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Washington Cannabis Accounting

Puff Puff Accounting, serving Washington, is a cannabis industry focused CPA firm. We put all the pieces together so that you can focus on making money with your cannabis business.

You need CPA who understands the cannabis industry – (833) 319-0797

Puff Puff Accounting has provided tax planning, auditing and accounting services for cannabis businesses through the United States. You won't just see as at tax season. We advise many of our clients throughout the year. when you work with Puff Puff Accounting, you're not just meeting with a team of experienced accountants, you're gaining a lifelong advisor.

Our Services

Audit Response & Tax Resolution

Tax audits often happen years after the return in question was filed. That can make for a messy situation.

Corporate Entity & Structure Planning

Of all the choices you make when starting a business, one of the most important is the type of legal structure you select for your company.

Technical Accounting Services

Whether it’s preparing compliant financial statements or preparing for an audit, accounting responsibilities can be complex.

Tax Planning & Preparation

Tax preparation is a service that helps you file your tax returns. Make sure your tax reporting complies with federal and state tax laws.

Payroll Services

Payroll service will collect wage and hour information from the employer and use that information to calculate gross wages.

Bookkeeping Services

Recording receipts from customers. Verifying and recording invoices received from suppliers. Paying suppliers. Processing employees’ pay.

We Are Experts In Cannabis Tax Law

A lot of our new business comes from referrals from existing clients. That really says lot about how our clients are satisfied with the level of work that we perform for them.

Our clients tell their friends how well their accountant takes care of them. They say "My account is my friend now. I trust her." That level of trust is what we strive to achieve with all our clients.

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Tax Peace Of Mind

We do our best to maximize our client's return and get deductions for them that keeps them out of trouble.
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We're Affordable

When we work with small cannabis businesses, basically we become their affordable in house CFO.
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Year Long Tax Planning

The value that a client receives from a full service firm like Puff Puff Accounting is that they get full advisory and planning all year long.

Big Savings

1 Free Hour - (833) 319-0797

Get A Free Online Consultation

Have burning questions you need to get answered? Take advantage of our free 1 hour initial consultation.

Testimonnials

“Hiring Edwin was one of the first and one of the best decisions I ever made when I first launched my company. He’s gone up to bat for me several times and is always on top of the latest changes in tax law. I couldn’t recommend Edwin more.”
Tylor B

“Our very first visit with this team put us at such ease and assurance that sharing all of our financial details was in very capable, professional and personable hands. We have been very pleased with the level of service we are receiving year in and year out.”
Adrian F

“They use the most current technology to securely access and review my confidential documents in a user-friendly platform. They are professional and have integrity that is hard to find. I would highly recommend J Chester to anyone.”
Ginger D

Protect Investments
Maintain Margins
Drive Growth

CPA Relationship Built On Trust

Finding a good CPA is almost like trying to find a good boyfriend or girlfriend. It's kind of like dating in a sense because it really starts with trust. This is a person who is going to know a tremendous amount of information about you. They're going to know your social security numbers. They're going to know how much you make and how you make your money.. They're going to really know your life and at a very personal level that most other professionals will never know and so it's really important you find somebody you can trust.

This trust is especially important for entrepreneurs in the cannabis industry. We build our client relationships on a solid foundation of trust. Spend an hour talking with us about your cannabis business and you'll know exactly what that means. We want to be your CPA and your trusted friend. We want to be the first person you call when there's a financial propblem in your company.

Our Mission

Talent is what sets exceptional organizations apart from the pack. At Puff Puff Accounting, we are committed to high standards of professionalism, integrity, and capability. When you hire a us as your CPA, you can rest assured that you're hiring a professional with a financial proficiency, strategic vision and commitment that will help your cannabis business compete and succeed.

Our mission is to be equipped to manage the pressures and pace of the cannabis industry with a deep understanding of cannabis laws. We will help you run an exceptional business while working within strict cannabis laws and regulations.

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Happy Clients

Recreational Use States

Medical Legalized States

Our Vision

CPAs work with a variety of businesses in every industry imaginable on a regular basis. It's not uncommon for a CPA to start the day working with a car dealership and by lunchtime a manufacturer and then in the afternoon to be solving a complicated issue related to a trust.

Our vision is to specialize in the cannabis industry in order to offer a level of expertise that cannot be matched by a traditional CPA firm.

