About Brigid Galvin
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Meanwhile lets just say that we are proud Brigid Galvin contributed a whooping 75 entries.
Last week I had a great trip to Illinois and was able to spend time with current and prospective operators, cannabis legal professionals and cannabis consultants. During my meetings, I heard a common theme: the state of Illinois is trying to be the leader in social justice in awarding adult-use cannabis licenses and in providing […]
This past summer, I was lucky to get a glimpse into the world of a cannabis accounting pioneer, Jim Marty, the CEO and Founder of Bridge West LLC. Bridge West is a CPA and consulting firm that has been entirely devoted to serving cannabis and hemp professionals since 2009. Jim began his practice with his […]
All good business plans require a financial projection. Creating a financial projection is both an art and science. A financial projection will include projected sales, budgeted expenses, a balance sheet, cash flow, and sources and uses of funds. Also, a financial projection will help determine how much funding will be needed and the projected return […]
As cannabis companies continue to move to the public markets in Canada, high quality inventory records become much more important. Not only is there greater disclosure and scrutiny of financial information, but International Accounting Standard 41: Agriculture (IAS 41) requires additional computations on biological assets (plants and all inventory derived from those plants) to bring […]
Form 1099 is an important tax document that all businesses must file when applicable. There are several variations of forms 1099 and one should be filed when a business pays over $600 for a service. Who Gets a Form 1099? It starts by obtaining a signed form W-9 whenever a new vendor is set-up in […]
I was recently speaking with a someone who entered into a Letter of Intent to sell their cultivation and processing license for tens of millions of dollars. The buyer’s due diligence team determined that the company had not been filing Form 8300. In total, the seller should have filed over 250 Forms 8300. The seller […]
I joined Bridge West last year, and recently attended my first MJBizConNEXT conference in New Orleans. It was a great opportunity to learn about industry updates and meet with other industry professionals in a fantastic setting. MJBizCons always attract a variety of enthusiastic cannabis and hemp industry professionals who provide a wide range of products and services. It is encouraging to see professionals eager to solve problems in the cannabis and hemp industries. It is also exciting to foresee the future of the industries, and help our clients grow and adapt to the changes.
Over the past year, Bridge West has been working closely with many hemp and CBD clients on setting up their businesses and financial projections. The demand for CBD has sky-rocketed and farmers and business owners are very interested in supplying that demand. Although there are notable differences, and each industry has unique challenges, our expertise […]