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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 – (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.

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.

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Frequently Asked

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

There are absolutely means to tackle your accountancy on your own and Do It Yourself it. Alternatives like QuickBooks have actually made this feasible, yet I warn you, if you are doing among these two things, you most likely need to let somebody else care for it.

  1. If you are covertly wondering if you’re also doing this right in any way, that’s a red flag.
  2. If you’re not doing it whatsoever because well you do not recognize what to do as well as it’s frustrating, that’s a big warning 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 hourly, they charge you some dollars per hr depending upon how much time they put in. It’s also typical to bill fixed fees for specific tasks. Your CPA might do your tax return for one cost and also prepare one more price quote for the next project. An additional prominent price structure is the yearly fixed rate arrangement. Your CPA might say, “I’m going to supply this series of solutions to you, and also I’m mosting likely to provide you unlimited telephone call and unrestricted conferences, and I’m mosting likely to do that all for $X amount of dollars each year.” That dollar amount would certainly probably be billed monthly. We typically suggest relationships which are not hourly. Fixed charge invoicing urges communication between the customer and the Certified Public Accountant. The even more the CPA finds out about the client’s organisation and also their life and also what’s going on, the much better recommendations they can give. When clients are awkward with getting the phone, terrified they’re going to get a large bill, they are much less likely to pick the phone speak to their Certified Public Accountant when they have something on their mind.
What should I expect from my CPA?
What you should anticipate from your CPA depends a whole lot on your company goals. If you’re a really local business as well as you’re not intending to grow a lot in the near future, possibly all you require is somebody to prepare your income tax return. However, perhaps you have a growing company. You require a person that can talk to you on employee issues, management problems, accounting system set up and also layout. These are some points to take into consideration when thinking of the degree of commitment you need from your CPA. I normally trainer my clients to create a shopping list of things they want from us. Of course, the more dedication a client requires from us, the bigger the engagement will be, which will certainly boost costs. Starting from the maximum and working down, though, is always the very best wager. We can trainer you on which things on your shopping list will be the most impactful to your company as well as which ones may be less important. So list out those particular purposes you want to accomplish with your CPA. “This is what I want out of that connection.” Don’t hesitate to make that a rather lengthy listing. What you wish to do is pretend money is no item. Checklist everything that you want to leave this relationship. From that position, you can begin to focus on that listing as well as claim, “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 require to hire? Should it be an accountant, an accounting professional, or a Certified Public Accountant? What’s the difference? One of the most essential thing is just that you understand that these records are being kept and that you feel great in the person keeping them. A bookkeeper preserves your accountancy documents. They go into all deals, as well as they balance your funds. Accountants focus on financial resources, tax obligations, budgets, organisation operations, pay-roll, and money management. Yet recognize this, there are different types of accounting professionals who focus on numerous areas of organisation. To put it simply, if you damage your leg, do not most likely to the skin doctor. You intend to make sure that you find the ideal individual for your small company. Puff Smoke Accountancy has bookkeepers as well as accountants on personnel. This way. When it pertains to monthly transaction handling, our bookkeepers can do it for a lower cost. When we’re talking 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 number one of becoming lucrative in your service? You’re going to require an accountant. Now you don’t need to hire us. You can work with in house. If you participate in home, who should you get? There are a lot of alternatives and various budget plans out there that you need to be aware of. You don’t wish to obtain the wrong individual for the wrong job description. The first individual you’re going to work with is your accountant. This is the information entry professional. Relying on where you live, you’re going to pay a various amount for this person. If you live 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 same placement. Know that this person serves a specific function. They’re not mosting likely to be strong at creating reports for you or doing business analytics or accounting procedures. Their task is to get data into the system. And if you’re a new business owner, likely, you have actually been doing this on your own. It’s wise to unload some of the heavy grunt work of bookkeeping, which will enable you to begin examining the records. A bookkeeper is a great hire for anyone ready to broaden their business, yet not prepared to buy the high leading tier accountants right now. The following level up people is the accounting professional. Currently, a lot of individuals think bookkeepers as well as accountants coincide. They’re not. It’s extremely, extremely different. You’re mosting likely to pay a greater quantity for someone that’s an accounting professional. Your accountant has been putting data into the system all month long. Your accountant commonly is assisting to supervise that process. Then, at the end of the month, your accountant will do some of the more hefty training tasks which need integrating your trial equilibrium as well as making month-end journal access. They will certainly likewise do a few of the accrual work that’s mosting likely to require to occur in your financials. In some cases, an accountant will help create financial statements. They are at that month’s end position. For an accountant, depending once more 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 process of overseeing the entire accountancy system. They reach coordinate what’s occurring and when. They see to it the information is getting involved in the system on schedule, and that the month and also general rate of interests are occurring on schedule. The controller is responsible for the final product that’s coming out of the accountancy system. That is the annual report, the income statement, and the cash flow statement. Those kinds of files hinge on the shoulders of your controller. This is a much more expensive setting to fill up, as well as it must be. He or she requires to have a lot of experience, need to a minimum of a bachelor’s degree in accountancy, otherwise entering their master’s degree. I would expect to pay anywhere from $45k to $85k/year for this person. Currently we’re going to speak about the King or queen in addition to the mountain. This is your CFO. CFO stands for “primary financial officer.” They hold a C suite setting in your company. This person’s costly. You intend to beware when you work with a CFO since not all CFOs are created equal. Every little thing as much as this factor has actually been task-related, concentrating on just journal entrances and debiting and also crediting. When you enter a CFO duty, this calls for strategic reasoning. Not all accountants have that ability. If they’re not able to see the big picture and develop plans that are business advancement associated, they aren’t gotten approved for the task. They need to equate the job that the rest of the group is doing into objectives for your company. Your CFO needs to make sure that you’re hitting the targets you require to hit with the right amount of money behind each goal. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is generally what I’ve seen across the country for somebody of this caliber. Finally is the Certified Public Accountant. The CPA stands for “certified public accountant.” If you’ve begun your company, you understand that you require a tax individual, right? That’s the Certified Public Accountant. His job is to do two points. One is to prepare your tax obligation method. That is to take every little thing you’re doing throughout the year and also prepare it to make sure that you are not investing more than you require to on tax obligations. That’s the primary goal. Nevertheless, a CPA typically fills the role of an auditor where they are available in as an independent party. They see to it that your publications are accurate and also clean and reflective of what’s happening in the real life. In regards to cost, you’re going to spend anywhere between $125 a hr to upwards of $450 an hour for a certified Certified Public Accountant.

Contact Us

(833) 319-0797