Select Page

California Cannabis Accounting

Puff Puff Accounting, serving California, 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.

California 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 absolutely means to tackle your audit yourself as well as DIY it. Alternatives like QuickBooks have actually made this possible, but I alert you, if you are doing among these 2 things, you possibly require to allow someone else take care of it.

  1. If you are secretly wondering if you’re even doing this right whatsoever, that’s a warning.
  2. If you’re refraining it at all because well you don’t understand what to do as well as it’s frustrating, that’s a big red flag as well as it’s time to let an expert take control of.
What are common ways accountants bill their clients?
Some CPAs expense per hour, they bill you some bucks per hour depending on how much time they place in. It’s additionally typical to bill dealt with fees for specific projects. Your Certified Public Accountant could do your tax return for one rate and also prepare one more price quote for the following job. One more preferred price framework is the annual fixed price agreement. Your CPA may claim, “I’m mosting likely to give this range of solutions to you, and also I’m going to provide you limitless call and unlimited conferences, and I’m mosting likely to do that all for $X quantity of bucks annually.” That buck amount would more than likely be billed monthly.

We normally suggest partnerships which are not hourly. Taken care of charge billing encourages communication in between the customer as well as the Certified Public Accountant. The more the Certified Public Accountant finds out about the customer’s business and their life as well as what’s going on, the better recommendations they can give. When customers are uneasy with getting the phone, terrified they’re going to get a large bill, they are less most likely to select the phone talk to their Certified Public Accountant when they have something on their mind.

What should I expect from my CPA?
What you must anticipate from your CPA depends a whole lot on your business objectives. If you’re a very small company as well as you’re not intending to grow much in the near future, perhaps all you need is a person to prepare your tax return. Nevertheless, maybe you have a growing company. You require somebody who can seek advice from you on staff member issues, management concerns, accounting system established and also layout. These are some things to consider when thinking of the level of commitment you need from your Certified Public Accountant.

I normally train my clients to assemble a shopping list of things they want from us. Certainly, the even more dedication a customer needs from us, the larger the involvement will certainly be, which will certainly increase prices. Beginning with the optimum as well as functioning down, however, is constantly the very best bet. We can trainer you on which products on your want list will certainly be the most impactful to your service and also which ones could be less important.

So list out those specific purposes you want to accomplish with your CPA. “This is what I desire out of that relationship.” Don’t be afraid to make that a quite long listing. What you want to do is pretend cash is no things. Listing whatever that you desire to get out of this partnership. From that position, you can start to prioritize that checklist as well as claim, “these 6 things are most important in this connection that I’m mosting likely to have.”.

Do I need a bookkeeper or an accountant for my business?
So just how do you know who you need to employ? Should it be an accountant, an accounting professional, or a CPA? What’s the difference? The most important point is just that you recognize that these records are being kept and that you feel great in the individual maintaining them.

A bookkeeper keeps your bookkeeping records. They go into all purchases, as well as they stabilize your funds. Accountants specialize in funds, taxes, budget plans, company operations, pay-roll, and also finance. However recognize this, there are various types of accounting professionals that focus on numerous areas of organisation. To put it simply, if you break your leg, do not go to the skin doctor.

You intend to see to it that you discover the ideal individual for your small company. Smoke Smoke Bookkeeping has bookkeepers and also accountants on team. In this manner. When it concerns monthly purchase handling, our bookkeepers can do it for a lower fee. When we’re discussing finance and tax planning, you have a CPA all set to action in.

What are the 5 types of accountants?
What is step top of coming to be lucrative in your organisation? You’re going to require an accountant. Now you don’t have to employ us. You can employ in house. If you take part in house, that should you obtain? There are a lot of choices as well as many different budgets available that you need to be knowledgeable about. You do not wish to obtain the incorrect person for the wrong task summary.

The first person you’re mosting likely to work with is your bookkeeper. This is the information access expert. Depending on where you live, you’re going to pay a different quantity for he or she. If you live in Idaho, as an example, you might be on the lower end around 18 to $20,000 a year. Yet if you’re in New York City or California, you could be upwards of 40,000 or even $45,000 a year for the exact same placement. Know that this person serves a certain role. They’re not going to be solid at creating reports for you or working analytics or accounting processes. Their work is to get data into the system. As well as if you’re a new entrepreneur, likely, you’ve been doing this on your own. It’s wise to unload several of the hefty grunt work of accounting, which will certainly allow you to start assessing the records. A bookkeeper is a good hire for anyone all set to increase their company, yet not prepared to buy the high top rate accounting professionals just yet.

The next level up men is the accountant. Currently, a lot of people believe bookkeepers and accountants coincide. They’re not. It’s very, very various. You’re going to pay a higher quantity for someone that’s an accountant. Your bookkeeper has actually been putting information into the system all month long. Your accountant typically is aiding to look after that process. Then, at the end of the month, your accountant will do some of the more heavy training jobs which require integrating your test balance as well as making month-end journal entries. They will also do several of the amassing job that’s mosting likely to need to occur in your financials.

In many cases, an accountant will aid develop 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 following degree up is the controller. The controller fills the process of managing the whole accounting system. They get to manage what’s taking place and also when. They ensure the information is getting involved in the system on time, which the month as well as general passions are happening on time. The controller is responsible for the end product that’s coming out of the accountancy system. That is the balance sheet, the earnings declaration, and the capital statement. Those type of documents hinge on the shoulders of your controller. This is a much more pricey position to fill up, and it should be. He or she needs to have a great deal of experience, ought to at least a bachelor’s degree in accountancy, otherwise entering their master’s degree. I would certainly anticipate to pay anywhere from $45k to $85k/year for this person.

Currently we’re going to discuss the King or queen on top of the hill. This is your CFO. CFO stands for “primary financial officer.” They hold a C collection placement in your business. This person’s pricey. You wish to be careful when you employ a CFO because not all CFOs are produced equivalent. Whatever up to this point has actually been task-related, focusing on simply journal entries and also debiting and also crediting. When you enter a CFO duty, this needs strategic reasoning. Not all accountants have that ability. If they’re not able to see the big picture as well as develop plans that are service growth associated, they aren’t received the task. They should convert the work that the remainder of the group is doing into goals for your firm. Your CFO needs to make certain that you’re striking the targets you need to hit with the correct amount of money behind each objective. For a CFO, you can anticipate to pay anywhere from $75k to $250k/year. That is typically what I have actually seen nationwide for somebody of this caliber.

Finally is the Certified Public Accountant. The CPA stands for “state-licensed accountant.” If you’ve started your company, you recognize that you need a tax guy, right? That’s the Certified Public Accountant. His task is to do 2 things. One is to prepare your tax approach. That is to take every little thing you’re doing throughout the year and prepare it to ensure that you are not spending greater than you require to on taxes. That’s the major objective. Nevertheless, a CPA frequently fills up the duty of an auditor where they come in as an independent celebration. They ensure that your publications are precise and also clean as well as reflective of what’s occurring in the real world. In terms of cost, you’re mosting likely to spend anywhere in between $125 a hr to upwards of $450 a hr for a certified Certified Public Accountant.

Contact Us

(844) 382-8160