Breaking into Cannabis: A Day in the Life of a Budding Virtual Bookkeeper with Josie Kuykendall
Ep. 59: Breaking into Cannabis: A Day in the Life of a Budding Virtual Bookkeeper with Josie Kuykendall
Bookkeepers interested in helping Cannabis and CBD/hemp companies sometimes have an uphill battle, as they often must prove they are much more valuable than in-house bookkeepers. However, these niche-trained bookkeepers are so necessary, because they offer more than just daily reporting. A Cannabis bookkeeper is a critical player in maintaining compliance and helping their clients move toward profitability and growth. Getting started can be tough, but you are not alone. There are bookkeepers who have come before you; some are currently serving clients in this niche and others are still setting up shop in the space. On this week’s podcast episode, Josie Kuykendall joins Andrew Hunzicker, CPA to talk about what it’s like to build her own Cannabis bookkeeping practice and how she plans on helping potential clients realize their business goals. Listen in to learn: 🌿 What to expect when getting started in Cannabis: with minimal resources and zero GAAP guidance, most bookkeepers feel lost the moment they start reading about 280E and Cost of Goods Sold (but your fears can be allayed once you’re pointed in the right direction with some solid resources) 🌿 Functions of a bookkeeper in the Cannabis industry: beyond day-to-day transactions and bill logs, a Cannabis bookkeeper builds a foundation upon which a Cannabis company can grow and succeed (we’ll talk about the specific role a bookkeeper has in keeping clients audit-ready and their books transparent) 🌿 The value of transferring your background to the Cannabis space: many more traditional bookkeeping or accounting verticals can prepare you for the unique challenges inherent in Cannabis (Josie will discuss her experience as a controller in the complex oil industry and how that positioned her to help new clients) 🌿 Questions to ask clients to best position them for success: learn the integral questions you can ask any client to become a one-stop shop to help them grow and stay compliant (especially how to lean into their stress points to help them view you as an invaluable asset) If you are a bookkeeper or an accountant interested in serving Cannabis or CBD/hemp clients, but aren’t entirely sure how to get started, this episode is not to be missed! Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches? For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
20:56
February 01, 2021
Ep. 58: Navigating Cleanup for Starting Off on the Right Foot with Angela Mays
Ep. 58: Navigating Cleanup for Starting Off on the Right Foot with Angela Mays
Navigating cleanup can be overwhelming for many Cannabis or CBD/hemp accountants. However, properly taking your client through the cleanup stage will ensure you start out on the right foot, and will set the stage for their future success and compliance. In the experience of our founder and the DOPE CFO network, 90% of the clients you serve will need some degree of cleanup, whether they’re a new startup or an established business with messy books. In this episode, Andrew Hunzicker, CPA discusses the cleanup process with Angela Mays, an MBA and CFE who runs a professional services firm that provides outsourced accounting and financial consulting solutions to businesses in the real estate investing & Cannabis industries. Listen in to learn: ✅ What it’s like to do your first clean-up with a client: you’ll hear first-hand how an accountant new to the Cannabis space managed the cleanup process for the first time (and the steps you can expect and challenges to be aware of, whether you’re helping a startup or an established business) ✅ The importance of instilling a system for cleanup: without a system in place, you’ll likely feel like you’re all over the map with your new client (and we’ll touch base on system’s components you’ll want before you ever onboard) ✅ Struggles of software reconciliations: from Metrc to FlowHub, we talk buggy software issues and tools Angela used to to make cleanup a smoother process (and how you can access these tools to prepare for your next cleanup) Don’t miss the chance to learn from Angela’s firsthand experience and pick up some expert tips! Want more great insights and insider advice on the Cannabis and CBD/hemp accounting niches? For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
27:38
January 18, 2021
Ep. 57: Cannabis Real Estate and 280E Tax Liabilities: Is Leasing Property to Cannabis Companies Risk-Free?
Ep. 57: Cannabis Real Estate and 280E Tax Liabilities: Is Leasing Property to Cannabis Companies Risk-Free?
Cannabis is complex enough with the usual day-to-day questions and issues accounting professionals run into. When you add clients wanting to lease or buy land into the equation and try to apply 280E, it may feel like any misstep could lead to detonating a litigious minefield. Not understanding how 280E relates to leasing or buying real estate in Cannabis could lead to some explosive penalties and consequences. To get a clearer understanding of how leasing out property relates to 280E, listen into our latest podcast, “Cannabis Real Estate and 280E Tax Liabilities: Is Leasing Property to Cannabis Companies Risk-Free?” Understanding the pros and cons of leasing property to businesses in the space will help you make a better informed decision to add value to your clients. Key points you’ll learn about in this podcast include: 📍How 280E can apply and in which circumstances: although there’s never one answer, 280E always applies to Cannabis companies and owners, but might not apply to strictly non-Cannabis assets (for example, a landlord or company might be able to keep assets “safe” from a Cannabis company declaring bankruptcy by creating a separate non-Cannabis LLC, but this doesn’t necessarily mean the owner will be able to lower or reduce 280E tax liabilities, especially if there’s common ownership of assets within the Cannabis company). 📍Possible complications with leasing accounting: we’ll discuss some complications accounting professionals may encounter helping landlords and land owners (and why lease accounting issues can require high-level services from specialized accountants that involve analyzing the accounting, tax, and cash flow implications tied to the owner’s assets). 📍Tools to determine the buy or lease debate: there are tools to ease the headache of determining the risks of leasing assets, such as buy versus lease calculator (and you’ll learn how to locate these tools that can look at cash flow effects and forecast any tax implications to make better decisions for your clients). Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
17:17
January 04, 2021
Ep. 56: How to Get a CEO On a Call and Hook Their Interest with Betsy Morem and Mark Waller
Ep. 56: How to Get a CEO On a Call and Hook Their Interest with Betsy Morem and Mark Waller
Many accountants new to the Cannabis or CBD/hemp space often feel overwhelmed by the prospect of finding clients, getting them on a sales call (or two), then closing. You’re an accountant after all, not a salesperson. However, once you establish an actionable and repeatable system that effectively connects you with a CEO and also hooks them with your value-add pitch, you can begin to confidently land more clients. On this week’s episode, Andrew Hunzicker, CPA is joined by two DOPE CFO students, Elizabeth “Betsy” Morem and Mark Waller, both licensed CPAs. Betsy and Mark outline the exact strategy they used to get a CEO on a call, and how they secured his business for their new Cannabis accounting firm. Listen in to learn: ✅ Why two brains can be better than one: tag-teaming CEO calls can boost your confidence in landing new clients (and increase your odds for building a client base) ✅ A step-by-step process for landing calls that convert: getting a CEO on the phone is one thing, but getting them to commit is the clincher (you’ll learn the process Betsy and Mark used, and how you can make it your own) ✅ Insights into the challenges of finding CEOs: clients don’t just fall into your lap, but with dedication you can make the process a bit smoother (and take a couple of tips away from other accountants’ experiences to navigate the challenges of client acquisition) ✅ Pricing strategies for new clients: after you attract the interest of a client, the next step is to determine your pricing (and we make that a little easier with input from accountants new to the Cannabis space) With the right resources and an established sales system, you, too, can be closing Cannabis CEOs! Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
33:07
December 21, 2020
Ep. 55: How to Build a Rock Solid Cannabis Audit Trail and Keep the IRS on Your Good Side
Ep. 55: How to Build a Rock Solid Cannabis Audit Trail and Keep the IRS on Your Good Side
Cannabis CEOs must always be ready for an audit. Being in the spotlight in an industry that is still federally illegal means you must conduct all operations with exacting detail, especially accounting. Rumor has it, the IRS and local tax agencies are currently looking to collect millions in what they believe to be unpaid taxes. Yikes. Many CEOs have lost licenses, been fined large sums, and even spent time in jail after they were audited and the tax courts determined they didn’t properly pay their taxes. As a Cannabis accounting professional, it is your job to paint a complete picture of how money flows in and out of a business, both in its day-to-day transactions and overall operations. With robust reporting and a rock-solid audit trail, your clients will have an easier time winning over investors, partners, and board members, along with being prepared for that inevitable audit. Learn how to set your clients up for success through the implementation of an audit trail by tuning into our latest podcast hosted by DOPE CFO founder, Andrew Hunzicker: “Ep. 55: How to Build a Rock Solid Cannabis Audit Trail and Keep the IRS on Your Good Side.” Key points Andrew will address include: 🌱 Definition of an audit trail: learn what an audit trail is and why it is critical to maintaining compliance of any Cannabis business (and how a correct audit trail provides essential data any auditor can easily track seven years from now). 🌱 Parts of a month tie-out system: discover why a month tie-out system is a huge part of the audit trail (which will allow you to clearly document all adjusting journal entries and help your accounting systems run like clockwork). 🌱 Why audit trails add incredible value to your client: CEOs/clients are able to own and have permanent access to an effective audit trail not stored on your server (this empowers them to utilize their own data at any time necessary to fulfill requests from lenders, banks, investors, and auditors). Listen in for your overview of how to build an audit trail, and you will never again conduct business without one! Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
16:59
December 07, 2020
Ep. 54: Growing a Cannabis Accounting Firm (and Debunking Conservative Taboos) w/ Ramsey Sessions
Ep. 54: Growing a Cannabis Accounting Firm (and Debunking Conservative Taboos) w/ Ramsey Sessions
