Money-Managers

Why is tax planning crucial for cannabis businesses?

Verlin Taylor — Thu, 27 Jul 2023 11:11:06 +0000

Tax planning is crucial for cannabis businesses to navigate the complexities of the industry’s unique regulatory environment, minimize tax liabilities, and maximize profits while ensuring compliance with applicable laws and regulations. Consulting with experienced tax professionals familiar with the cannabis industry can be invaluable in developing a comprehensive tax strategy tailored to the specific needs of the business. Tax planning highlights if a business has correct tax structure, need to make budget adjustments, eliminate unexpected tax bills and reduces future tax penalties.

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Why two merchant accounts?

Verlin Taylor — Thu, 27 Jul 2023 10:59:19 +0000

Risk management
- mitigate risk, separate regular transactions from high risk
Different customer base
- B2C and B2B, online versus brick and mortar
Tax and accounting
- Tracking and managing financial data
Improved cash flow
- Prevent processing limits from being reached
Negotiate better terms
- If one processor provides a better rate, gives leverage to lower
  rate on higher account

Contact Verlin @ verlin.taylor@money-managers.com if a second merchant account is needed for your cannabis, healthcare, retail, SAAS or service business.

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Secure your cash with a smart safe

Verlin Taylor — Sat, 22 Jul 2023 14:58:09 +0000

In today’s fast-paced world, efficient cash management is essential. Whether you’re a cannabis dispensary, entertainment venue, healthcare provider or other retail establishment, ensuring the safety and security of your cash is paramount. That’s where a smart safe comes in. With its advanced features and cutting-edge technology, a smart safe not only provides a secure storage solution but also offers a range of benefits that can revolutionize your cash handling process. From enhanced security measures to streamlined cash counting, provisional bank credit and reporting, a smart safe can transform your cash management practices. This gives you peace of mind and helping you make the most of your valuable resources. Let’s eliminate manual cash handling inefficiencies and transition to a smarter, more secure way of managing your cash.

Product information on smart safes and cash recyclers are available at https://money-managers.com/smart-safe/. Need cash handling advisory with the purchase of a smart safe? Contact Verlin, verlin.taylor@money-managers.com.

#cashflowmanagement #cashhandlingprocedures #cannabis #retail #dentalpractices #primarycarephysicians #smartsafe

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