Expectations are high in Arizona’s cannabis industry and throughout the U.S. as we forge forward in 2021.
Despite the financial, operational and legal challenges facing the cannabis industry, significant growth is expected in Arizona and throughout the U.S. Establishing a consistent and effective risk framework to address these challenges will minimize losses in the future.
ASCPA’s Cannabis Special Interest Section Update The cannabis industry is anticipating high-speed growth potential particularly here in Arizona. Despite the many challenges faced by the industry in 2020, Arizona product sales increased and tremendous growth is expected as a result of recent legalization.
Often in divorce, a court order stipulates which parent may claim a child or children on their taxes. This can also be used as a bargaining chip for either party when negotiating an agreement. But, what does the Internal Revenue Service (IRS) say about who can claim a child? While a local court may stipulate[ … ]
Earlier this year, BeachFleischman’s Josephine Giordano moderated a panel discussion for the newly formed ASCPA Cannabis Special Interest Section covering legal and regulatory challenges, dispensary operations, and accounting and tax issues for cannabis and hemp industry in Arizona. Her article about that panel discussion will be in the May/June issue of AZ CPA magazine.
The Arizona economy and our local businesses are suffering significant distress in these uncertain times. A business’ going concern premise is compromised as growth and cashflows decline and risk increases. Financial distress is a condition in which a company or individual cannot generate revenue or income resulting in challenges in paying its financial obligations. This[ … ]