Welcome to our Cannabis Accounting Blog!

We’re committed to bringing you a regular dose of accounting goodness, geared towards your industry.  But before you dive in, here is a little of the who, what, where, why and when regarding this blog.

  • Who we are – at DiSanto Priest we recognize the need for specialization in the accounting industry. Cannabis is one of seven industries that we have identified as focus areas for our firm. Our other industry focuses include Commercial Fishing, Manufacturing, Distribution and Retail, Precious Metals, Professional Services, Real Estate and Construction, and Technology. As with many of our clients, your Cannabis-driven business may cross over into our other verticals so be sure to sign up for those industry updates as well by viewing their respective pages.
  • What we’re doing – our goal with this blog is to bring you timely accounting information that is relevant to your business.
  • Where – whether you’re at your desk or on the road, our online content is downloadable as well as mobile-enabled to allow you access wherever you need it.
  • Why we’re doing it – we’re in the information age. You need information and you need it now. As your trusted advisor we’re in the best position to provide you with the latest and greatest of the accounting industry. We want to do it in a way that allows you to gain an understanding of a topic and empowers you to take action.
  • When – we update our blog monthly. Stay tuned!
DiSanto, Priest & Co. Partner Art Lambi Interviewed by GoLocalProv
Welcome to our Cannabis Accounting Blog! We’re committed to bringing you a regular dose of accounting goodness, geared towards your ...
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Written Information Security Plan Required as Part of New Massachusetts Data Breach Notification Law
On January 10, 2019, Massachusetts Governor Charlie Baker approved new legislation regarding data breach notification that will significantly impact businesses that own or license personal information about Massachusetts residents.
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DiSanto, Priest & Co. Named 4th Fastest Growing Firm in US by Accounting Today
DiSanto, Priest & Co., a premier accounting firm serving a wide range of businesses, business owners, and high net worth clients today announced it was ranked No. 4 on Accounting Today’s Fastest Growing Firms in the U.S. 2019, a ranking of the 20 fastest growing national accounting firms. DiSanto, Priest & Co. grew 32.74% in 2018 to an estimated $15 million in revenue.
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Tips for More Secure Password Management
Have you noticed that we need passwords for just about everything these days?
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Safe Harbor Regulations under IRC Section 199A
The long-awaited final IRC Section 199A regulations were issued by the IRS last month.
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Step-up in Basis in Real Estate
A step-up in basis is the readjustment of the value of an appreciated asset, such as real estate, for income tax purposes upon inheritance.
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Blockchain & Cryptocurrency Part 3 — Tax Implications for Investors and Miners
The ever-changing market of cryptocurrencies presents an array of new tax challenges and the IRS has been urgently training its examiners to handle them.
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1031 Exchange – Is It Right for You?
Do you own a piece of real estate whose fair market value is greater than its basis?  Are you contemplating selling and buying another? A 1031 Exchange may be for you! If you are contemplating a like-kind exchange, at Disanto, Priest & Co. we would be more than happy to assist you.
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Blockchain & Cryptocurrency Part 2 - The Coin Behind the Technology
Cryptocurrency is an electronic currency that is gaining a lot of attention in the news recently. Learn more about the e-currency, how you can use it and what you need to be careful of when utilizing it.
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Blockchain & Cryptocurrency Part 1 – The New Technology Quickly Changing our World
Blockchain isn't merely about recordkeeping. This process that everyone is talking about holds its power in how records are created and kept. Here at DiSanto Priest & Co. we are here to help you navigate the newest advancements in technology.
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Consider QuickBooks Bank Feeds to Save Time
Setting up a data interface between your QuickBooks file and your bank can dramatically reduce the time burden created by the manual data entry of transactional activity.
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Physical Presence No Longer Required for Sales Tax
In a 5 - 4 decision, the Supreme Court ruled in favor of state authority to require online retailers to collect sales taxes without regard to physical presence in the state. Although states stand to gain much-needed tax revenues, there may be consequences for online retailers that do business in multiple states.
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FBA: Creating Nexus for State & Local Tax Purposes
Many businesses are selling their products through the Amazon FBA program (Fulfillment by Amazon), expanding their businesses' nexus footprint for state and local taxes.
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Marijuana: A Growing Market
One of the fastest growing industries in the United States, and around the world, is the cannabis industry.  It is estimated that by 2025, the worldwide market could reach over $50 billion dollars.
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How to Assess Your Company's Financial Health
We receive regular checkups to monitor, maintain, and improve our health. But did you know that you should do the same for your company?
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The Importance of Strategic Planning
Is your company future ready? We are living in a time of rapid change around the world. Consider a Strategic Planning Engagement to ensure success.
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