Jacob Sannon

About Jacob Sannon

Do you currently maintain a disciplined finance infrastructure that consist of processes, properly working systems, financial reporting, and actionable, timely financial information? Our studies have shown that between 80-90% of bookkeepers and CPAs do not know how to accurately account for Cost of Good Sold/inventory allocations. Incorrectly recording or failing to use a reasonable basis of GAAP (Generally Accepted Accounting Principles) accounting can lead to excessive fine and penalties by the IRS, and revocation of license. Unfortunately, being in this industry provides many unfavorable outcomes when it comes to taxes, regulations, loans, bankruptcy, insurance, and finding banking. I believe cannabis CEOs deserve to have the same opportunities that are available to most business owners. After having multiple bank accounts shut down, I personally can relate it\'s a struggle at times. Which is why I am passionate about helping relieve and protect cannabis CEO\'s through providing world class service. I\'ve learned that the stakes are too high, don\'t risk not doing this right. My mission is to prevent the cannabis industry from facing outrageous fines and penalties while maximizing profitability. We’re dedicated to providing creative solutions to ensure both compliance and profitability. With our focus on the future we’re committed to provided information and strategies to support your cannabis business, minimize risk, and create opportunity. With our world class processes, systems, and tools we help cannabis businesses thrive. Here you\'ll discover the advantages of outsourced cannabis grade expertise: Record Keeping -> Financial statements, business combinations, daily entries. Tax Planning -> Minimizing your §280E tax through proper GAAP accrual/cost accounting IRS Compliance -> Maintain proper accounting records through our virtual file room CFO Services -> Maximize profits, Monthly tie-outs, implementation of financial systems, and more Wealth Management -> Protection of assets, business structuring, exit planning More Services -> Payroll, Tax preparation, Strategic planning, Compliance, Sales and use tax We have a keen understanding of cannabis trends and challenges which permits us to mitigate risk and respond to opportunities for our clients that might otherwise go untapped.

Experience

1. Financial Business Consultant

   World Class Cfo

   Jan 2019 — Present · Phoenix, AZ, US

   We help cannabis businesses gain a competitive advantage by exposing financial opportunities that most cannabis business fail to take advantage of.We work with cannabis dispensaries, cultivators, distributors, processors, and manufacturers.We deliver world class service in the Cannabis niche designed to maximize business value, save expenses, and protect assets As a virtual cannabis accounting company we service clients in all 33 legal cannabis states.With an increase in IRS audits and compliance it is crucial to be doing proper GAAP accounting for tax purposes. To learn more BOOK A CALL below

Education

• University of Idaho

  Master of Accountancy, accountancy

  2017 — 2018

• University of Idaho

  Bachelor's degree, Accounting

  2013 — 2017