Remove cost accounting Remove income tax Remove tax preparation
article thumbnail

Cannabusiness Tax Liabilities and How to Navigate Filing

CPA Practice

147 ensured that these critical costs incurred by cannabusinesses be classified as deductibles for income tax purposes. That’s why if cost accounting wasn’t a major priority for these owners prior to IRC Sec. 471, it’s critical that it is now.

Tax 111
article thumbnail

Learn When Your Should Outsource Your Accounting

xendoo

Outsource accounting firms can often provide experience in unique areas such as: Personal financial planning and assistance. Forensic accounting. Managerial accounting. Tax preparation. The specialized skills of an outsourced accountant typically include experience in tax planning and preparation.

Account 98