Contact Paul +

Time limit is exhausted. Please reload CAPTCHA.

Cost of goods sold

IRS Guidance On How Illegal Drug Businesses Should Compute Cost Of Goods Sold

IRS Guidance On How Illegal Drug Businesses Should Compute Cost Of Goods Sold

Chief Counsel Advice 201504011   In Chief Counsel Advice (CCA), IRS has: 1) concluded that persons that traffic in Schedule I and Schedule II controlled substances (e.g., marijuana) can currently deduct cost of goods sold (COGS) but must determine COGS by using rules that existed before the enactment of Code Sec. 263A to determine inventoriable […]

Read the full article →
Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

Read More

Connect With Paul on Social Media

Practice Areas & Information

Certifications &
Associations
Member CA Bar Member Orange County Bar US Tax Court Attorney