GAC Advisory LLC is a virtual advisory practice led by a licensed CPA with experience at KPMG, BlackRock, and — currently — building the accounting infrastructure of an institutional Private Credit platform. Real system-building experience, applied to cannabis.
IRC Section 280E is a 1982 federal tax provision written for drug traffickers. Today it applies to every state-licensed cannabis operator in the country.
The core issue: The IRS prohibits cannabis businesses from deducting ordinary business expenses — rent, payroll, insurance, software, professional fees — because the underlying trade is federally illegal. Your Cost of Goods Sold is the only deduction left standing.
No amount of year-end tax moves fixes 280E. It's a year-round financial infrastructure problem — and the solution starts with how your books are structured, not how they're filed.
Under IRC Section 471, a defensible set of COGS accounts — direct materials, direct labor, allocated production overhead — can meaningfully reduce your 280E burden. But only if the accounts are built and maintained correctly.
Every COGS allocation needs a written methodology. Without a 280E Cost Allocation Memo, your deductions are exposed in an IRS examination — regardless of whether they're economically accurate.
280E, IRC 471 full absorption costing, and seed-to-sale reconciliation are not taught in standard accounting programs. This is a specialized discipline — and it requires a specialist.
Every engagement is built around the federal tax reality cannabis businesses face. Transparent pricing. No surprises. Results that show up on your tax return.
Ideal for operators who need a specific problem solved — not an ongoing engagement.
A purpose-built QuickBooks Online chart of accounts designed around your specific license type and 280E position. Includes account mapping, class tracking configuration, and a 60-minute walkthrough.
A top-to-bottom review of your current accounting setup, COGS classification, and overhead allocation methodology — with a written findings report and recommended corrections.
Federal income tax return preparation for cannabis businesses — with full 280E analysis, book-to-tax reconciliation, and a written summary of your tax position.
A dedicated strategic session focused on your specific 280E exposure, entity structure, and opportunities to legally minimize your federal tax burden — with a written action plan.
Representation and documentation support for cannabis businesses under IRS examination. COGS defense, inventory substantiation, and correspondence management.
Comprehensive financial preparation for cannabis license applicants in New York and New Jersey. Built by a licensed CPA who understands exactly what regulators are looking for.
Not sure where to start? A free 15-minute call to discuss your situation, identify your biggest financial risks, and determine which service is the right fit.
The Cannabis License Application — Financial Advisory service covers the financial components of the application process only — pro forma projections, source of funds documentation, financial narratives, and accounting system readiness. It does not constitute legal advice and does not cover the legal components of the application. Applicants are strongly encouraged to engage qualified cannabis legal counsel to manage the legal aspects of their application. GAC Advisory is happy to coordinate with your attorney as part of a complete application team.
For cannabis operators who want ongoing accounting, compliance, and advisory support — not just a tax return once a year.
Available to retainer clients and project-based engagements alike.
I'm a licensed CPA. My career has run through KPMG's audit practice, BlackRock's regulatory and financial reporting team, and — right now — the accounting infrastructure of a fast-growing Private Credit platform managing CLO structures and a multi-entity management company at the institutional level. I don't just advise on accounting systems. I build them.
That distinction matters. At the institutional level, I've built charts of accounts from scratch, implemented ERP and treasury management systems, managed external accounting teams across time zones, and led the transition from quarterly to monthly financial reporting — all in real time, with real consequences. KPMG taught me to document everything and get it right under scrutiny. Institutional finance taught me that systems — not intentions — are what survive.
Cannabis accounting drew me in because I kept seeing the same gap: state-licensed operators running real businesses, advised by generalists who had never built a cannabis-specific COA, never touched a 280E cost allocation methodology, and never had to defend a COGS position in an IRS examination. The result was predictable — operators overpaying federal taxes year after year, carrying undocumented deductions, and structured around accounting systems that worked against them.
GAC Advisory LLC exists to close that gap. This is a virtual advisory practice built specifically for cannabis operators who need someone who can build the financial infrastructure their business actually requires — not just review it once a year at tax time. I also train the bookkeepers and accountants who serve the industry through the Cannabis Accounting Academy.
The best professional relationship feels like a knowledgeable friend in your corner — someone who tells you what your numbers mean, not just what they need to file them.
The Cannabis Accounting Academy trains practitioners who are entering the cannabis space and need a structured foundation in 280E, IRC 471, chart of accounts design, and cannabis-specific compliance. Built by a working CPA, for practitioners who want to get it right.
The Essentials Guide is available now. Track 1 & Track 2 are built and in final production — join the waitlist to be first in when enrollment opens.
A focused PDF guide covering the foundational concepts every cannabis accounting practitioner needs: §280E explained, chart of accounts structure, IRC §471 COGS methodology, and a self-assessment with answer key. Credited in full toward Track 1.
A 10-module practitioner course building the foundational competencies for cannabis accounting work — from §280E and IRC §471 full absorption costing through COA design, entity structures, banking, tax compliance, and a full end-to-end mock engagement.
A 10-module advanced course for CPAs and experienced practitioners: multi-state operations, advanced §280E strategy, CFO advisory and FP&A, audit defense, quality-of-earnings diligence, valuation, and acquisition readiness.
IRC Section 280E is not an abstract rule. It's a specific dollar amount showing up on your federal return every year. Here's how to see it clearly — and what your chart of accounts can do about it.
Read More →Most cannabis businesses are leaving real money in COGS because they don't understand full absorption costing. Direct labor and allocated production overhead belong in COGS — if you know how to document them.
Read More →Cannabis dispensaries, cultivators, and processors need a COA built around 280E — not a generic QuickBooks template. These five account categories are where the difference is made.
Read More →Every cannabis business has a different financial picture. A consultation with GAC Advisory starts with understanding yours — your entity structure, your accounting setup, your COGS methodology, and where you may be overpaying.