America’s “Bible Belt” is experiencing a revolution that few saw coming: the acceptance of legal marijuana. Historically a region that prides itself on strict religious and moral standards, states like Louisiana and Mississippi have recently welcomed medicinal marijuana into their economy. Georgia has legalized CBD oil. Alabama even looked at legalizing medicinal Cannabis back in February of 2020, but that bill was stopped short due to covid. Even with the recent wins for medicinal Cannabis, starting a Cannabis accounting firm in a conservative state can be challenging. Depending on whether your state has yet to legalize any type of Cannabis, you may be fighting a lack of client availability or board limitations on serving outside states. You may also still be under the scrutiny of peers or worry that your reputation will be tarnished by the federally illegal status. Alabama resident Ramsey Sessions, CPA hasn't been hindered by the fact that his state has yet to pass any type of Cannabis or CBD. He hasn't even let his military background keep him from forging into the space. As soon as he started to see the economic and health benefits of Cannabis, he was able to drop his biases and move forward to fill a demand. Ramsey joined us on our podcast for “Episode 54: Growing a Cannabis Accounting Firm (and Debunking Conservative Taboos) w/ Ramsey Sessions.” He sat down with DOPE CFO founder Andrew Hunzicker, CPA to discuss what it was like to move past his old biases against Cannabis -- and why entering the space has been the best move for his practice. Highlights of Ramsey’s interview include: 🌱 Why Cannabis is pushing past traditional Conservative beliefs: due to proven health benefits and increasingly high sales of Cannabis in numerous states, it’s hard for even the most conservative of states to ignore the value of Cannabis. 🌱 Reasons why now is the best time to start a remote Cannabis practice: even if you live in a state where Cannabis is illegal, you can likely still serve Cannabis clients around the country (with all the coronavirus lockdowns of 2020, no time is better for remote work than now as most people in the nation are working virtually). 🌱 Forecast of further legalization in conservative states: Tennessee, South Carolina, and Alabama still have not legalized medicinal or recreational marijuana (but these remaining states are paying attention now that Florida and Missippi have legalized medical Cannabis and may follow suit quickly). If you want to learn more about Ramsey’s background and his dedication to helping Cannabis companies around the country, check out his website here; https://sessionscpa.net/ Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
30:40
December 03, 2020
Ep. 53: 5 Things Successful Cannabis Accountants Get Right
Ep. 53: 5 Things Successful Cannabis Accountants Get Right
If you’re wondering if you have what it takes to be a top-of-the-line, increasingly successful Cannabis accountant...spoiler alert...YOU PROBABLY ALREADY HAVE WHAT IT TAKES. Are you responsive? Consistent? Creative? A go-getter? Are you willing to continue learning and growing? Yes, there are technical elements you need to succeed as a Cannabis accountant. Yes, workpapers, systems and processes, and software are all necessary, but those are all teachable. What about the characteristics nobody talks about? The personal attributes that can lead to your greatness… Your grit, determination, and problem solving skills. Your ability to make the system work FOR you. These traits set you apart. These strengths will launch you into the ranks of Cannabis accountants with lucrative, thriving businesses and vast potential. There is no need to settle in as another run-of-the-mill professional, going through the motions, and never fully realizing their abilities. Our latest podcast episode with DOPE CFO founder and CEO, Andrew Hunzicker, CPA, highlights the top five things Cannabis accountants get right. Listen in for insights on: 📌 Cracking the code to finding clients: generating leads, or potential clients, and closing those clients is harder than it may seem (but dedicating yourself to LinkedIn and email outreach, and trying different techniques like email drip campaigns are just a few of the many ways Cannabis accountants garner top clients). 📌 Unlocking the ‘soft skills’ of success: soft skills include business management, discipline in studying new materials, time organization, and motivation to continually improve and add value to your clients (all of these skills and more could set you apart in the field, from learning a new niche to sticking with continued education to rise as an expert in Cannabis). 📌 Leveraging niche-specific tools and processes to add huge value: the value you add is only as good as the tools, systems, education, and processes you leverage to provide that top-notch service to your clients (and possessing these tools is the best way you can go above and beyond what your competition will be offering potential high-paying clients). These tools and training, combined with your innate skills, can take your career to the next level in one of the fastest growing marketplaces in the world. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
31:21
November 10, 2020
Ep. 52: Legal Liabilities Run Deep in Cannabis (and What Every Cannabis Lawyer Secretly Wants Accountants to Know) w/Paula Collins
Ep. 52: Legal Liabilities Run Deep in Cannabis (and What Every Cannabis Lawyer Secretly Wants Accountants to Know) w/Paula Collins
Even if your eyes glaze over when someone mentions legal matters, Cannabis legislation affects your daily life as a Cannabis accounting professional. Cannabis law is constantly changing and legal liabilities are commonplace in this niche, from trademark lawsuits to contesting tax penalties. By understanding the current court rulings and adjusting your accounting systems to reflect up-to-date legislation, you are able to keep your clients informed, compliant, and likely out of tax court. Paula Collins, EA, MBA, JD, understands the ins-and-outs of the Cannabis industry’s legal and accounting complexities. An accountant, legal professional, educator, and business consultant, she has more than 10 years of experience helping a wide variety of clients with tax preparation, from small nonprofits to sprawling high-net worth entities. Cannabis piqued Paula’s interest when she worked with teenagers afflicted with autism who sought THC and CBD for therapeutic purposes. Now, she combines her nonprofit and education background with her legal and accounting expertise to teach Cannabis CEOs and companies to navigate the relatively uncharted waters of this booming industry. Paula recently joined Andrew to discuss the role a lawyer plays in the Cannabis industry, what she and every Cannabis lawyer wish Cannabis accountants would consider when serving clients in the space, and how accountants would benefit from applying a holistic approach to their clients. Key topics covered include: 🌱 Legal liabilities run amok in Cannabis: Cannabis is the Wild West, which means legal issues pop up frequently at state and federal levels, in all aspects from real estate to marketing trademarks to banking issues; with every-changing regulations and rules, Cannabis companies need strong legal support 🌱 What every Cannabis lawyer wants you to know: Cannabis accounting should be approached holistically to address legal questions and entity issues to protect companies and CEOs, along with the bedrock of solid accounting practices (it’s not just about immaculate books and it’s not just about tax preparation; everything needs to work together to inform the business owner and stakeholders about the financial health of the business so they can survive an IRS audit) 🌱 Education is the future for sustaining the Cannabis industry: empowering Cannabis businesses strengthens the industry’s reputation, helping to grow the industry as a sound medicinal alternative and a safe recreational option 🌱 Importance of having a lawyer on your side: if you have a strong lawyer who specializes in tax preparation, you can help your client make sense of and navigate potential tax snafus, including knowing when to take cases to tax court versus district court Sink your teeth into the legal issues often overlooked or misinterpreted by Cannabis accountants in this heartfelt and informative interview. If you want to learn more about Paula’s ongoing efforts to champion the success of Cannabis CEOs and companies, check out her LinkedIn here: https://www.linkedin.com/in/paulacollinsnyc/. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
28:06
October 26, 2020
Ep. 51: 4 Ways to Jump into Cannabis Accounting and Maintain Your Professionalism
Ep. 51: 4 Ways to Jump into Cannabis Accounting and Maintain Your Professionalism
Cannabis is a rapidly growing industry, but many accounting professionals put on the brakes when approached by Cannabis companies who are interested in their services. Some accountants avoid Cannabis because of the complexities of tax codes and tight regulations, but most shy away from the industry because they’re worried the federally illegal status will damage their professional reputation. But here’s the truth… if you understand all the intricacies of working in Cannabis accounting, you could help CEOs who truly need your accounting expertise in an industry that shows no signs of slowing down, all while maintaining your hard-earned reputation. Our latest podcast with DOPE CFO founder Andrew Hunzicker, CPA delves into debunking the stigmas associated with Cannabis. You’ll learn how to leverage these common concerns to build a competitive edge in the niche once you understand the processes and requirements behind Cannabis accounting. Key points that Andrew discusses include: Dealing with IRC 280E: this tax code is simple by definition but complex by execution (we’ll break down 280E so you can see it’s not so scary once you understand COGS deductions in Cannabis versus the broader deductions you could take in hemp/CBD). “Evil Drug” Stigma: many people still think of Cannabis as being some horrible gateway drug that will spawn generations of miscreants and ne'er do wells, but 60% of Americans think Cannabis should be legal and more than 224 million people use medicinal marijuana (facts that point to Cannabis’s increasing ability to help people cope with health issues like epilepsy and chronic pain, possibly decreasing reliance on pharmaceuticals for many medical problems). Making It as a Professional: how to put yourself out there professionally as a Cannabis accountant and expert in the field (without you reputation and credibility taking a hit). Landing New Clients: discover you can become a VIP in the Cannabis industry (and attract top clients who will pay you what you’re worth). Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
17:41
October 13, 2020
Episode 50: Making a Career Change to Cannabis Accounting Late in Life (and How to Own the Transition) -- with Tom Hawbaker
Episode 50: Making a Career Change to Cannabis Accounting Late in Life (and How to Own the Transition) -- with Tom Hawbaker
