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Arizona Cannabis Accounting

Puff Puff Accounting, serving Arizona, 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.

Arizona 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 means to tackle your bookkeeping yourself and DIY it. Options like QuickBooks have actually made this possible, yet I advise you, if you are doing among these 2 points, you most likely require to allow someone else take care of it.

  1. If you are covertly questioning if you’re even doing this right in all, that’s a red flag.
  2. If you’re refraining it in any way because well you do not recognize what to do and it’s overwhelming, that’s a massive red flag as well as it’s time to let a specialist take control of.
What are common ways accountants bill their clients?
Some Certified public accountants expense hourly, they bill you some dollars per hour depending upon how much time they place in. It’s additionally common to charge taken care of charges for specific tasks. Your CPA might do your tax return for one rate as well as prepare another quote for the next task. Another prominent price structure is the yearly fixed rate arrangement. Your Certified Public Accountant could claim, “I’m going to provide this series of services to you, and also I’m mosting likely to give you limitless phone calls and unlimited conferences, as well as I’m mosting likely to do that all for $X amount of dollars annually.” That dollar quantity would most likely be billed monthly. We usually recommend partnerships which are not hourly. Repaired cost payment urges interaction in between the client and also the Certified Public Accountant. The even more the CPA learns about the client’s business as well as their life and also what’s taking place, the far better suggestions they can provide. When customers are uncomfortable with grabbing the phone, scared they’re going to get a huge bill, they are less likely to pick the phone talk to their CPA when they have something on their mind.
What should I expect from my CPA?
What you need to expect from your CPA depends a lot on your company objectives. If you’re a very local business and you’re not intending to grow a lot in the future, perhaps all you require is somebody to prepare your tax return. Nevertheless, probably you have a growing organisation. You require somebody who can speak with you on employee issues, management problems, accounting system set up and style. These are some points to take into consideration when picturing the level of dedication you need from your Certified Public Accountant. I generally train my clients to put together a wish list of things they want from us. Of course, the even more dedication a customer requires from us, the bigger the interaction will be, which will enhance costs. Beginning with the maximum and working down, however, is constantly the best wager. We can coach you on which products on your shopping list will certainly be one of the most impactful to your business and also which ones could be less important. So checklist out those certain objectives you wish to achieve with your CPA. “This is what I want out of that connection.” Do not be afraid to make that a rather long checklist. What you want to do is pretend cash is no item. Checklist everything that you desire to leave this connection. From that position, you can start to focus on that checklist and claim, “these six points are most important in this partnership that I’m going to have.”.
Do I need a bookkeeper or an accountant for my business?
So how do you know who you require to hire? Should it be a bookkeeper, an accounting professional, or a Certified Public Accountant? What’s the difference? One of the most crucial point is just that you understand that these documents are being kept which you feel great in the individual maintaining them. An accountant maintains your accounting documents. They get in all purchases, and also they balance your funds. Accountants concentrate on finances, tax obligations, spending plans, service procedures, pay-roll, and money management. But recognize this, there are various kinds of accounting professionals that specialize in various areas of organisation. Simply put, if you break your leg, don’t most likely to the skin specialist. You wish to ensure that you locate the ideal individual for your small business. Puff Smoke Audit has bookkeepers and also accountants on team. By doing this. When it pertains to regular monthly transaction processing, our bookkeepers can do it for a lesser cost. When we’re talking about money management and also tax planning, you have a CPA all set to action in.
What are the 5 types of accountants?
What is action top of coming to be lucrative in your service? You’re going to require an accounting professional. Currently you don’t have to hire us. You can hire in house. If you participate in home, who should you get? There are a lot of choices and also various budget plans around that you require to be aware of. You do not want to get the wrong individual for the incorrect job summary. The first individual you’re mosting likely to employ is your accountant. This is the information entry professional. Depending upon where you live, you’re going to pay a various quantity for this person. If you reside in Idaho, for instance, you may be on the reduced end around 18 to $20,000 a year. Yet if you’re in New York or California, you could be upwards of 40,000 or perhaps $45,000 a year for the exact same setting. Know that he or she serves a specific 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 also if you’re a brand-new entrepreneur, likely, you’ve been doing this on your own. It’s clever to unload a few of the heavy grunt work of accounting, which will certainly permit you to begin analyzing the records. An accountant is a great hire for any person all set to broaden their business, but not prepared to buy the high top rate accountants just yet. The following level up people is the accounting professional. Now, a lot of people believe bookkeepers as well as accountants are the same. They’re not. It’s very, really different. You’re going to pay a greater quantity for someone that’s an accounting professional. Your bookkeeper has actually been placing data right into the system all month long. Your accountant normally is aiding to manage that process. After that, at the end of the month, your accountant will do some of the even more hefty training jobs which need reconciling your test equilibrium and also making month-end journal entries. They will certainly likewise do some of the amassing work that’s going to require to happen in your financials. In some cases, an accountant will certainly aid create monetary statements. They are at that month’s end placement. For an accountant, depending once again on where you live, you can anticipate to pay anywhere from possibly $30k as much as $60k/year. The next degree up is the controller. The controller fills the procedure of managing the entire accounting system. They get to orchestrate what’s taking place and also when. They ensure the data is getting involved in the system on time, and that the month and also basic passions are occurring promptly. The controller is responsible for the final product that’s coming out of the accounting system. That is the balance sheet, the revenue declaration, and the capital statement. Those kinds of files hinge on the shoulders of your controller. This is a more expensive position to fill, as well as it needs to be. He or she requires to have a lot of experience, must at least a bachelor’s level in accountancy, otherwise getting involved in their master’s degree. I would certainly anticipate to pay anywhere from $45k to $85k/year for he or she. Currently we’re mosting likely to speak about the King or queen in addition to the mountain. This is your CFO. CFO stands for “chief financial officer.” They hold a C collection position in your business. He or she’s costly. You want to beware when you hire a CFO since not all CFOs are produced equal. Whatever up to this factor has actually been task-related, concentrating on just journal entrances and also debiting as well as crediting. When you enter a CFO function, this requires critical reasoning. Not all accounting professionals have that capacity. If they’re not able to see the big picture as well as create plans that are company development relevant, they aren’t gotten the job. They should translate the work that the rest of the group is doing into goals for your business. Your CFO requires to ensure that you’re striking 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 normally what I have actually seen across the country for someone of this caliber. Finally is the Certified Public Accountant. The CPA represents “certified public accountant.” If you’ve begun your business, you know that you require a tax obligation man, right? That’s the CPA. His work is to do 2 things. One is to prepare your tax strategy. That is to take every little thing you’re doing throughout the year and prepare it to ensure that you are not spending more than you require to on taxes. That’s the main goal. Nonetheless, a Certified Public Accountant frequently fills up the function of an auditor where they come in as an independent celebration. They ensure that your publications are precise and clean and reflective of what’s occurring in the real life. In terms of cost, you’re going to invest anywhere in between $125 a hr to upwards of $450 an hour for a qualified CPA.

Contact Us

(833) 319-0797