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Arkansas Cannabis Accounting

Puff Puff Accounting, serving Arkansas, 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

Free 15 Minute Consult - (833) 319-0797

Get A Free Online Consultation

Have burning questions you need to get answered? Take advantage of our free half 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.

Arkansas 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.

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Frequently Asked

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

There are certainly means to handle your audit on your own and also DIY it. Options like QuickBooks have actually made this feasible, however I caution you, if you are doing among these 2 things, you most likely require to let another person look after it.

  1. If you are secretly questioning if you’re also doing this right in all, that’s a warning.
  2. If you’re not doing it in all because well you don’t know what to do and it’s frustrating, that’s a huge warning as well as it’s time to let a professional take over.
What are common ways accountants bill their clients?
Some Certified public accountants bill per hour, they charge you some bucks per hour depending on how much time they place in. It’s additionally usual to bill repaired costs for private jobs. Your CPA might do your income tax return for one rate as well as prepare one more estimate for the next job. Another prominent price framework is the yearly set cost contract. Your CPA might say, “I’m mosting likely to supply this series of solutions to you, and I’m going to provide you unrestricted telephone call and also unlimited meetings, and I’m going to do that all for $X quantity of dollars each year.” That buck amount would certainly most likely be billed monthly. We generally recommend relationships which are not hourly. Taken care of cost payment encourages communication between the customer and the CPA. The more the Certified Public Accountant understands about the customer’s organisation and also their life and also what’s going on, the far better suggestions they can give. When customers are uneasy with picking up the phone, afraid they’re going to get a big bill, they are much less most likely to choose the phone speak with their CPA when they have something on their mind.
What should I expect from my CPA?
What you need to anticipate from your CPA depends a great deal on your service goals. If you’re a really local business and you’re not planning to expand much in the future, maybe all you require is a person to prepare your income tax return. Nonetheless, possibly you have an expanding organisation. You require a person who can speak with you on staff member matters, administration concerns, accounting system established as well as design. These are some things to think about when thinking of the level of commitment you require from your CPA. I commonly coach my customers to assemble a wish list of points they desire from us. Obviously, the even more commitment a client needs from us, the bigger the engagement will be, which will certainly raise expenses. Starting from the optimum and also working down, however, is constantly the most effective bet. We can coach you on which things on your want list will be one of the most impactful to your service as well as which ones may be lesser. So checklist out those particular goals you intend to achieve with your Certified Public Accountant. “This is what I desire out of that relationship.” Don’t hesitate to make that a pretty long listing. What you wish to do is pretend money is no item. Listing everything that you wish to leave this partnership. From that position, you can begin to prioritize that checklist and state, “these 6 points are most important in this relationship that I’m mosting likely 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 a bookkeeper, an accounting professional, or a CPA? What’s the difference? The most essential point is simply that you recognize that these records are being kept which you feel confident in the person maintaining them. An accountant preserves your audit records. They enter all purchases, as well as they balance your funds. Accountants specialize in funds, tax obligations, spending plans, business procedures, pay-roll, and money management. Yet recognize this, there are different sorts of accountants who concentrate on different areas of organisation. In other words, if you break your leg, don’t go to the skin doctor. You want to see to it that you locate the best individual for your small business. Smoke Smoke Audit has accountants and also accountants on team. By doing this. When it involves regular monthly deal processing, our accountants can do it for a lesser charge. When we’re speaking about money management and tax planning, you have a CPA prepared to action in.
What are the 5 types of accountants?
What is step number one of ending up being lucrative in your organisation? You’re mosting likely to need an accountant. Currently you do not need to hire us. You can work with in house. If you take part in residence, who should you get? There are a great deal of alternatives as well as several spending plans around that you require to be knowledgeable about. You do not want to obtain the incorrect person for the incorrect work summary. The very first individual you’re going to work with is your accountant. This is the data entry specialist. Depending upon where you live, you’re mosting likely to pay a different quantity for this person. If you reside in Idaho, as an example, you might be on the reduced end around 18 to $20,000 a year. However if you’re in New York or California, you could be upwards of 40,000 and even $45,000 a year for the very same position. Know that this person offers a particular role. They’re not going to be solid at developing records for you or doing business analytics or accounting procedures. Their work is to obtain information right into the system. As well as if you’re a new entrepreneur, likely, you have actually been doing this yourself. It’s smart to offload some of the heavy dirty work of audit, which will enable you to start analyzing the records. A bookkeeper is an excellent hire for anyone prepared to expand their service, however not prepared to purchase the high top rate accountants right now. The following level up men is the accountant. Now, a lot of individuals believe accountants and also accounting professionals coincide. They’re not. It’s extremely, extremely various. You’re mosting likely to pay a greater amount for someone that’s an accountant. Your accountant has been putting data into the system all month long. Your accounting professional commonly is assisting to look after that procedure. Then, at the end of the month, your accounting professional will certainly do a few of the more heavy training jobs which call for integrating your trial equilibrium and making month-end journal entrances. They will certainly likewise do some of the amassing job that’s going to require to occur in your financials. Sometimes, an accounting professional will certainly aid create economic declarations. They are at that month’s end placement. For an accounting professional, depending again on where you live, you can anticipate to pay anywhere from perhaps $30k approximately $60k/year. The following degree up is the controller. The controller loads the process of managing the entire accounting system. They reach manage what’s taking place and also when. They make sure the information is entering into the system in a timely manner, and that the month and general passions are occurring on time. The controller is responsible for the end product that’s appearing of the accounting system. That is the balance sheet, the earnings statement, and also the capital statement. Those kinds of files hinge on the shoulders of your controller. This is an extra pricey position to fill, as well as it ought to be. He or she needs to have a great deal of experience, ought to a minimum of a bachelor’s level in bookkeeping, otherwise entering their master’s level. I would expect to pay anywhere from $45k to $85k/year for he or she. Currently we’re going to discuss the King or queen in addition to the hill. This is your CFO. CFO means “primary financial officer.” They hold a C suite setting in your business. He or she’s expensive. You want to take care when you employ a CFO since not all CFOs are produced equal. Everything approximately this factor has been task-related, focusing on simply journal entrances and also debiting and crediting. When you step into a CFO duty, this calls for critical reasoning. Not all accountants have that capability. If they’re unable to see the big picture as well as create plans that are organisation advancement associated, they aren’t received the task. They should convert the job that the remainder of the team is doing into goals for your business. Your CFO needs to make sure that you’re hitting the targets you require to hit with the correct amount of cash behind each objective. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is usually what I’ve seen nationwide for somebody of this quality. Lastly is the CPA. The CPA stands for “cpa.” If you’ve started your business, you understand that you need a tax obligation person, right? That’s the Certified Public Accountant. His work is to do two points. One is to prepare your tax approach. That is to take everything you’re doing throughout the year and prepare it so that you are not investing more than you need to on tax obligations. That’s the major goal. Nevertheless, a Certified Public Accountant typically fills up the role of an auditor where they are available in as an independent party. They make certain that your books are precise and also clean and reflective of what’s taking place in the real life. In terms of cost, you’re mosting likely to spend anywhere between $125 a hr to upwards of $450 an hour for a certified CPA.

Contact Us

(833) 319-0797