Payroll and Cannabis Companies- The Importance of Tracking Payroll Costs to Maximize Income Tax Deductions of Salaries and Wages

February 1, 2019 | 11:10 am | Room 2 | Business / Legal

One of the most significant costs of operating a Cannabis company is the salaries and wages paid to employees and owners.  Bryan McDonald, Certified Public Accountant of CPAMD, will explain and navigate the financial benefits and techniques of maximizing the deductibility of these wages.  Included in this informative presentation will be the process of setting up an employee leasing company, the importance of tracking employees time and duties and of course, the compliance with  federal and state payroll tax rules.

California Headshot

Bryan McDonald; CPA, CPAMD, LTD.

Client Development Partner – CPAMD, Ltd.
Graduated Loyola University, Chicago, 1983

Strategic, multidisciplinary CPA with an eye for innovation and financial creativity; considered an expert in the taxation of cannabis.  Bryan has worked with a varied group of dispensaries and cultivators and his skill set is vast.
One of Bryan’s truths:  “Keeping money in the hands of business and individual through tax saving strategies.  It is the legal right of all US citizens to minimize their tax liabilities.”
Bryan’s life goals are such that family always come first.  5 sons, 3 of which are in the military, he has managed to balance his career and family.  He has completed 4 Ironman Wisconsin triathlons and enjoys flying small aircraft.
In addition to running a CPA firm for the past 30 years, he has also taught public speaking at Dale Carnegie and is an involved member of his church.  Bryan is able to combine his faith with his passion for music by playing his electric guitar for the congregation.
Public speaking experience includes the Wisconsin Institute of Certified Public Accountants and various cannabis conferences.