Breaking into Cannabis accounting doesn’t come with an age limit. Even if you’ve been in the same CFO position for several decades, it’s never too late to dive into the Cannabis industry if it calls to you. If you’ve been on the fence about getting started in this quickly growing niche but are worried that you’re too old or have been stuck in the same rut for too long, know that you’re not alone. Many people get started in this space late in life, and end up doing really well for themselves.. Just ask Tom. After working for more than 42 years as a public accountant, CFO, and CPA for various companies, Tom Hawbaker, at 65 years old, decided he needed a change. He was tired of 18-hour days, tired of the same clients and the same demands, and knew he needed to reignite the passion in his accounting career. He got in touch with Andrew Hunzicker of DOPE CFO and, within a matter of months, is now on fire to start helping clients in this underserved space. Tom sat down with Andrew recently to talk about why he made his career change late in life, why he’s never looking back, and why he’s looking forward to the day Cannabis becomes federally legal, Highlights of Tom’s story include: Transitioning to Cannabis after decades in another industry: Tom describes the journey he took to make a career change after spending more than 35 years as a CFO in the automobile industry (and how you can make a similar transition with confidence, even if you feel you’re ‘late in the game.’) Essential skills and strengths to help you switch gears: you can mine your past accounting experiences and personal talents to help you transfer your skills to Cannabis accounting (and Tom shares how you can even learn to love marketing if you have natural people skills). Leverage a support system to make the leap: one of the best ways to get started is to become part of a community full of like-minded Cannabis accounting professionals, like DOPE CFO (and Tom shares how this extra peer support from the DOPE CFO VIP community has gone a long way towards helping him quickly learn Cannabis accounting in a short period of time). Changing your life and choosing a new track knows no expiration date! Be inspired by Tom’s story to find your own path and stake your own claim in the green rush. If you want to learn more about Tom’s individual story, check out his website at www.hawbakercpa.com. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
34:51
September 29, 2020
Episode 49: Unpacking the PBC (Prepared By Client) Checklist -- and How to Start Any Client Off on the Right Foot
Episode 49: Unpacking the PBC (Prepared By Client) Checklist -- and How to Start Any Client Off on the Right Foot
Before you can ever set highly valuable services in place for Cannabis clients--even before the cleanup phase--you need a solid onboarding process. And no effective onboarding process is complete without the Prepared By Client (PBC) checklist. You can think of the PBC list like the blueprint for your future relationship with the client and the services you will provide. If a carpenter tried to build a house without a blueprint, that house would not have correct dimensions, structure, or electrical installation, turning it into a franken-house full of problems that may lean on one side, is not up to code (and therefore not safe to inhabit), and may crumble to the ground within months. Basically, you would just never build a house without a blueprint. And you shouldn’t build up a client’s accounting system and processes without the PBC. This document helps you avoid finding leases three months in that you didn’t know existed, or incorrectly prepared tax returns. A proper PBC will save you hours of back-tracking and will pack your services with added value from the very beginning. Listen in to Episode 49 of our podcast as DOPE CFO founder Andrew Hunzicker, CPA, unpacks each part of the PBC to help you get a handle on what should be in this essential onboarding document. Key aspects of the PBC he’ll discuss include: Why the PBC is so important: from implementing a proper cleanup, to creating a perpetual data room, to leaving a permanent audit trail to keep your client efficiently compliant, you’ll learn why the PBC is elemental to proper accounting (and the frustrating mess you could make for you and your client if you skip this crucial engagement step). Parts of the PBC: learn each component in a comprehensive PBC checklist and how to request these documents from your client (along with at which point you need the checklist and why the timing of requesting these documents is so important). Unleashing the immediate value of the PBC: discover why a complete PBC adds instant value to the services you offer your client (and why this ‘checkup’ on permanent files will save you many hours of work in the long run). And more! Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
18:20
September 16, 2020
Episode 48: Seeing into the Future: Predictions of the Cannabis Industry Once It Becomes Federally Legal
Episode 48: Seeing into the Future: Predictions of the Cannabis Industry Once It Becomes Federally Legal
Federal legalization of Cannabis will likely change your role as an accountant. Will those changes bolster your success -- or make it harder to get a foothold in the industry? Listen in for our predictions. With the November election just a couple months away, states like Maine, Arizona, and South Dakota are awaiting results on their medicinal and recreational use initiatives. As more states legalize Cannabis every year, the entire Cannabis industry (including accounting professionals) is waiting in earnest as the nation gets one step closer to federal legalization. Whether we have to hang on for two more years or several more election cycles to finally see Cannabis assume the same legal status as hemp/CBD, most Cannabis accountants have a heated question on their minds: What will working in the Cannabis industry be like once it’s legalized? In a timely podcast, DOPE CFO founder Andrew Hunzicker, CPA, quickly breaks down his predictions of where the industry is headed once it hits federal legalization and how the demand for niche-specific accountants will likely only rise. Points he covers include: Probability of Cannabis growing in complexity: Cannabis accounting and bookkeeping is already complex, and will likely become more complicated as state and federal accounting rules integrate and banking availability increases (meaning you will likely never run out of clients who need your services). Bookkeepers and accountants flooding the space: once Cannabis is legal in every state, thousands of other bookkeepers and accountants will want to jump into the niche (which means that those of you already diving into the green rush will have a HUGE head start on industry). Increased regulation: just as accounting rules will grow in complexity, so will regulation across USDA, FDA, EPA, and OSHA requirements (signaling higher fees for you to collect while adding valuable compliance services to CEOs in over their heads). Huge corporate valuations: everyone, including the big corporations, will want to jump on board with nationwide legalization (freeing up even more MAJOR high revenue clients for you to recruit). Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
08:48
September 02, 2020
Episode 47: The World's Greatest Cost Accounting Tool for Cannabis Cultivators/Growers
Episode 47: The World's Greatest Cost Accounting Tool for Cannabis Cultivators/Growers
Do you have cost accounting nailed down for Cannabis accounting? Can you confidently say you know how to track each plant, work in progress statuses, and inventory count to properly allocate costs to COGS? Are you reducing tax liability properly for your clients… or are you unwittingly costing them extra money by taking too few deductions or being the reason they rack up penalties? To be the champion of correct accounting and compliance for your clients, you need great tools, and one of the best tools is the flower calendar (the only one of its kind in the industry!). With this tool, specially designed by DOPE CFO founder Andrew Hunzicker, CPA, you can streamline Cannabis accounting processes and make it way easier to do the following: Facilitate seed to sale compliance: because the flower calendar literally tracks the growth of a plant, you can help a Cannabis operator or CEO adhere strictly to seed to sale protocol (from buying seeds to the pruning of the final harvest, the calendar helps you establish a strong seed to sale foundation to fulfill state regulations). Offer key support for cost accounting: cost accounting is imperative to properly filing tax codes IRC 280E and 471 (learn how the flower calendar can help you estimate yields, strains, and complete percentages to inform how you assess variable and fixed costs each month). Project cash flow: in a cash-based industry, the flower calendar helps with cash forecasting and precise monthly reports (making the cash forecasting system more automatic, helping your client strategically prepare short- and long-term cash flow objectives). Provide management, board, and investment reporting: when you help your client prepare reports for the management team, company board, lenders, or investors, the flower calendar helps you provide key decision makers with precise details on crop yield, harvest percentages, and future cash flows. Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
17:01
August 18, 2020
Episode 46: How to Fast-Track Your Start in the Cannabis Niche, Even During a Recession -- with Ken Mierzwinski
Episode 46: How to Fast-Track Your Start in the Cannabis Niche, Even During a Recession -- with Ken Mierzwinski
The American economy is still shaking off the effects of coronavirus and the recession. If you struggled to keep your accounting clients or were furloughed during the last few months, you never want to worry about losing work again. Never again do you want to be left wondering if you can pay your mortgage or feed your family. You’ve heard from the experts that the best way to boost your revenue is by finding a niche. And after the ‘Rona’ madness, you’re looking for a strong niche to carry you through the best and worst of times... even during a recession. Even in the face of a nationwide pandemic, Cannabis has proven to thrive. You could maintain enough work with good clients to keep yourself busy almost all year round (and not just during the rush of tax season), bringing you enough revenue to ride the inevitable waves of the economy. But how do you even begin to learn the ins and outs of Cannabis accounting, or get clients that will justify the transition from general accounting to learning highly-specialized processes for this booming niche? Ken Mierzwinski, CPA, had heard about the Cannabis industry’s exponential growth in the last few years. Once DOPE CFO founder Andrew Hunzicker reached out to him about getting started in Cannabis, just around the time COVID-19 first hit, Ken knew jumping into Cannabis was a matter of survival. His well-timed leap into the industry would allow him to keep paying his bills while his other non-Canna clients were on hold. Ken recently sat down with Andrew for an interview for the DOPE CFO podcast to talk about his transition from one business to the other. He tells the story of how he kept his first non-Cannabis business afloat (even while his clients were on hold) because his ONE Cannabis client (that he landed in just two months) helped him pay the bills. He wasn’t confident at first that he could quickly get his Cannabis client in time to save his income during the pandemic. However, as soon as he dove into the DOPE CFO materials, he was talking to clients within one week. In this podcast, you’ll hear Ken talk about: Why he chose Cannabis as the niche to keep him solvent even during a recession How he got started with the DOPE CFO program and what it was like to be able to quickly reach out to and onboard his first monthly retainer client His plans for the future now that he is getting more comfortable with accounting practices for different Cannabis verticals Want to get on the fast track to learning Cannabis accounting? Check out our DOPE CFO program by visiting dopecfo.com. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.
