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Hawaii Cannabis Accounting

Puff Puff Accounting, serving Hawaii, 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.

Hawaii 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 ways to tackle your accountancy yourself and also Do It Yourself it. Choices like QuickBooks have actually made this possible, however I caution you, if you are doing among these two things, you most likely require to let another person take care of it.

  1. If you are privately wondering if you’re even doing this right in all, that’s a red flag.
  2. If you’re refraining from doing it at all because well you don’t recognize what to do as well as it’s overwhelming, that’s a big red flag and also it’s time to allow an expert take control of.
What are common ways accountants bill their clients?
Some CPAs expense hourly, they bill you some bucks per hr depending upon just how much time they place in. It’s additionally typical to charge repaired charges for individual jobs. Your CPA might do your tax return for one cost as well as prepare another price quote for the next task. Another preferred price structure is the annual set price contract. Your CPA could say, “I’m mosting likely to supply this series of services to you, and I’m going to give you endless telephone call and also endless conferences, and also I’m mosting likely to do that all for $X amount of dollars each year.” That buck quantity would more than likely be billed monthly.

We commonly suggest connections which are not hourly. Fixed charge payment urges communication in between the customer and the Certified Public Accountant. The even more the Certified Public Accountant learns about the customer’s business as well as their life and also what’s going on, the better guidance they can provide. When clients are uneasy with grabbing the phone, afraid they’re going to get a large bill, they are less most likely to select the phone talk with their CPA when they have something on their mind.

What should I expect from my CPA?
What you must expect from your Certified Public Accountant depends a great deal on your company objectives. If you’re a really small company and you’re not preparing to grow a lot in the future, possibly all you need is a person to prepare your tax return. However, maybe you have an expanding company. You require someone that can consult with you on worker issues, administration issues, accounting system established as well as layout. These are some points to take into consideration when envisioning the degree of dedication you require from your CPA.

I normally coach my customers to assemble a want list of points they desire from us. Of course, the even more dedication a client requires from us, the bigger the engagement will be, which will enhance prices. Beginning with the optimum as well as working down, however, is constantly the best wager. We can train you on which things on your want list will certainly be one of the most impactful to your service and also which ones may be lesser.

So listing out those particular objectives you intend to achieve with your CPA. “This is what I want out of that relationship.” Don’t be afraid to make that a pretty lengthy listing. What you wish to do is pretend money is no object. Listing everything that you desire to get out of this connection. From that setting, you can begin to prioritize that list and also state, “these 6 things are most important 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 employ? Should it be a bookkeeper, an accounting professional, or a Certified Public Accountant? What’s the distinction? The most vital thing is just that you recognize that these records are being kept and that you feel great in the person keeping them.

An accountant keeps your bookkeeping records. They enter all deals, and they stabilize your funds. Accounting professionals focus on funds, tax obligations, budget plans, organisation procedures, pay-roll, and finance. But recognize this, there are various types of accountants that focus on numerous areas of business. To put it simply, if you damage your leg, do not go to the skin specialist.

You want to make certain that you locate the right person for your small business. Puff Puff Bookkeeping has accountants as well as accounting professionals on personnel. By doing this. When it involves regular monthly deal processing, our accountants can do it for a lesser fee. When we’re discussing finance and tax planning, you have a Certified Public Accountant prepared to step in.

What are the 5 types of accountants?
What is step number one of coming to be successful in your organisation? You’re going to need an accountant. Currently you don’t need to hire us. You can employ in residence. If you participate in residence, that should you obtain? There are a lot of alternatives and also several spending plans available that you require to be aware of. You do not want to obtain the incorrect person for the wrong job description.

The first individual you’re going to employ is your bookkeeper. This is the information access professional. Depending upon where you live, you’re mosting likely to pay a various amount for he or she. If you live in Idaho, for example, you might 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 and even $45,000 a year for the exact same position. Know that he or she serves a particular function. They’re not going to be strong at developing records for you or doing business analytics or accounting procedures. Their task is to obtain information into the system. As well as if you’re a new entrepreneur, likely, you’ve been doing this on your own. It’s clever to unload some of the hefty grunt work of accountancy, which will certainly enable you to start evaluating the records. An accountant is an excellent hire for anyone prepared to broaden their organisation, yet not prepared to invest in the high top tier accountants right now.

The following level up individuals is the accounting professional. Now, a great deal of people assume bookkeepers and also accountants coincide. They’re not. It’s very, very various. You’re going to pay a greater quantity for someone that’s an accountant. Your bookkeeper has been placing data right into the system all month long. Your accountant typically is helping to look after that procedure. Then, at the end of the month, your accountant will certainly do several of the more hefty training tasks which call for integrating your test balance as well as making month-end journal entrances. They will certainly also do a few of the amassing work that’s mosting likely to require to occur in your financials.

In some cases, an accounting professional will help develop financial statements. They are at that month’s end placement. For an accountant, depending again on where you live, you can expect to pay anywhere from possibly $30k up to $60k/year.

The next degree up is the controller. The controller loads the procedure of supervising the entire audit system. They reach orchestrate what’s occurring and also when. They make sure the information is entering the system promptly, and that the month as well as general rate of interests are occurring on schedule. The controller is accountable for the end product that’s coming out of the bookkeeping system. That is the annual report, the revenue declaration, and also the cash flow statement. Those sort of records hinge on the shoulders of your controller. This is an extra expensive position to fill, and also it ought to be. This person needs to have a great deal of experience, should at least a bachelor’s degree in audit, if not getting involved in their master’s degree. I would certainly expect to pay anywhere from $45k to $85k/year for this person.

Currently we’re mosting likely 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 firm. This person’s costly. You want to be careful when you employ a CFO because not all CFOs are created equal. Whatever approximately this point has been task-related, focusing on simply journal entrances as well as debiting and also attributing. When you step into a CFO function, this calls for critical thinking. Not all accounting professionals have that ability. If they’re not able to see the big picture and produce strategies that are company advancement related, they aren’t gotten approved for the work. They ought to translate the work that the rest of the group is doing into goals for your business. Your CFO needs to ensure that you’re hitting the targets you require to hit with the right amount of money behind each objective. For a CFO, you can anticipate to pay anywhere from $75k to $250k/year. That is normally what I have actually seen across the country for someone of this caliber.

Last but not least is the Certified Public Accountant. The CPA means “cpa.” If you’ve started your company, you recognize that you need a tax obligation guy, right? That’s the CPA. His task is to do two points. One is to prepare your tax obligation method. That is to take everything you’re doing throughout the year and prepare it so that you are not investing more than you require to on taxes. That’s the major objective. Nevertheless, a Certified Public Accountant commonly loads the duty of an auditor where they are available in as an independent celebration. They make sure that your books are precise and also tidy and reflective of what’s taking place in the real world. In terms of expense, you’re going to spend anywhere between $125 an hour to upwards of $450 a hr for a certified Certified Public Accountant.

Contact Us

(844) 382-8160