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Delaware Cannabis Accounting

Puff Puff Accounting, serving Delaware, 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.

Delaware 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 audit on your own and also Do It Yourself it. Alternatives like QuickBooks have actually made this feasible, but I advise you, if you are doing among these 2 things, you probably need to let somebody else look after it.

  1. If you are secretly wondering if you’re also doing this right in all, that’s a warning.
  2. If you’re not doing it at all because well you don’t know what to do as well as it’s frustrating, that’s a big red flag and it’s time to allow a professional take control of.
What are common ways accountants bill their clients?
Some CPAs costs hourly, they charge you some bucks per hr relying on just how much time they place in. It’s additionally typical to charge dealt with fees for individual tasks. Your CPA might do your income tax return for one cost as well as prepare another quote for the following task. Another preferred cost framework is the annual set cost agreement. Your CPA might state, “I’m going to provide this series of solutions to you, and also I’m mosting likely to offer you unlimited phone calls and also unlimited meetings, as well as I’m mosting likely to do that all for $X quantity of bucks each year.” That dollar amount would most likely be billed monthly. We generally advise relationships which are not hourly. Repaired cost invoicing encourages communication between the customer as well as the CPA. The more the CPA finds out about the client’s organisation and their life as well as what’s going on, the better advice they can offer. When clients are uneasy with grabbing the phone, afraid they’re going to get a large bill, they are much less likely to pick the phone speak with their CPA when they have something on their mind.
What should I expect from my CPA?
What you ought to expect from your Certified Public Accountant depends a whole lot on your service purposes. If you’re a very small business as well as you’re not intending to expand much in the near future, possibly all you need is a person to prepare your income tax return. However, possibly you have a growing business. You need a person who can speak with you on worker issues, administration issues, accounting system set up as well as style. These are some things to consider when envisioning the level of dedication you need from your Certified Public Accountant. I generally coach my clients to assemble a shopping list of things they want from us. Of course, the more dedication a customer needs from us, the bigger the engagement will certainly be, which will enhance costs. Starting from the optimum and also working down, though, is always the best bet. We can instructor you on which items on your shopping list will be one of the most impactful to your company as well as which ones might be less important. So listing out those certain purposes you want to accomplish with your Certified Public Accountant. “This is what I desire out of that relationship.” Don’t be afraid to make that a pretty lengthy list. What you want to do is pretend money is no item. Checklist every little thing that you want to get out of this partnership. From that placement, you can start to focus on that listing and also say, “these six points are most important in this partnership that I’m going to have.”.
Do I need a bookkeeper or an accountant for my business?
So just how do you know who you require to work with? Should it be a bookkeeper, an accounting professional, or a CPA? What’s the distinction? One of the most crucial thing is just that you know that these documents are being maintained and that you feel great in the person maintaining them. An accountant preserves your audit records. They get in all deals, and they stabilize your funds. Accountants focus on financial resources, tax obligations, budgets, organisation procedures, payroll, as well as finance. Yet recognize this, there are different types of accounting professionals who focus on numerous locations of service. To put it simply, if you break your leg, do not go to the skin doctor. You want to make certain that you discover the ideal person for your local business. Smoke Smoke Bookkeeping has accountants and also accounting professionals on staff. By doing this. When it comes to month-to-month deal handling, our bookkeepers can do it for a lower charge. When we’re discussing money management as well as tax obligation preparation, you have a CPA all set to action in.
What are the 5 types of accountants?
What is step leading of coming to be rewarding in your service? You’re mosting likely to require an accounting professional. Currently you do not have to employ us. You can hire in house. If you engage in home, that should you obtain? There are a great deal of choices and many different spending plans around that you require to be aware of. You do not wish to obtain the wrong individual for the incorrect task summary. The initial individual you’re mosting likely to hire is your accountant. This is the data entry specialist. Relying on where you live, you’re mosting likely to pay a various amount 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 or The Golden State, you could be upwards of 40,000 or perhaps $45,000 a year for the exact same placement. Know that this person offers a details duty. They’re not going to be strong at creating records for you or working analytics or accounting procedures. Their task is to get information into the system. And if you’re a brand-new business owner, likely, you have actually been doing this yourself. It’s smart to unload several of the heavy dirty work of accountancy, which will certainly allow you to start analyzing the records. A bookkeeper is a great hire for anybody ready to broaden their business, yet not prepared to purchase the high top rate accountants right now. The following degree up guys is the accountant. Now, a lot of individuals believe bookkeepers and accounting professionals coincide. They’re not. It’s very, really various. You’re mosting likely to pay a greater amount for somebody that’s an accounting professional. Your accountant has been placing information right into the system all month long. Your accounting professional normally is helping to oversee that process. After that, at the end of the month, your accounting professional will certainly do a few of the more heavy training jobs which require reconciling your test equilibrium as well as making month-end journal access. They will certainly likewise do a few of the amassing work that’s mosting likely to require to occur in your financials. Sometimes, an accounting professional will help produce 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 approximately $60k/year. The next level up is the controller. The controller loads the procedure of looking after the entire audit system. They get to manage what’s taking place and also when. They make certain the information is getting involved in the system on schedule, and that the month and general rate of interests are taking place in a timely manner. The controller is in charge of the end product that’s coming out of the accountancy system. That is the annual report, the earnings declaration, and also the capital statement. Those type of papers hinge on the shoulders of your controller. This is a much more pricey placement to load, and it needs to be. This person requires to have a lot of experience, need to at least a bachelor’s level in accountancy, if not getting involved in their master’s level. I would certainly expect 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 “chief financial officer.” They hold a C collection position in your firm. He or she’s pricey. You wish to be careful when you work with a CFO due to the fact that not all CFOs are produced equal. Everything approximately this point has been task-related, concentrating on just journal access and debiting and also attributing. When you enter a CFO role, this needs tactical reasoning. Not all accounting professionals have that capacity. If they’re not able to see the big picture as well as produce plans that are business growth relevant, they aren’t qualified for the work. They need to convert the work that the rest of the group is doing into goals for your firm. Your CFO needs to ensure that you’re striking the targets you require to hit with the correct amount of cash behind each objective. 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 quality. Last but not least is the Certified Public Accountant. The CPA stands for “state-licensed accountant.” If you’ve begun your company, you know that you need a tax obligation man, 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 every little thing you’re doing throughout the year and also prepare it to ensure that you are not investing more than you require to on taxes. That’s the main objective. Nevertheless, a CPA commonly loads the role of an auditor where they come in as an independent party. They see to it that your publications are exact and also clean and also reflective of what’s occurring in the real world. In regards to price, you’re going to invest anywhere in between $125 an hour to upwards of $450 an hour for a qualified Certified Public Accountant.

Contact Us

(833) 319-0797