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Florida Cannabis Accounting

Puff Puff Accounting, serving Florida, 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.

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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

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.

Florida 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 absolutely methods to tackle your accountancy on your own as well as DIY it. Alternatives like QuickBooks have made this possible, but I warn you, if you are doing one of these two points, you most likely require to let somebody else take care of it.

  1. If you are privately asking yourself if you’re also doing this right at all, that’s a red flag.
  2. If you’re not doing it in all because well you don’t know what to do and it’s overwhelming, that’s a huge red flag and also it’s time to allow a professional take over.
What are common ways accountants bill their clients?
Some Certified public accountants costs hourly, they charge you some bucks per hr relying on just how much time they place in. It’s likewise common to bill repaired charges for private jobs. Your Certified Public Accountant may do your tax return for one price as well as prepare an additional price quote for the next task. One more popular cost framework is the annual fixed cost agreement. Your CPA might say, “I’m going to provide this range of services to you, and also I’m mosting likely to give you unlimited phone calls and endless conferences, as well as I’m going to do that all for $X amount of bucks per year.” That dollar quantity would certainly more than likely be billed monthly.

We generally suggest partnerships which are not hourly. Fixed fee payment encourages interaction in between the customer as well as the Certified Public Accountant. The more the Certified Public Accountant knows about the client’s business and also their life as well as what’s taking place, the much better guidance they can provide. When customers are awkward with getting the phone, scared they’re going to get a big costs, they are much less likely to select the phone speak to their Certified Public Accountant when they have something on their mind.

What should I expect from my CPA?
What you ought to get out of your CPA depends a whole lot on your organisation goals. If you’re a very local business and also you’re not intending to grow a lot in the near future, possibly all you require is somebody to prepare your tax return. Nevertheless, probably you have an expanding service. You need a person that can speak with you on employee matters, administration issues, accounting system established and style. These are some things to consider when thinking of the degree of dedication you require from your Certified Public Accountant.

I typically instructor my customers to put together a shopping list of points they desire from us. Certainly, the even more commitment a client requires from us, the larger the interaction will certainly be, which will raise expenses. Starting from the optimum and also functioning down, though, is constantly the best wager. We can trainer you on which products on your wish list will be the most impactful to your service and also which ones may be lesser.

So listing out those specific purposes you wish to complete with your Certified Public Accountant. “This is what I want out of that relationship.” Don’t hesitate to make that a pretty long list. What you intend to do is pretend money is no object. Checklist whatever that you want to get out of this connection. From that position, you can start to prioritize that list as well as state, “these 6 things are essential in this connection 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 need to hire? Should it be a bookkeeper, an accountant, or a Certified Public Accountant? What’s the difference? One of the most important point is just that you understand that these records are being kept and that you feel confident in the individual maintaining them.

An accountant preserves your accounting records. They get in all purchases, as well as they stabilize your funds. Accountants focus on financial resources, tax obligations, spending plans, company procedures, pay-roll, and money management. Yet recognize this, there are different types of accountants that focus on various areas of organisation. To put it simply, if you break your leg, do not go to the skin specialist.

You wish to make certain that you discover the appropriate person for your small company. Smoke Smoke Bookkeeping has bookkeepers as well as accountants on staff. This way. When it involves regular monthly deal processing, our accountants can do it for a lesser fee. When we’re talking about money management as well as tax preparation, you have a Certified Public Accountant prepared to step in.

What are the 5 types of accountants?
What is action number one of coming to be lucrative in your organisation? You’re going to require an accountant. Currently you do not need to hire us. You can employ in residence. If you engage in house, that should you obtain? There are a lot of alternatives as well as several budgets available that you need to be aware of. You don’t wish to get the incorrect person for the incorrect task description.

The very first individual you’re going to employ is your accountant. This is the data entry expert. 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 may be on the lower end around 18 to $20,000 a year. But if you’re in New York or The Golden State, you could be upwards of 40,000 or even $45,000 a year for the exact same position. Know that he or she offers a specific function. They’re not mosting likely to be strong at producing reports for you or operating analytics or accounting processes. Their work is to get data into the system. And also if you’re a new entrepreneur, likely, you’ve been doing this yourself. It’s smart to offload some of the heavy grunt work of audit, which will certainly permit you to start evaluating the records. A bookkeeper is an excellent hire for anybody all set to increase their business, yet not prepared to purchase the high top rate accounting professionals right now.

The following level up men is the accountant. Currently, a lot of people think bookkeepers and also accountants are the same. They’re not. It’s very, extremely different. You’re going to pay a greater amount for somebody that’s an accountant. Your accountant has been putting information into the system all month long. Your accounting professional commonly is assisting to oversee that procedure. After that, at the end of the month, your accountant will certainly do a few of the even more heavy training tasks which call for integrating your test balance and making month-end journal entrances. They will likewise do several of the amassing job that’s going to require to occur in your financials.

In many cases, an accountant will help produce economic declarations. They are at that month’s end position. For an accountant, depending again on where you live, you can expect to pay anywhere from maybe $30k up to $60k/year.

The next level up is the controller. The controller fills up the procedure of managing the whole audit system. They get to manage what’s happening and also when. They see to it the data is getting involved in the system in a timely manner, and that the month and general interests are taking place on time. The controller is in charge of the end product that’s appearing of the accounting system. That is the annual report, the income declaration, as well as the capital declaration. Those type of files rest on the shoulders of your controller. This is an extra costly placement to fill, and also it ought to be. This person needs to have a great deal of experience, should at the very least a bachelor’s degree in audit, if not entering into their master’s degree. I would expect to pay anywhere from $45k to $85k/year for he or she.

Currently we’re going to discuss the King or queen on top of the hill. This is your CFO. CFO represents “primary financial officer.” They hold a C collection setting in your business. He or she’s pricey. You intend to beware when you employ a CFO due to the fact that not all CFOs are developed equal. Every little thing approximately this factor has actually been task-related, concentrating on just journal entrances as well as debiting and attributing. When you step into a CFO duty, this needs critical 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 advancement relevant, they aren’t qualified for the job. They must translate the work that the remainder of the team is doing into objectives for your business. Your CFO requires to make certain that you’re hitting the targets you require to hit with the correct amount of money behind each objective. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is typically what I have actually seen nationwide for somebody of this caliber.

Lastly is the Certified Public Accountant. The Certified Public Accountant stands for “cpa.” If you’ve begun your firm, you understand that you require a tax guy, right? That’s the Certified Public Accountant. His work is to do two points. One is to prepare your tax approach. That is to take whatever you’re doing throughout the year and prepare it to make sure that you are not investing more than you need to on tax obligations. That’s the major goal. Nonetheless, a Certified Public Accountant usually fills up the duty of an auditor where they can be found in as an independent celebration. They make certain that your publications are precise as well as clean as well as reflective of what’s occurring in the real world. In regards to cost, you’re mosting likely to spend anywhere in between $125 an hour to upwards of $450 a hr for a certified CPA.

Contact Us

(844) 382-8160