Washington Cannabis Tax Services

The cannabis industry is unique. Don’t risk your livelihood my hiring a CPA who doesn’t have experience with cannabis laws and regulations. We will be your guide through a sea of stumbling blocks.

We specialize in cannabis tax law and regulations.

Cannabis Tax Planning And Preparations

Cannabis entrepreneurs carry a heavy tax burden. These taxes can make it difficult for cannabis businesses to generate a profit. Proper tax planning and knowledge of cannabis tax law is critical. Let us reduce your tax liability and increase your profits.

Tax Compliance

Cannabis tax law is complicated. Don't risk your business by being unaware of your tax liability.
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Yearly Tax Filing

Proper tax planning can massively reduce your tax liability at the end of the year.

Tax Resolution

Get representation by someone who knows the complexities of cannabis tax law. Don't risk hiring a traditional CPA.

Revenue Reconsiliation

A revenue reconciliation confirms whether your financial accounting matches your VAT statements. We recommend that you perform a revenue reconciliation at the end of each tax period, so that any incorrect bookings can be identified in a timely manner.

Financial Statements And Audit Support

There are four main financial statements. They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders’ equity. Balance sheets show what a company owns and what it owes at a fixed point in time.

Business Combinations

A business combination is a transaction in which the acquirer obtains control of another business (the acquiree). Business combinations are a common way for companies to grow in size, rather than growing through organic (internal) activities.

Get In Touch With a Professional

Send a Message

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Frequently Asked

When is it time to hire a CPA for my cannabis business?

There are absolutely ways to tackle your accountancy yourself and DIY it. Alternatives like QuickBooks have made this possible, but I advise you, if you are doing among these two points, you possibly require to allow someone else look after it.

