IRS §280E and its Application to the Cannabis Industry
IRS §280E is creating a difficult environment for the emerging cannabis industry. This particular section of the IRS tax code disallows all business expenses, and only allows the taxpayer the ability to deduct cost of goods sold from their gross income.
This book provides guidance in minimizing the tax bite of IRS §280E. It will walk you through the necessary formulas to capitalize many business expenses, which will allow you to increase your cost of goods sold and reduce the tax bite.
The book is a complete guide to understanding all of the nuances of IRS §280E, and how to apply it. Within the book there are six different business cases for different cannabis businesses.