WASHINGTON — The Blunt Accountant, an innovative cannabis accounting firm unveiled CannAccounting in a Box, a turnkey accounting solution designed for newly licensed plant-touching startups to ensure they are IRC 280E compliant and audit ready before they open their doors. CannAccounting in a Box is part of a comprehensive set of cannabis accounting services The Blunt Accountant developed to help plant-touching canna-business owners better manage their accounting operations.
IRC 280E Compliance and Proper Accounting
“We created CannAccounting in a Box to help plant-touching owners become compliant early on, as well as educate them on IRC 280E compliance before they open their doors,” said Angela Mays, chief CannaBusiness strategist and founder of The Blunt Accountant. “But, too often, new owners are so overwhelmed with running their businesses that they ignore the importance of proper accounting, which leaves them vulnerable and unprepared for potential IRS audits. For these reasons, I created CannAccounting in a Box.”
CannAccounting in a Box is a proprietary solution that gives canna-business owners the tools they need to set up IRC 280E-compliant accounting operations. The solution is based on the three audit areas the IRS will focus its audits. The goal is to make sure a new business is IRC 280E compliant before generating the first sale.
“What we offer with CannAccounting in a Box and through The Blunt Accountant is value far beyond a financial statement. Our goal is to bring value to a CEO that highlights their business return on investment among other important factors that improve their bottom line.”
Mays developed CannAccounting in a Box after working with plant touching businesses and seeing a need for them to focus on accounting earlier when they started the business as opposed to later after they had opened the doors. Her successful, professional accounting career working with Big-4 accounting firms where she routinely conducted audits, fraud risk management, and business process reengineering is what contributed to the development of CannAccounting in a Box. Considering her expertise in canna-business accounting requirements and corporate accounting, The Blunt Accountant and Angela Mays are set apart from traditional accounting firms and services, making Mays a CannaBusiness Strategist and needed presence in the cannabis industry.
Helping Sustain Canna-Businesses
In December 2022, the Diversity Equity Inclusion Cannabis Industry Report was released by MJ Biz. It showed the loss of social equity businesses from 20.7 percent in 2021 to 15.4 percent in 2022. These numbers signal an urgent need for social equity business owners to align more with business professionals with essential services that will help sustain their businesses. While these owners face a myriad of challenges, having suitable accounting systems in place early on becomes one less barrier they will face.
As CannaBusiness Strategists and 280E Audit Readiness Experts, The Blunt Accountant’s new CannAccounting in a Box announced today is harnessed by the firm’s range of canna-compliance solutions and audit readiness services.
“CannAccounting in a Box is a game changer for new plant-touching business owners to become, and stay, compliant while preparing their businesses for long-term success and growth.”
About The Blunt Accountant: Cannabis Accounting & Consulting Group d/b/a, The Blunt Accountant, are canna business strategists and audit readiness experts specializing in IRC 280E compliance for plant-touching businesses. Contact them at TheBluntAccountant.com.
