BGM is one of the first accounting and advisory firms in the world to focus solely on the cannabis industry. Since 2009, our practice has expanded to over 600 cannabis and hemp clients nationwide. BGM works with all types of organizations that provide legal recreational cannabis, medical marijuana, low-THC and high-CBD products, hemp farming, and ancillary services. Our applications services group provides strategic direction to help with the entire cannabis license application process.


280E Mitigation

BGM has been instrumental in developing comprehensive tax strategies to minimize the impact of 280E to improve the profitability and cash flow of cannabusinesses. Our cannabis tax professionals have significant experience with IRS and State 280E audits and our practice has expanded to over 600 cannabis, hemp, and CBD clients nationwide. Our professional advisors have close relationships with many of the top 280E attorneys in the United States.

IRS and State Audit Assistance

In Colorado many of the top licensed cannabis organizations have faced “random” Form 8300 audits at the whim of the IRS and completing the Form 8300 is not always clear.

Cannabis and Hemp Advisory Services

Our cannabis and hemp professionals have helped organizations address many challenges and issues resulting from being issued a new cannabis or hemp license, growth, market expansion, market competition, or other crises. We work closely with cannabis and hemp operators to identify and implement effective solutions to help them optimize profitability and growth, improve workflow and performance, and manage risk.

Cannabis License Application Advisory Services

BGM's Cannabis Application Services Group, in partnership with Bridge West Consulting, can help your business navigate the cannabis licensing application process and set you up for success. Whether you focus on cultivating, processing, distributing, or retail, our experienced team can help.

Business Valuation

Our experienced advisors help cannabis organizations address a wide range of challenges and opportunities and manage risks.  We provide ongoing financial consulting services and a sounding board for owners and managers. Our business valuation services for cannabis organizations are customized and individually tailored to each client’s unique needs. 

Audit and Assurance

Whether your cannabis company needs a financial statement compilation, review, or an audit to satisfy the requirements of state regulators, investors, creditors, or other general purposes, BGM’s experienced cannabis team can help. We provide audit, review, compilation, preparation, and agreed-upon procedures services. Regardless of what level of assurance is needed, we’ll work to thoroughly understand the needs and goals of your cannabis organization.


Since 2009, our cannabis tax professionals have been helping organizations understand all of the tax issues that businesses can face.  The BGM cannabis tax team has developed and implemented customized strategies for over 600 cannabis organizations, including cultivators, processors, dispensaries, delivery services, management companies, and intellectual companies. 

Outsourced Accounting Services

As your cannabis organization grows and evolves, our flexible services evolve with you. If you’ve reached the point where it would be beneficial to have an in-house accounting staff, BGM can seamlessly transfer the day-to-day responsibilities to your team and provide more advanced Controller or CFO consulting services.


Cory M. Parnell, CPA

Cory M. Parnell, CPA, is a Principal and the Chief Executive Officer of BGM. Cory has 30 years of experience working with business owners and senior management in developing strategic business plans, and he has focused on the cannabis industry since 2009. Cory provides a wide range of services to cannabis cultivators (outdoor and indoor), processors (proprietary products or white label services), distributors, and retailers. He helps cannabis operators navigate complex tax and accounting issues, and he provides strategic planning and management advisory services, cash management, budgeting, and capital solutions. Cory is also well-versed in cannabis-related audit procedures, bank financing, implementing best practices, and increasing shareholder value. Together with the BGM cannabis team, Cory advises cannabis and hemp clients through challenging business and regulatory environments, and he manages the team in providing exceptional client service. His technical and advisory services to cannabis and hemp clients ranges from minimizing the effects of IRS 280E, inventory management, inventory costing, cash management, and preparing financial statements. Cory also serves clients in additional industries, including professional service firms, manufacturers, distributors, and retail businesses.

Calvin P. Shannon, CPA, CVA

Calvin P. Shannon, CPA, CVA, a Principal at BGM. With over 20 years of specialized experience in tax, advisory, and business valuation services, Calvin has focused on the cannabis industry since 2009. He assists cannabis operators navigate the complex tax and accounting issues and address the unique challenges and opportunities faced by cannabis industry business owners. Calvin excels in innovative solutions tailored to this dynamic and ever-changing sector. Calvin’s expertise includes a deep understanding of cannabis-related tax strategies, business valuations, and a capability to guide cannabis businesses in their growth and development. His client service approach to the complex needs of cannabis operators sets Calvin apart as a key resource for business owners and other industry advisors in this evolving field. Calvin also serves professional service firms, manufacturers, and retail businesses.