Are you looking to work with Delaware accountants in the cannabis industry?
If you are, we are here to cut your research short to provide what you need. Our expert accountants have worked with companies for a very long time to enhance their finances. With our accounting knowledge and experience, we are seeking to work with cannabis companies in Delaware.
Our hope is to help companies like yours grow financially, maintain compliance, and enhance operations with accounting.
Empowering Delaware Businesses With Confidence Through Expert Accounting Solutions
We at Green Space Accounting, work with many companies to enhance their accounting needs. Whether they want to manage their bookkeeping to keep their numbers in check or elevate their cash flow management to get more revenue, our team of accountants works closely to accomplish their goals.
How We Help:
- Grow Your Delaware Cannabis Business: We help cannabis businesses achieve growth and compliance through expert accounting solutions.
- Financial Clarity & Confidence: Our team works closely with you to manage your bookkeeping, elevate cash flow, and empower you with financial clarity.
- Navigate Complex Regulations: We understand the challenges of Delaware’s cannabis industry and equip you with the financial strategies to handle any situation.
We want to help cannabis businesses in Delaware like yours achieve growth and compliance through the best accounting and financial practices to launch you forward.
Our purpose and vision cater toward helping cannabis companies navigate the highly regulated industry laws and equip them with financial strategies to handle any challenging financial situation.
The Challenge Of Delaware Regulations
To fully equip you with accounting solutions, there are challenges that Deleware’s regulations must overcome. Delaware’s regulations are highly volatile and continue to change every year.
Challenges Occurring:
- Highly volatile regulations with frequent changes.
- Adult use is legal, but only a handful of license applications are available every so often.
- Limited banking options lead to cash-intensive operations.
- Complex tax regulations with potential for penalties.
Our Expertise In Handling Challenges:
- Deep understanding of Delaware-specific cannabis regulations.
- Ability to provide targeted solutions for your cannabis business.
Delaware allows for the medical use and adult use of cannabis allowing companies to get licenses for these segments.
How this affects cannabis companies is the fact that they need a license to operate a cannabis retail store in Delaware and follow strict compliance regulations.
What comes of this is having very limited access to banking options and services to secure money in one location.
Also, many businesses can only operate in cash-only processes making it less secure. There are many variables of Delaware regulations, but these are some of the main concerns, among others.
An accountant helps navigate the cash-only transactions to keep them organized and maintain proper bookkeeping processes.
Maintaining proper tax management is also another issue that can plague many cannabis companies in the industry. Making sure to maintain tax compliance and adhere to tax regulations is crucial to staying in business.
Without recording your proper business taxes and deducting proper costs, you’re going to receive penalties. It’s another reason why hiring a cannabis accountant is necessary to cover your basis.
We understand Delaware-specific regulations and restrictions, which allows us to provide targeted solutions for your cannabis company.
If you want to learn more about our services and what we offer, continue reading to learn more about what we deliver.
Services Offered
We offer straightforward services for any cannabis business wanting to get ahead of its accounting and have more time in their business.
Cannabis Accounting Services
We help maintain your accounts so you can get ready for auditing. Our attempt to keep your business in check is to initiate specific accounts each month to enhance your business operations. This allows us to help improve performance and operations.
Cash Flow Management
Cash flow management is where you get more money in your pocket or your business, every month.
How do we do this?
We analyze your finances to improve recording and management. We also help lower your costs and increase revenue, and profits, so you can do more of what you want or need.
Compliance
The IRS has strict regulations that all businesses must adhere to, regardless of your state. We make sure your business is compliant with the IRS regulations and adhere to strict guidelines.
Why Choose Our Accounting Firm
We’re located near Delaware, closer to your area; making us understand your state’s regulations better. This allows us to identify what your cannabis business needs to thrive and stay compliant.
We also have a proven track record of conducting accounting and bookkeeping processes for other businesses.
Not only that, but you no longer have to worry about working in the business with our help. Doing all the accounting yourself is a lot of work, especially if you are trying to navigate the cannabis industry.
Where We’re Located
We’re located an hour away from Delaware, in Bowie Maryland, and can work with your company to get you the results you need.
Who We Are
We are Green Space Accounting, the leading cannabis accounting, tax, and advisory firm in North America.
We have helped many companies with accounting for over 20+ years and are continuing to grow.
FAQS
How Do You Ensure The Security Of My Financial Data In Delaware?
At Green Space Accounting we take the security of your financial data very seriously. We employ a multi-layered approach to safeguard your information and comply with both state and federal regulations.
Contact us for more information.
What Is The Difference Between A CPA And An Accountant?
Accountants are responsible for handling the daily tasks of bookkeeping, financial processes, tax preparation, reporting, and analysis.
In contrast, CPAs are responsible for performing tasks such as auditing financial statements, representing clients before the IRS, and providing more attestation services.
How Much Do Your Accounting Services Cost?
Our accounting services contain compliance, accounting, taxes, payroll, and a host of other services that depend on the level of service your business needs. To learn more, book a Free one-on-one call with us.
What Are Some Of The Common Tax Deductions Available To Delaware Cannabis Businesses?
The tax deductions available fall in line with 280e IRC where you can only deduct the cost of goods sold (COGS). These deductions aren’t tied to the selling of cannabis, which allows businesses like yours to deduct certain costs like the cost of your inventory.
How Can Your Services Help Me Prepare For A Delaware State Audit?
We understand the unique challenges faced by cannabis businesses in Delaware. Our cannabis compliance services are designed to ensure your business is fully compliant with state regulations and ready for any audit.
What’s Next?
Book a call with one of our professional accountants to understand what your business needs. Don’t worry it’s free!
Whether you need cohesive accounting services, compliance services, cash flow management, payroll solutions, or need license application support, we can support your business in Delaware.
