Tax Return Preparation for Cannabis Businesses

Conflicting state and federal laws can make preparing tax returns for cannabis businesses particularly challenging. One common area of confusion for the adult-use cannabis business is IRC section 280E or the cost of goods sold deduction. Cendrowski Corporate Advisors tax specialists use recognized strategies for dealing with 280E and help develop structures and procedures to achieve 280E goals. We can also assist with Form 8300 filings so that any cash payments received over $10,000 are correctly reported.

Form 8300 Cash Reporting Requirements

Form 8300 filings require the reporting of cash payments received over $10,000 in a trade or business. Failure to properly report these payments can result in severe civil and criminal penalties for non-compliance. These Form 8300 filings must be filed within 15 days after receiving cash, and the supporting documentation should be kept a minimum of 5 years from the filing date.

Harry Cendrowski - Smart business Dealmakers Conference

Harry Cendrowski | Smart Business Dealmakers Conference | Navigating M&A Uncertainty

We are excited to announce that Harry Cendrowski, the founder of Cendrowski Corporate Advisors, will be on the Liquidity panel at the upcoming Smart Business Dealmakers Conference: Navigating M&A Uncertainty. The liquidity panel plans to dive into the complex task of preparing your business for liquidity planning. This event is a must-attend for middle-market CEOs, […]

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The Role of a Forensic Accounting Expert Witness in Legal Proceedings with Cendrowski Corporate Advisors

The Role of a Forensic Accounting Expert Witness in Legal Proceedings

Forensic accounting expert witnesses play a crucial role in legal proceedings, providing their specialized knowledge and expertise to assist lawyers and accountants in complex financial cases. Explore the responsibilities and significance of these professionals in resolving intricate financial matters within the legal system. Understanding Forensic Accounting Expert Witnesses A forensic accounting expert witness is a […]

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S Corporation to LLC

S Corporation to LLC: Unleash Growth Opportunities

S corporation to LLC: The Path to Expansion and Appreciation Jim Schultz, a Principal at Cendrowski Corporate Advisors, and head of the Chicago business valuation practice, discusses the benefits of switching from an S corporation to an LLC.  Discover how this strategic entity structure move can revolutionize your business, reduce income taxes, attract new investors, […]

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