Cannabis News

U.S. Attorney Bob Troyer Issues Statement Regarding Marijuana Prosecutions in Colorado

Yesterday, Attorney General Jeff Sessions rescinded a trio of memos from the Obama administration that had adopted a policy of no-interference with marijuana- friendly state laws. Under the new guidance, U.S. Attorneys are directed to make their own judgements on what to prosecute. They are told to make decisions regarding what crimes to prosecute based […]

CPA Trendlines article on CEO, Jim Marty: Building a National CPA Firm for the Cannabis Industry

By Liz Gold As a CPA in Colorado, Jim Marty saw a need for a large, sophisticated accounting firm to handle the booming cannabis industry. As a result, he designed his Longmont, Co.-based firm, Bridge West CPAs – focused solely on cannabis clients – to be acquired. And as it turned out, his plan and […]

Thanks for the warm hospitality in Pennsylvania

Our combined presentation with Bridge West and the Hoban Law Group went off without a hitch. We had over 80 people in attendance. Cory Parnell and I gave a one hour slide show on cannabis tax and accounting issues, and Steve Schain and Bridget Hill-Zayat followed with an overview of some of the regulatory hurdles […]

U.S. Tax Court filings by IRS and a 9th Circuit Court of Appeals recent decision supports Bridge West and Jim Marty tax positions

In a recent response filed by the IRS to the U.S. Tax Court in the case of Jabari v. Commissioner where I was vigorously cross examined on the witness stand by the IRS, the attorneys for the Service noted that I had correctly applied Internal Revenue Code section 280E on the Petitioners 2010 and 2011 […]

Jim Marty Speaks in New York City

I spoke at the Cannabis World Congress and Business Expo at the Javits Center in Manhattan earlier this month.  My talk on what’s new in cannabis tax and accounting was very highly rated and my niece filmed on her iPhone for an upcoming TED talk by me. The most interesting part of the Expo for […]

Takeaways from my trip to Washington DC

I spent five days in our Nation’s Capital last week for Lobby Days with the National Cannabis Industry Association, the trade group for legal marijuana businesses.  The mood was surprisingly upbeat despite concern about how the Trump Administration and the Session’s Justice Department will deal with state legal cannabis. My partner, Cory Parnell, and I […]

Business Valuations: Normal as apple pie?

Valuing a cannabis-related business would not be much different from valuing any other business except that this business is based on a product that is illegal to grow and sell under current federal law. When valuing a cannabis business, you can often approach the cash flow analysis with the same formula used in many other […]