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Ex-IRS agent faces trial on medical marijuana dispensary bribery charge

Category: News | Posted on Mon, February, 8th 2016 by THCFinder

SEATTLE (AP) — A former IRS agent in Seattle is set to face trial this week on accusations that he solicited a $20,000 bribe from a medical marijuana dispensary.

Federal prosecutors say that after Paul G. Hurley audited Have A Heart Compassion Care in Seattle last summer, he told its owner that he had saved him $1 million — and suggested that in return the owner, Ryan Kunkel, should pay off his student debt.

Prosecutors say Kunkel agreed to pay Hurley $20,000 instead, but then he reported Hurley's actions to the U.S. Attorney's Office. Court documents say FBI agents observed and recorded two meetings at a Starbucks where Kunkel handed over the cash.

Read More:http://www.usatoday.com/story/news/nation/2016/02/07/irs-agent-marijuana-bribery/79988840/


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Don't Be a Menace - Smokin' Weed

Category: Videos | Posted on Mon, February, 8th 2016 by THCFinder


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NCIA Releases 280E Guide To Help Marijuana Businesses During Tax Season

Category: News | Posted on Mon, February, 8th 2016 by THCFinder
marijuana taxes tax

(via dailyfinance.com)

I get asked all the time for advice and tips on how to start a marijuana business. Most of the time people want to bounce ideas off of me that involve growing and/or selling marijuana. Sometimes it will involve an ancillary industry idea, but for the most part the people that I talk to want to pursue a business idea that involves ‘touching the plant’ as a lot of people in the industry say these days. I offer up my two cents on what it would take to start a garden and/or a dispensary as best I can, and always tell people to take it for what they will considering I don’t operate either type of business.

Something that I’m always quick to point out is the need for cannabis entrepreneurs to know about 280E and how it affects marijuana businesses during tax season. People dedicate a ton of time designing their garden, dialing in their ‘grow recipe’ to maximize their yields, but don’t dedicate nearly as much time researching 280E. It’s understandable – tax code is not a sexy thing. To most people, it’s about the least desirable part of being in the industry. However, it’s extremely important, which I’m sure a lot of people are learning for the first time as they prepare their taxes for their business.

Taxes can be confusing, especially when it comes to 280E. I am by no means a tax expert, but there are fortunately others out there that are. The National Cannabis Industry Association (NCIA) recently released a 280E white paper document that provides a ton of information about 280E. It answers frequently asked questions, such as basic ones like ‘What Is Section 280E?’ Below is an excerpt from the document describing what 280E is for those that aren’t already in the know:

Read More:http://www.theweedblog.com/ncia-280e-marijuana-businesses-tax-season/


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Legal Marijuana in Oregon Comes With a Surprising Twist

Category: News | Posted on Mon, February, 8th 2016 by THCFinder

Pardon the pun, but you could say expectations are high around the country that this could be the biggest year ever for marijuana legalization.

Consumers and legislators are seeing green
To recap, the past two decades haven't been too shabby for marijuana supporters. Some 23 states, as well as Washington, D.C., now allow for physicians to prescribe medical marijuana for specific ailments, and four states -- Washington, Colorado, Oregon, and Alaska -- plus D.C. now allow for the sale of recreational marijuana to adults ages 21 and up. Even a decade ago the thought of marijuana being legal anywhere would have been somewhat far-fetched, but it's a reality now in four states, and perhaps more by the end of the year.

Read More:http://www.fool.com/investing/general/2016/02/07/legal-marijuana-in-oregon-comes-with-a-surprising.aspx


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