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Alabama Cannabis Accounting

Puff Puff Accounting, serving Alabama, 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.

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

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.

Alabama 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 certainly means to tackle your accounting yourself as well as Do It Yourself it. Options like QuickBooks have actually made this possible, but I advise you, if you are doing one of these 2 things, you possibly require to allow another person look after it.

  1. If you are secretly wondering if you’re even doing this right in any way, that’s a red flag.
  2. If you’re refraining from doing it at all because well you do not know what to do and also it’s frustrating, that’s a significant red flag and also it’s time to allow a specialist take over.
What are common ways accountants bill their clients?
Some Certified public accountants expense per hour, they bill you some bucks per hour depending on how much time they put in. It’s additionally common to charge dealt with fees for private tasks. Your Certified Public Accountant could do your income tax return for one cost and prepare another quote for the following job. An additional preferred cost structure is the annual set cost arrangement. Your Certified Public Accountant may say, “I’m going to offer this range of services to you, and I’m mosting likely to provide you endless telephone call and unrestricted meetings, and also I’m mosting likely to do that all for $X quantity of bucks annually.” That buck amount would most likely be billed monthly.

We usually suggest relationships which are not per hour. Taken care of cost invoicing encourages communication between the customer and also the Certified Public Accountant. The more the CPA knows about the customer’s business as well as their life and what’s taking place, the far better guidance they can provide. When customers are unpleasant with grabbing the phone, afraid they’re going to get a huge bill, they are less most likely to select the phone speak to their CPA when they have something on their mind.

What should I expect from my CPA?
What you ought to anticipate from your CPA depends a great deal on your business purposes. If you’re an extremely local business as well as you’re not intending to expand a lot in the near future, maybe all you require is a person to prepare your tax return. However, maybe you have an expanding business. You need a person who can speak with you on staff member matters, administration issues, accounting system set up and also layout. These are some things to consider when envisioning the degree of dedication you require from your CPA.

I normally instructor my customers to create a wish list of points they desire from us. Naturally, the more dedication a client requires from us, the larger the engagement will certainly be, which will certainly raise expenses. Starting from the maximum and working down, however, is constantly the very best wager. We can instructor you on which items on your want list will be the most impactful to your service and which ones might be less important.

So checklist out those specific objectives you intend to accomplish with your Certified Public Accountant. “This is what I want out of that connection.” Don’t be afraid to make that a rather lengthy checklist. What you wish to do is pretend cash is no object. Listing every little thing that you want to get out of this connection. From that placement, you can start to focus on that checklist and also claim, “these 6 things are crucial in this connection that I’m going to have.”.

Do I need a bookkeeper or an accountant for my business?
So just how do you know who you need to work with? Should it be an accountant, an accounting professional, or a CPA? What’s the difference? One of the most essential thing is simply that you understand that these documents are being maintained and that you feel great in the person maintaining them.

An accountant preserves your accountancy documents. They get in all purchases, as well as they balance your funds. Accounting professionals specialize in funds, taxes, budget plans, organisation operations, payroll, as well as finance. Yet understand this, there are various kinds of accountants that concentrate on numerous areas of service. To put it simply, if you break your leg, don’t go to the dermatologist.

You want to make certain that you discover the appropriate person for your small business. Smoke Smoke Accountancy has accountants as well as accountants on personnel. In this manner. When it concerns monthly deal handling, our accountants can do it for a lesser charge. When we’re discussing money management and also tax obligation preparation, you have a Certified Public Accountant prepared to action in.

What are the 5 types of accountants?
What is action number one of coming to be lucrative in your business? You’re mosting likely to need an accounting professional. Currently you do not need to hire us. You can hire in home. If you take part in house, who should you get? There are a great deal of choices and also several spending plans around that you require to be aware of. You do not want to obtain the incorrect individual for the incorrect job description.

The first individual you’re going to work with is your bookkeeper. This is the data entry specialist. Relying on where you live, you’re mosting likely to pay a various amount for this person. If you stay in Idaho, for example, you might 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 perhaps $45,000 a year for the same setting. Know that this person offers a certain role. They’re not going to be solid at creating records for you or operating analytics or accounting procedures. Their task is to obtain information right into the system. And if you’re a new entrepreneur, likely, you’ve been doing this on your own. It’s smart to unload several of the heavy grunt work of accounting, which will permit you to start assessing the records. An accountant is a great hire for any person all set to increase their organisation, however not prepared to invest in the high leading tier accounting professionals right now.

The next level up men is the accountant. Currently, a lot of individuals think accountants as well as accounting professionals coincide. They’re not. It’s extremely, extremely various. You’re mosting likely to pay a greater amount for somebody that’s an accounting professional. Your accountant has actually been putting data right into the system all month long. Your accounting professional typically is helping to manage that process. After that, at the end of the month, your accounting professional will certainly do some of the even more heavy training tasks which require integrating your trial balance and also making month-end journal access. They will likewise do several of the accrual work that’s going to require to happen in your financials.

In many cases, an accounting professional will certainly assist create economic declarations. They are at that month’s end placement. For an accounting professional, depending once again on where you live, you can anticipate to pay anywhere from maybe $30k approximately $60k/year.

The next degree up is the controller. The controller fills up the procedure of managing the whole bookkeeping system. They get to coordinate what’s happening and when. They make sure the data is getting involved in the system promptly, which the month and basic passions are happening on schedule. The controller is accountable for the end product that’s coming out of the bookkeeping system. That is the annual report, the revenue statement, and the capital declaration. Those sort of records rest on the shoulders of your controller. This is a much more pricey setting to load, as well as it should be. This person requires to have a lot of experience, ought to a minimum of a bachelor’s level in accounting, if not entering their master’s level. I would certainly anticipate to pay anywhere from $45k to $85k/year for this person.

Now we’re going to speak about the King or queen on top of the hill. This is your CFO. CFO stands for “chief financial officer.” They hold a C suite placement in your company. This person’s pricey. You intend to beware when you employ a CFO due to the fact that not all CFOs are produced equal. Everything approximately this factor has been task-related, focusing on simply journal entrances and debiting and attributing. When you enter a CFO duty, this needs calculated thinking. Not all accounting professionals have that ability. If they’re unable to see the big picture and also create strategies that are service advancement associated, they aren’t gotten approved for the job. They must translate the work that the remainder of the group is doing into goals for your business. Your CFO requires to see to it that you’re hitting the targets you need to hit with the right amount of cash behind each goal. For a CFO, you can anticipate to pay anywhere from $75k to $250k/year. That is usually what I’ve seen nationwide for someone of this quality.

Lastly is the CPA. The Certified Public Accountant stands for “certified public accountant.” If you’ve begun your firm, you understand that you need a tax obligation man, right? That’s the Certified Public Accountant. His job is to do two points. One is to prepare your tax technique. That is to take every little thing you’re doing throughout the year and prepare it to ensure that you are not investing greater than you require to on tax obligations. That’s the main objective. However, a Certified Public Accountant commonly fills the duty of an auditor where they are available in as an independent party. They see to it that your publications are exact as well as clean as well as reflective of what’s taking place in the real life. In terms of cost, you’re mosting likely to invest anywhere in between $125 a hr to upwards of $450 a hr for a qualified CPA.

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(844) 382-8160