Reporting Taxes from selling medical marijuana Archives - Federal Direct Tax https://www.federaldirecttax.com/blog/tag/reporting-taxes-from-selling-medical-marijuana/ Helping Individuals & Businesses Enter The Tax Preparation Industry Tue, 15 Sep 2015 20:30:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Medical Marijuana Business Deduction Surprise! https://www.federaldirecttax.com/blog/medical-marijuana-business-deduction-surprise/ Fri, 24 Aug 2012 19:15:04 +0000 http://www.federaldirecttax.com/blog/?p=1030 Many businesses sell medical marijuana in the retail sector. Of course, having legalized marijuana on a state level, makes this business practice legitimate for state taxes but what about federal taxes? For federal tax purposes, since marijuana is still illegal, it prevents this business from being treated as a real business with deductible expenses. However, […]

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