2019 Cannabis Business Tax Checklist

Download our 2019 Cannabis Business Tax checklist. Our guide will help you as you begin to prepare your 2019 cannabis taxes. 

Reach out to Washington Advisory CPAs today!  337-888-4829

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Miscellaneous Documents & Information (if applicable)

  • Tax Returns for prior 2 years
  • Copies of sales, excise, & local tax returns
  • Cash handling log
  • Monthly bank statements
  • Articles of Incorporation
  • IRS issued EIN
  • Sellers permit number
  • Balance sheet
  • Profit and loss statement
  • List of business owners & % ownership
  • Social security numbers of each owner
  • Building information – lease & tenant improvements
  • List of new assets purchased + receipts
  • QuickBooks login info
  • POS login info
  • Inventory tracking software login info
  • Loan/funding documents

Income

  • Gross receipts – THC vs. Non-THC
  • Returns and allowances
  • Business checking/savings account interest (1099-INT)
  • Other income

Fill out the form below to get your 2019 Cannabis Business Tax checklist in a PDF.

Cost of Goods Sold

  • THC Purchases
  • Non-THC purchases

Expenses

  • Advertising
  • Bank charges & finance fees
  • Commissions/fees
  • Contract labor (1099-MISC and 1096)
  • Computer & Internet
  • Health insurance
  • Other insurances
  • Interest expense (mortgage + business loan)
  • Meals & Entertainment
  • Office supplies
  • Rent (Building, business vehicles, equipment)
  • Utilities
  • Repairs & maintenance
  • Misc. Supplies
  • Taxes paid
  • Licensing fees
  • Transportation & travel
  • Wages paid to employees (W-2 & W-3)
  • Payroll tax returns
  • Employee benefits
  • Other expenses

Get help with your cannabis business tax filings. Reach out to Washington Advisory CPAs today!  337-888-4829

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Sleep in. Let your CPA take of your taxes this tax season.