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    1. About High Life Accounting

    High Life Accounting is a national thought leader in cannabis accounting and taxation. Unlike general accounting firms, we focus exclusively on the cannabis industry. Our team understands the regulatory landscape, IRS enforcement priorities, and the realities of operating under and now transitioning out of IRC §280E. We help cannabis businesses reduce tax liability legally, stay compliant, and make informed financial decisions—without taking unnecessary risks.

    Cannabis businesses face challenges that traditional CPA firms are not equipped to handle. High Life Accounting specializes exclusively in cannabis accounting, tax, and advisory services. Our systems, processes, and strategies are built specifically for seed-to-sale operations, cash-heavy businesses, and heightened audit scrutiny.

    High Life Accounting began working with cannabis entrepreneurs in 2020. In addition, our affiliated service providers bring more than a decade of hands-on cannabis industry experience, representing thousands of hours supporting operators across cultivation, manufacturing, testing, distribution, and retail.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    2. Getting Started

    Starting a cannabis business requires careful planning, compliance readiness, and financial structure from day one. High Life Accounting supports new operators with entity structuring, accounting system setup, tax planning, compliance guidance, and ongoing financial oversight—helping you avoid costly mistakes early on.

    Yes. High Life Accounting serves cannabis businesses operating in all legal states, helping clients navigate state-specific regulations while maintaining federal tax compliance.

    We work with all cannabis business types, including:

    • Cultivators and growers
    • Manufacturers and processors
    • Testing laboratories
    • Distributors
    • Dispensaries and retailers
    • Delivery companies
    • Vertically integrated and multi-state operators

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    3. Services & Capabilities

    We provide end-to-end financial support for cannabis businesses, including:

    • Accounting and bookkeeping
    • Payroll support
    • Cannabis tax planning and preparation
    • IRC §280E advisory
    • CFO and Controller services
    • Startup support
    • Audit and assurance support
    • Transaction advisory
    • Exit and M&A preparation
    • Schedule III transition support

    Yes. Our CFO and Controller Services are designed for cannabis businesses that need executive-level financial leadership without the cost of full-time hires. We provide strategic guidance, forecasting, KPI tracking, and financial oversight tailored to your stage of growth.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    4. Tax & Compliance

    It depends on your license. State-licensed medical operations: no, they moved to Schedule III effective April 22, 2026, and §280E no longer applies. Adult-use/recreational operations: yes, they remain Schedule I and fully subject to §280E. Dual-license operators fall under both regimes and must allocate costs between medical and adult-use activity.

    No. Schedule III eases federal controls and removes §280E for qualifying medical operations, but it is not legalization. Medical operators face new federal considerations of their own, including DEA registration questions, and adult-use cannabis remains Schedule I.

    Not yet. The DOJ order encourages Treasury to consider retroactive relief, but no IRS guidance currently grants it. Filing amended returns on speculation creates audit risk without a guaranteed benefit. We're monitoring guidance closely and will advise clients the moment retroactive relief becomes available.

    An expedited DEA administrative hearing begins June 29, 2026 to consider whether marijuana more broadly, including recreational, should move to Schedule III. The outcome and timeline are uncertain. Adult-use operators should plan under current law while keeping their books positioned to capture relief immediately if the line moves.

    IRC §280E disallows standard business deductions for businesses trafficking in Schedule I or II controlled substances. Until April 2026, that meant nearly every cannabis business paid tax on significantly more than its real income.

    On April 23, 2026, the DOJ rescheduled state-licensed medical marijuana to Schedule III, so §280E no longer applies to qualifying medical operations, effective April 22, 2026. It still fully applies to recreational/adult-use cannabis, which remains Schedule I.

    Our team understands how to properly apply IRC §471, document costs, and structure operations to minimize tax exposure legally. We avoid aggressive strategies that do not hold up under IRS scrutiny, such as improper entity splitting or unsupported cost shifting. Our focus is audit-ready, defensible compliance.

    Since the April 2026 rescheduling order, that same discipline applies to capturing Schedule III relief: we document qualification, apply the effective date correctly, and avoid positions that won't survive IRS review.

    Yes. High Life Accounting helps clients prepare for audits by maintaining accurate records, defensible accounting practices, and compliant documentation. We also assist during audits by providing support and guidance aligned with IRS expectations.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    5. Growth, Strategy & Peace of Mind

    We help improve cash flow by optimizing accounting processes, improving visibility into financial performance, identifying inefficiencies, and implementing tax planning strategies that reduce unnecessary tax burdens—all while maintaining compliance.

    Absolutely. We believe financials should inform decisions, not just satisfy reporting requirements. Our team works closely with business owners to explain results, identify trends, and use data to guide strategy and growth.

    Clients often tell us they feel more confident, informed, and supported. With High Life Accounting on your executive team, you can focus on your products, brand, and growth—while we handle accounting, tax, and compliance complexity behind the scenes.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    6. Next Steps

    Getting started begins with a conversation. We’ll learn about your business, assess your needs, and recommend the right mix of services to support your goals.

    Contact us to see how High Life Accounting can support your cannabis business.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    You asked any questions about your company

    To deal with our busy world we often compartmentalize, obstructing access to our Best Selves. For Optimal Performance, you need to integrate and align every part of you, including Values, Dreams, and Abilities. In the midst of busyness it’s hard to pause and see where we’re not optimizing.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

    Coaching can be indicative of increased employee engagement; 65% of employees from companies with strong coaching cultures rated themselves as highly engaged. Coaching also has an impact on financial performance, with 60% of respondents from organizations with strong coaching cultures reporting their 2013 revenue to be above average, compared to their peer group.

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    “Uphome has saved me a ton of time finding great tenants and managing lease signing. Its sophisticated features help me manage my properties seamlessly and digitally! Park gate sell the west hard for the. Abode stuff noisy manor far”

    Enring Haaland

    Landlord

    “Uphome has saved me a ton of time finding great tenants and managing lease signing. Its sophisticated features help me manage my properties seamlessly and digitally! Park gate sell the west hard for the. Abode stuff noisy manor far”

    Enring Haaland

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