30:13
August 04, 2020
Ep. 45: 3 Ways to Find Great Clients (and How to Keep Them On As Monthly Retainers) -- with Adam Remis
Ep. 45: 3 Ways to Find Great Clients (and How to Keep Them On As Monthly Retainers) -- with Adam Remis
Cannabis accounting may be a great niche to dig into, but you may not get too far in your new practice if you don’t know how to land the right clients who can pay you what you’re worth for your services.. When it comes to client acquisition in the Cannabis industry, there are a few tried-and-true methods that make Cannabis CEOs and operators willing to stop trying their hand at DIY accounting internally and hire you to get their books in order, so that they are in compliance with state regulations. Adam Remis, MSIM, CPA, CISA had more than 25 years of experience in accounting, taxes, and CFO roles. He knew how to land clients, but he didn’t know how to close  Cannabis CEOs as clients -- a demographic usually uninformed of the importance of highly-trained accountants amid varied and complicated regulations in their relatively uncharted niche. He didn’t have a plan at first to reach out to clients, let alone ask for monthly retainers. However, once he learned a handful of acquisition tips and discovered what was most effective, he was pushing out engagement letters, one after another. Adam sat down with us recently to talk about at least 3 different client acquisition methods he used in the last few months to bring in substantial monthly retainers from clients who fully value the expert services he brings to their companies. In this podcast, you’ll learn about: Top industry methods used to acquire the right kinds of Cannabis clients (and how you can also go “outside the box” a little to come up with your highly effective means of attracting and onboarding CEOs) The degree of work required to get ideal clients (and how to optimize the DOPE CFO program to help you get the attention of top CEOs) Helpful background experience that may give you a leg up in this industry (and give you the boost you need to dive fully into the Green Rush) For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast. For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide.
35:36
July 21, 2020
EP. 44 5 Keys to Raising Capital in Cannabis, Hemp, and CBD
EP. 44 5 Keys to Raising Capital in Cannabis, Hemp, and CBD
Capital raise is almost always inevitable for Cannabis or hemp/CBD business startups. At some point your company or your client’s company is going to need to raise capital -- and you’re going to need to know how to confidently guide them through the process. Capital may still be tight for startups in 2020, but Cannabis and hemp/CBD businesses may soon have access to new capital options from angel investors, hedge funds, private equity, Big Pharma, and other sources. When this outpouring of investment sources begins to rush in, you want to be ready. Listen in as DOPE CFO founder Andrew Hunzicker, CPA talks about the 5 keys it takes to unlock the interests of investors and increase the likelihood of winning their commitments. Key points Andrew addresses include: The need for rock-solid accounting and financial data: all the sound capital-raising tips in the world can’t be effectively implemented without a Cannabis trained accountant, bookkeeper, COO, and lawyer (which also opens up high demand for accounting professionals helping startups and companies looking to expand). Develop a concise and compelling pitch deck: you don’t want to send a lengthy business plan to an investor; you want a concise and dynamic pitch deck that will hook potential investors (and the way to do this is to systematically understand and implement each component before ever sending it out into the world). How to access investors with a “road show” plan: even the best accounting team and pitch deck won’t get you very far if you don’t have access to investors (we’ll help outline a strategy and run through your options so you know who to contact and how to get started). As an accountant, you can add immense value to your clients by knowing how to prepare a business for raising capital. If you’re an owner or operator of Cannabis  or hemp/CBD business, knowing the steps involved in raising capital puts you ahead of the curve. For more tips and advice on Cannabis/CBD accounting trends and concepts, make sure you subscribe to our podcast. Fore more information on our program, check out our website at dopecfo.com.
44:16
July 07, 2020
Ep. 43 Are Your Client’s Books a Mess? Get the 411 on Dealing with Cleanup Work in Cannabis Companies
Ep. 43 Are Your Client’s Books a Mess? Get the 411 on Dealing with Cleanup Work in Cannabis Companies
Clean books are critical to any business staying compliant with the IRS and federal and state regulations. Cannabis business owners struggle to keep their books organized because of the complex rules and regulation involved with that industry. Plus, due to its schedule 1 status, Cannabis is cash-based, making it even more difficult for general accountants and CEOs to maintain clean and compliant books. As an accountant, you have an incredible opportunity to be the expert for your Cannabis clients to help them clean up their books and maintain accurate cost accounting and GAAP guidance to produce proper books every day, week, quarter, and year. So, when you get a new client and you know there is some major cleanup work to do, you want to make sure you do it right the first time around. Join DOPE CFO co-founder Naomi Granger, MBA, CPA for our latest podcast episode.. She unravels the main points accounting professionals and Cannabis CEOs need to consider as they get their books in order to stay legal and successful. Main points Naomi will discuss include: Why you shouldn’t make assumptions: it’s common for accountants to assume that a multi-million dollar business has their books together and proper industry experts in place to stay compliant (when in reality 9 times out of 10 Cannabiz owners are struggling to find a good accountant and are doing things wrong as they attempt DIY accounting). Major problems commonly experienced: many accounting and bookkeeping errors include issues with cash flow, negative cash accounts, improperly categorized assets and liabilities, fixed asset allocations and depreciation (and many other problem areas where GAAP guidance, proper reports, and accurate inventory processes would go a long way towards cleaning up the mess). Pricing questions - accounting cleanup is a difficult process and requires setting high fees that reflect the work a highly-trained accountant dedicates to straightening out a Cannabis business (learn how to set fees so you can confidently ask for compensation as you provide this value-added service). For more information on getting started, make sure you subscribe to our bi-monthly podcast for great tips and updates! Also, make sure you check out our FREE Cannabis Accounting Guide by texting DOPECFO to 345345
29:54
June 23, 2020
Ep. 42 How to Wow Cannabis Clients On a Call and Make Them Beg for Your Accounting Help -- with Valeria Cruz Sandino
Ep. 42 How to Wow Cannabis Clients On a Call and Make Them Beg for Your Accounting Help -- with Valeria Cruz Sandino
When you first start out in the Cannabis accounting industry, reaching out to potential clients can seem intimidating. Add trying to wow them and land them as paying clients -- and that can seem almost impossible, at first. Valeria Cruz Sandino, CPA, joined us recently for an interview and shared with us the process she used to land big Cannabis clients with a compelling phone call and offer -- and how she presented the value of her services in a way that made the client practically beg for her to onboard them. Within a few short months, she had positioned herself as an expert and was being invited to speak at events. Valeria touches on hot topics, such as: Why choosing a niche is critical to quickly growing your accounting practice (and why Cannabis is a recession-resistant niche that is booming with no signs of stopping) How using a specific offer landed her a big client after just a couple months in the industry (and how you can access this offer template through DOPE CFO’s training program to impress your own leads) Gaining the confidence to explain the value of your services to potential clients (and how to talk about value-add services to show clients that they can’t continue to conduct business without your expertise) How to gain the poise required to speak at events and teach Cannabis owners and industry excerpts about Cannabis accounting (and why this is essential to you growing professionally) For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast. For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide.
