Accounting, Tax and Advisory Services for the Cannabis Industry
Boeckermann Grafstrom & Mayer provides services to the cannabis industry through its subsidiary Bridge West
Bridge West CPAs and Consultants LLC is one of the first accounting firms in the world to focus solely on the cannabis industry. Jim Marty founded Bridge West in 2012, after working with small businesses for more than 30 years in his public accounting practice.
Since 2009, the practice has expanded to more than 600 cannabis, hemp and CBD clients nationwide. Our CPAs and advisors have guided hundreds of U.S. and international cannabis businesses through a very challenging business and regulatory environment. From minimizing the effects of IRS 280E, to inventory management, and preparing audited financial statements, our services address the industry’s most unique and ever-evolving issues. Our cannabis tax professionals have assisted in over three dozen cannabis IRS, state and city audits. Our team of more than 100 professionals provides our valued clients the full support they need.
Bridge West works with all types of organizations that provide legal recreational cannabis, medical marijuana, low-THC and high-CBD products, hemp farming, and ancillary services. We also regularly partner with law firms and tax attorneys to defend our clients against taxing authorities. Our professionals are often retained as expert witnesses in tax and legal matters, and as advisors in mergers and acquisitions. In addition, we actively lobby for legal recreational use of cannabis nationwide.
Making the right decisions at the right time is critical for any business. For cannabis businesses, the importance of timing increases tenfold because the legalized marijuana marketplace is ever evolving. Legislation is constantly changing and operational challenges can arise when least expected.
From preparing your books to implementing internal controls, we can help manage — and protect —cash-intensive businesses.
- Outsourced controllership and bookkeeping
- Cash management
- Internal controls
- Inventory controls and costing
Auditing and Financial Statements
Investors and regulatory agencies often require financial statements.
- Audited financial statements
- Reviewed financial statements
- Compiled financial statements
We assist in cannabis business compliance with federal and state regulations.
- Entity selection
- Tax planning that addresses IRS 280E
- Individual and business tax returns (federal and state)
- State and local sales and use tax consulting
- IRS and state audit representation
We provide a wide range of consulting services from point-of-sale strategies to minimizing the effects of IRS 280E.
- Point-of-sale strategies
- IRS Code 280E mitigation consulting
- Cash controls and processing procedures
- Accounting software implementation
- Inventory costing methods
- Inventory management to maximize profits
We offer a complimentary initial consultation for cannabis industry professionals. Contact Calvin Shannon, Principal of BGM, at (952) 844-2500 or [email protected] to schedule a mutually convenient time to meet. You can also download the Accounting, Tax and Advisory Services for the Cannabis Industry Fact Sheet.