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VASEA Spring Seminar Webinar: Marijuana – Current Law & Tax Considerations

About This Webinar


VASEA & NAEA Member Rate
$50 per webinar; $240 for Spring Seminar 6-webinar bundle
IMPORTANT: Members must use membership discount code at time of registration to receive member rates. Do not pay full amount & request refund. An administrative fee will be deducted in those cases.

Non-Member Rate
$70 per webinar; $360 for Spring Seminar 6-webinar bundle

VASEA Spring Seminar Webinar: Marijuana – Current Law & Tax Considerations

The legal marijuana industry finds itself in a very unique tax limbo - while the sale of marijuana is legal (but regulated) in most states, marijuana remains a Schedule I narcotic under federal law. As such, the preparation of tax returns for industry businesses is governed by Internal Revenue Code Section 280E and a number of tax court cases. The program explores IRC 280E, what is deductible and what is not under the most current tax court cases. The course also reviews common errors we recently noticed in reviewing other tax returns.

Learning Objectives
-Review the basics or how marijuana taxation is different from most tax work we see
-Understand Internal Revenue Code Section 280E and its importance when preparing industry tax returns
-Learn the most recent tax court cases and how they impacted preparation of legal cannabis industry tax returns
-Understand IRC 471(c) and the risks and rewards of having your client implement it
-Review common errors seen in in reviewed tax returns

IRS Program Number: QSRNU-T-00482-21-O

Participants will earn up to 2.0 IRS CE / 2.0 NASBA CPE

Field of Study: Federal Tax Law Topics / Taxes

Prerequisites: Participants should have at least two tax seasons experience preparing business tax returns

Who Should Attend: EAs and other tax professionals

Advanced Preparation: None

Program Level: Intermediate

Delivery Method: Group Live presented online due to COVID-19

Refund Policy
Refunds will be honored if written notification is received at the Administrative Office up to 5 days prior to the date of the course. A processing fee of $25 will be deducted from the refund. If the total registration fee was less than $25, no refund will be granted. Transferring the registration to another individual is allowed up to 5 days prior to the program date. Transfers or cancellations within 5 days of the course will not be accepted. “No Shows” forfeit their fees. For more information regarding refund, cancellation and complaint policies, please contact our office at (804) 723-5888.

VASEA reserves the right to cancel any program or course for circumstances that are not under direct control of VASEA. If a course or program is cancelled, registrants will be notified via email at the address listed on their registration form.

Complaint Resolution Policy
For more information regarding refund, cancellation and complaint policies, please contact VASEA Administrator, Heather Greenwell at admin@vasea.org or call (804) 723-5888.

Virginia Society of Enrolled Agents is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Who can view: People who attended or registered for the webinar only
Webinar Price: $70.00
Featured Presenters
Webinar hosting presenter
Chester, New York based John Sheeley, EA began his career in the tax industry in 1987, passing the IRS special enrollment exam in 1995. His career includes 13 years as a multi-unit franchisee of a national tax firm and 5 years as a tax manager at a regional CPA firm in New York. A National Tax Practice Institute fellow, John completed his undergraduate education at the State University of New York at Oswego.

John formed his current tax services firm in 2008, with a focus on the tax and representation needs of U.S. citizens living abroad, and non‐resident alien entrepreneurs and entertainers living and working in the United States. The Firm prepares the occasional cannabis industry and crypto currency tax return.

John is also the founder of Tax Practice Pro, Inc, a national continuing education provider. His current teaching focuses on taxation of legal marijuana businesses, problems of S corps, and taxation of non-resident aliens and those living abroad. He can be reached at john@taxpracticepro.com.
Webinar hosting presenter Eric Duncan
VASEA President & Webinar Host
Hosted By
Knox Taxes webinar platform hosts VASEA Spring Seminar Webinar: Marijuana – Current Law & Tax Considerations
Knox Wimberly's conferences and webinars
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