Cannabis Industry Taxes – Marshall Varano, CohnReznick

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One thing we can’t avoid in our personal lives and as business owners is taxes. The cannabis industry is held to 280E which makes taxes very pricey and a potential detriment to one’s business success. It’s important to have a licensed CPA on your side to help you navigate the waters of taxes in the cannabis industry and to ensure you are staying up to date on rules and regulations and not costing your company unnecessary fines.

Tune in to Episode 85 featuring Marshall Varano, CPA and Tax Partner at CohnReznick in California to learn more about how taxes affect your cannabis business. Marshall discusses in detail the implications of 280E and provides insight into the future of cannabis legalization. More information about CohnReznick’s cannabis practice is located here.

Season 8 brought to you by Verra Health.

Marshall Varano

Marshall Varano, CPA, is a tax partner at CohnReznick. Marshall joined the Firm, as a result of the merger with a local San Diego accounting firm where he was tax partner. Prior to this, he was a tax manager with a national firm.

Cannabis industry taxes Marshall VaranoMarshall has 35 years of experience in public accounting with an expertise in business tax consulting and real estate
transactions. His practice consists of manufacturing, real estate developers, high-tech/biotech corporations, and foreign
corporations. He also leads the San Diego office’s Cannabis practice and consulting practice for high net worth individuals. He is technically adept in tax planning, retirement planning, and qualified retirement plans.

Marshall leads the Firm’s Hospitality Practice in the San Diego Office, providing tax and consulting services designed to improve profitability of restaurant clients. He has written articles appearing in The San Diego Business Journal and The San Diego Daily Transcript. He was also featured in the October 2015 issue of Franchise Times “Tax Tips Can Save Headaches & Money”, and “Employee or Independent Contractor Status” in the DC Restaurant Association Newsletter, as well as the May 2018 issue of Modern Restaurant Management “Tax Cuts and Jobs Act: Evaluate the Impact for Your Restaurant Business”. His 2016 “Tax Planning Tips for Restaurants” and 2017 “7 for 17 Key Business Issues Impacting the Restaurant Industry” articles have also been featured in Hospitality publications.

Marshall has also spoken to the California Restaurant Association and the San Diego Food &; Beverage Association on the impact of “Obama Care” to the restaurant industry. He was the featured speaker at the 2015 California Diversity Council Multicultural Roundtable, 2015 AACSSD Annual Hotel Business Summit, panel member at the 2016 San Diego CRA chapter “Minimum Wage” roundtable and 2018 Legislative Update. In 2019 he was a panel member at the Connect “Preparing Your Company for Sale” event and the Carlsbad Cannabiz Education Symposium.

Marshall is actively involved in firm sponsored education and client seminars. He has lectured on topics such as controlled
foreign corporations, corporate reorganizations, incentive stock options plans, research and development credits, and 1031 like-kind exchanges. He is a member of the Board of Trustees and is Treasurer for the Crohn’s & Colitis Foundation of America, Greater San Diego and Desert Area Chapter, Board member of the Scripps Health Gift Planning Advisory Board and the YMCA Estate Planning Council and a volunteer coach for the Standley Middle School after school running program. Board of Director Member of the Food & Beverage Association of San Diego.