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Iowa Cannabis Accounting

Puff Puff Accounting, serving Iowa, 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.

Iowa 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 handle your accounting yourself and DIY it. Options like QuickBooks have made this possible, yet I warn you, if you are doing among these 2 things, you probably need to allow somebody else look after it.

  1. If you are covertly wondering if you’re also doing this right in any way, that’s a warning.
  2. If you’re refraining from doing it at all because well you don’t recognize what to do as well as it’s frustrating, that’s a massive warning as well as it’s time to allow a professional take control of.
What are common ways accountants bill their clients?
Some Certified public accountants costs per hour, they charge you some bucks per hr depending upon just how much time they put in. It’s additionally common to charge fixed charges for private projects. Your Certified Public Accountant could do your tax return for one cost and also prepare another estimate for the following project. One more popular cost structure is the yearly set rate contract. Your CPA may claim, “I’m mosting likely to offer this series of services to you, as well as I’m mosting likely to give you unrestricted call and also limitless conferences, and I’m going to do that all for $X amount of dollars each year.” That buck amount would certainly probably be billed monthly. We typically recommend relationships which are not hourly. Repaired cost payment encourages interaction in between the client and the Certified Public Accountant. The more the Certified Public Accountant understands about the customer’s company and their life as well as what’s taking place, the far better guidance they can give. When clients are uncomfortable with grabbing the phone, worried they’re going to get a huge costs, they are less most 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 anticipate from your CPA depends a great deal on your service goals. If you’re a very small company and also you’re not intending to grow much in the near future, maybe all you need is somebody to prepare your tax return. Nevertheless, possibly you have an expanding organisation. You require someone who can speak with you on staff member matters, management issues, accounting system established and also style. These are some points to consider when picturing the level of dedication you need from your CPA. I typically train my clients to assemble a want list of points they want from us. Of course, the more dedication a customer needs from us, the larger the engagement will be, which will raise expenses. Starting from the optimum and also functioning down, however, is constantly the best bet. We can coach you on which items on your want list will be the most impactful to your company and which ones could be lesser. So list out those details goals you wish to complete with your Certified Public Accountant. “This is what I desire out of that connection.” Don’t be afraid to make that a rather lengthy list. What you intend to do is pretend money is no object. Listing everything that you want to leave this connection. From that setting, you can start to prioritize that listing and state, “these 6 things are most important in this connection that I’m going to have.”.
Do I need a bookkeeper or an accountant for my business?
So how do you know who you need to employ? Should it be an accountant, an accountant, or a Certified Public Accountant? What’s the difference? The most crucial point is just that you know that these records are being maintained which you feel great in the individual keeping them. A bookkeeper maintains your audit records. They go into all deals, and also they balance your funds. Accountants concentrate on funds, tax obligations, spending plans, company operations, pay-roll, and finance. Yet recognize this, there are various sorts of accounting professionals that focus on different locations of business. In other words, if you damage your leg, don’t go to the dermatologist. You intend to make sure that you find the ideal individual for your local business. Puff Smoke Accounting has bookkeepers and accounting professionals on staff. By doing this. When it comes to regular monthly purchase handling, our accountants can do it for a lesser fee. When we’re speaking about money management and tax planning, you have a CPA ready to step in.
What are the 5 types of accountants?
What is step top of becoming rewarding in your service? You’re going to require an accounting professional. Currently you don’t need to hire us. You can work with in residence. If you participate in house, who should you get? There are a great deal of alternatives and also many different budget plans around that you require to be aware of. You do not want to get the incorrect individual for the incorrect job description. The first individual you’re mosting likely to hire is your accountant. This is the data access expert. Depending upon where you live, you’re mosting likely to pay a various quantity for this person. If you reside in Idaho, for example, you could be on the lower end around 18 to $20,000 a year. But if you’re in New York City or California, you could be upwards of 40,000 or perhaps $45,000 a year for the exact same position. Know that he or she offers a specific function. They’re not going to be solid at creating reports for you or doing business analytics or accounting procedures. Their work is to get data into the system. And also if you’re a new entrepreneur, likely, you have actually been doing this yourself. It’s clever to offload some of the heavy dirty work of bookkeeping, which will certainly enable you to start evaluating the reports. An accountant is an excellent hire for any person all set to expand their company, yet not prepared to invest in the high leading rate accounting professionals just yet. The following degree up individuals is the accounting professional. Currently, a great deal of individuals assume bookkeepers and accounting professionals are the same. They’re not. It’s very, extremely various. You’re going to pay a greater quantity for someone that’s an accounting professional. Your bookkeeper has actually been placing information right into the system all month long. Your accountant commonly is assisting to manage that procedure. Then, at the end of the month, your accounting professional will do several of the more hefty lifting jobs which call for reconciling your test equilibrium and also making month-end journal entries. They will additionally do several of the accrual work that’s mosting likely to require to take place in your financials. In some cases, an accountant will help produce monetary declarations. They go to that month’s end setting. For an accountant, depending once again on where you live, you can anticipate to pay anywhere from possibly $30k up to $60k/year. The following level up is the controller. The controller fills the procedure of looking after the entire audit system. They reach orchestrate what’s happening and when. They ensure the data is getting involved in the system promptly, and that the month and also general rate of interests are taking place on time. The controller is responsible for the final product that’s appearing of the accounting system. That is the annual report, the income statement, and the capital statement. Those sort of records hinge on the shoulders of your controller. This is an extra expensive placement to fill up, as well as it should be. He or she requires to have a lot of experience, should a minimum of a bachelor’s degree in accounting, otherwise getting involved in their master’s degree. I would certainly expect to pay anywhere from $45k to $85k/year for he or she. Now we’re going to talk about the King or queen on top of the hill. This is your CFO. CFO represents “primary financial officer.” They hold a C suite placement in your company. This person’s expensive. You wish to be careful when you employ a CFO because not all CFOs are created equivalent. Every little thing up to this point has actually been task-related, concentrating on just journal entries and debiting as well as crediting. When you enter a CFO role, this requires calculated thinking. Not all accountants have that ability. If they’re unable to see the big picture and develop plans that are organisation advancement related, they aren’t qualified for the work. They should translate the job that the remainder of the team is doing into objectives for your firm. Your CFO requires to see to it that you’re striking the targets you require to hit with the correct amount of money behind each goal. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is typically what I’ve seen nationwide for someone of this caliber. Finally is the CPA. The CPA stands for “certified public accountant.” If you’ve begun your firm, you understand that you need a tax obligation individual, right? That’s the CPA. His task is to do two points. One is to prepare your tax obligation strategy. That is to take whatever you’re doing throughout the year as well as prepare it to ensure that you are not spending more than you require to on tax obligations. That’s the major goal. Nevertheless, a Certified Public Accountant frequently fills up the function of an auditor where they come in as an independent event. They see to it that your books are precise and also tidy and also reflective of what’s taking place in the real life. In regards to cost, you’re mosting likely to spend anywhere in between $125 a hr to upwards of $450 a hr for a certified Certified Public Accountant.

Contact Us

(833) 319-0797