Florida Cannabis Industry Conference - On Line Only (FCC)

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Friday, December 02, 2022
Webcast or Webinar, Online
8:00am - 4:30pm (opens at 8:00am) EST
8Credits
Accounting and Auditing and Technical Business

Registration is Closed

Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

Members
$219.00 Regular Price
Non-Members
$344.00 Regular Price
Course Type: CPE Conferences
Course Code: 22/FCC
Field of Study: Auditing, Accounting, Specialized Knowledge, Taxes

Overview:

Take Advantage of Early Bird Discounts for this VIRTUAL ONLY event!

Groups of 5-7 from the same organization receive 15% off!  8 or more 20%!

Call MSC at 800-342-3197

 

The Cannabis Industry is Booming in the State of Florida

Since Legislation passed in 2019, the whole industry changed.  Currently cannabis is one of the few industries that continues to grow, even during the pandemic. Florida has seen an increase in doctors, users and dispensary businesses. This growth has opened doors to investors and is proving to be one of the most attractive markets in the county. This conference will explore Florida's medical marijuana industry and what you, as a CPA or financial professional, need to know about this unique investment opportunity.


CPE Credit:

This virtual conference qualifies for up to 8 hours of CPE credit.  CPE credit is subject to approval by the Florida Department of Business and Professional Regulation. 


Conference Materials:
Conference reference materials are distributed to registrants electronically in advance of the program.  This fully searchable PDF includes speaker presentations and is intended for electronic use only.


Twitter

Follow the FICPA on twitter @ficpa and use #ficpaFCC to tweet about this conference.

 

Schedule:

Friday, December 2, 2022

Opening Remarks

Time: Friday 8:00am - 8:02am

Charles Felix, Chair, FICPA Florida Cannabis Conference Committee

Florida Medical Cannabis Law Overview of Physicians, Patients & MMTCs

Time: Friday 8:00am - 8:50am Credits: 1 TB

Charles Felix, CPA, CFF, Chair, FICPA Cannabis Conference

 

Presenters:

Break

Time: Friday 8:50AM - 9:00AM

Accounting for Cannabis

Time: Friday 9:00am - 9:50am Credits: 1 AA

Christopher Marrie, CPA, Director Cannabis Solutions Group, HBK Professionals and Consultants
Stacey D. Udell, CPA/ABV/CFF, CVA, Regional Director Cannabis Solutions Group, HBK Professionals and Consultants

While built on the same fundamentals, accounting for the cannabis industry is different because it is Federally illegal.  From a tax standpoint, clients have to contend with IRC Section 280E and the inability to deduct ordinary and necessary G&A expenses most businesses incur and deduct.  From an audit perspective, cash and inventory controls are important because banking services are limited, inventory has significant value and can be complex to audit, and clients have to comply with state regulations.   Cost accounting is important to maximize the deductibility of costs of sales as well as prepare credible financial statements with accurate profit margins and should not be overlooked.

Presenters:

Break

Time: Friday 9:50am - 10:00am

The Use of Crypto and Apps for Payment to Dispensaries

Time: Friday 10:00am - 10:50am Credits: 1 TB

Keith Johnson, CPA, Principal, Keith E. Johnson, CPA, PA

Details coming soon!

Presenters:

Break

Time: Friday 10:50am - 11:00am

280E Update

Time: Friday 11:00am - 11:50am Credits: 1 TB

Keith Johnson, CPA, Principal, Keith E. Johnson, CPA, PA

Details coming soon!

Presenters:

Lunch

Time: Friday 11:50AM - 12:50PM

Florida's 2022 Opening for New Licenses

Time: Friday 12:50pm - 1:40pm Credits: 1 TB

Michael Minardi, Attorney, Minardi Law

The application process for Twenty-two to twenty-six new Medical Marijuana licenses is finally almost here. Find out what you need to know to be prepared for whats to come and what is really needed to submit a competitive application

Presenters:

Break

Time: Friday 1:40pm - 1:50pm

Accounting Implications in Cannabis

Time: Friday 1:50pm - 2:40pm Credits: 1 AA

Mitzi Keating, Partner, Cannabis Advisory Services Practice Co-Leader - Citrin Cooperman

Understand the accounting and tax implications of the cannabis industry based upon business structure, 471 costing elements, and the intersection between accounting and tax which uniquely impacts this industry. Learn about cash flow challenges that bridge the gap between book and tax.

