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How Do I Forecast with Tax Code 280E?

CFO Share

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. Even worse, an IRS income tax return does not follow the same rules as GAAP. What cannabis expenses are deductible under section 280E?

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Foot Locker’s Sales Spike Is Good News For Nike 

PYMNTS

Good news from athletic retailer Foot Locker looks like it’s good news for shoe giant Nike as well. So does recent good news from sporting goods retailer Hibbett Sports , which also reported that it expected comparable store sales to rise more than 70 percent for Q2. Both companies stocks rallied on Monday (Aug. The stock is up 75.68

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Alibaba’s Annual Active Consumers On China Marketplaces Hits 742M

PYMNTS

The firm reported annual active consumers on its China retail marketplaces hit 742 million in the quarter concluding June 30 compared to 674 million for the same quarter in 2019, marking an approximately 10 percent increase. As for its overall results, Alibaba reported non-GAAP net income of $5.6 earnings per share on $21.34

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PayPal Processed More Transactions On May 1 Than On Black Friday

PYMNTS

non-GAAP EPS without credit reserves came in at $.83 66 non-GAAP EPS. According to PayPal, the deteriorating economic situation in March slashed the volumes and revenue generated from travel and events while simultaneously depressing credit income. Minus the credit reserve impact, PayPal noted, $0.83

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Fitbit Sells 6M Wearable Devices In Q4 Amid Pending Google Acquisition

PYMNTS

As it sold more wearable devices and average selling price fell, which was driven by more affordable devices as well as higher promotions, Fitbit reported a non-GAAP net loss of $31 million for the fourth quarter. International revenue fell 7 percent year-over-year to arrive at $226 million. revenue dropped 16 percent to $276 million.

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Target Raises Its Comparable Sales Target For Q2

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Citing an improved traffic and retail shopping trend, retailer Target upped its comparable target sales for Q2 2017. Both GAAP and Adjusted EPS are expected to reflect a $0.05 In addition, GAAP EPS is expected to reflect $0.02 to $1.15. of pressure related to the unfavorable resolution of tax matters.

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FedEx Eyes B2B Growth In Health As Ground Hit With ‘Peak-Like’ Residential Volume

PYMNTS

As retailers shuttered their physical stores during the coronavirus pandemic and eCommerce adoption accelerated, FedEx Corporation ’s commercial business-to-business (B2B) volume fell in the U.S All in, FedEx reported adjusted non-GAAP revenue of $17.4 billion and adjusted non-GAAP diluted earnings per share (EPS) of $2.53

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