myCPE
myCPE

What to Do When You Get a Cannabis Client 1 Credit

May 28, 2024, 10:00 AM ET

What to Do When You Get a Cannabis Client 1 Credit

  • Rating

    4.6
  • Reviewed on

    March, 2024
  • Subject Area

    Specialized Knowledge

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May 28, 2024, 10:00 AM ET

Learning Objective

  • 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.

Course Overview

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 course covers the following Major Topics: 

  • Ancillary Businesses
  • Determine who your client is, and questions to know right away
  • How much decision-making ability does your client have in the business?
  • The Rules in Cannabis Constantly Change!
  • The central tensions in cannabis, and knowing the guiding information for accounting and tax
  • Steps to Take When You Get Your Cannabis Client

This CPE course is designed to introduce bookkeepers, tax professionals, accountants, and attorneys to 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. 

Podcast Credits

Short Video Credits

On Demand Credits

Live Credits

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Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

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.

About Instructor

Paula Collins
Paula Collins

Owner, Law Office of Paula Collins, PLLC

  • 4.6
  • rating
  • rating
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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.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

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EC

Elizabeth Caldwell, CPA (US)

Very interesting subject, presenter has lots of knowledge and insight on the industry and presents it very clearly. Great class given the growth in the industry and potential need for this valuable information.

EC

Elizabeth Caldwell, CPA (US)

Very interesting subject, presenter has lots of knowledge and insight on the industry and presents it very clearly. Great class given the growth in the industry and potential need for this valuable information.

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Inclusions
  • Multiple Credits
    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

  • Credit Tracker
    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault
    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders
    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access
    Mobile App Access

    The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support
    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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