Wording for LLC .....vote

[justugh]

hey

this is voting i think i have the wording .......i came up with 2 things

1 specialized herbal cultivation and processing
2 cultivation and processing of medicinal plants


it for a cannabis farm and i want to do processing for oil and possible make a dry area to rent out for ppl to use/sell trimming skills ....but i learned i can not just bluntly say that

if u guys can think of something better please post .....i got to have this filed and wait a day before i can blow 2 grand on moving cost (tax write off)

before u say i got to list the processing as that is going to be the work i have for the next 5 months ......my partner is getting the paperwork and listing me (she has 2 years in the medical the paperwork for her will be a breeze) i can get mine next year for processing under my llc

 

[ovo]

You can't actually write off cannabis expenses, everyone knows this.

I'd keep the description as vague as possible. Words like 'cultivation' and 'processing' may imply more than you want anyone to know. Try not to incriminate yourself before you even get started.

 

[kingzt]

Only things you can write off is the, "costs of goods sold." It's better to be a grower or a growing facility because there's more of cost in creating the product. You have to follow the 280e tax code. Under your llc, I would still keep it vague like a alternative medical practitioner or agricultural consultant. The other issue the banking system and finding one that will take your money. When you deposits in cash make sure they're consistent to what you believe other growers are doing revenue wise. If you are in CO these rules are probably easier to follow since CPA's, bankers, and lawyers are familiar with the industry

 

[justugh]

You can't actually write off cannabis expenses, everyone knows this.

I'd keep the description as vague as possible. Words like 'cultivation' and 'processing' may imply more than you want anyone to know. Try not to incriminate yourself before you even get started.

that is where u are wrong
LLC in a legal state ........it is like any other biz to the state ..starting up a biz u can write off 5000 bucks off the top and up to 50k on the right kind of gear
the cost of CPA is deductible the cost of any lawyer fees can come off


right now it is in a grey area .....with state and federal but the state calls it a legal biz .....so i get the write offs

hell a LLC can write off bad debts (u loaned money to someone but not yet been repaid) hell credit card interest is tax deductible

really look it up i triple checked all this info with tons of ppl the only thing they tell me to do is keep the bank account under 20k for the llc not 50k like i thought

 

[kingzt]

that is where u are wrong
LLC in a legal state ........it is like any other biz to the state ..starting up a biz u can write off 5000 bucks off the top and up to 50k on the right kind of gear
the cost of CPA is deductible the cost of any lawyer fees can come off


right now it is in a grey area .....with state and federal but the state calls it a legal biz .....so i get the write offs

hell a LLC can write off bad debts (u loaned money to someone but not yet been repaid) hell credit card interest is tax deductible

really look it up i triple checked all this info with tons of ppl the only thing they tell me to do is keep the bank account under 20k for the llc not 50k like i thought

Why is it that you keep your account under 20k and not 50? This is your business's account too I assume you're referring.

 

[Afgan King]

hey

this is voting i think i have the wording .......i came up with 2 things

1 specialized herbal cultivation and processing
2 cultivation and processing of medicinal plants


it for a cannabis farm and i want to do processing for oil and possible make a dry area to rent out for ppl to use/sell trimming skills ....but i learned i can not just bluntly say that

if u guys can think of something better please post .....i got to have this filed and wait a day before i can blow 2 grand on moving cost (tax write off)

before u say i got to list the processing as that is going to be the work i have for the next 5 months ......my partner is getting the paperwork and listing me (she has 2 years in the medical the paperwork for her will be a breeze) i can get mine next year for processing under my llc

Agricultural consultant is what you wanna use that partains to anything growing period

 

[justugh]

Why is it that you keep your account under 20k and not 50? This is your business's account too I assume you're referring.

from what i understand
BOA ......dirty has hell anyone can open a account here including illegals

50k ........as the money is from weed sales if they can prove it (simple thing ) the account can be frozen like that did in CO (lawsuit in federal lvl now)
so would u rather have a 20k hit or a 50 k hit .....20k on the books looks fine for anything u need to do then cash for the actual deal


i wanted the 50k on the books so it would make the loan on the land i plan to buy later a lower APR (they do not know i plan to pay for it month 1 ) ....ideally i like to get 5 acres total to make a system up to do everything on site ( i will get my lab certs as the last thing make money on testing for other farms )

