What to Do When You Get a Cannabis Client

  • Accountant
  • CMA
  • CPA (US)
  • CFIRS
  • CWS

Published: June, 2022

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Ancillary businesses
    4 mins
  • Questions to know right away
    12 mins
  • Determine who your client is
    15 mins
  • The rules in Cannabis constantly change!
    23 mins
  • Know the guiding information for accounting
    32 mins
  • The central tensions in Cannabis
    47 mins

Course Description

As cannabis continues to make its way into the mainstream marketplace, state governments are increasingly legalizing and regulating it for medical or recreational use. The legal cannabis, or marijuana, marketplace represents a projected $21.7 billion industry in 2021, according to cannabis data analytics firm BDSA.

Despite its significant size, the industry poses many challenges. Most businesses are subject to various licensing, permit, and registration requirements. These are put in place for public safety, tax, or other reasons. Because the cannabis industry is heavily regulated, licensing for cannabis businesses is particularly complicated. Compliance requirements not only vary from state to state, but they can also change depending on your business category (cultivation vs. retail, for example) and which city or county you’re planning to operate in.

It's not a matter of "if" but "when" some client from the cannabis industry reaches out for full-service accounting, tax planning, or help with a business plan.

What do you do?

How can you prepare yourself for this multi-billion-dollar industry?

This CPE course is designed to introduce bookkeepers, tax professionals, accountants, and attorneys with tools for analyzing how to begin the work with clients who are in the cannabis and ancillary industries.

To attend Sales & Use Tax Continuing Education Courses CLICK HERE

Learning Objectives

  • To recognize the analysis required when meeting a client from the cannabis industry. 
  • To familiarize themselves with the pitfalls that can occur when working in the cannabis industry. 
  • To discuss that the cannabis client's needs differ from the CBD client's needs.
  • To explore the implications on their professional career of working in the cannabis industry.

Recommended For

  • This Online CPE webinar is recommended for CPA, CMA, CFIRS, CWS, and other professionals who desire to support their cannabis clients.

Who Should Attend?

  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 General Credit for Accountant/Bookeeper
  • 1 CPE Credit of Business Process Improvement for Certified Management Accountants (CMA)
  • 1 CPE Credit of Specialized Knowledge for Certified Public Accountants (CPA-US)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Paula Collins

Owner, Law Office of Paula Collins, PLLC

I take a personal interest in my clients and specialize in helping them find solutions to all of their business and individual needs. This means that my clients trust me on a wide range of legal and financial issues that affect their daily lives.

After an early career as a professional pianist, I began to do Tax Preparation for myself and my fellow musicians. This experience is one component of my ongoing practice of providing legal representation to individuals in contracts. I also saw the necessity of protecting assets through Wills, Trusts, and Estate Planning.

In addition to my tax and legal expertise, I have ten years of experience as a Special Education Teacher with NYC Teaching Fellows. Because of this, I have seen firsthand the importance of providing legal representation for those with special needs. The problems faced by these individuals are not abstract concepts to me.

I am a graduate of Brooklyn Law School with a Certificate in Intellectual Property, Media, and Information Law. While in law school, I won the Center for Urban Business Entrepreneurship (CUBE) competition for  an app design to help Indie Filmmakers in developing contracts. Additionally, I won Regional Law School Mediation competition. This award alone is indicative of my ability to find solutions.

Faq

FAQs content

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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

4.4

7 Ratings

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VW

Vernon Walker, CPA (US)

Jul 24th, 2022

Good

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