23:50
June 08, 2020
Ep. 41 Analyzing 2020 Cannabis Legalization Ballot Initiatives
Ep. 41 Analyzing 2020 Cannabis Legalization Ballot Initiatives
Cannabis legalization has received plenty of attention these past few elections, taking the plant from being recognized as just another commodity (in just a handful of states) to an economic game-changer nationwide. Even with the coronavirus pandemic, Cannabis companies have been deemed essential in some states, while many others issued stay-at-home orders that required countless businesses to scale back, or even close, operations. Many Canna companies have experienced record-breaking sales the last few months. The revenue that this industry has generated did not go unnoticed by local governments, and many states are trying to push for legalization this November. Which states will likely legalize, and which will need to wait? Listen in as DOPE CFO co-founder Naomi Granger, MBA, CPA delves into ballot initiatives for November 2020 and discusses which states are most likely to see Cannabis legalized. Key points she’ll cover include: Reasons why states should legalize Cannabis: the industry is stable and not going anywhere (and could likely restore jobs to the more than 30 million Americans who have filed for unemployment, and may remain unemployed long after the country has reopened). Approved proposed amendments: learn which states, like New Jersey, are close to legalization (New Jersey is sitting with 61% in support of its 2019 approved proposed amendment to put Cannabis sales on the 2020 ballot). Campaigns limited by government: learn how campaigns that are positioned to benefit residents medically in states like Mississippi and South Dakota may be hindered by lawmakers seeking to rewrite the initiatives (and how this can affect the guidelines drafted by citizen-backed campaigns). Unrealistic expectations: Minnesota is one state that might be overshooting its hopes and may have to wait a couple more years (with a proposal for eight-plant home grows, social use, and expungement of most Cannabis convictions. ) If you are an accountant and are interested in taking action now, contact Naomi directly at naomi@dopecfo.com, or book a call here, and she can answer any questions you might have about tapping into your potential in the Cannabis industry. For more information on getting started, make sure you subscribe to our podcast for great tips and updates! Or, check out our FREE Cannabis Accounting Guide by texting DOPECFO to 345345
11:23
May 27, 2020
Ep. 40 - Rocking the Cannabis Industry: How to Quickly and Confidently Transition into Cannabis Accounting -- with Leanna Miller
Ep. 40 - Rocking the Cannabis Industry: How to Quickly and Confidently Transition into Cannabis Accounting -- with Leanna Miller
Many accountants receive the advice to find a niche and become an expert in that industry. But countless accounting professionals also feel anxious and a lack of confidence starting out in a new market. Leanna Miller started her journey towards developing a Cannabis accounting practice in a similar frame of mind: she felt a little in over her head learning niche-specific regulations and rules and didn’t have the confidence to approach high-revenue clients. Leanna joined us recently at the DOPE CFO Podcast to talk about her experiences entering the Cannabis industry -- and how she has emerged a confident expert in her field, even landing speaking engagements just months after stepping foot into the niche. Listen in to hear Leanna’s story as she discusses: Steps she took to quickly gain confidence in a brand new niche (and how you can take the same steps to sharpen your Cannabis expertise within months) Upping her game through interaction with the DOPE CFO VIP community (including how a nationwide network of experts poised her to impress her prospects) Landing a speaking engagement within 30 days of joining the DOPE CFO program (and how she drew on the support within the program to gain the confidence to speak at a large convention) Resources and education she leveraged to completely retool her existing Cannabis accounting firm (and position her business for significant growth). For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast. For more info on the DOPE CFO program, text DOPECFO to 345345 for our free guide.
19:24
May 11, 2020
Episode 39: Climbing Towards a World-Class Attitude in Business and Life w/Christophe Bichet
Episode 39: Climbing Towards a World-Class Attitude in Business and Life w/Christophe Bichet
What do rock climbing and accounting have in common? Quite a bit, it appears. We recently sat down with motivational speaker,mental coach for the French National Climbing Team, and rock climber, Christophe Bichet, to talk about how it is possible to strap on your crampons and climb towards world-class proficiency and success in everything you do, whether you’re scaling the French Alps, learning a new hobby, or setting up your own remote accounting business. Listen in for this exciting twist on accounting education. Christophe and DOPE CFO co-founder Andrew Hunzicker, CPA discuss the following inspiring topics: Persevering in the face of adversity: Christophe describes his lifelong fight with Fanconi anemia and how battling this illness early on shaped his fearless outlook he still has today (despite people telling him he would die young and should just take it easy in life). Discover a new philosophy for living life: learn about Christophe’s approach of living each day as if it were your first day on Earth (and how that sets him up to explore multiple endeavors at a high level -- and how that relates to your journey as an accountant). Achieve world-class level proficiency in anything you do: we’ll discuss how rock climbing relates to scaling all challenges in life and putting in world-class effort, whether you’re summiting peaks at 20,000 feet above sea level (or launching your own remote business). Fear and how to squash it: learn how fear really is only your head, regardless of the situation (and hear Christophe’s steps for coping with fear and moving on). ...and more tips and stories from Christophe! For more information on Christophe, check his website out at christophebichet.com. If you want to learn more about the DOPE CFO program and for more accounting tips and industry insight, make sure you subscribe to our DOPE CFO Podcast channel for bi-weekly episodes.
39:31
April 27, 2020
Ep. 38: Making the Transition to Remote Cannabis Accounting - How an Accountant Did It with a Full-Time Job, and Landed a 6-Figure Client with One Email
Ep. 38: Making the Transition to Remote Cannabis Accounting - How an Accountant Did It with a Full-Time Job, and Landed a 6-Figure Client with One Email
Tammy L., a Cannabis accountant from North Carolina, joined us recently to talk about her experiences transitioning from a full-time job to a remote practice. She told the story of the hard work she has put into developing this next chapter in her career, and offered advice to others looking to make the same career move. Key topics she discusses include: What it’s like for an average accounting professional to transfer their skills to a remote accounting practice in the Cannabis/CBD niche The process involved to land high-paying clients (and why it’s simplified with the help of DOPE CFO) Time-management tips for working remotely and fulfilling client expectations How a remote accounting firm in Cannabis/CBD niches can help you stay afloat ( even during hardships like this pandemic) Advice for people interesting in making the leap towards a remote accounting job Ask most remote accountants about their remote working lifestyle and they will tell you about the freedom they have to work anywhere with a wifi, the flexible hours they get to set, and the ability to acquire higher fees from hand-picked clients. Add a super-powered niche like Cannabis (the fastest growing industry in the country) and you have the formula to crack into a rewarding and fulfilling opportunity. Especially with most of the country in isolation right now due to coronavirus, there’s no time like the present to learn how to start a remote Cannabis accounting business. Tammy, a DOPE CFO student, launched her remote Cannabis accounting practice last year and managed to land a 6-figure client with just one compelling email, using the DOPE CFO email script. Tune in to hear how she did it and be inspired to follow her footsteps. Make sure to listen to the end for information on getting our free guide to landing your first Cannabis client. Thanks for listening and don’t forget to Be DOPE!
24:57
April 13, 2020
Ep. 37: Insurance: Important Considerations for Picking an Insurance Provider for Cannabis Companies
Ep. 37: Insurance: Important Considerations for Picking an Insurance Provider for Cannabis Companies
Insurance is an imperative part of any and every business, especially for Cannabis with its federally illegal status and strict regulations. The caveat is that most average carriers won’t touch the Cannabis industry. Join us for Episode 37: Insurance: Important Considerations for Picking an Insurance Provider for Cannabis Companies as we interview Brenda Bader, accounting professional and insurance agent of Missouri. She has provided services for more than 20 years to individuals and businesses and is one of the few agent insurance agents we know of that serves the Cannabis market. Listen in as DOPE co-founder Naomi Granger, MBA, CPA interviews Brenda and asks her about why insurance is essential to Cannabis businesses, what kind of policies apply to different Cannabis verticals, and how to pick a trustworthy carrier who can protect your client or your company. Key points Brenda discusses include: Must-know Cannabis insurance facts such as why Cannabis friendly carriers are 100% required for getting claims paid and serving ancillary Cannabis businesses What reports and regulations must be adhered to in order to receive payments on claims Why Cannabis companies might need insurance, such as product liability and loss of use How the DOPE CFO program prepared Brenda for translating her accounting and insurance skills to the Cannabis industry so she could provide for this underserved market ...and more! Insurance is a crucial part of the Cannabis industry and requires in-depth knowledge to understand your options when looking at carriers. This episode puts you in the know with one of the best in the field. To claim the free guide we mention at the end of the podcast, remember to text us “DOPECFO” at 345345.
