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Business

When Cannabis businesses face financial distress

When Cannabis businesses face financial distress

When Bankruptcy isn't an option After another rollercoaster of a year, I’m reflecting back on some of the insights my partners and I at Opus Consulting (previously Nucleus One) shared with the Cannabis Industry throughout the COVID-19 pandemic. One area that we’ve continued to...

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Inventory Costing 101

Inventory Costing 101

Financial reporting for inventory might seem like a straightforward matter – just add up all the costs to produce the inventory, right? Not quite – there’s more to it than meets the eye. Method The method of inventory costing chosen and the assumptions employed to allocate...

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Are PPP Loans Taxable Income in Maine?

Are PPP Loans Taxable Income in Maine?

This past week, Maine Governor Janet Mills released a plan to avoid taxing Paycheck Protection Program (PPP) loans, an option that was previously considered by the Mill’s administration.  Mill’s original budget called for taxing the forgivable loans to make up for a $100...

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