Strategies for Financial Success in the Cannabis Industry with Felicia Hunter (Euphoric Accounting)

On this engaging episode of the Kaya Cast Podcast, we talk with Felicia Hunter from Euphoric Accounting. Felicia shares critical financial insights on thriving within the cannabis industry. She underlines the importance of staying vigilant with your financials and engaging in constant dialogue with your CFO. Felicia explains how to better comprehend techniques for reducing taxes, cutting costs, curbing expenses, and potential growth avenues. She also provides a fascinating history of the 280e tax code and its prevalent impact on the cannabis industry. Felicia highlights the significance of correctly configuring your POS systems, the role of having an accurate inventory, and the importance of an all-inclusive overview of your taxes.Indispensable advice is given on managing excise tax confusion, and the hopes and potential changes in tax regulations going forward. Felicia also discusses the evolving role of technology in ensuring compliance and tax management within the industry. This episode is a rich reservoir of information for current or aspiring cannabis business owners. Tune in for an enlightening conversation filled with essential guidance.
 
Felicia Hunter, CPA is an experienced accounting and finance professional with over 13 years in corporate manufacturing/asset management. She has extensive experience in all controllership functions including transactional accounting, GAAP accounting, cost accounting, entire month end-close, and reporting and analysis. In addition to her controllership experience, she has worked in process design and improvements, system implementation and automations, and management of financial controls and internal controls. She uses this experience when working with growing companies to build scalable processes and derive value from the accounting and reporting function. Felicia decided to build an outsourced CFO and full-service accounting firm that focuses on the cannabis and psychedelics industry, because she wanted to help businesses thrive and understand their numbers in this highly regulated space. Her belief is that in order to properly and effectively provide results in an industry, the service provider has to be passionate and enjoy the industry they are servicing. Felicia has obtained specialized cannabis accounting training from National Association of Cannabis Accounting and Tax Professional and DopeCFO. 
 
Find out more about Euphoric Accounting  at: www.euphoricaccounting.com www.linkedin.com/in/feliciahunter www.facebook.com/Euphoric.Accounting www.instagram.com/euphoric.accounting www.linkedin.com/company/euphoric-accounting