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Virtual Practice · Serving Clients Nationally

Cannabis accounting
that actually knows
what 280E costs you.

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.

Green Haven LLC · $2.4M Revenue · Real Numbers
$151,200
Additional federal taxes paid annually due to 280E
$252,000
Federal tax owed under 280E vs. $100,800 for a non-cannabis peer
100%
Of operating expenses disallowed — rent, payroll, software, everything
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The 280E Problem

You're taxed on revenue your business never kept.

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.

Green Haven LLC — Annual Revenue $2,400,000
280E Taxable Income $1,200,000
Federal Tax Owed (21%) $252,000
vs. Non-Cannabis Peer — Federal Tax $100,800
Annual Penalty for Being in Cannabis $151,200
📋

This is not a tax planning problem.

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.

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Your chart of accounts is your first line of defense.

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.

⚖️

Documentation survives audits. Intent does not.

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.

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Most general practice CPAs are not equipped for this.

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.

Let's Look at Your Numbers →
Services & Pricing

Institutional expertise.
Cannabis-specific precision.

Every engagement is built around the federal tax reality cannabis businesses face. Transparent pricing. No surprises. Results that show up on your tax return.

⚡ Limited — Founding Client Offer

Lock in your rate before public launch.

GAC Advisory is accepting its first cohort of cannabis clients at founding client rates — 20% below standard pricing, locked in for the life of the engagement. This offer closes once the first cohort is full. No code needed — mention this page when you book.

Book a Free Discovery Call

One-Time & Project-Based Services

Ideal for operators who need a specific problem solved — not an ongoing engagement.

📋

280E Compliance Review & COGS Methodology

A top-to-bottom review of your current accounting setup, COGS classification, and overhead allocation methodology — with a written findings report and recommended corrections.

$2,500 flat fee
Founding client rate: $2,000
  • Full review of existing COA and classification
  • COGS methodology analysis under IRC 471
  • Written findings and recommendations report
  • 280E Cost Allocation Memo (drafted for your entity)
  • 90-minute review call
📄

Federal Tax Return Preparation

Federal income tax return preparation for cannabis businesses — with full 280E analysis, book-to-tax reconciliation, and a written summary of your tax position.

$3,500 starting at
Founding client rate: $2,800 · Complexity may affect final fee
  • Federal return preparation (1120, 1120-S, or 1065)
  • Full 280E analysis and taxable income calculation
  • Book-to-tax reconciliation workpaper
  • Written tax position summary
  • E-filing and confirmation
🧠

Tax Planning & Strategy Session

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.

$750 per session
Founding client rate: $600 · 90-minute session
  • Pre-session intake questionnaire
  • 90-minute deep-dive strategy session
  • Written action plan delivered within 48 hours
  • 280E exposure analysis
  • Entity structure review and recommendations
🔍

IRS Audit Support & Defense

Representation and documentation support for cannabis businesses under IRS examination. COGS defense, inventory substantiation, and correspondence management.

$350 per hour
Founding client rate: $280/hr · Minimum 5-hour engagement
  • IRS correspondence review and response
  • COGS documentation and defense preparation
  • Inventory record substantiation
  • 280E position defense workpapers
  • Direct coordination with your tax attorney if engaged
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Cannabis License Application — Financial Advisory

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.

$3,500 starting at
Founding client rate: $2,800 · Fee applies regardless of approval outcome · Complexity determines final fee up to $6,500
  • 3-year monthly pro forma financial projections
  • Startup capital requirements and source of funds documentation
  • Business plan financial narrative and supporting schedules
  • Financial responsibility documentation package
  • Accounting system design and compliance readiness memo
  • 280E and federal tax compliance planning memo
  • Financial Q&A support throughout application review
  • Coordination with your legal counsel on financial components
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Discovery Consultation

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.

Free 15 minutes
No obligation · No pitch · Just clarity
  • Overview of your current accounting situation
  • Identification of your biggest 280E risks
  • Clear next-step recommendation
  • No sales pressure — ever
Important Note — Scope of Service

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.

