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Barney Frank To The Marijuana Industry: “Thank You For Being Responsible”

Category: News | Posted on Tue, February, 9th 2016 by THCFinder

Today was one of those days that I had to pinch myself because I felt so lucky. I got to attend a brunch fundraiser for legendary United States Representative Earl Blumenauer (D-OR), who has fought for the cannabis reform movement for a very long time, and continues that support as more states allow a thriving cannabis industry to exist by leading the charge in Congress. The fundraiser was hosted by the National Cannabis Industry Association (NCIA). Speaking at the fundraiser was another individual that led the charge for many, many years in Congress. That individual was former Congressman Barney Frank (D-MA).

I have never heard Barney Frank give a speech before, and definitely haven’t heard him talk now that he is out of Congress. Mr. Frank was known for being outspoken in Congress, and now that he is retired I was expecting some particularly candid opinions to be shared. The speech was nothing short of epic. Barney Frank has a way of getting to the point extremely quickly, and in a way that leaves no doubt as to how strongly Mr. Frank feels about the subject.

Read More:http://www.theweedblog.com/barney-frank-to-the-marijuana-industry-thank-you-for-being-responsible/


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What strain are you smoking on today?

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


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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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