Rittertime is built upon the relationships we make with individuals and organizations across a breadth of industries. We form these connections mainly by learning from others and sharing our knowledge. Here is where we share the key info that you can use to grow your business and achieve your goals.
Cash is the lifeblood of cannabis businesses, like most businesses cannabis operators need to grow and evolve to meet the needs of the market and deliver value on the assets they possess. A conventional business could go about raising capital by selling shares of stock, selling assets or getting a loan from a bank. Because cannabis is still classified as a Schedule 1 drug operators have limited options.
Here at Rittertime the relationships we develop with our clients are the lifeblood of our business. The Cannabis industry has taken off like a rocket and has been on a steady course up ever since. Although sales are growing in all of the states which have repealed the prohibition, there are other factors orbiting the industry that pose a risk to cannabis operators.
In 2017, the US Congress passed the Tax Cuts and Jobs Act of 2017, one aspect of this gives investors the opportunity to defer or eliminate taxes. The key element of this new law is to cultivate lasting investment in the areas where America needs it the most, these areas are called Opportunity Zones and they can be found in all types of communities across the country.
A 1031 Exchange is an incredibly useful tool for any real estate owner, broker or investor to increase net worth of real estate. This type of transaction is designed to put the proceeds of a sale of real estate into useful equitable channels instead of paying hefty capital gains taxes. Often referred to as trading up, using a 1031 exchange allows you to sell one property and invest in another consecutively that has a higher value allowing you to restructure your portfolio and ideally increase both your net worth and cash flow while deferring all taxes from the sale.