Monthly Retainer Packages

For cannabis operators who want ongoing accounting, compliance, and advisory support — not just a tax return once a year.

Foundation
Essentials
Core accounting and compliance for single-location operators getting their financial infrastructure right.
$1,500 /month
Founding client rate: $1,200/mo · Billed monthly · 3-month minimum
What's included
  • Monthly bookkeeping and reconciliation
  • QBO maintenance and categorization
  • Monthly financial statements (P&L, Balance Sheet)
  • 280E COGS tracking and reconciliation
  • Quarterly estimated tax calculations
  • Annual federal tax return preparation (included)
  • Monthly check-in call (30 minutes)
  • Email support — response within 24 business hours
Get Started
Enterprise
CFO Advisory
Fractional CFO-level partnership for multi-location operators and MSOs who need strategic financial leadership.
$5,500 /month
Founding client rate: $4,400/mo · Billed monthly · 6-month minimum
Everything in Growth, plus
  • Fractional CFO advisory and financial leadership
  • Multi-entity and multi-license accounting
  • Intercompany transaction and MSA management
  • Cash flow forecasting and budgeting
  • Investor reporting and financial narrative
  • Capital raise support and financial modeling
  • Weekly advisory calls — unlimited email access
  • Multi-state tax coordination
  • IRS audit support (included up to 10 hours/year)
Let's Talk
Founding Client Rate: GAC Advisory is currently accepting its first client cohort at 20% below standard pricing — rates locked in for the life of the engagement. All pricing above reflects standard rates. Book a discovery call and mention the founding client offer to lock in your rate before the cohort is full.

Add-On Services

Available to retainer clients and project-based engagements alike.

🗺️
State Tax Add-On
State income tax return preparation and state-level 280E conformity analysis for one additional state.
$750 / state / year
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Financial Model Build
Custom 3-statement financial model for capital raises, lender presentations, or internal planning.
$2,500 flat
🤝
Investor / Lender Package
Prepared financial statements, financial narrative, and management discussion for investor or lender due diligence.
$1,500 flat
⚙️
QBO Cleanup
Remediation of historical QBO books — reclassification, reconciliation, and 280E correction for prior periods.
$250 / hour
📝
Payroll Setup & Review
Payroll system setup, COGS vs. operating expense classification of payroll costs, and compliance review.
$800 flat
🎓
Team Training Session
A live training session for your internal bookkeeping or accounting team on cannabis-specific accounting protocols.
$500 / session
Founder of GAC Advisory LLC, licensed CPA
KPMG Audit
BlackRock Reg. Reporting
Private Credit Infra. Finance
About the Practice

The person behind GAC Advisory.

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.

G
"Your friendly neighborhood cannabis CPA."
Cannabis Accounting Academy

For bookkeepers, EAs, and
accountants entering cannabis.

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.

$ 47

The Cannabis Accounting Essentials Guide

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.

  • §280E, §471 COGS & chart of accounts
  • The Cost of Getting It Wrong — cautionary cases
  • 15-question readiness scorecard
  • 30-question self-assessment + answer key
  • Instant download · credits toward Track 1
Get the Guide →
$ 1,997

Track 2 — Advanced CPA & Cannabis CFO

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.

  • 10 advanced modules + capstone
  • Multi-state operations & conformity
  • Advanced §280E strategy by operator
  • Cannabis CFO advisory & FP&A
  • Audit defense, QoE & valuation
  • Acquisition & exit readiness
Coming Soon
Cannabis Accounting Insights

From the practice floor.

View All Posts →
280E
Education

What 280E Actually Does to Your Tax Bill — In Plain Numbers

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 →
IRC 471
Education

IRC 471 Full Absorption Costing: The Cannabis Operator's Best Friend

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 →
COA
Operations

The 5 Chart of Accounts Entries Every Cannabis Business Must Get Right

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 →
Book a Consultation

Let's look at your numbers together.

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.

280E exposure review — where are you vulnerable?
COGS methodology assessment — are you capturing everything?
Chart of accounts review — is it built for cannabis?
Entity structure evaluation — is your structure tax-efficient?
No sales pitch — just an honest look at what's there.
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