 

[justugh]

Agricultural consultant is what you wanna use that partains to anything growing period

knuckle bump of respect

u have earned yourself some thing ........name your poison and where it goes too (gift card wine shine beer bud keef oil )
(ops this is not a sale or him asking for anything .....it is a thank u for the wording )

i had a really good day the lawyer is selling me the car no troubles and for 2800 (engine only has 60k on super super deal) .......i am happy about this and want to keep the good karma going for the next 72 hours

i loev u in the none gay way random person .....thank u

 

[Afgan King]

knuckle bump of respect

u have earned yourself some thing ........name your poison and where it goes too (gift card wine shine beer bud keef oil )
(ops this is not a sale or him asking for anything .....it is a thank u for the wording )

i had a really good day the lawyer is selling me the car no troubles and for 2800 (engine only has 60k on super super deal) .......i am happy about this and want to keep the good karma going for the next 72 hours

i loev u in the none gay way random person .....thank u

Lmao I have one as well being an agricultural consultant allows you to do anything partaining to any grow. It's not your fault if your clients want to grow legal weed or need help cropping and so on. Nothing will be put down just put a brief description and like u said watch your money. And way to grow gift card good with me there everyday lol but ya agricultural consultant 100% proven golden have a buddy who has trim company and genetics company under agricultural consultant business just is a genetics consultant as it pertains to agriculture lol I have both as well as well as if you sell seeds can look up seed labeler license to sell seeds legally anytype of seeds in legal states they don't care cannabis seeds don't contain any testable THC put souvenir on the packs boom done lol legally selling cannabis seeds taxable and all lmao

 

[kingzt]

Lmao I have one as well being an agricultural consultant allows you to do anything partaining to any grow. It's not your fault if your clients want to grow legal weed or need help cropping and so on. Nothing will be put down just put a brief description and like u said watch your money. And way to grow gift card good with me there everyday lol but ya agricultural consultant 100% proven golden have a buddy who has trim company and genetics company under agricultural consultant business just is a genetics consultant as it pertains to agriculture lol I have both as well as well as if you sell seeds can look up seed labeler license to sell seeds legally anytype of seeds in legal states they don't care cannabis seeds don't contain any testable THC put souvenir on the packs boom done lol legally selling cannabis seeds taxable and all lmao

So what about your write offs? Do you follow the 280e tax code where you deduct all cost of goods sold or do you write off indirect costs as well? @justugh Also I was recommended by a small business that regardless of your business, if you have revenue exceeding $100k you're more likely to be audited. So good looking on the 20k theory

 

[kingzt]

from what i understand
BOA ......dirty has hell anyone can open a account here including illegals

50k ........as the money is from weed sales if they can prove it (simple thing ) the account can be frozen like that did in CO (lawsuit in federal lvl now)
so would u rather have a 20k hit or a 50 k hit .....20k on the books looks fine for anything u need to do then cash for the actual deal


i wanted the 50k on the books so it would make the loan on the land i plan to buy later a lower APR (they do not know i plan to pay for it month 1 ) ....ideally i like to get 5 acres total to make a system up to do everything on site ( i will get my lab certs as the last thing make money on testing for other farms )

When you say, " cash for the actual deal" Are you talking about using cash for the expenses that come along.

 

[justugh]

When you say, " cash for the actual deal" Are you talking about using cash for the expenses that come along.

yes and no
my dad taught me this with cars i am just appling to everything
if u offer a cash deal to someone that might take a lower price as it is cash but more offen they ask for more money becuase they were expecting to make more money on the back end of the deal with u paying payments to them (so much goes to cost rest goes to cover the note)

so with the land deal i want to do later i go to the bank and get the loan under a set rate i use that money pay off the land owner so it is in my name .....but instead of making small payments to the ppl i pay them off on the first payment

 

[|3E@Losetgreenz]

WRONG WRONG....WRONG!...
The most professional buisness title would be....."Trap-lord Chronic plug factory."

 

[ANC]

Many term loans will have penalty clauses for early payment. Just make sure it is not one of those, or if it is, that the penalty doesn't make it more expensive than you thought.

Paying the bank back in cash has its own issues. They are obligated to check the source for large amounts.

 

[haight]

Lot of guardhouse lawyers posting here