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How Do I Forecast with Tax Code 280E?

CFO Share

In simple terms, that means the cannabis industry taxable income is closer to its revenue rather than profit. The difference between cost of goods sold and ordinary business expenses is well defined in Generally Accepted Accounting Principles (GAAP) but routinely ignored by small business bookkeeping services. Interest expense.

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Cash App Drives Square Strong Q2 Results

PYMNTS

Analysts at Refinitiv, the London-based global provider of financial market data, had predicted a 5 cent loss. Square’s net loss for the Q2 was $11 million on a GAAP basis. Its Cash App , which competes head-to-head with PayPal’s Venmo , was the key factor that drove Square’s profitability in Q2. Wednesday (Aug.

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SEC Flags Benchmark That Obscured WeWork’s Bottom Line

PYMNTS

The We Company , the parent of WeWork , uses a cash-flow metric called the “contribution margin,” which showed that its core services were profitable, Bloomberg Tax reported on Tuesday (Dec. The company used generally accepted accounting principles (GAAP) to essentially turn a $1.9 billion net loss into a $142 million profit.

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Uber Expects Revenue Plunge As It Retracts 2020 Guidance 

PYMNTS

billion impairment charge and $17-22 million in first-quarter losses. It is also anticipating a GAAP revenue drop of $17-$22 million in the first quarter and $60-$80 million in the second quarter. Second-quarter losses are estimated to be $60-$80 million. . “To Further, the rideshare giant said it is expecting a $1.9-$2.2

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Groupon Reports Wider Q2 Loss As It Focuses On Evolving Business Model

PYMNTS

Groupon reported a wider-than-expected loss during the second quarter, as it continued its efforts to restructure its core voucher-based business model and expand its international business. The firm said that gross profit fell 6 percent in North America to $219.4 The company reported non-GAAP earnings of $10.7

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How to create & use pro forma statements

Cube Software

Pro forma financial statements and GAAP It's important to note that, since pro forma statements are based on hypothetical or projected data, they are not compliant with generally accepted accounting principles—GAAP statements must be based on actual financial results.

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Square Cash Tests Small-Dollar, Short-Term Loans

PYMNTS

Cash App, which competes head-to-head with PayPal’s Venmo, was the key factor that drove Square’s profitability in Q2. Analysts at Refinitiv, the London-based global provider of financial market data, had predicted a 5-cent loss. Square’s net loss for Q2 was $11 million on a GAAP basis.