24:31
March 30, 2020
Ep. 36: Small Firm's Guide to Cannabis Bookkeeping
Ep. 36: Small Firm's Guide to Cannabis Bookkeeping
The Cannabis industry is growing at a blindingly rapid pace -- so much that we refer to it as the “Green Rush.” Medical Cannabis is now legal in 33 states and recreational Cannabis has become legal in 11 states. That is a $20 billion dollar-market -- and it’s likely only going to increase with pending federal legislation taking steps to legitimize the $70 billion “illegal” market. Imagine...all these Cannabis companies and CEOs jumping into the green rush and realizing just months down the line that bookkeeping is SERIOUSLY complicated. That’s where you come in. Because Cannabis is so highly regulated and predominantly a cash-only industry, tax codes, deductions, sticky software integrations, and poor vendor-business relations are just a few of the major pitfalls Cannabis business owners find themselves stumbling over. During this podcast we discuss the main Cannabis bookkeeping issues CEOs face and the opportunities you have to supply expert solutions to keep them compliant with IRS, federal, and state regulations. Main topics covered include: 🌱 Understanding holes and hurdles in vendor-business relations and how to develop solutions to bridge the gap 🌱 Accessing and integrating effective tools to integrate complex software systems 🌱 Devising “manual” accounting systems to compensate for the lack of effective and streamlined Canna software 🌱 Providing GAAP guidance and developing workarounds to navigate the lack of Cannabis industry resources 🌱 Preventing downtime and smoothing buggy software infrastructure 🌱 Following annual, quarterly, monthly, weekly, and daily procedures for Cannabis bookkeeping 🌱 Offering a high-demand service to businesses who need your expertise to stay afloat Want more tips, tricks, and support as you dive into the Cannabis bookkeeping industry? Make sure you subscribe today to The Dope CFO Cannabis Accounting Podcast at Anchor.FM for biweekly podcast episodes on Cannabis and CBD accounting and bookkeeping -- and everything in between!
46:45
March 16, 2020
Ep. 35: Challenges in Banking for Cannabis Businesses
Ep. 35: Challenges in Banking for Cannabis Businesses
Cannabis is largely a cash-based industry. Banking barriers make it risky and difficult for your clients to stay compliant and safe, despite how badly they try to be legit. How do you help your clients optimize tax benefits when operating mostly in cash? How do you manage your own banking when you work in a federally ‘illegal” industry so you aren’t accused of money laundering? This podcast covers pressing banking questions like these asked by our VIP members in our private FB group. You’ll learn about the risks Cannabis businesses face without a proper banking account: Vaults on-site full of cash and paying all taxes, bills, and employees with cash 1 out of ever 2 Cannabis dispensaries are robbed or burglarized Lack of a paper trail for ease of tax purposes and tracking inventory You will also learn the landscape of current Cannabis banking availability (or lack thereof) and what your current options are to protect yourself and your clients. We also focus on discussing: Stringent segregation of duties and staff to prevent fraud Daily and monthly procedures and controls put in place to protect the cash ----------------------------------------------- If you would like to download the free guide I mentioned, just download “Accountant’s Guide to Managing Your Client’s Cannabis Accounting Needs” by clicking here: http://bit.ly/384XNdJ 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
28:32
March 02, 2020
Ep. 34: Cannabis Entity Structures
Ep. 34: Cannabis Entity Structures
Accounting for Cannabis entity structures can be confusing… if not set up properly. This podcast episode features our guest Reece B. Morrel, JD, MBA, CPA, from  https://www.morrellawpllc.com to provide you with some basic information on selecting the best entity type (C Corp vs Flow-Thru entities) for your client and some advice on setting up a multi-entity structure for Cannabis businesses. ----------------------------------------------- If you would like to download the guide I mentioned in this episode, "Accountant's Guide to Managing Your Clients CBD/Hemp Accounting Needs" follow this link: http://bit.ly/2RmR3mg 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
22:18
February 17, 2020
Ep. 33: Why Accountants Should Consider the CBD/Hemp Niche
Ep. 33: Why Accountants Should Consider the CBD/Hemp Niche
CBD/hemp is one of the fastest-growing industries in the world right now. This podcast episode will provide you with some basic information so that you can consider CBD/hemp as your accounting niche. If you were hesitating on entering the Cannabis niche (crazy idea btw) then the CBD industry may be the perfect gateway client for you… And since CBD/hemp is technically legal here in the US, the accounting risks are much lower than in the Cannabis industry.  Listen in to learn more about what is involved in accounting for CBD/hemp businesses.  Here are a few of the CBD/hemp specifics (and differences to Cannabis) that I share on this episode: The differences between IRC 471 and 263 Farm accounting (and cash vs accrual choice) Any IRC 199A issues related to each individual owner in the business. ...and more! If you would like to download the guide I mentioned in this episode, "Accountant's Guide to Managing Your Clients CBD/Hemp Accounting Needs" follow this link: http://bit.ly/2RmR3mg ----------------------------------------------- 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
23:37
February 03, 2020
Ep. 32: How to Overcome Dispensary Accounting Challenges
Ep. 32: How to Overcome Dispensary Accounting Challenges
Accounting for dispensaries is unique for a number of reasons. If done incorrectly, cannabis CEOs and investors may be putting themselves in a situation where they can be fined, or even lose their licensing. Here are just a few of the challenges with retail cannabis inventory that we share on this episode: Software not syncing and bad POS systems Incorrect data in software Using the wrong tax codes Not doing cost accounting or correct non-Cannabis accounting Not doing GAAP specifically for retail operations No inventory policies/procedures of controls in place No inventory counts and reconciliations Not understanding the seed-to-sale process Not understanding the different verticals ...and more! The IRS is cracking down on retail cannabis businesses, so don’t get surprised during your next audit! Make sure that your accounting practices are in compliance. ----------------------------------------------- Want to learn the 5 secrets to launching your own Cannabis Accounting Firm? Visit http://bit.ly/2RnJITq 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
25:54
January 20, 2020
Ep. 31: Oregon Cannabis Accounting With Damon Mayer
Ep. 31: Oregon Cannabis Accounting With Damon Mayer
In this episode of The DOPE CFO Cannabis Accounting Podcast, Naomi Granger, MBA, CPA and Andrew Hunzicker, CPA interview Damon Mayer, ChFC, LTC, EA and Oregon Licensed Tax Consultant who specializes in the Cannabis industry. Damon brings a wealth of knowledge from his experience of transitioning into the Cannabis industry in the State of Oregon.  His clientele consists of growers, dispensaries, labs, extractors, wholesalers, and a myriad of other auxiliary cannabis professionals. Through his connections and the DOPE CFO program, Damon has been able to establish himself as a leader in the Oregon Cannabis Accounting communities. Be sure to listen to this 15-minute interview as Damon shares his tips for establishing himself as a cannabis accounting expert in Oregon. ----------------------------------------------- Want to learn the 5 secrets to launching your own Cannabis Accounting Firm? Visit http://bit.ly/33cZYJR 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
14:24
January 06, 2020
Ep. 30: Cannabis Accounting Software
Ep. 30: Cannabis Accounting Software
Cannabis is a complex industry that is riddled with accounting issues: ✅ banking, ✅ cash, ✅ accounting, ✅ software, ✅ merchant service, ✅ compliance/legal issues, ✅ insurance... ...just to name a few. Join us as we share our thoughts on viable Cannabis accounting software solutions. ======================== Want to learn the 5 secrets to launching your own Cannabis Accounting Firm? Visit http://bit.ly/33cZYJR 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
15:53
December 23, 2019
Ep. 29: Oklahoma Cannabis Accounting with Rose Taylor
Ep. 29: Oklahoma Cannabis Accounting with Rose Taylor
On this episode of The DOPE CFO Cannabis Accounting Podcast, Naomi Granger discusses the cannabis industry in Oklahoma with Rose Taylor of Redbud Advisors.  Rose loves working with Cannabis business owners; getting a glimpse into their companies, sharing business strategies, and learning what makes them passionate about what they do. Her background includes a BBA in Business Management as well as being an EA, or someone who has expertise in the field of taxation and tax reporting. Rose is a forward thinker who could see the opportunities when Oklahoma legalized the medical use of Cannabis. As a result, she is now one of the state’s leading cannabis accountants. With tax season on the horizon, Rose advises Cannabis business owners to stay organized. She recommends keeping all copies of receipts in electronic format and working with an accountant that understands Cannabis. Because this is an industry that continually changes, Rose warns if they don’t stay up to date on the ever-changing rules and regulations your accountant could be working against you! Want to learn the 5 secrets to launching your own Cannabis Accounting Firm? Visit http://bit.ly/35cGrKJ 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
13:21
December 09, 2019
Ep. 28: Finding Clients: Old vs. New Methods
Ep. 28: Finding Clients: Old vs. New Methods
Are you tired of going on endless coffee meetings, doing free work just to convince the prospect that you are great at what you do and then hope that you get them as a client? Do you visit the client’s location or keep answering never-ending questions and allow them to treat you like an employee? By doing free work, you portray that your time isn’t valuable and that you’re not the expert. Do attorneys do work for free? NO! Join Andrew Hunzicker, CPA as he discusses: Finding Clients: Old vs New Methods. He touches base on how to take the alpha role with your clients, how to not give away all your expertise before you land the account and how to demand to be paid what you’re worth. It’s time to ditch the old school methods of continuously following up with prospect clients, visiting their location, defending what you can do for them and adopt the new school methods, especially when it comes to Cannabis accounting. For more information visit DOPECFO.com 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
44:19
November 25, 2019
Ep. 27: Moms Building Accounting Businesses: A Piece of Cake!
