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Colorado Cannabis Accounting

Puff Puff Accounting, serving Colorado, 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.

Colorado 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 ways to take on your accountancy on your own and also Do It Yourself it. Options like QuickBooks have made this feasible, yet I advise you, if you are doing among these 2 things, you possibly require to allow another person care for it.

  1. If you are covertly wondering if you’re also doing this right whatsoever, that’s a warning.
  2. If you’re refraining from doing it in any way because well you don’t understand what to do as well as it’s frustrating, that’s a substantial warning as well as it’s time to let an expert take control of.
What are common ways accountants bill their clients?
Some CPAs bill hourly, they bill you some dollars per hour depending upon how much time they put in. It’s additionally common to bill taken care of fees for private jobs. Your CPA might do your tax return for one cost and prepare another price quote for the next task. Another popular cost structure is the annual set rate agreement. Your CPA could claim, “I’m mosting likely to give this variety of solutions to you, as well as I’m going to provide you unlimited telephone call and also unrestricted conferences, and also I’m going to do that all for $X quantity of dollars each year.” That dollar quantity would most likely be billed monthly. We normally advise connections which are not hourly. Fixed charge invoicing motivates interaction between the client as well as the Certified Public Accountant. The more the Certified Public Accountant understands about the customer’s service and their life and what’s taking place, the far better guidance they can provide. When clients are awkward with grabbing the phone, scared they’re going to get a huge expense, they are less likely to select the phone talk with their CPA when they have something on their mind.
What should I expect from my CPA?
What you should get out of your Certified Public Accountant depends a lot on your organisation goals. If you’re a very small business and also you’re not preparing to grow much in the near future, possibly all you require is somebody to prepare your tax return. Nevertheless, maybe you have an expanding company. You require someone who can talk to you on staff member matters, monitoring problems, accounting system established and style. These are some things to take into consideration when thinking of the level of dedication you require from your Certified Public Accountant. I typically trainer my customers to put together a wish list of points they want from us. Certainly, the even more dedication a customer requires from us, the bigger the interaction will certainly be, which will certainly boost prices. Starting from the optimum as well as working down, however, is constantly the most effective wager. We can trainer you on which products on your want list will certainly be the most impactful to your company as well as which ones could be less important. So checklist out those specific goals you wish to achieve with your CPA. “This is what I desire out of that connection.” Do not be afraid to make that a rather long list. What you intend to do is pretend cash is no object. Listing whatever that you desire to leave this relationship. From that position, you can begin to prioritize that listing as well as state, “these 6 things are crucial in this partnership that I’m mosting likely 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 an accountant, an accountant, or a CPA? What’s the difference? One of the most important thing is just that you understand that these records are being maintained and that you feel confident in the individual keeping them. An accountant keeps your accountancy records. They get in all purchases, and they stabilize your funds. Accounting professionals focus on financial resources, tax obligations, spending plans, service operations, pay-roll, as well as finance. However understand this, there are different kinds of accounting professionals that focus on different areas of company. In other words, if you break your leg, don’t go to the skin doctor. You wish to make sure that you discover the best person for your small business. Puff Puff Bookkeeping has accountants and accountants on team. This way. When it involves monthly transaction handling, our accountants can do it for a lower cost. When we’re speaking about finance and also tax planning, you have a CPA all set to step in.
What are the 5 types of accountants?
What is action primary of ending up being successful in your business? You’re mosting likely to require an accounting professional. Now you do not have to employ us. You can employ in residence. If you take part in residence, who should you get? There are a great deal of choices as well as several budget plans available that you need to be familiar with. You don’t intend to get the incorrect person for the wrong task summary. The first individual you’re mosting likely to employ is your accountant. This is the information entrance professional. Relying on where you live, you’re going to pay a various quantity for he or she. If you stay in Idaho, for instance, you could be on the reduced end around 18 to $20,000 a year. But if you’re in New York City or The Golden State, you could be upwards of 40,000 or perhaps $45,000 a year for the very same setting. Know that he or she offers a specific duty. They’re not going to be solid at creating records for you or working analytics or accounting processes. Their job is to get information right into the system. And also if you’re a brand-new business owner, likely, you have actually been doing this yourself. It’s smart to unload some of the heavy dirty work of accounting, which will certainly permit you to start examining the reports. An accountant is an excellent hire for any person ready to broaden their organisation, yet not prepared to buy the high top tier accountants right now. The following degree up individuals is the accountant. Now, a lot of individuals believe accountants and accounting professionals are the same. They’re not. It’s very, really different. You’re going to pay a greater amount for somebody that’s an accounting professional. Your bookkeeper has actually been putting data into the system all month long. Your accounting professional typically is aiding to supervise that procedure. After that, at the end of the month, your accounting professional will certainly do some of the more heavy lifting tasks which require reconciling your trial balance and also making month-end journal entrances. They will additionally do some of the accrual work that’s going to require to occur in your financials. In many cases, an accountant will certainly aid develop monetary statements. They are at that month’s end position. For an accountant, depending once more on where you live, you can expect to pay anywhere from perhaps $30k up to $60k/year. The next degree up is the controller. The controller fills the procedure of supervising the entire accounting system. They get to coordinate what’s happening as well as when. They make certain the data is getting into the system in a timely manner, which the month and also general rate of interests are taking place on time. The controller is accountable for the end product that’s appearing of the accounting system. That is the balance sheet, the earnings statement, and also the capital declaration. Those sort of documents rest on the shoulders of your controller. This is a more expensive setting to fill up, and it needs to be. He or she needs to have a great deal of experience, must a minimum of a bachelor’s level in audit, if not entering 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 discuss the King or queen in addition to the mountain. This is your CFO. CFO means “primary financial officer.” They hold a C suite setting in your business. He or she’s costly. You want to take care when you employ a CFO since not all CFOs are developed equal. Everything up to this point has been task-related, focusing on just journal entrances as well as debiting as well as crediting. When you step into a CFO function, this needs critical reasoning. Not all accounting professionals have that capacity. If they’re not able to see the big picture as well as create strategies that are service development relevant, they aren’t received the task. They should convert the job that the rest of the team is doing into goals for your firm. Your CFO requires to see to it 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 usually what I’ve seen nationwide for someone of this caliber. Lastly is the Certified Public Accountant. The Certified Public Accountant represents “certified public accountant.” If you’ve started your business, you know that you need a tax person, right? That’s the CPA. His work is to do two things. One is to prepare your tax obligation technique. That is to take whatever you’re doing throughout the year and prepare it to make sure that you are not spending greater than you require to on taxes. That’s the main objective. However, a Certified Public Accountant commonly loads the role of an auditor where they can be found in as an independent party. They make sure that your books are accurate as well as clean and also reflective of what’s happening in the real world. In regards to cost, you’re mosting likely to invest anywhere between $125 a hr to upwards of $450 a hr for a qualified CPA.

Contact Us

(833) 319-0797