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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

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.

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

Frequently Asked

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

There are absolutely ways to take on your bookkeeping on your own as well as Do It Yourself it. Choices like QuickBooks have made this possible, but I warn you, if you are doing one of these 2 points, you possibly need to allow someone else look after it.

  1. If you are privately questioning if you’re also doing this right whatsoever, that’s a red flag.
  2. If you’re refraining from doing it at all because well you do not know what to do and it’s frustrating, that’s a huge red flag as well as it’s time to allow a specialist take over.
What are common ways accountants bill their clients?
Some Certified public accountants bill per hour, they bill you some dollars per hr relying on how much time they place in. It’s likewise common to charge fixed fees for specific jobs. Your CPA may do your tax return for one cost and also prepare another price quote for the next project. An additional preferred rate structure is the annual fixed cost agreement. Your Certified Public Accountant might claim, “I’m going to give this variety of solutions to you, as well as I’m mosting likely to provide you endless call and unrestricted meetings, as well as I’m going to do that all for $X amount of dollars per year.” That buck amount would most likely be billed monthly. We commonly recommend connections which are not hourly. Taken care of cost payment encourages communication in between the client and also the Certified Public Accountant. The even more the CPA understands about the client’s organisation and also their life as well as what’s taking place, the far better suggestions they can offer. When clients are uncomfortable with getting the phone, terrified they’re going to get a huge bill, they are much less likely to choose the phone talk with their CPA when they have something on their mind.
What should I expect from my CPA?
What you should anticipate from your Certified Public Accountant depends a great deal on your business purposes. If you’re an extremely local business and you’re not intending to grow much in the future, possibly all you need is a person to prepare your tax return. Nonetheless, probably you have an expanding company. You require someone that can consult with you on employee issues, management issues, accounting system set up as well as design. These are some points to take into consideration when thinking of the degree of commitment you need from your CPA. I normally trainer my customers to put together a shopping list of things they want from us. Naturally, the even more commitment a customer needs from us, the bigger the involvement will be, which will certainly raise prices. Starting from the optimum and working down, though, is always the best bet. We can coach you on which things on your wish list will certainly be the most impactful to your service and also which ones could be less important. So listing out those particular goals you want to accomplish with your CPA. “This is what I desire out of that relationship.” Don’t hesitate to make that a rather lengthy listing. What you wish to do is pretend money is no item. Listing every little thing that you desire to get out of this partnership. From that placement, you can begin to prioritize that listing and also claim, “these six points are essential in this relationship 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 work with? Should it be an accountant, an accounting professional, or a Certified Public Accountant? What’s the difference? One of the most vital point is simply that you know that these documents are being maintained which you feel great in the individual keeping them. An accountant preserves your bookkeeping records. They enter all purchases, as well as they stabilize your funds. Accountants concentrate on financial resources, taxes, spending plans, organisation operations, pay-roll, and money management. But know this, there are different types of accountants that specialize in numerous areas of company. To put it simply, if you break your leg, don’t go to the skin specialist. You wish to make sure that you discover the appropriate individual for your small company. Puff Puff Accounting has accountants as well as accountants on team. This way. When it pertains to monthly purchase handling, our bookkeepers can do it for a lesser charge. When we’re talking about finance and tax obligation planning, you have a Certified Public Accountant ready to action in.
What are the 5 types of accountants?
What is step number one of ending up being successful in your organisation? You’re mosting likely to need an accountant. Now you do not need to employ us. You can employ in home. If you take part in house, that should you get? There are a lot of choices as well as several budgets out there that you require to be aware of. You do not want to get the wrong person for the incorrect job description. The initial person you’re going to employ is your accountant. This is the information entrance specialist. Relying on where you live, you’re mosting likely to pay a different amount for he or she. If you stay in Idaho, as an example, you might be on the lower end around 18 to $20,000 a year. However if you remain in New York or The Golden State, you could be upwards of 40,000 or even $45,000 a year for the same placement. Know that he or she offers a specific function. They’re not mosting likely to be strong at producing records for you or working analytics or accounting procedures. Their task is to get information right into the system. And also if you’re a new entrepreneur, likely, you have actually been doing this yourself. It’s clever to offload several of the hefty dirty work of accountancy, which will permit you to start assessing the reports. A bookkeeper is an excellent hire for anyone all set to broaden their company, yet not prepared to purchase the high top tier accounting professionals just yet. The next level up guys is the accountant. Now, a great deal of people believe accountants and accountants coincide. They’re not. It’s really, extremely various. You’re going to pay a higher quantity for somebody that’s an accounting professional. Your accountant has been putting information into the system all month long. Your accountant normally is helping to look after that procedure. Then, at the end of the month, your accounting professional will do a few of the even more heavy training tasks which require reconciling your test balance as well as making month-end journal access. They will additionally do a few of the amassing job that’s going to require to happen in your financials. Sometimes, an accounting professional will certainly aid develop financial declarations. They are at that month’s end setting. For an accountant, depending again on where you live, you can anticipate to pay anywhere from possibly $30k up to $60k/year. The following level up is the controller. The controller fills the procedure of managing the whole accounting system. They get to manage what’s happening as well as when. They see to it the data is getting into the system on time, and that the month as well as basic rate of interests are occurring on time. The controller is responsible for the final product that’s appearing of the accountancy system. That is the annual report, the earnings statement, and the cash flow declaration. Those sort of records hinge on the shoulders of your controller. This is an extra pricey placement to fill up, as well as it must be. This person needs to have a great deal of experience, should at least a bachelor’s degree in bookkeeping, if not entering their master’s level. 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 means “chief financial officer.” They hold a C suite position in your business. This person’s expensive. You intend to take care when you employ a CFO due to the fact that not all CFOs are developed equivalent. Everything approximately this point has actually been task-related, focusing on just journal access as well as debiting and also crediting. When you step into a CFO role, this calls for strategic thinking. Not all accountants have that capability. If they’re unable to see the big picture and also produce plans that are organisation growth relevant, they aren’t qualified for the work. They ought to equate the work that the remainder 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 correct amount of money behind each goal. For a CFO, you can anticipate to pay anywhere from $75k to $250k/year. That is commonly what I have actually seen nationwide for somebody of this quality. Lastly is the CPA. The CPA stands for “certified public accountant.” If you’ve begun your business, you understand that you require a tax individual, right? That’s the Certified Public Accountant. His task is to do 2 points. One is to prepare your tax obligation approach. That is to take whatever you’re doing throughout the year and prepare it so that you are not spending greater than you need to on taxes. That’s the major goal. However, a Certified Public Accountant often loads the function of an auditor where they can be found in as an independent celebration. They make sure that your books are accurate as well as tidy and reflective of what’s taking place in the real world. In terms of expense, you’re mosting likely to spend anywhere in between $125 an hour to upwards of $450 a hr for a certified CPA.

Contact Us

(833) 319-0797