Presenters:

Break

Time: Friday 2:40pm - 2:50pm

Payroll Challenges in the Cannabis Industry

Time: Friday 2:50pm - 3:40pm Credits: 1 TB

Romeo Chicco, CPA, President, PayMaster Payroll Service

Romeo will cover the challenges of handling payroll for your employees and how to overcome them while staying compliant with federal and state laws.

This includes how a business can start and manage their payroll processing "in-house" as well as how to outsource to a payroll service.

No matter which method is used, how to classify employees for proper 280

Presenters:

Break

Time: Friday 3:40pm - 3:50pm

Psychedelic Industry Update

Time: Friday 3:50pm - 4:40pm Credits: 1 TB

Dustin Robinson, Manager Principal, Iter Investments

There is a long history of psychedelic use - recreationally, spiritually, and medicinally; and there was tremendous progress in research around psychedelics in the 1900's. Unfortunately, the 1970 Controlled Substance Act put a screeching halt on the research and, during the following decades, the field of psychedelic neuroscience and pharmacology struggled to break free from the political and cultural elements. Nonetheless, over the past couple decades, psychedelic research has re-emerged as a potential solution to various mental and behavioral health indications. Both MDMA and psilocybin have been designated by the FDA as breakthrough therapies; there are dozens of ongoing clinical trials involving psychedelic medicines; and there seems to be an enormous regulatory and cultural shift. This course will provide an update on legal, regulatory, and research around psychedelic medicines.

Presenters:

Objectives:

  • Learn industry perspectives from the national and state level
  • Explore basic accounting principles for medical marijuana
  • Examine crypto and app applications for payment to dispensaries
  • Receive an update on 280E
  • Learn about Florida opening for new licenses in 2022
  • Delve into preparing for an audit - inventory and financial statements
  • Understand the nuances for HR, banking and payroll
  • Explore Florida's preparation for marijuana recreational use
  • Presenters:

    • Keith Edward Johnson, CPA, PA

      Keith E. Johnson is Principal of Keith E. Johnson CPA PA in Jacksonville. Since 1997, he has provided accounting, auditing and tax services to individuals, businesses, and non-profits throughout Northeast Florida and elsewhere.A member of the FICPA since 1998, Mr. Johnson has served the profession in many capacities over the years, participating in many committees including Federal Tax, Management...

      Read more about Keith Edward Johnson here
    • Charles Felix, CFF,CGMA,CPA

      Charles Felix is the owner/publisher of the South Florida Hospital News and the Cannabis News. In more than 4 decades of achievement, Mr. Felix has demonstrated a wide-ranging expertise that includes business strategy, corporate finance management, labor relations and negotiations, management development and leadership, commercial real estate management, brand and image development, and government...

      Read more about Charles Felix here
    • Christopher T Marrie

      Christopher has extensive experience in auditing and business consulting. Chris provides a variety of accounting and assurance services to clients ranging from individuals to small to medium size businesses and not-for-profit organizations.EducationBS Degree in Accounting and Business AdministrationYoungstown State UniversityProfessional OrganizationsMember, American Institute of Certified Public...

      Read more about Christopher T Marrie here
    • Dustin Robinson

      Dustin Robinson is the Founding Partner of Mr. Cannabis Law – a full-service law firm exclusively focused on the hemp, marijuana, and psychedelic industries. Dustin is licensed in Florida as an Attorney, a Certified Public Accountant, and a Real Estate Agent. He focuses his practice on providing legal, accounting, financial, and business consultation to various businesses operating in the hemp...

      Read more about Dustin Robinson here
    • Michael Minardi, Esq.

      Michael C. Minardi is the Senior Partner at Minardi Law. For over 15 years, Michael has dedicated his practice to fighting for clients charged with cannabis crimes. His passion has driven him to learning and understanding medical cannabis laws in the State of Florida and throughout the country. Michael's practice represents clients in corporate cannabis consulting,application preparation...

      Read more about Michael Minardi here
    • Romeo Chicco, CPA

      Romeo Chicco, CPA is the proud founder and CEO of PayMaster and the core of the success of the company. He resides in South Florida and is one of the most hands on CEOs you will ever meet. He is strongly committed to both his family and business and takes both very seriously. His strong character and personal and professional ethics have set the tone for the day to day operations of the business...

