Opening : Mon-Fri 08:00 – 17:00

Category: business planning

  • What does New Jersey’s marijuana vote mean to me?

    Seven out of ten New Jersey voters this month affirmed that we must decriminalize marijuana. The state’s Attorney General quickly announced that all marijuana prosecutions are paused while we wait for cannabis industry legislation. Now the state government is scrambling to find ways to generate massive amounts of tax revenue from the drug. Much regulation…

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  • Cannabis taxes will drive consumers back to unlicensed channels

    Common sense, anecdotal conversations and third party reports tell us that the unlicensed pot industry is growing and will always be larger than the licensed industry. One report in September 2019 estimated that the unlicensed industry in California is three times larger than the licensed industry. In other states the unlicensed industry approaches 100% of…

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  • What you should know about Worker’s Compensation Insurance

    Too many hardworking small business owners fall victim to false beliefs and rumors about the law and wind up risking everything. I have other helpful resources about workers compensation insurance to share once we know what applies in your specific situation. Reach me through the contact information at tonynovak.com.

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  • Big Marijuana Enters South Jersey

    This week Acreage Holdings, one of the world’s largest vertically integrated international marijuana companies, said it was buying “100% of the equity interests” in Compassionate Care Foundation in Egg Harbor in anticipation of the New Jersey’s intention to legalize cannabis for adult recreational use. Compassionate Care Foundation’s vertically integrated operations include licenses for cultivation, manufacturing…

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  • Looking past decriminalization

    This coming week our federal legislature will take up a bill to decriminalize cannabis. Most states, including ours, are attempting similar measures. But my form’s focus isn’t on these proceedings. In fact, we have little confidence in the near term outcome. That timeline really doesn’t matter in the big picture. What we know is that…

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  • Eight Inconvenient Truths About the Cannabis Industry (that nobody is talking about)

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  • Eight Inconvenient Truths About the Cannabis Industry (that nobody is talking about)

    CPAs in the cannabis industry are not being candid, honest and straightforward in talking about the cannabis industry. While I’m not suggesting that there are any easy corrections available for current positions, I do think that it makes sense for us to address the facts directly and honestly.1 A headline in a CPA newsletter today…

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  • The role of the CFO in the marijuana business

    The role of the small business Chief Financial Officer (CFO) is typically described in four distinct functions. I describe my own CFO role as filling five functions in the emerging marijuana industry. #1 Recordkeeping The CFO has primary responsibility to assemble, safeguard, manage and store the financial records of the company. This basic but necessary…

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  • Sara’s advice for entrepreneurs

    My business relationship with Sara Rosenberg, the Connector-in-Chief, is one of my greatest blessings. This excerpt is taken from one of her recent social media post as a sample of why I say this: “When you’re first starting out, and money is tight (or let’s be real, non-existent), you can do the following things for…

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  • All accountants are not created equal

    It’s all important, of course, and I’m grateful for these online communities that allow us to collaborate daily.

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