What might be included in COGS (Cost of Goods Sold) for a cannabis company?

This course is will discuss specific items that may or may not be included in Cost of Goods Sold (the only reduction in taxable income) for the various types of cannabis businesses subject to IRC 280E. It will explore the Regs. 1.471-11, 1.471-3 and 1.471-1(c) as well as guidance from the US Tax Court to help answer those client questions, i.e., "can I deduct interest on my hard money loan?".

This course qualifies for 1 NASBA & 1 IRS CE Credit.
IRS Program #: 7Q3WU-T-00226-21-O

This course is part of a monthly series "Out in the weeds of weed taxation" offered the 2nd Friday of each month at 4:00pm (EST) and is available on-demand.

Here is the link to buy the entire series: https://www.bigmarker.com/series/out-in-the-weeds-of-weed-tax/series_summit