One of the best decisions I’ve made for Illinois News Joint was to find a cannabis-friendly accounting firm, Vineyard Accounting, for my yearly taxes. It’s not that my taxes are super complicated, because they’re not. Instead, it’s the comfort and confidence knowing that not only does my accountant understand the industry’s tax laws and governmental regulations but also actively supports people and businesses in industry.

Vineyard Accounting, based in the Champaign-Urbana area, is a cannabis-specific accounting firm designed to work with both plant-touching and ancillary businesses. Owners, Boyd and Heather LaFoon, have for the past two years provided Illinois News Joint with full State and Federal tax services, including filing them. Vineyard Accounting works with small businesses, such as ILNJ, but mainly focuses on large businesses dealing the challenges and pain points that exist in the cannabis industry.

Though Vineyard Accounting works with clients across the Unites States, the firm specializes in businesses located in Illinois. Vineyard Accounting can help Cannabis business owners work within the parameters of the IRS’s cannabis regulations and help maximize their return on investment.

“We live and work here and know what cannabis licensees in this state have been going through, especially the social equity licensees and independent craft growers,” Boyd said. “After years of licenses being held up in the courts, many cannabis business owners can’t get funding to pay for their build-outs or can’t find a bank that will let them open an account.”

Vineyard Accounting can be reached by phone at 708-405-9532 or email info@vineyardaccounting.net or Instagram at @vineyard_accounting.

“Cannabis owners have a hard enough time finding banks and payroll companies and insurance,” said Boyd. “They shouldn’t have to struggle to find an accountant. But walk into any big-four accounting firm, and there will not be a cannabis accounting division there. The Federal Schedule 1 designation scares them away.”

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