--- title: "Meaning & Key Takeaway of: While the legalization of Cannabis is…" description: "\"“While the legalization of Cannabis is still new and being regulated for growing, packaging, distribution and sales, the IRS is old and has many regula..." image: "https://sms4smile.com/quotes/i/e34/loren-weisman-4993_business_while-the-legalization-of-cannabis-is-st_2503198.jpg" --- # While the legalization of Cannabis is still new and being… ![“While the legalization of Cannabis is still new and being regulated for growing, packaging, distribution and sales, the IRS is old and has many regulations for businesses that can not be ignored, avoided or taken lightly. Shortcut this and things can get very taxing. If you are playing in this new…” quote by Loren Weisman](https://sms4smile.com/quotes/i/e34/loren-weisman-4993_business_while-the-legalization-of-cannabis-is-st_2503198.jpg) [Download](https://sms4smile.com/quotes/i/e34/loren-weisman-4993_business_while-the-legalization-of-cannabis-is-st_2503198.jpg) [Open image](https://sms4smile.com/quotes/i/e34/loren-weisman-4993_business_while-the-legalization-of-cannabis-is-st_2503198.jpg) > ““While the legalization of Cannabis is still new and being regulated for growing, packaging, distribution and sales, the IRS is old and has many regulations for businesses that can not be ignored, avoided or taken lightly. Shortcut this and things can get very taxing. If you are playing in this new field: Look to those with authority, expertise and knowledge that can not only help you with your taxes, but are also up to date with all of the rules, regulations, propositions, amendments and shifts in this exploding industry.”” [Loren Weisman](https://sms4smile.com/quotes/author/loren-weisman/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Navigating cannabis tax law requires expert guidance due to complex, evolving regulations and outdated IRS rules. **In simple terms:** Cannabis taxes are complex; get expert help. Key Takeaway Seek specialized tax advice. Themes taxation regulation industry risk Mood cautious pragmatic Type advisory informative When to use this quote - cannabis business startup - financial reporting - tax filing - regulatory audit Key Concepts compliance legal risk financial planning Questions to Reflect On - How can you verify a tax advisor’s expertise? - What risks arise from outdated IRS rules? A Different Perspective Ignoring expert advice can lead to costly penalties. ★ ★ ★ ★ ★ No ratings yet [Business](https://sms4smile.com/quotes/about/business/) [Cannabis](https://sms4smile.com/quotes/about/cannabis/) [Hemp](https://sms4smile.com/quotes/about/hemp/) [Legalization](https://sms4smile.com/quotes/about/legalization/) [Wine](https://sms4smile.com/quotes/about/wine/) ## Related quotes > [“If you are breaking the law, it is better when someone other than the IRS finds out first.”](https://sms4smile.com/quotes/amit-chandel/if-you-are-breaking-the-law-it-is-better-when-someone-other-than-the/) Amit Chandel > [“Cannabis is just way too healthy for a sick health care system”](https://sms4smile.com/quotes/sebastian-marincolo/cannabis-is-just-way-too-healthy-for-a-sick-health-care-system/) [Sebastian Marincolo](https://sms4smile.com/quotes/author/sebastian-marincolo/) > [“I believe in the power of business to positively shape the world. It was the business opportunity offered by the legalization of cannabis that…](https://sms4smile.com/quotes/adam-bierman/i-believe-in-the-power-of-business-to-positively-shape-the-world-it/) Adam Bierman ## More by Loren Weisman > [“Stop spending money to be nominated for worthless awards with no substance and no worth to your career. If you have to spend money…](https://sms4smile.com/quotes/loren-weisman/stop-spending-money-to-be-nominated-for-worthless-awards-with-no/) [Loren Weisman](https://sms4smile.com/quotes/author/loren-weisman/) > [“Consider standing in honor and transparency whether behind closed doors or if those doors are open to the world at large.”](https://sms4smile.com/quotes/loren-weisman/consider-standing-in-honor-and-transparency-whether-behind-closed/) [Loren Weisman](https://sms4smile.com/quotes/author/loren-weisman/) > [“Are you humble enough to state something as an opinion and educated enough to deliver a substantiated defense as well as sound reasoning why…](https://sms4smile.com/quotes/loren-weisman/are-you-humble-enough-to-state-something-as-an-opinion-and-educated/) [Loren Weisman](https://sms4smile.com/quotes/author/loren-weisman/) > [“Do your morals, honor, and ethics only come across in your words? Or do they also show up in your works, your actions and…](https://sms4smile.com/quotes/loren-weisman/do-your-morals-honor-and-ethics-only-come-across-in-your-words-or-do/) [Loren Weisman](https://sms4smile.com/quotes/author/loren-weisman/) > [“Playing the blame game is stupid and childish. Even if it is someone else’s fault, the blame game is wasted time, effort, and energy…](https://sms4smile.com/quotes/loren-weisman/playing-the-blame-game-is-stupid-and-childish-even-if-it-is-someone/) [Loren Weisman](https://sms4smile.com/quotes/author/loren-weisman/) > [“Your volume speaks volumes. 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Match the motivation, determination and drive with education,…](https://sms4smile.com/quotes/loren-weisman/all-the-drive-in-the-world-is-worthless-if-you-are-driving-yourself/) [Loren Weisman](https://sms4smile.com/quotes/author/loren-weisman/) > [“If I have to justify or prove my friendship to you by liking or sharing a post, then we are not friends. People I…](https://sms4smile.com/quotes/loren-weisman/if-i-have-to-justify-or-prove-my-friendship-to-you-by-liking-or/) [Loren Weisman](https://sms4smile.com/quotes/author/loren-weisman/) > [“It is not your fans or your customers’ job to market you. Stop treating them like it is.”](https://sms4smile.com/quotes/loren-weisman/it-is-not-your-fans-or-your-customers-job-to-market-you-stop-treating/) [Loren Weisman](https://sms4smile.com/quotes/author/loren-weisman/) > [“I do not disconnect because I disagree with someone on something, some view or some opinion. If I disconnect, it is because of how…](https://sms4smile.com/quotes/loren-weisman/i-do-not-disconnect-because-i-disagree-with-someone-on-something-some/) [loren weisman](https://sms4smile.com/quotes/author/loren-weisman/) > [“Marketing and promoting doesn’t come down to the likes, the pins, the plus ones, the followers, the fans, the friends, the views, or the plays…](https://sms4smile.com/quotes/loren-weisman/marketing-and-promoting-doesn-t-come-down-to-the-likes-the-pins-the/) [Loren Weisman](https://sms4smile.com/quotes/author/loren-weisman/) > [“Choose those you give your trust to carefully. Be caring; be loving; be creative. But also be careful.”](https://sms4smile.com/quotes/loren-weisman/choose-those-you-give-your-trust-to-carefully-be-caring-be-loving-be/) [Loren Weisman](https://sms4smile.com/quotes/author/loren-weisman/) > [“Would you mind if that post, pic, comment or content was seen tomorrow, next week, next month and next year? 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