Calyx CPA

Calyx CPA LLC is a boutique tax and accounting firm specializing in the unique needs of plant medicine companies.

It offers comprehensive business consulting, entity advisory, tax planning, and tax preparation services to companies across the US. Calyx CPA offers business advisors, tax preparation, tax planning, and accounting services.

10/02/2026

Our friends at Ma*****na Moment reported earlier this week that the DEA administrative law judge has paused the ma*****na rescheduling proceeding while the parties address a new Government Accountability Office report criticizing gaps in the federal drug scheduling process. For anyone concerned that this somehow reverses what happened earlier this year with medical ma*****na, it does not.

What has been delayed is the broader proceeding that would move adult use ma*****na into Schedule III. That is still a big deal for the industry. According to BDSA, adult use cannabis sales were approximately $23.9 billion in 2025 compared with $7.6 billion of medical sales. That means roughly three quarters of the regulated cannabis market is adult use. For businesses operating only in adult use markets, we are going to have to wait a little longer. For businesses operating in states with both medical and adult use programs, I think the situation is much more interesting.

- Justin Botillier.

09/30/2026

The United States has now crossed $40 trillion in federal debt, and we are still adding trillions more through annual deficits. At some point, something has to give.

For decades, people have warned about the growing national debt, and for decades it has been relatively easy to ignore because the consequences were not immediately obvious. I think we are getting closer to the point where that is no longer true. We may see the problem unfold slowly through continued inflation, a dollar that buys less, and increasing pressure on the already dwindling middle class. Or we could eventually face a much more serious economic crisis.

Either way, the federal government cannot continue down this path forever. We are borrowing enormous amounts of money just to cover the difference between what the government collects and what it spends. Eventually, Congress will have to do something about both spending and the revenue side of the equation. If a future government seriously attempts to balance the budget, then it is going to mean higher taxes, fewer tax breaks, or both.

The good news is that there are a number of tools available today that can reduce how much of your income is exposed to future tax increases. Some allow money to grow tax-free. Others defer taxes, generate tax-free income, reduce taxable investment income, or allow you to access accumulated wealth without creating taxable income at all. The goal is not to predict exactly what Congress will do. The goal is to put yourself in a position where you have choices when it does. Visit our bio or calyxcpa.com/blogs for more.

09/24/2026

One of our dispensary clients recently caught an employee stealing. Management noticed that one employee was giving out an unusually high number of discounts, so they decided to test what was happening. They had a friend go into the store as a secret shopper. The friend placed an order, paid full price in cash, and left. After the customer walked away, the employee applied a 10% discount to the transaction and pocketed the difference.

The POS showed the discounted sales price, the correct product came out of inventory, and the cash drawer contained exactly what the POS said it should contain. If management had only been looking at cash and inventory reconciliations, they may never have found it.

In our latest article, I use this story to explain why traditional internal controls and segregation of duties are so important in cash-intensive businesses, but also why they can only go so far. We look at the Fraud Triangle, how collusion can defeat otherwise strong controls, and why simply having good systems in place does not necessarily prevent employee theft.

More importantly, we discuss the concept of the perception of detection, and why making employees believe that unusual activity will be noticed and investigated may be one of the most effective ways to prevent fraud before it happens.

If you own or manage a dispensary, I think there are some important lessons here about how to think about employee theft and fraud prevention beyond simply making sure your cash and inventory balance.

09/15/2026

Psychedelic businesses face some very real economic limitations. Where cannabis dispensaries have an almost unlimited upside due to their product being a commodity, Psilocybin centers sell something much different: time and space, which is limited. In addition, due to the efficacy of the medicine they have limited recurring revenue; clients may not return for months, years, or at all. They are under constant pressure to keep services affordable; add §280E, and an already difficult business model becomes even harder.

In our latest article, we look at why these businesses can be so difficult to operate, why the value of psilocybin services is often misunderstood, and how the CHAMP case may provide an important framework for separating the sale of psilocybin from the services surrounding it. We also discuss what smaller operators can do when they simply cannot afford a sophisticated tax strategy.

