Check This Before Hiring a Cannabis Accountant
It is through numbers that you get to make a company big. The cannabis business are currently being crowded with so many customers coming on board and desperate times need despite measures. This means that you have to keep your business in order. You need to ensure that you have due professionalism for the business to continue progressing. It is very important for the business when you already have the person that you can work with. You need a bookkeeper that you can run with when the IRS or the state authorities come knocking. The accountant will always be your right-hand person there for you need to be very careful with the selection process. The wrong selection could mean the end of your business and can even see you in prison.
When you need a report on any financial in the organization either for the management of the IRS requirements you need to see the bookkeeper. There are government fillings and state requirements records that the bookkeeper has to present. To aid your hiring process we have come up with a few things that you must see through so that you can have the best hiring process that will make you have the best staff.
The first thing is that you need and understanding are the types of the accounting professional there are. Some accountants get to confuse businessmen. You should get to know and understand the working of the CPA, the bookkeeper, and the enrolled agent. The CPA is the certified public accountant. To become a CPA there are relevant papers that you must take. The CPA is an accountant that can examine and audit your financials. Upon them also is the mandate to give an opinion on the status of your financial records for your business.
You also need the bookkeeper who is responsible for the assembly of the information that is required for the business use. The information can be required for a state of the government filings.
The enrolled agent is also an accountant. The enrolled agents represent your interests before the IRS ad they have also been trained to prepare returns. So that they can be certified, they have to go through a thorough exam on IRS.
The baseline for selecting an accountant should not be short of honesty and diligence. You need a right-hand man that you can trust. Be keen to notice fishy deals among the accountants. Take note whenever they fail to give you a response. An accountant who takes shortcuts they think is creativity are not fit for your business. These are people that can get you imprisoned. The accountant that you hire should very well understand the marijuana laws that have been put in place.
To wind up, as you make your decision on the accountant you will work within your cannabis industry, always choose a person with strong personal networks.