Reduce Your Taxes With 471 Allocations With Jim Breese CMO at - - PowerPoint PPT Presentation
Reduce Your Taxes With 471 Allocations With Jim Breese CMO at GreenGrowth CPAs Disclaimer The information contained in this webinar presentation is meant for guidance purposes only and not as professional legal or tax advice. Further, it does
With Jim Breese CMO at GreenGrowth CPAs
The information contained in this webinar presentation is meant for guidance purposes only and not as professional legal or tax advice. Further, it does not give personalized legal, tax, investment,
○ Monthly/Quarterly/Annual reporting ○ Setting up accounting system ○ Monitor cash flow
The information contained in this webinar presentation is meant for guidance purposes only and not as professional legal or tax advice. Further, it does not give personalized legal, tax, investment, or any business advice in general.
○ Must use an acceptable methodology for cost allocations
The information contained in this webinar presentation is meant for guidance purposes only and not as professional legal or tax advice. Further, it does not give personalized legal, tax, investment, or any business advice in general.
a. Initial setup & analysis of your financials
c. Monthly cost allocation for tax planning
a. Receive a budget (financial model)
c. A projected tax liability estimate
The information contained in this webinar presentation is meant for guidance purposes only and not as professional legal or tax advice. Further, it does not give personalized legal, tax, investment, or any business advice in general.
○ Many inputs that drive your business financials ○ Run a sensitivity analysis
The information contained in this webinar presentation is meant for guidance purposes only and not as professional legal or tax advice. Further, it does not give personalized legal, tax, investment, or any business advice in general.
○ Calculate your tax savings
The information contained in this webinar presentation is meant for guidance purposes only and not as professional legal or tax advice. Further, it does not give personalized legal, tax, investment, or any business advice in general.
○ Not surprised
○ How much cash to allocate ○ Reduce cash crunch in April
The information contained in this webinar presentation is meant for guidance purposes only and not as professional legal or tax advice. Further, it does not give personalized legal, tax, investment, or any business advice in general.
The information contained in this webinar presentation is meant for guidance purposes only and not as professional legal or tax advice. Further, it does not give personalized legal, tax, investment, or any business advice in general.
○ Direct Costs - product, materials ○ Indirect Costs - rent, utilities, payroll, licensing, and insurance ■ Can’t capitalize indirect costs
○ Direct & Indirect Costs ○ Allowed allocate percentage of indirect costs to COGS ○ Heavy, light, value-added manufacturing
○ Financial analysis for new license ■ Potential ongoing tax reduction
○ What do you have the ability to actually do
○ Bulk flower for pre-rolls ○ Bulk cartridges for branded cartridges
The information contained in this webinar presentation is meant for guidance purposes only and not as professional legal or tax advice. Further, it does not give personalized legal, tax, investment, or any business advice in general.
Revenue $2,000,000 CoGS $1,000,000 Gross Margin $1,000,000 (50%) Tax @ 21% $210,000
The information contained in this webinar presentation is meant for guidance purposes only and not as professional legal or tax advice. Further, it does not give personalized legal, tax, investment, or any business advice in general.
Revenue $2,000,000 Direct CoGS $1,000,000 Additional Allocations $260,000 Gross Margin $740,000 (37%) Tax @ 21% $155,400
Before After 471 Allocations
Reinvest in your business