How to Hire an Accountant for Marijuana Business?

Posted by Sunder Singh on September 10th, 2018

Are you looking to hire an accountant for Marijuana business? If you are then here are some tips that you may use:

Services Offered

When you are looking for a weed accountant, you will have to find out what kind of services is offered by the firm.

• Do they offer services to growers?  If you happen to be growers or cultivator, you will look for an accountant who understands the operations. The accountant should be well-versed with the compliances and the legal complexities to avoid any challenges.
• Can they take care of the retail business operations?  Those who are in the retailing of marijuana know that 280E limits the dispensaries. Only an experienced accountant will be able to take care of the 280E analysis of the books. They can well make the strategies and lay down the procedures to help maximize the deductions.
• Are you a manufacturer of Cannabis products? Do you take care of Edibles & oils? Then you will have to hire an accountant who caters to this vertical. Your business may need a top-notch CPA to handle the accounting.
• Those who are Ancillary Partners also need cannabis accountants. And when you have an experienced one it helps.

Experience

When you are hiring a Cannabis accountant, you may have to face a lot of challenges as there may not be too many candidates with relevant knowledge. So it is better to look for the experienced candidates only and those who have the relevant experience. You need to ask whether they have related skills and the experience clearly. Having soft skills is a must as the specific industry knowledge may be taught.

Level of Motivation

The top candidates see an opportunity in the cannabis business. The top candidates see an opportunity in this business. As it is still infancy, there may be many opportunities to grow into senior roles and take on more responsibility as the industry grows in the coming years.

Look For Cultural Fit

It is always better to look for the candidates who fit the culture. The industry has its vibe and characteristics which make it unique. You will have to communicate with your weed accountant frequently, so it is better to ensure that no cultural issue creates friction.

In The End

Make the best use of these tips, and you will have an accountant who delivers the results.