Ep. 27: Moms Building Accounting Businesses: A Piece of Cake!
Tiffani Higgins is a CPA and a mom of 5 kids…That’s right, five children. After passing her CPA exam, Tiffani worked for a small public accounting firm near her home in Kansas City, where she would regularly work 30 hours a week during the non-tax season and as much as 60 hours a week during tax season. Seeking a better work-life balance, Tiffani chose to leave her job to start her own virtual bookkeeping business where she quickly discovered she could work a lot fewer hours for the same pay or better. Not long into this journey, one of Tiffani’s part-time assistants asked for her advice about starting her own virtual bookkeeping business. Tammi soon realized she could help many people just starting their practices, and it turned out to be the inspiration she needed to create her successful coaching business! Tiffani credits the DOPE CFO program for helping her get started as an entrepreneur.  She now uses the knowledge she gained through DOPE CFO to help her students offer world-class services and get paid accordingly. You can learn more about the DOPE CFO Program at http://bit.ly/2NTdUmr 🌿Join our DOPE CFO FB Group: https://www.facebook.com/groups/dopecfo 🌿Say HEY On Social: LinkedIn: https://www.linkedin.com/company/dopecfo Facebook: https://www.facebook.com/dopecfo Instagram: https://www.instagram.com/dopecfo Twitter: https://twitter.com/dopecfo
16:34
November 11, 2019
Ep. 26: Cost Accounting: How much does it cost to grow a pound of weed?
Ep. 26: Cost Accounting: How much does it cost to grow a pound of weed?
Most accountants are not familiar with the growing and production process of cannabis. This means, they are not doing proper cost accounting and may not have the right tools that they need to help their clients maximize their legally allowable deductions. In this episode, DOPE CFO Co-Founder, Andrew Hunzicker, CPA discusses the costs associated with growing a pound of cannabis and how important it is for accountants to understand the complexities of production. For More Information About The DOPE CFO Program, visit: http://bit.ly/2VFXx0b
46:37
October 29, 2019
Ep. 25: Combining Your Personal Passions with Accounting for Success: An Interview w/ Robert Eyler
Ep. 25: Combining Your Personal Passions with Accounting for Success: An Interview w/ Robert Eyler
Robert Eyler is a Certified Personal Trainer, Fitness Nutrition Specialist, Behavioral Change Specialist, Corrective Exercise Specialist, Registered Yoga Teacher, and a CPA. We offer lifestyle consulting, customized training programs, nutrition plans, and Corporate Health and Wellness topics. He also works for the 5th largest accounting and finance firm in the world lead the Firm in their Mindfulness, Health and Wellness efforts which are all focused around employee engagement. After leaving corporate America to heal from a pharmaceutical addition, Robert found his passion in the Cannabis industry both on the medicinal side but also on the accounting side. Now he spends his time working as a liaison between the Cannabis accounting industry and his current employer, all the while pursuing his other passions in fitness and health. And he wouldn’t have got there without the DOPE CFO program. Listen to this week’s episode as we interview Robert and how the program has positively impacted his life. To learn more about the DOPE CFO Program, visit: http://bit.ly/2pbS3y8
15:19
October 15, 2019
Ep. 24: What Are The Differences Between CBD vs THC Accounting
Ep. 24: What Are The Differences Between CBD vs THC Accounting
Understanding the difference between CBD & THC, Hemp & Cannabis is vital if you’re entering into the realm of cannabis accounting. In our recent podcast, we talked with Summer Wilkinson, co-founder of Leap Books, about the differences and how she got into the industry. For Full Episode Notes, Visit: http://bit.ly/2oAHzYH
27:19
October 03, 2019
Ep. 23: The 5 Do's and 5 Don'ts to Marketing Your Cannabis Accounting Services
Ep. 23: The 5 Do's and 5 Don'ts to Marketing Your Cannabis Accounting Services
We’re accountants not marketers, right? So, how do we get ourselves out there and get more cannabis accounting clients? In this podcast we outline the 5 Do’s and 5 Don’ts to marketing your cannabis accounting services. For more information, visit DOPECFO.com
19:35
September 25, 2019
Dispensary Accounting
Dispensary Accounting
Accounting for dispensaries is unique for a number of reasons. If done incorrectly, cannabis CEOs and investors may be putting themselves in a situation where they can be fined, or even lose their licensing. Some of the key issues we will discuss: How to do proper GAAP/Cost Absorption accounting specifically for dispensaries 280E and 471, and what this means for dispensaries How to legally maximize deductions for dispensary owners Do’s and Don’ts of using non-canna divisions for tax purposes Annual, monthly, weekly, and daily procedures for dispensary accounting Internal controls to prevent theft and fraud Optimal accounting team structure for dispensaries Chart of accounts breakdown for dispensaries ...and more!
45:17
September 02, 2019
Top 5 Cannabis CEOs Pitfalls part 2
Top 5 Cannabis CEOs Pitfalls part 2
If you are an accountant or a bookkeeper, we highly recommend you to take a look at the opportunities opening every day for this profession in the Cannabis Industry. You indeed need specific training to serve this niche, but we assure you that getting Cannabis accounting expertise will allow you to have a successful career. 
18:14
August 19, 2019
Top 5 Pitfalls of Cannabis CEOs Part 1 (reverse order)
Top 5 Pitfalls of Cannabis CEOs Part 1 (reverse order)
 These are some of the major missteps that cannabis CEOs and accounting professionals make in their business design and operations: 1. Treating investors and employees badly. Everyone must follow the rules in order for a cannabis business to be compliant. From safety to how cash is handled, if everyone isn’t on the same page, it creates a recipe for disaster. And while it’s a newly legalized industry and it is growing astronomically, a cannabis business is still a business. Poor accounting practices, lack of executive direction and leadership, an ineffective HR system, and a team that is improperly- or under-trained are all still going to sink the ship, just as with any other business. This can result in potential disputes, legal action, or even the demise of the company. 2. Lack of Compliance function within their business unit(s). The lack of a Compliance Plan, Chief Compliance Officer, or regular compliance audits can lead to compliance issues, amongst all sorts of other problems. Seemingly countless Federal, state, and local government agencies all have regulations affecting legal cannabis operations. Compliance with these regulations is what is going to keep you out of hot water, so make sure systems are in place to keep up with legislation that applies to your geographical region. Not adhering to these laws and regulations can lead to potential fines, penalties, or even the loss of your license.
10:29
August 10, 2019
What do Cannabis Accountants Need to be Succesful?
What do Cannabis Accountants Need to be Succesful?
Proper cannabis accounting tools make all of this much easier, as well. Cannabis-specific charts of accounts for various cannabis entities, a flower calendar for growers to properly calculate COGS at the various parts of the grow cycle and to maximize the deductions on those costs, and cost accounting workpapers and templates all will help keep the company organized and will save money and reduce tax liability in the long run. 
09:58
August 02, 2019
Cannabis Tax Strategies
Cannabis Tax Strategies
 If you’ve paid attention to what’s going on in the cannabis industry, you’ll have noticed a number of decisions that have been handed down from the US Tax Court regarding how cannabis companies are improperly managing their tax strategies. Due to 280E, cannabis companies are extremely limited in terms of what they can deduct from their taxes. Because of these limitations, taxes are a much heavier burden on cannabis companies than most typical businesses and start to eat away at profit margins. There are legal ways to properly minimize tax liabilities for cannabis companies, but most unspecialized or untrained accounting professionals aren’t aware of them and can potentially get their clients into tax trouble. Every entity is different and must apply the rules in different ways, using different strategies.  Here are a few strategies that we use to support our clients and share with our community of cannabis accounting professionals. 
15:04
July 27, 2019
Making it Work part 2: Chart of Accounts, Cost Accounting, Perpetual Data Room
Making it Work part 2: Chart of Accounts, Cost Accounting, Perpetual Data Room
 We have all these systems, we have all these complications and things but there are actual tools to make Cannabis Accounting Software work!  In this episode, we show you step by step the depth of the work that needs to be done and how to get it done with these tools.  Enjoy and share if it's valuable for you. 
14:17
July 19, 2019
Cannabis Accounting Software: Making It Work part 1
Cannabis Accounting Software: Making It Work part 1
In this "Making It Work" piece, we keep going further into the Cannabis Accounting Software Solutions based on a Sample Transaction of a typical retailer recently made by Andrew to explain what we're trying to do weekly and monthly to make sure we are following the rules for IRS, the investor and the bank. Also, to highlight the system needed to get things done efficiently.  We hope this example quickly shows you how complex it is and adds a better understanding of the system.  Enjoy and share if it's valuable for you!
