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Connecticut Cannabis Accounting

Puff Puff Accounting, serving Connecticut, 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.

Connecticut 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 definitely means to tackle your bookkeeping on your own and also Do It Yourself it. Choices like QuickBooks have made this feasible, but I advise you, if you are doing among these two things, you probably require to let somebody else look after it.

  1. If you are secretly wondering if you’re also doing this right in any way, that’s a warning.
  2. If you’re not doing it whatsoever because well you do not understand what to do and it’s frustrating, that’s a huge warning and it’s time to let an expert take control of.
What are common ways accountants bill their clients?
Some CPAs costs hourly, they charge you some dollars per hour relying on how much time they put in. It’s additionally usual to bill fixed fees for private projects. Your Certified Public Accountant may do your income tax return for one cost and prepare an additional estimate for the following job. Another popular cost framework is the yearly fixed price contract. Your Certified Public Accountant may say, “I’m going to provide this series of services to you, as well as I’m mosting likely to give you unrestricted phone calls and limitless meetings, and I’m mosting likely to do that all for $X quantity of bucks each year.” That dollar amount would certainly more than likely be billed monthly. We normally suggest partnerships which are not hourly. Repaired charge billing urges communication in between the client and also the CPA. The even more the Certified Public Accountant finds out about the customer’s company as well as their life and also what’s taking place, the far better guidance they can offer. When clients are uneasy with getting the phone, scared they’re going to get a huge expense, they are less most 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 expect from your Certified Public Accountant depends a great deal on your organisation objectives. If you’re a really small company and you’re not preparing to grow a lot in the future, maybe all you require is someone to prepare your income tax return. Nonetheless, perhaps you have a growing organisation. You require somebody who can consult with you on staff member issues, administration issues, accounting system established as well as layout. These are some things to think about when thinking of the level of dedication you need from your Certified Public Accountant. I normally trainer my customers to put together a wish list of things they desire from us. Obviously, the more commitment a customer requires from us, the bigger the interaction will certainly be, which will certainly boost expenses. Starting from the optimum and working down, though, is always the most effective wager. We can instructor you on which things on your shopping list will be one of the most impactful to your business as well as which ones may be lesser. So listing out those particular goals you wish to complete with your Certified Public Accountant. “This is what I desire out of that partnership.” Don’t hesitate to make that a quite long checklist. What you wish to do is pretend cash is no item. Listing whatever that you desire to leave this relationship. From that setting, you can start to prioritize that checklist and also say, “these 6 points 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 exactly how do you know who you need to work with? Should it be a bookkeeper, an accounting professional, or a CPA? What’s the difference? The most important thing is just that you know that these documents are being maintained which you feel great in the person maintaining them. A bookkeeper keeps your audit records. They get in all purchases, and also they balance your funds. Accounting professionals focus on funds, taxes, spending plans, service procedures, pay-roll, as well as money management. However understand this, there are various types of accounting professionals that specialize in various locations of service. Simply put, if you damage your leg, don’t most likely to the skin specialist. You want to see to it that you discover the best individual for your local business. Puff Puff Audit has bookkeepers and accountants on personnel. This way. When it comes to monthly deal processing, our accountants can do it for a lesser cost. When we’re speaking about money management and also tax planning, you have a CPA all set to step in.
What are the 5 types of accountants?
What is step leading of ending up being lucrative in your service? You’re mosting likely to need an accounting professional. Now you do not have to employ us. You can hire in residence. If you participate in house, who should you get? There are a great deal of options and also various spending plans out there that you need to be aware of. You don’t want to obtain the wrong individual for the wrong job summary. The initial individual you’re mosting likely to employ is your bookkeeper. This is the data access expert. Depending on where you live, you’re mosting likely to pay a various quantity for this person. If you stay in Idaho, as an example, you could be on the reduced end around 18 to $20,000 a year. Yet if you’re in New York City or The Golden State, you could be upwards of 40,000 or even $45,000 a year for the very same setting. Know that he or she offers a specific duty. They’re not mosting likely to be solid at creating records for you or working analytics or accounting procedures. Their task is to obtain data right into the system. And if you’re a brand-new business owner, likely, you have actually been doing this on your own. It’s clever to offload a few of the hefty dirty work of accountancy, which will allow you to start evaluating the records. An accountant is a great hire for anybody prepared to increase their organisation, but not prepared to purchase the high leading tier accountants just yet. The next degree up guys is the accounting professional. Currently, a great deal of people think bookkeepers as well as accountants are the same. They’re not. It’s really, really various. You’re mosting likely to pay a greater amount for somebody that’s an accounting professional. Your bookkeeper has been placing information into the system all month long. Your accounting professional usually is aiding to oversee that process. Then, at the end of the month, your accounting professional will do some of the more heavy training tasks which need integrating your trial balance and making month-end journal entrances. They will additionally do a few of the amassing job that’s mosting likely to need to occur in your financials. In some cases, an accountant will aid create economic statements. They go to that month’s end setting. For an accounting professional, depending again on where you live, you can anticipate to pay anywhere from perhaps $30k as much as $60k/year. The next degree up is the controller. The controller fills the procedure of supervising the whole accounting system. They reach manage what’s occurring and also when. They ensure the data is entering into the system on time, which the month and also general passions are taking place on schedule. The controller is in charge of the final product that’s coming out of the accountancy system. That is the annual report, the earnings statement, and the capital statement. Those kinds of papers hinge on the shoulders of your controller. This is a more pricey setting to fill, and it must be. This person requires to have a lot of experience, must at least a bachelor’s level in bookkeeping, if not entering into their master’s degree. I would certainly expect to pay anywhere from $45k to $85k/year for he or she. Now we’re going to discuss the King or queen on top of the mountain. This is your CFO. CFO means “chief financial officer.” They hold a C collection position in your company. He or she’s expensive. You wish to be careful when you employ a CFO because not all CFOs are produced equal. Everything approximately this factor has been task-related, concentrating on simply journal entries and debiting and also crediting. When you enter a CFO function, this requires strategic reasoning. Not all accountants have that capacity. If they’re not able to see the big picture and also produce plans that are service development related, they aren’t qualified for the task. They ought to equate the job that the rest of the group is doing into objectives for your firm. Your CFO requires to ensure that you’re hitting the targets you need 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 usually what I have actually seen nationwide for somebody of this caliber. Lastly is the CPA. The Certified Public Accountant represents “cpa.” If you’ve started your business, you understand that you need a tax person, right? That’s the Certified Public Accountant. His work is to do 2 things. One is to prepare your tax strategy. That is to take everything you’re doing throughout the year as well as prepare it so that you are not investing greater than you require to on tax obligations. That’s the primary objective. Nonetheless, a CPA often fills the duty of an auditor where they can be found in as an independent event. They make sure that your books are exact as well as tidy and also reflective of what’s happening in the real life. In regards to expense, you’re going to invest anywhere between $125 an hour to upwards of $450 an hour for a certified CPA.

Contact Us

(833) 319-0797