TaxGuyBill
Level 15

Maybe I'm overly cautious, but I don't think I've ever seen CPE classes mention this:

Cannabis is still illegal at the Federal level.  If the business owner is comfortable breaking Federal laws, what makes you think they will be honest and forthcoming with complying with tax laws?

Personally, I would want a much higher degree of documentation of income and expenses for this type of business than I ask for with other businesses.