Orange County Chapter

(714) 546-0445

Chapter President

Joyce E. Cheng, EA
(714) 546-0445

Chapter Events

DateEvent NameDescription
11/29/2017SeminarJohn Sheeley EA will be sharing his expertise in this 9 hr. CPE class from 8:00am-5:00pm. The legal marijuana industry finds itself in a very unique tax limbo - while the sale of marijuana is legal (but regulated) in many 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 court cases. This course explains the narrow legal exception permitting practitioners to work with clients reporting state legal cannabis related income. The course further explores the basics of preparation issues and the application of IRC 280E, 263A and 471 in unison with applicable Tax Court decisions.