      Read more about Romeo Chicco here
    • Mitzi Keating

      Mitzi Keating is a partner in the firm's Rhode Island office and Founder and Co-Leader of the Cannabis Advisory Services Practice. She has over 20 years of experience providing accounting and audit services, tax planning, business consulting, and forensic services.Mitzi is known across the country as a cannabis industry expert in matters of financial due diligence, accounting, tax, and other...

      Read more about Mitzi Keating here

    Presenters:

    Keith Edward Johnson, CPA, PA

    Keith E. Johnson is Principal of Keith E. Johnson CPA PA in Jacksonville. Since 1997, he has provided accounting, auditing and tax services to individuals, businesses, and non-profits throughout Northeast Florida and elsewhere.A member of the FICPA since 1998, Mr. Johnson has served the profession in many capacities over the years, participating in many committees including Federal Tax, Management...Read more about Keith Edward Johnson here

    Charles Felix, CFF,CGMA,CPA

    Charles Felix is the owner/publisher of the South Florida Hospital News and the Cannabis News. In more than 4 decades of achievement, Mr. Felix has demonstrated a wide-ranging expertise that includes business strategy, corporate finance management, labor relations and negotiations, management development and leadership, commercial real estate management, brand and image development, and government...Read more about Charles Felix here

    Christopher T Marrie

    Christopher has extensive experience in auditing and business consulting. Chris provides a variety of accounting and assurance services to clients ranging from individuals to small to medium size businesses and not-for-profit organizations.EducationBS Degree in Accounting and Business AdministrationYoungstown State UniversityProfessional OrganizationsMember, American Institute of Certified Public...Read more about Christopher T Marrie here

    Dustin Robinson

    Dustin Robinson is the Founding Partner of Mr. Cannabis Law – a full-service law firm exclusively focused on the hemp, marijuana, and psychedelic industries. Dustin is licensed in Florida as an Attorney, a Certified Public Accountant, and a Real Estate Agent. He focuses his practice on providing legal, accounting, financial, and business consultation to various businesses operating in the hemp...Read more about Dustin Robinson here

    Michael Minardi, Esq.

    Michael C. Minardi is the Senior Partner at Minardi Law. For over 15 years, Michael has dedicated his practice to fighting for clients charged with cannabis crimes. His passion has driven him to learning and understanding medical cannabis laws in the State of Florida and throughout the country. Michael's practice represents clients in corporate cannabis consulting,application preparation...Read more about Michael Minardi here

    Romeo Chicco, CPA

    Romeo Chicco, CPA is the proud founder and CEO of PayMaster and the core of the success of the company. He resides in South Florida and is one of the most hands on CEOs you will ever meet. He is strongly committed to both his family and business and takes both very seriously. His strong character and personal and professional ethics have set the tone for the day to day operations of the business...Read more about Romeo Chicco here

    Mitzi Keating

    Mitzi Keating is a partner in the firm's Rhode Island office and Founder and Co-Leader of the Cannabis Advisory Services Practice. She has over 20 years of experience providing accounting and audit services, tax planning, business consulting, and forensic services.Mitzi is known across the country as a cannabis industry expert in matters of financial due diligence, accounting, tax, and other...Read more about Mitzi Keating here

    Major Topics:

  • Cannabis industry overview
  • Basic accounting principles for marijuana
  • Crypto/app use for payment to dispensaries
  • 280E Update
  • Florida issuance of new licenses
  • Audit preparation - inventory and financial statements
  • Nuances of HR, banking and payroll
  • Potential recreational use in Florida
  • Major Topics:

  • Cannabis industry overview
  • Basic accounting principles for marijuana
  • Crypto/app use for payment to dispensaries
  • 280E Update
  • Florida issuance of new licenses
  • Audit preparation - inventory and financial statements
  • Nuances of HR, banking and payroll
  • Potential recreational use in Florida
  • Designed For:

    For CPAs and other finance professionals with an interest in Florida's cannabis industry.

    Prerequisties:

    None.  This is an introduction to the medical marijuana industry in Florida and what CPAs and other finance professional should know to remain current on this evolving market.

    CPE sponsors

    The Florida Institute of Certified Public Accountants (FICPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org