How is mesha different from other Accounting and Bookkeeping Software?

mesha is an all-in-one automated solution for your business. Be it Catchup Bookkeeping, Consulting an Accountant or just day to day Business Accounting, mesha aims to make everything related to Accounting as well as Bookkeeping easy for businesses and Accountants.

Can I sign-up for a Free Trial?

You can definitely Book a Demo or Start for Free. We also offer different Pricing starting at $49 a month that includes Accounting Software as well as Invoicing. You can choose to include extra add-ons such as Bookkeeping, Payroll and Tax. Take a look at mesha’s Pricing.

Can I change my subscription plan?

Yes! You can modify your subscription anytime. Contact your mesha specialist for assistance, and they'll guide you, ensuring a service tailored to your preferences.

What support options do I have with mesha?

You can contact mesha via chat (click on the icon in the bottom right of the page) or via email at info@mesha.club.

How do I know which package is right for my business?

After our in-depth free consultation, where we assess your business's unique needs and objectives, we'll suggest the best package. For a comprehensive understanding, our website offers a detailed package comparison.

All-in-one finance platform for accounting, bookkeeping, taxes and payroll for cannabis businesses

Try mesha

Why cannabis business owners love mesha

780+

Hours saved on accounting, bookkeeping and financial admin tasks

$15000/year

saved on bookkeeping and tax fees

100%

accurate financial insights

Financial powerhouse for your cannabis dispensary

Accounting

Bookkeeping

Taxes

Payroll

Invoicing

Legal

Expenses

Reporting

Intelligent accounting software for modern cannabis businesses

Income

Expenses

Transactions

Automated Income Tracking Made Effortless

Automated income tracking, reconciliation, and tax calculations

Integrations with payment gateways, banks, payroll, cards etc.

Supercharge your cannabis business growth and close your books 3X faster

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Expert bookkeeping tailored to your cannabis business needs

Operating a cannabis business comes with its own set of financial intricacies. Our specialized accounting, bookkeeping, and tax services are tailored to meet the unique requirements of your cannabis enterprise. Whether you're a small dispensary or a large cannabis producer, we comprehend the complexities of the cannabis industry and are equipped to handle your financial needs effectively.

Assured accuracy through quality checks and peer reviews

You are always in the loop with regular updates

Instant and direct access to dedicated cannabis industry specific bookkeeper

Catchup bookkeeping for with rapid turnaround time

Tax ready financial records for smooth and efficient filing

Trusted tax management and filing for cannabis dispensaries

Tax Management Software

Automated tax calculation for sales, payroll and federal
Reminders on taxes and compliance filing
Tax ready reports with P&L, expenses and balance sheets

Tax Prep and Filing

Instant access to top tax consultants for cannabis dispensaries
Proficient counsel on cannabis industry specific tax frameworks and tax-efficient strategies
Minimizing tax liabilities and maximizing deductions
Stay up to date on dynamic tax laws and regulations impacting the cannabis industry

Tax related FAQs for cannabis businesses

What are the federal tax implications for cannabis businesses?

Federal tax implications for cannabis businesses are significant. The main challenge arises from Internal Revenue Code Section 280E, which restricts businesses "trafficking in controlled substances" from deducting most business expenses. This results in cannabis businesses being unable to deduct common operating costs like marketing, rent, and wages. Consequently, the effective federal tax rate can be substantially higher for cannabis businesses compared to other industries.

How can cannabis businesses reduce their federal tax burden?

While cannabis businesses cannot fully escape the constraints of 280E, strategic cost allocation can help minimize the impact. Properly categorizing expenses as COGS or non-COGS can reduce federal tax liabilities. Additionally, some cannabis businesses explore setting up separate legal entities for non-cannabis-related activities to optimize their tax position.

What state taxes do cannabis businesses typically pay?

State taxes for cannabis businesses can vary, but they often include sales tax, excise tax, and sometimes income tax. Sales tax is applied to the retail sale of cannabis products, excise tax is levied on the production or wholesale sale, and income tax is calculated based on the company's earnings. Tax rates and specific requirements are determined by individual state regulations, which can differ considerably.

How can cannabis businesses ensure compliance with state tax regulations?

To ensure compliance, cannabis businesses should work with experienced tax professionals who are well-versed in state-specific cannabis tax regulations. Maintaining accurate records is crucial. Additionally, staying informed about evolving state tax laws and regulations is essential to avoid potential penalties and liabilities.

What are the common pitfalls in cannabis tax reporting?

Common pitfalls include errors in classifying expenses, such as incorrectly categorizing COGS and non-COGS expenses, which can result in incorrect tax liability calculations. Inadequate record-keeping can lead to incomplete or inaccurate tax returns. Furthermore, failing to address state tax obligations, such as excise tax or sales tax, can lead to compliance issues and penalties.

How can cannabis businesses prepare for an IRS audit?

To prepare for an IRS audit, cannabis businesses should maintain meticulous records of all financial transactions, expenses, and income. Following IRS guidelines for record-keeping and compliance is crucial. Engaging with a qualified tax professional who understands the unique challenges of the cannabis industry can ensure readiness and effective representation during an audit.