16:51
July 12, 2019
Software Accounting Solutions for Cannabis Industry
Software Accounting Solutions for Cannabis Industry
So, following what we’ve been talking about on the Cannabis Accounting Software Issues this week’s episode “Software Accounting Solutions” we tell you all the different software, why some work, why some don’t work and the ones you just have to deal with.  Be up to date with us because next week we are going to bring you deep insights on how to make it all work for you and your clients. 
14:15
July 05, 2019
Cannabis Software Environment
Cannabis Software Environment
Here we discuss where we are as an industry in the Cannabis Software Environment, we explain the existing tools and the challenges around them.  Don't forget to like & subscribe so you never miss another valuable upload.
10:42
July 01, 2019
Ep #14: 3 Key Principles To Success In Cannabis Accounting
Ep #14: 3 Key Principles To Success In Cannabis Accounting
In todays episode we break down the 3 key principles for success in developing your own remote cannabis accounting practice.  The key principles are: 1. Finding Motivated Clients: We discuss the exact strategies involved in having a steady stream of high paying motivated clients 2. Becoming a V.I.P: Exactly what you can be doing to make sure you're visible in the industry and regarded as an expert  3. Provide a World Class System: How to provide a world class system to your client which they are happy to pay top dollar for.  We also cover some of our students success stories in this episode and we hope you will find their achievements inspiring.  For more information on becoming a Dope CFO please visit our website: www.dopecfo.com  
22:22
June 15, 2019
Ep#13: The Fast Track To a Successful Cannabis Accounting Practice
Ep#13: The Fast Track To a Successful Cannabis Accounting Practice
In this weeks episode we give you the full run down on how to get the fast track to your own successful cannabis accounting practice.  - How to escape being overworked and buried in paperwork - How to finally start getting paid what you're worth - How to fast track your route in the cannabis industry  - The exact systems and work papers you need to become an expert in this niche - Exactly what type of people will excel in this industry If you'd like to learn more and get started with the Dope CFO training program, please visit www.dopecfo.com 
13:19
June 07, 2019
Lessons Learned: How NOT to build a cannabis company!
Lessons Learned: How NOT to build a cannabis company!
In this weeks episode of the Dope CFO podcast we take a close look at one of the best known cannabis retailers in the U.S today.  During the last 6 months of 2018 they lost more than $131 million, more than $2 lost for $1 sold. They are facing lawsuits from employees, CFO and investors as well senior execs and board members quitting, including their COO and chief legal counsel.  We take a look at all the mistakes they have made that have led to the current situation and also everything that could have been done differently if they had employed a Dope CFO from the beginning.  This case can be used as a great reference point for any CEO's you might be offering your expert cannabis accounting services to.  If you would like more information on the Dope CFO training program, please visit our website, www.dopecfo.com 
16:46
May 30, 2019
Ep 11: Getting Your Cannabis Business In the "Dope Zone"
Ep 11: Getting Your Cannabis Business In the "Dope Zone"
Todays podcast is the third part of our talk at the Cannabis Collaborative Conference back in January, where we spoke about achieving financial success for cannabis businesses.  Today in Part 3 we introduce the "Dope Zone" to cannabis business owners, what it is and the elements required to make sure they stay in the "Dope Zone". We also answer questions from some of the business owners in the audience. We hope you enjoy this weeks episode.  Please visit: www.dopecfo.com for more information. 
07:34
May 17, 2019
4 Keys to Establishing Financial Success for Cannabis Businesses: Part 2
4 Keys to Establishing Financial Success for Cannabis Businesses: Part 2
Todays podcast is the second part of our talk at the Cannabis Collaborative Conference back in January, where we spoke about achieving financial success for cannabis businesses.  The talk is quite long and in depth, so we've broken it up into 3 parts for you to consume. Part 1 focuses on some of the cannabis businesses that have been destroyed by keeping poor books and records.  Today in Part 2 we show Cannabis business owners the 4 keys required to maintain safety and financial success in their business. We also answer questions from some of the business owners in the audience. The questions from some of the business owners will give you a great example of the bad advice they are currently being given and how having the expertise in cannabis accounting makes you extremely valuable to them.  We hope you enjoy this weeks episode.  Please visit: www.dopecfo.com for more information. 
12:52
May 10, 2019
Achieving Financial Success For Cannabis Businesses: Part 1
Achieving Financial Success For Cannabis Businesses: Part 1
Todays podcast is the first part of our talk at the Cannabis Collaborative Conference back in January, where we spoke about achieving financial success for cannabis businesses.  The talk is quite long and in depth, so we've broken it up into 3 parts for you to consume. Part 1 focuses on some of the cannabis businesses that have been destroyed by keeping poor books and records.  Some of these case date back a while, but the majority are from 2018 when things have started to get worse and worse for cannabis businesses and the importance of good accounts and bookkeeping has risen even further.  We hope you enjoy this weeks episode.  Please visit www.dopecfo.com for more information. 
09:12
May 07, 2019
Ep 8: Why picking a great niche is important
Ep 8: Why picking a great niche is important
All the gurus tell you to pick 1 niche.........but how do you know which one is right for you? How do you make sure you can become an expert in that niche, enjoy working in it and provide a world class service to your clients?  Are you really going to find working in the dentistry niche exciting? Are you going to enjoy attending dentistry conferences? Are you going to be able to compete with other established accountants in that niche with years and years of experience?  The cannabis niche is fun! It's exciting! It's the fastest growing industry in the world and these businesses NEED accounting experts in the cannabis industry. It's underserved! You have the opportunity today to enter an uncompetitive environment and become the authority cannabis businesses will actively search you out.  For more info on how to become a Dope CFO please visit our website: https://www.dopecfo.com/  
03:35
April 29, 2019
Ep 7: How To Work Less & Earn More
Ep 7: How To Work Less & Earn More
In this weeks episode we break down exactly how you can start working less and earning more in your cannabis accounting practice.  It's a simple, yet challenging shift in mindset and pricing that you need to make in order to start making serious money and having more time to enjoy it.  If you like to learn more about how you can fast track your way to a successful Cannabis accounting practice, please visit www.dopecfo.com 
09:10
April 12, 2019
Ep 6: 7 Steps to Retaining High Paying Clients
Ep 6: 7 Steps to Retaining High Paying Clients
In this weeks episode we reveal the 7 steps to retaining high paying clients in the cannabis accounting niche. 1. You must have a process 2. You need to be responsive 3. You must have the tools in place 4. You must have a team 5. You must have insights & Knowledge 6. You must have Value Based pricing  7. You must have a shortcut Please leave us a review if you're enjoying our content and please visit www.dopecfo.com to start your journey as a Dope CFO!
10:43
April 05, 2019
Ep 5: How To Attract More Clients: Become a V.I.P
Ep 5: How To Attract More Clients: Become a V.I.P
In todays episode we discuss how you can start to attract your ideal clients for your cannabis accounting firm. We've already discussed how best to find the perfect client........but this is about how you can become a VIP in your niche and have client knocking down your door to work with you.  If you would like more in depth training please visit our free training webinar on our website and start your journey to becoming a Dope CFO today! https://www.dopecfo.com/
09:32
March 29, 2019
Ep 4: How To Find Clients Easily In Your Cannabis Accounting Practice
Ep 4: How To Find Clients Easily In Your Cannabis Accounting Practice
In todays episode Andrew and Naomi reveal the exact process they follow for automating the acquisition of ideal clients for their cannabis accounting firm.  This is done by following the step by step formula F.E.T.C.H Find Email Talk To Them Call To Action  Harvest Following this process you can now automate and predict with certainty the acquisition of ideal clients for your accounting firm.  For more information check out our on demand training webinar!
11:41
March 21, 2019
What Questions To Ask When Hiring A Cannabis Accountant
What Questions To Ask When Hiring A Cannabis Accountant
In this weeks episode Andrew is interviewed by Orleatha Smith from inclusivepay.com.  In the interview they cover : What are the advantages of hiring an accountant instead of relying on software / DIY. How Dope CFO began and how accountants can join the training program.  What are three questions that someone should ask an accountant before hiring them? What are some red flags to look for? Check out our free training webinar for more information
22:51
March 14, 2019
5 Reason Why You Want To Start a Cannabis Accounting Firm!
5 Reason Why You Want To Start a Cannabis Accounting Firm!
In today's episode Naomi & Andrew break down 5 compelling reason why you should start your own Cannabis accounting firm.  For more information please visit our free online training webinar
24:23
March 07, 2019
Ep 1: Can You Really Start A Remote Accounting Firm?
Ep 1: Can You Really Start A Remote Accounting Firm?
In this 1st ever episode of the Dope CFO Podcast, Andrew Hunzicker & Naomi Granger dispel the myth that having a remote accounting firm is an impossible dream.  They discuss how they have made that dream a reality and the benefits they experience in their lives from not being stuck behind a desk, being able to travel, spend time with family and still having a wildly profitable business.  Accounting professionals, are you looking to serve the fastest growing industry in America? Our on-demand webinar is the ticket you need to get started.
18:53
February 28, 2019