Select Page

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.

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.

R

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.
R

We're Affordable

When we work with small cannabis businesses, basically we become their affordable in house CFO.
R

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.

%

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.
n

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

[email protected]

Frequently Asked

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

There are definitely means to tackle your accountancy yourself as well as DIY it. Choices like QuickBooks have made this feasible, however I advise you, if you are doing one of these 2 points, you possibly need to allow someone else care for it.

  1. If you are privately questioning if you’re also 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 recognize what to do and it’s overwhelming, that’s a massive red flag and it’s time to let a specialist take control of.
What are common ways accountants bill their clients?
Some CPAs expense per hour, they bill you some dollars per hour depending on just how much time they place in. It’s also typical to charge taken care of costs for private jobs. Your Certified Public Accountant could do your income tax return for one rate and also prepare one more estimate for the following task. Another prominent rate structure is the annual set cost contract. Your Certified Public Accountant could say, “I’m going to provide this variety of solutions to you, and I’m going to provide you limitless phone calls and unrestricted meetings, and also I’m mosting likely to do that all for $X quantity of bucks each year.” That dollar amount would certainly most likely be billed monthly.

We normally recommend relationships which are not per hour. Repaired fee invoicing urges communication between the customer as well as the Certified Public Accountant. The more the Certified Public Accountant learns about the customer’s business as well as their life and what’s taking place, the far better recommendations they can provide. When customers are awkward with picking up the phone, scared they’re going to get a huge expense, they are less likely to pick the phone speak with their Certified Public Accountant when they have something on their mind.

What should I expect from my CPA?
What you should anticipate from your CPA depends a great deal on your company goals. If you’re a very small company and also you’re not intending to expand much in the near future, maybe all you need is somebody to prepare your income tax return. Nonetheless, perhaps you have a growing service. You need somebody that can speak with you on employee issues, management concerns, accounting system set up and design. These are some points to consider when thinking of the degree of dedication you require from your CPA.

I generally train my customers to assemble a wish list of things they desire from us. Certainly, the even more dedication a client needs from us, the bigger the involvement will certainly be, which will enhance expenses. Starting from the maximum and functioning down, however, is always the very best bet. We can trainer you on which products on your shopping list will be the most impactful to your business and also which ones may be less important.

So listing out those certain purposes you intend to achieve with your CPA. “This is what I want out of that partnership.” Do not hesitate to make that a pretty long listing. What you want to do is pretend cash is no item. List everything that you desire to leave this relationship. From that setting, you can begin to focus on that list and state, “these 6 things are crucial 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 need to employ? Should it be a bookkeeper, an accounting professional, or a Certified Public Accountant? What’s the difference? One of the most crucial thing is simply that you know that these records are being kept which you feel confident in the person keeping them.

A bookkeeper preserves your bookkeeping documents. They enter all purchases, as well as they balance your funds. Accounting professionals concentrate on financial resources, tax obligations, budget plans, business procedures, payroll, and finance. Yet recognize this, there are various kinds of accounting professionals that specialize in different locations of company. Simply put, if you break your leg, do not go to the skin doctor.

You want to see to it that you locate the ideal individual for your small company. Puff Puff Audit has bookkeepers and also accountants on team. This way. When it involves month-to-month deal processing, our bookkeepers can do it for a lesser cost. When we’re talking about money management and also tax obligation planning, you have a CPA ready to step in.

What are the 5 types of accountants?
What is step top of ending up being rewarding in your service? You’re mosting likely to need an accountant. Currently you don’t need to hire us. You can work with in home. If you engage in house, who should you get? There are a lot of choices and many different budget plans around that you require to be familiar with. You do not want to obtain the incorrect individual for the incorrect job description.

The very first person you’re mosting likely to work with is your bookkeeper. This is the information entrance expert. Depending upon where you live, you’re going to pay a different amount for this person. If you stay in Idaho, for instance, you might be on the lower 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 very same setting. Know that he or she serves a details role. They’re not going to be solid at producing 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 business owner, likely, you’ve been doing this on your own. It’s clever to unload some of the heavy grunt work of accounting, which will enable you to begin assessing the reports. An accountant is a good hire for anyone prepared to increase their service, however not prepared to invest in the high top rate accounting professionals just yet.

The following level up guys is the accounting professional. Now, a great deal of individuals assume bookkeepers and also accounting professionals are the same. They’re not. It’s very, really various. You’re mosting likely to pay a greater quantity for someone that’s an accounting professional. Your bookkeeper has been putting information right into the system all month long. Your accounting professional usually is helping to manage that process. After that, at the end of the month, your accountant will do several of the even more hefty training tasks which require reconciling your test equilibrium and also making month-end journal entrances. They will additionally do several of the amassing work that’s going to require to occur in your financials.

In some cases, an accounting professional will certainly assist produce financial declarations. They are at that month’s end placement. For an accountant, depending again on where you live, you can expect to pay anywhere from maybe $30k up to $60k/year.

The following level up is the controller. The controller loads the procedure of supervising the whole accounting system. They get to coordinate what’s happening and when. They ensure the data is entering into the system promptly, and that the month and general rate of interests are occurring promptly. The controller is accountable for the final product that’s appearing of the bookkeeping system. That is the balance sheet, the income statement, and the capital declaration. Those kinds of files hinge on the shoulders of your controller. This is a much more pricey position to fill, as well as it ought to be. He or she needs to have a lot of experience, should a minimum of a bachelor’s degree in accountancy, otherwise entering into their master’s level. I would expect to pay anywhere from $45k to $85k/year for this person.

Currently we’re going to speak about the King or queen in addition to the hill. This is your CFO. CFO represents “chief financial officer.” They hold a C collection placement in your firm. He or she’s expensive. You want to beware when you hire a CFO due to the fact that not all CFOs are produced equal. Everything approximately this factor has actually been task-related, concentrating on simply journal entries and debiting and also attributing. When you enter a CFO role, this needs calculated reasoning. Not all accounting professionals have that capacity. If they’re not able to see the big picture and create strategies that are service advancement related, they aren’t received the work. They should translate the work that the rest of the group is doing into goals for your firm. Your CFO requires to make sure that you’re striking the targets you require to hit with the right amount of money behind each goal. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is normally what I have actually seen nationwide for somebody of this quality.

Lastly is the CPA. The CPA means “certified public accountant.” If you’ve started your business, you know that you require a tax obligation man, right? That’s the Certified Public Accountant. His task is to do two points. One is to prepare your tax obligation technique. That is to take whatever you’re doing throughout the year and also prepare it to make sure that you are not spending more than you require to on taxes. That’s the major goal. Nevertheless, a CPA frequently fills up the role of an auditor where they can be found in as an independent event. They make certain that your books are exact and tidy and reflective of what’s happening in the real world. In terms of expense, you’re going to spend anywhere in between $125 a hr to upwards of $450 an hour for a certified Certified Public Accountant.

Contact Us

(844) 382-8160