Sometimes growth is not the immediate goal. Sometimes the goal is simply to survive long enough to build a sustainable business. Read the rest of the article on calyxcpa.com/blogs

09/08/2026

Schedule III brings 280E tax relief, but the bigger story is how the DEA is quietly laying the groundwork for a federally regulated national supply chain. With separate registration pathways for cultivators, distributors, and dispensaries already in motion, a national market is taking shape, bringing lower production costs, national brands, and a massive wave of M&A activity.

The operators who win will be the ones who build a mature financial foundation before those changes arrive. Calyx’s Client Accounting and Advisory Services (CAAS) helps cannabis businesses strengthen financial reporting, optimize margins, improve forecasting, and position for upcoming lending and investment opportunities. Visit calyxcpa.com/blogs to read the full article.

07/17/2026

On July 15, the DEA concluded the administrative hearing on the Notice of Proposed Rulemaking for the rescheduling of "ma*****na," which began on June 29, 2026. While the final result may take time; the administrative law judge is under no deadline to issue a recommendation, and the DEA has no fixed deadline to act. The uncertainty surrounding the rulemaking is not a reason for cannabis operators to wait.

All cannabis businesses - whether they operate in medical, adult-use-only, or mixed markets - should consider amending their returns while the relevant statutes of limitations remain open. The legal basis for challenging Section 280E is stronger than it has ever been.
Read the rest of the article at
https://vist.ly/5bmmz

07/14/2026

The Department of Justice has announced the rescheduling of medical ma*****na and encouraged the Treasury Secretary to consider allowing state-licensed medical ma*****na businesses to amend prior-year tax returns affected by 280E. Treasury has announced that guidance is forthcoming, but no one knows when it will arrive or how far it will go.

The window to amend is closing. Businesses impacted by 280E have a limited window to claim refunds or reduce prior-year tax liabilities. Waiting for IRS guidance may mean losing the opportunity to claim refunds for years that would otherwise be available.

This presentation will explain why cannabis businesses should consider amending their returns now rather than waiting for IRS guidance. We will discuss the current status of medical ma*****na rescheduling, the unresolved position of adult-use cannabis, the risk of expiring refund statutes, and how operators can claim their refunds before the window closes.

Learning Objectives:

Outline the current status of cannabis rescheduling and how it affects the various state-regulated cannabis operators.
Identify the difference between medical ma*****na and adult-use cannabis in the current rescheduling discussion.
Understand how forthcoming Treasury and IRS guidance may affect the cannabis industry.
Evaluate the risks and benefits of amending prior-year tax returns before formal guidance is issued.
Recognize how expiring statutes of limitation can limit or eliminate refund opportunities for cannabis businesses.

Register here:

https://vist.ly/5b8ia

06/19/2026

NORML's article highlights another important example of federal cannabis policy colliding with legal reality. If the Supreme Court is unwilling to treat cannabis consumers as categorically dangerous for purposes of constitutional rights, it becomes harder to defend the idea that cannabis belongs in Schedule I at all. Calyx’s take is simple: the Schedule I designation is outdated, punitive, and inconsistent with how courts, regulators, states, businesses, and consumers actually understand cannabis today.

06/03/2026

This is Jourdan Pym VP of People & Places Karbon. He gets Calyx's award for being the most welcoming and well dressed Karbon team member at the event. 💠

PS, Bryant enjoys a sturdy Palm Tree from time to time. 🌴

06/02/2026

Incredible evening catching up with the brilliant Sara, cofounder of Karbon! 🌟

Sara Goepel is Chief Product Officer, she was among the first few team members at Karbon. She told us her story of helping build Karbon into a 300+ employee international software company. She is super inspirational.🚀📊

Address

221 W 10th Street
Medford, OR
97501

Website

https://www.CalyxCPA.com/

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