Author: Dorron Blumberg

Deductible Payroll Expenses for Cannabis Businesses

Leave it to the IRS to have written specific tax code for just about every profession and activity imaginable, both legal and illegal. Unfortunately, in the case of a state legal cannabis-based business, that falls under tax code §280E which was written for trafficking illegal drugs. This 1982 code states that “no deduction or credit shall be allowed for any amount paid

Read More

Federal Taxation of Cannabis – An Overview

In 1982, Congress enacted Internal Revenue Code Section 280E, which states:

“No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of the trafficking in controlled substances

Read More

Understanding the Opportunities and Challenges of Investing in Behavioral Health Services

A 2018 survey by the Substance Abuse and Mental Health Services Administration (SAMHSA) found that approximately one in five adults (47.6 million) in the U.S. had experienced a mental illness in the past year, and 17.7 million suffered from a major depressive episode. The need for behavioral health services has accelerated significantly in the United States.

Read More