What We Do For You
MindfulCPAs is a full-service accounting firm dedicated to the Cannabis industry. We deliver VALUE to our clients in the following ways:
First, we are experts in Cannabis, including the accounting, tax, politics, operations, products, and associated risks. As part of our expertise, we provide a world-class system for protecting our clients’ Assets and maximizing their value. Second, we implement strategies to maximize your CASH. We strive to minimize tax by implementing full-absorption cost accounting, providing useful cash forecast tools and useful analytics, and budgeting tools. Lastly, we protect you from LOSS. What is the value of knowing you have implemented a world-class system designed to survive an IRS audit years down the road? What is the value of protecting you from a lawsuit from an investor?
Each month, we provide GAAP compliant Financial Statements, metrics, and forward looking cash forecasts. Annually, we assist in the budgeting and forecasting process, as well as provide support for any required reporting for auditors, lenders, or investors.
Our suite of services can be customized to fit an individual company’s needs. Whether you are a stand-alone retail dispensary, or a commercial cultivator, our team of experts has the knowledge and expertise to serve your needs. We work with our clients closely in order to develop an intimate understand of the business operations, and provide a customized solution.
See below for more information on the services we provide.
Accounting
As a full-service accounting firm, we provide accurate record-keeping and complete operational accounting, including month-end close procedures. Our firm will perform the necessary review and clean-up procedures of existing accounting records, and implement proper GAAP accounting and compliance. Thich includes utilizing full-absorption cost accounting to maximize your cost of goods sold, while ensuring compliance with 280e.
All of these records and transactions will be recorded in a Perpetual Data Room where all corporate contracts, documentation, and support for financial transactions will be stored in an easy to access location available to management and investors at all times.
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Advisory
Let our team prepare critical monthly or quarterly reports that will assist management in decision making. We prepare Quarterly GAAP Financial Statements, including a detailed tie-out for management and investors. We also prepare a 6-month rolling cash forecast to ensure our clients are well capitalized.
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Tax
Today’s tax laws are complicated, and dealing with the IRS is confusing and can become time-consuming. Further complicating matters is the strict regulatory environment that comes associated with the Cannabis industry.
Let MindfulCPAs work with you throughout the entire year on tax planning and strategies. The biggest priority is ensuring compliance with 280e by utilizing full-absorption (GAAP) cost accounting throughout the entire year, not just once per year. With this intimate knowledge of the accounting records, we offer our clients seamless tax preparation and filing of their annual tax returns.
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