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LC Solutions Michigan: Turn-Key Accounting for Cannabis Entrepreneurs

LC Solutions Michigan PLLC is a turn-key accounting agency for all official and ancillary participants in Michigan’s medical and upcoming adult-use cannabis industries.

Under the adult-use legalization initiative approved by voters last year, Michigan regulators are set to begin accepting adult-use business license applications by December 2019. Accordingly, the state released emergency draft rules for the industry in July, and businesses looking to get in on the ground floor of Michigan’s new adult-use industry are already scrambling to position for licensing and ensure regulatory compliance.

LC Solutions Michigan PLLC — the state’s only CPA firm that is dedicated exclusively to the cannabis industry — is prepared to help cannabis entrepreneurs formalize their business plans, ensure regulatory compliance, and deftly maneuver cannabis’ complicated financial accounting and tax landscape.

According to Kareyna L. Miller CPA, founder of LC Solutions Michigan, cannabis entrepreneurs are usually most concerned with filing taxes, but there are a lot of other frequently overlooked obligations to maintaining a successful and compliant cannabis operation.

“We work one-on-one with businesses,” Miller said. “The amount of financial accounting compliance this space requires can be very difficult to get through, especially for businesses who are transitioning from the unregulated market.”

LC Solutions experts can help with:

  • Starting a cannabis business and putting your business plan to work,
  • Strategic consulting, including payroll and financial projection preparations,
  • Compliance-minded bookkeeping and financial record keeping,
  • Cannabis tax preparation, including navigating Section 280E and more.

Michigan’s adult-use emergency regulations have been finalized and, with the state’s future cannabis license holders positioning themselves for the new market’s launch, the time for smart preparation is now.

As the state’s first woman- and patient-owned cannabis industry CPA firm, the team at LC Solutions Michigan PLLC boasts talented individuals with up to 30 years of accounting experience, as well as deep connections with the industry and a first-hand understanding of the regulatory requirements for operating in the cannabis space. The firm’s CPAs are uniquely positioned to help entrepreneurs prepare an intelligent and strategic entrance to the budding cannabis industry, whether they are coming into the space as a former caregiver or as an ancillary service that will work alongside licensed cannabis companies.

Visit LCSolutionsMichigan.com to learn more and schedule a consultation.

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