  1. If you are secretly wondering if you’re also doing this right in all, that’s a red flag.
  2. If you’re refraining it whatsoever because well you don’t know what to do as well as it’s frustrating, that’s a huge red flag and also it’s time to let a specialist take control of.
What are common ways accountants bill their clients?
Some Certified public accountants costs hourly, they charge you some bucks per hr depending on how much time they put in. It’s additionally usual to bill taken care of costs for specific tasks. Your Certified Public Accountant may do your income tax return for one rate as well as prepare an additional quote for the next job. An additional popular price structure is the annual set rate agreement. Your CPA might say, “I’m mosting likely to supply this series of services to you, as well as I’m mosting likely to provide you endless call as well as endless meetings, and also I’m going to do that all for $X amount of dollars annually.” That buck quantity would more than likely be billed monthly. We normally recommend partnerships which are not hourly. Fixed fee billing encourages interaction between the customer and also the CPA. The more the CPA knows about the customer’s organisation and their life and also what’s taking place, the far better advice they can provide. When clients are uneasy with picking up the phone, scared they’re going to get a large bill, they are much less likely to choose the phone talk to their CPA when they have something on their mind.
What should I expect from my CPA?
What you need to anticipate from your Certified Public Accountant depends a lot on your organisation goals. If you’re a very small company and you’re not preparing to expand a lot in the near future, maybe all you require is someone to prepare your tax return. Nevertheless, perhaps you have an expanding company. You require someone who can talk to you on employee issues, administration problems, accounting system established and also design. These are some points to think about when imagining the degree of commitment you require from your CPA. I commonly trainer my customers to assemble a want list of points they want from us. Naturally, the even more commitment a client needs from us, the larger the interaction will certainly be, which will boost costs. Beginning with the maximum and also working down, however, is always the most effective bet. We can coach you on which things on your shopping list will be one of the most impactful to your company and also which ones could be less important. So list out those specific objectives you wish to complete with your CPA. “This is what I want out of that partnership.” Do not be afraid to make that a pretty long list. What you want to do is pretend money is no item. Checklist whatever that you wish to get out of this partnership. From that placement, you can start to focus on that list and say, “these six points are essential in this connection that I’m going to have.”.
Do I need a bookkeeper or an accountant for my business?
So exactly how do you know who you require to work with? Should it be an accountant, an accounting professional, or a CPA? What’s the difference? The most essential thing is just that you know that these documents are being maintained which you feel great in the individual maintaining them. An accountant keeps your bookkeeping documents. They get in all transactions, and also they balance your funds. Accountants focus on financial resources, taxes, spending plans, organisation operations, pay-roll, and also finance. However understand this, there are various sorts of accountants that specialize in numerous areas of organisation. Simply put, if you damage your leg, don’t most likely to the dermatologist. You want to make sure that you discover the right individual for your local business. Puff Smoke Audit has bookkeepers as well as accountants on team. By doing this. When it concerns month-to-month deal handling, our accountants can do it for a minimal cost. When we’re talking about money management and also tax obligation preparation, you have a CPA ready to step in.
What are the 5 types of accountants?
What is action primary of coming to be rewarding in your company? You’re mosting likely to require an accounting professional. Currently you do not have to employ us. You can hire in house. If you take part in house, that should you obtain? There are a great deal of choices and also various budgets available that you need to be aware of. You don’t want to get the wrong individual for the wrong job description. The first person you’re mosting likely to employ is your bookkeeper. This is the information entrance expert. Depending upon where you live, you’re mosting likely to pay a different amount for this person. If you stay in Idaho, for instance, you could be on the lower end around 18 to $20,000 a year. But if you’re in New York or The Golden State, you could be upwards of 40,000 or even $45,000 a year for the very same placement. Know that this person offers a details duty. They’re not going to be solid at developing records for you or operating analytics or accounting procedures. Their task is to obtain information into the system. And if you’re a brand-new entrepreneur, likely, you’ve been doing this on your own. It’s wise to offload a few of the hefty dirty work of accounting, which will enable you to begin assessing the reports. An accountant is an excellent hire for any person prepared to expand their business, however not prepared to purchase the high leading tier accountants just yet. The next degree up individuals is the accounting professional. Now, a great deal of individuals believe accountants as well as accountants coincide. They’re not. It’s extremely, very various. You’re going to pay a greater amount for someone that’s an accountant. Your bookkeeper has actually been placing data into the system all month long. Your accounting professional normally is aiding to oversee that process. After that, at the end of the month, your accounting professional will do some of the more hefty training jobs which require reconciling your test balance and making month-end journal entries. They will also do some of the amassing job that’s mosting likely to require to occur in your financials. In some cases, an accountant will certainly aid develop financial declarations. They are at that month’s end position. For an accountant, depending once again on where you live, you can anticipate to pay anywhere from perhaps $30k approximately $60k/year. The next level up is the controller. The controller fills up the process of overseeing the whole accountancy system. They get to orchestrate what’s happening and also when. They make sure the data is entering into the system on time, which the month and also basic interests are taking place on time. The controller is responsible for the final product that’s appearing of the audit system. That is the annual report, the earnings statement, and the capital statement. Those type of records hinge on the shoulders of your controller. This is a much more costly position to fill up, as well as it should be. This person needs to have a lot of experience, must at least a bachelor’s level in accounting, if not getting involved in their master’s level. I would certainly expect to pay anywhere from $45k to $85k/year for this person. Now we’re mosting likely to speak about the King or queen in addition to the hill. This is your CFO. CFO means “chief financial officer.” They hold a C collection position in your company. This person’s costly. You intend to beware when you work with a CFO since not all CFOs are produced equal. Everything as much as this factor has actually been task-related, focusing on just journal entrances and also debiting as well as crediting. When you enter a CFO function, this requires strategic reasoning. Not all accountants have that capacity. If they’re not able to see the big picture and develop plans that are organisation development related, they aren’t qualified for the work. They must convert the job that the rest of the group is doing into goals for your business. Your CFO requires to make sure that you’re hitting the targets you need to hit with the correct amount of money behind each goal. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is commonly what I have actually seen nationwide for someone of this caliber. Lastly is the Certified Public Accountant. The Certified Public Accountant means “cpa.” If you’ve begun your firm, you know that you need a tax obligation individual, right? That’s the CPA. His job is to do 2 points. One is to prepare your tax obligation strategy. That is to take everything you’re doing throughout the year and prepare it to make sure that you are not spending more than you need to on taxes. That’s the primary objective. Nevertheless, a Certified Public Accountant usually fills the function of an auditor where they come in as an independent party. They make certain that your publications are precise and clean and reflective of what’s occurring in the real life. In terms of cost, you’re mosting likely to spend anywhere between $125 a hr to upwards of $450 a hr for a qualified CPA.

Contact Us

(833) 319-0797