The Health and Wellness sector presents its own unique challenges.
From heavy regulation at multiple levels, to specialized tax codes at local, state, and federal levels. Because of tax codes like §280E, certain operators need to have meticulous, detailed, thoughtful, and supportable books and records, including cash transactions. In no other industry is this as imperative as the Health and Wellness industry. At Hall & Company, we are constantly watching the ever-changing tax case laws to ensure that our clients are well informed and able to focus on other issues within their business.
These types of businesses require a professional team with specialized, industry knowledge and proven experience in many specific areas. At Hall & Company, we work with companies just like yours to put innovative solutions in place to impact your bottom line. We collaborate with business owners and CEOs to analyze their companies and make appropriate recommendations for their operations. We understand these unique industries and over the years we have demonstrated our ability to reach a position of strength.
Tax Compliance Services
- §280E analysis and assistance
- Multistate Operating Structuring
- International tax – cross-border transactions
- State and Federal tax filings
- 471C Analysis Respective
- Audits, Reviews and Compilations of Financial Statements
- Assistance with going public
- Employee Benefit audits (ask about our 401k partners)
- Inventory costing
- Budgeting and cash flow planning
- Cost controls, budgeting and cash flow analysis
- Cash control implementation
- Inventory control systems
- Gross profit maximization/ analyzing pricing structures
- Profit Enhancement Analysis (determining actual profits by product)
- Buy-sell agreement reviews
- Succession planning and exit strategy development
- Facilitation with banks and other financial institutions
- Mergers and acquisitions facilitation
- Business valuation and litigation support
- Due diligence research and review
- Compensation, benefits and incentive planning
- Evaluation and implementation of internal control systems
- Strategic Planning and business process solutions
Simon has been in public accounting since 2001. He provides assurance and consulting services to a variety of public and private clients and business owners in the cannabis, apparel, and manufacturing and distribution industries. Simon has worked on numerous ASC 805 business combination transactions ranging from small transactions to transactions in excess of $500 million.
Professional & Business Affiliations
Member of the National Cannabis Industry Association (NCIA)
Member of the California Cannabis Industry Association (CCIA)
Member of the Coachella Valley Cannabis Alliance Network (CVCAN)
Member of the Surf Industry Manufacturing Association (SIMA)
Member of the American Institute of Certified Public Accountants (AICPA)
Education & Professional Designations
Bachelor of Science in Accounting - California State University, Long Beach
Certified Public Accountant License (CPA)
Simon is a well-known member of the cannabis community and is dedicated to bringing professionalism to an industry that is severely underserved by the professional community. As a member of numerous trade organizations and professional cannabis networking groups, he is constantly well informed of the issues and solutions facing the cannabis industry. In his efforts to educate the community, as well as inform the non-cannabis professionals, he speaks on numerous panels and attends events regularly.
Respective Presentations and Panels
- Panelist on Cannabis Business 101 at NCIA Cannabis Business Summit and Expo
- Presenter on the first ever Orange County Association for Corporate Growth Cannabis Panel
- Founding Member of The Cannabis Society Virtual Conference
- Presenter on the State of Cannabis Banking Webinar
- Faculty member for the Cannabis Business Law in CA seminar put on by the National Business Institute
- Guest on MyJane MyStory, Cutting Edge of Cannabis and other podcasts
MyJane MyStory: Episode 30 with Simon Dufour - How Taxes Will Affect the Cannabis Industry in 2020
CannabisRadio.com: Cutting Edge of Cannabis with Simon Dufour - Specialized Financial Needs in Cannabis
Wrazel: Episode 23 with Jeff Elkins - Connect in Cannabis
Cannabis Business Times: Coronavirus Puts Pressure on the Cannabis Supply Chain
New York Daily Weed Report: Legal Weed in Mexico, What That Means for the U.S.
If you are a cultivator, distributor, processor, dispensary, or ancillary company and interested in improving your financial reporting, tax or business management practices, all of us at Hall & Company are ready to provide reliable support. We understand your environment and how to assess and manage your financial opportunities and risks.