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Segregation and separation can be a good thing.
The person collecting money for your cannabusiness should not be the one that is in charge of doing the receivables or doing the reconciliations.
Segregate and separate those three tasks to three different people.
Person 1 - collects the money
Person 2 - invoices for the money
Person 3 - reconciles the money.
This allows for lesser chances of collusion, lesser chances of people walking with money and lesser chances of being fined or penalized
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While the legalization of Cannabis is still new and being regulated for growing, packaging, distribution and sales, the IRS is old and has many regulations for businesses that can not be ignored, avoided or taken lightly.
Shortcut this and things can get very taxing.
If you are playing in this new field:
Look to those with authority, expertise and knowledge that can not only help you with your taxes, but are also up to date with all of the rules, regulations, propositions, amendments and sh
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