MCA Accounting Solutions / MyCannabisAccountant.com

BACKGROUND

Introduce your business and what you do there.

I’m a co-founder and managing partner at Digital Venture Partners, which is a brand portfolio operating in media and is a non-plant-etching company in Cannabis. 

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with MCA Accounting Solutions / MyCannabisAccountant.com?

MCA has an amazing background in accounting, so we hired them to provide accounting services for us.

SOLUTION

What was the scope of their involvement?

We have a burgeoning relationship with MCA. Harry (Founder & Managing Partner) has helped us file for an LLC at the beginning of the pandemic in the state of Georgia. They coached us through the whole process to get all the paperwork done. It took several months, but they’ve driven the licensing forward. It also allowed us to get a bank account within the state. At present, we’re in the process of filing as an S corporation (S corp). 

They also help us organize our taxes. We were initially a bootstrap company — it was only me and my partner — but we’ve recently brought on several other people, so we’ll also be leveraging MCA in terms of accounting and payroll services. 

On top of that, Harry and the account services team have given us advice around raising money and gauging what people are looking for. They also advise us on making sure that we’re properly covered for all the money that we’ve invested into the business entity.

What is the team composition?

We mainly work with Harry and his assistant. I also recently started working with a couple of other people on their team, although my assistant is the one interfacing with them.

How did you come to work with MCA Accounting Solutions / MyCannabisAccountant.com?

I met their founder at an event, and we had a bunch of positive conversations. We needed accounting services, so we hired them. 

How much have you invested with them?

So far, we’ve invested around $750.

What is the status of this engagement?

We started the partnership in April 2020, and the engagement is ongoing. 

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

They’ve been a great resource for us. Since MCA is only giving us advice and helping us stay organized with our tax documentation, we have no quantitative metrics. However, they’ve been highly responsive and persistent, and they’re quick to answer and give us all the information we need — they’ve been very accessible, and it’s been a great experience. 

How did MCA Accounting Solutions / MyCannabisAccountant.com perform from a project management standpoint?

From a project management standpoint, MCA performs phenomenally. We typically communicate with them via emails and texts, as well as phone calls. 

What did you find most impressive about them?

Their industry knowledge, the size of their team, the experience they provide, and the quality of their services distinguish them from other providers.

Are there any areas they could improve?

MCA can do a better job at marketing themselves. I know for a fact that they have great clients and a great operation, but they can get even bigger. I’d like to see them take the business to the next level. 

Do you have any advice for potential customers?

Use their technology; they have a great platform for uploading documents. On top of that, ask as many questions as you feel you need to ask because they’re truly informative. They highly value their clients being informed, so ask away and don’t be shy.

BACKGROUND

Introduce your business and what you do there.

I’m a real estate broker and I run a national team.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with MCA Accounting Solutions?

I needed help with accounting.

SOLUTION

What was the scope of their involvement?

They do my business taxes as well as my personal finances. They oversee everything from start to finish.

What is the team composition?

I work with Harry (Managing Partner).

How did you come to work with MCA Accounting Solutions?

We’d been looking for an accountant for a while. We met at a conference in Las Vegas and we started working together from there.

How much have you invested with them?

We’ve spent over $100,000 at this point. They’re on retainer for $5,000 per month, not including Adhoc things.

What is the status of this engagement?

We started working together in January 2018, and our work is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

Harry’s very clever and he makes sure all of my taxes are taken care of. We’ve never been audited, which is a plus.

How did MCA Accounting Solutions perform from a project management standpoint?

He’s very responsive to me. Whenever I text him, he texts back. There’s a lot of last-minute things, as with any accountant.

What did you find most impressive about them?

They get the job done. They always listen to whatever suggestions we make. Harry’s like any of my friends and we really hit it off.

Are there any areas they could improve?

Their email communication could use some improvement, but they’re very responsive over text.

Do you have any advice for potential customers?

If you’re making $250,000 or more per year, they’re great to work with. I probably wouldn’t use them if I made less than six figures.

BACKGROUND

Introduce your business and what you do there.

I am the CFO of PB&J Flowers Consulting LLC. We’re a firm that contracts managing cannabis grow operations.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with MCA Accounting Solutions?

The tax laws for legal cannabis are particularly complicated. We needed an expert to help us navigate that.

SOLUTION

What was the scope of their involvement?

MCA Accounting Solutions provided accounting services for us. Their team helps with statements, reviews, and tax preparation. We provided our accounting records, bank statements, and invoices to them.

What is the team composition?

I worked with three members of the team.

How did you come to work with MCA Accounting Solutions?

We found them via Google while searching for accounting firms that specialize in legal cannabis. After interviewing four companies, we chose to work with MCA Accounting Solutions. 

How much have you invested with them?

We have invested about $5,000 so far.

What is the status of this engagement?

Our ongoing partnership began in October 2019.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

They take a very personal approach. MCA Accounting Solutions took the time to get to know us and our business. Their follow up has been very thorough. They check in on how our business is doing and what our plans for the future are. 

How did MCA Accounting Solutions perform from a project management standpoint?

Our teams mostly communicate via phone, email, and text.

What did you find most impressive about them?

MCA Accounting Solutions is very engaged and understands all of the nuances of the industry. They seemed very comfortable from the get-go. Overall, they’re great people to talk to.

Are there any areas they could improve?

We had some timeliness issues, but we also got a late start. We ended up filing an extension since our returns weren’t complete in time, but it was fine.

Do you have any advice for potential customers?

Communication is key. Don’t be afraid to reach out to them with questions and be open with them. Feel free to question their decisions and have them justify them. They’re very open to feedback.