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Indiana Cannabis Accounting

Puff Puff Accounting, serving Indiana, 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.

Indiana 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 methods to handle your accounting on your own and Do It Yourself it. Choices like QuickBooks have actually made this feasible, yet I advise you, if you are doing one of these 2 points, you probably require to allow somebody else take care of it.

  1. If you are covertly wondering if you’re even doing this right whatsoever, that’s a warning.
  2. If you’re refraining it at all because well you don’t recognize what to do and it’s frustrating, that’s a big warning and it’s time to let a professional take control of.
What are common ways accountants bill their clients?
Some CPAs costs per hour, they bill you some dollars per hr relying on just how much time they put in. It’s likewise usual to bill fixed charges for individual jobs. Your CPA could do your tax return for one cost and prepare one more quote for the next job. Another prominent cost framework is the yearly set cost arrangement. Your CPA could claim, “I’m going to offer this variety of services to you, and I’m mosting likely to give you unlimited call and also endless conferences, and also I’m going to do that all for $X quantity of dollars each year.” That buck amount would most likely be billed monthly. We generally recommend relationships which are not hourly. Fixed charge billing motivates interaction between the client and the CPA. The more the CPA knows about the client’s service and their life and also what’s going on, the better recommendations they can provide. When customers are unpleasant with grabbing the phone, worried they’re going to get a huge costs, they are much less most likely to select the phone talk with their Certified Public Accountant when they have something on their mind.
What should I expect from my CPA?
What you should get out of your CPA depends a whole lot on your business objectives. If you’re a very local business and also you’re not preparing to grow much in the near future, maybe all you require is somebody to prepare your tax return. However, perhaps you have an expanding service. You need someone who can speak with you on employee matters, management issues, accounting system established and also layout. These are some points to consider when envisioning the degree of commitment you require from your Certified Public Accountant. I generally train my customers to create a wish list of points they desire from us. Naturally, the even more dedication a customer requires from us, the bigger the involvement will certainly be, which will boost prices. Starting from the optimum and also functioning down, though, is always the best bet. We can train you on which things on your shopping list will be one of the most impactful to your service and also which ones may be less important. So checklist out those certain purposes you want to achieve with your Certified Public Accountant. “This is what I want out of that partnership.” Don’t hesitate to make that a pretty lengthy checklist. What you wish to do is pretend cash is no things. List everything that you want to leave this connection. From that setting, you can begin to prioritize that list and claim, “these 6 things are crucial in this relationship 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 distinction? One of the most important point is just that you recognize that these documents are being maintained and that you feel great in the person keeping them. A bookkeeper maintains your accounting records. They go into all deals, as well as they balance your funds. Accountants concentrate on funds, tax obligations, spending plans, organisation operations, payroll, and also finance. However recognize this, there are various types of accountants that specialize in different areas of business. Simply put, if you damage your leg, do not most likely to the skin doctor. You want to make sure that you find the best person for your small business. Puff Puff Accounting has bookkeepers as well as accounting professionals on team. This way. When it concerns monthly transaction handling, our accountants can do it for a minimal charge. When we’re talking about money management as well as tax obligation preparation, you have a CPA all set to step in.
What are the 5 types of accountants?
What is step top of ending up being profitable in your company? You’re going to need an accountant. Now you do not have to hire us. You can employ in home. If you engage in house, that should you obtain? There are a lot of choices and also various budgets available that you require to be aware of. You do not intend to get the incorrect individual for the wrong task summary. The initial person you’re going to work with is your bookkeeper. This is the information entry specialist. Relying on where you live, you’re mosting likely to pay a different quantity for this person. If you reside in Idaho, for instance, you might be on the lower end around 18 to $20,000 a year. However if you remain in New York City or California, you could be upwards of 40,000 or even $45,000 a year for the very same setting. Know that this person serves a specific function. They’re not going to be solid at producing reports for you or working analytics or accounting processes. Their task is to obtain information into the system. And also if you’re a brand-new entrepreneur, likely, you’ve been doing this yourself. It’s wise to offload several of the heavy dirty work of accountancy, which will certainly permit you to begin assessing the records. An accountant is an excellent hire for anyone ready to expand their company, but not prepared to buy the high top tier accountants just yet. The next degree up individuals is the accounting professional. Currently, a lot of people believe bookkeepers and also accountants coincide. They’re not. It’s really, very various. You’re mosting likely to pay a higher amount for somebody that’s an accountant. Your bookkeeper has actually been placing data into the system all month long. Your accounting professional normally is aiding to manage that process. Then, at the end of the month, your accounting professional will certainly do a few of the even more hefty training jobs which call for reconciling your test balance as well as making month-end journal entries. They will additionally do a few of the accrual job that’s mosting likely to require to happen in your financials. In some cases, an accounting professional will aid create financial statements. They go to that month’s end placement. For an accountant, depending once again on where you live, you can expect to pay anywhere from possibly $30k approximately $60k/year. The following degree up is the controller. The controller fills the process of looking after the whole bookkeeping system. They reach manage what’s occurring and also when. They ensure the information is entering into the system on time, and that the month and basic rate of interests are taking place on time. The controller is responsible for the final product that’s appearing of the audit system. That is the balance sheet, the income statement, as well as the capital statement. Those sort of files rest on the shoulders of your controller. This is an extra pricey setting to fill up, and it needs to be. This person requires to have a lot of experience, must at the very least a bachelor’s degree in accountancy, otherwise entering into their master’s degree. I would certainly anticipate to pay anywhere from $45k to $85k/year for this person. Currently we’re mosting likely to speak about the King or queen in addition to the hill. This is your CFO. CFO stands for “chief financial officer.” They hold a C suite setting in your company. This person’s costly. You intend to beware when you hire a CFO due to the fact that not all CFOs are developed equivalent. Every little thing as much as this point has been task-related, concentrating on just journal entries and also debiting as well as attributing. When you enter a CFO duty, this needs tactical reasoning. Not all accounting professionals have that capability. If they’re not able to see the big picture and create plans that are business growth relevant, they aren’t received the task. They should translate the work that the rest of the team is doing into goals for your business. Your CFO requires to ensure that you’re hitting the targets you need to hit with the right amount of cash behind each goal. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is generally what I have actually seen nationwide for somebody of this caliber. Last but not least is the Certified Public Accountant. The Certified Public Accountant stands for “state-licensed accountant.” If you’ve started your company, you recognize that you need a tax man, right? That’s the Certified Public Accountant. His job is to do 2 points. One is to prepare your tax approach. That is to take every little thing you’re doing throughout the year and prepare it so that you are not investing more than you require to on tax obligations. That’s the primary objective. Nonetheless, a Certified Public Accountant frequently fills the role of an auditor where they can be found in as an independent celebration. They see to it that your publications are accurate as well as clean as well as reflective of what’s taking place in the real world. In terms of price, you’re going to invest anywhere in between $125 a hr to upwards of $450 a hr for a certified CPA.

Contact Us

(833) 319-0797