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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

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.

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.

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Frequently Asked

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

There are absolutely ways to take on your audit on your own as well as Do It Yourself it. Options like QuickBooks have actually made this feasible, however I advise you, if you are doing one of these two points, you possibly need to let another person deal with it.

  1. If you are covertly wondering if you’re even doing this right in any way, that’s a warning.
  2. If you’re not doing it whatsoever because well you don’t know what to do and it’s overwhelming, that’s a significant warning and also 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 bill you some dollars per hr relying on just how much time they place in. It’s additionally typical to bill taken care of fees for private tasks. Your CPA might do your income tax return for one price as well as prepare another quote for the following task. One more popular price framework is the yearly fixed rate contract. Your Certified Public Accountant might state, “I’m mosting likely to give this series of services to you, and I’m going to provide you endless phone calls and endless meetings, and also I’m going to do that all for $X amount of bucks each year.” That dollar amount would certainly most likely be billed monthly. We commonly advise partnerships which are not hourly. Taken care of cost billing encourages communication in between the client and the Certified Public Accountant. The even more the Certified Public Accountant finds out about the client’s company and also their life as well as what’s going on, the better guidance they can provide. When customers are unpleasant with getting the phone, terrified 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 lot on your business objectives. If you’re a very local business and you’re not intending to grow a lot in the near future, perhaps all you need is a person to prepare your income tax return. Nonetheless, possibly you have an expanding business. You require somebody who can consult with you on worker matters, management issues, accounting system established and layout. These are some points to think about when visualizing the degree of dedication you require from your Certified Public Accountant. I usually coach my clients to put together a want list of points they want from us. Certainly, the more commitment a customer needs from us, the larger the involvement will certainly be, which will raise costs. Starting from the maximum as well as working down, however, is constantly the very best bet. We can trainer you on which products on your want list will be the most impactful to your service as well as which ones might be lesser. So listing out those specific goals you wish to accomplish with your Certified Public Accountant. “This is what I want out of that connection.” Do not be afraid to make that a rather lengthy checklist. What you intend to do is pretend money is no things. List whatever that you want to leave this relationship. From that placement, you can begin to focus on that checklist and also claim, “these six points are most important in this connection that I’m going to have.”.
Do I need a bookkeeper or an accountant for my business?
So just how do you know who you need to hire? Should it be an accountant, an accounting professional, or a CPA? What’s the difference? The most important point is simply that you know that these documents are being maintained and that you feel confident in the individual maintaining them. An accountant keeps your accountancy records. They go into all deals, and they stabilize your funds. Accountants concentrate on funds, taxes, spending plans, business operations, pay-roll, and money management. However understand this, there are various kinds of accountants who specialize in different locations of service. To put it simply, if you break your leg, don’t go to the skin specialist. You want to make sure that you find the appropriate individual for your small business. Smoke Smoke Bookkeeping has bookkeepers as well as accountants on team. By doing this. When it pertains to month-to-month deal handling, our bookkeepers can do it for a minimal fee. When we’re speaking about finance and also tax obligation preparation, you have a CPA all set to action in.
What are the 5 types of accountants?
What is step primary of ending up being rewarding in your organisation? You’re mosting likely to require an accountant. Currently you don’t have to hire us. You can hire in home. If you engage in residence, that should you obtain? There are a great deal of options and many different budget plans out there that you need to be familiar with. You don’t wish to obtain the incorrect person for the wrong job summary. The very first person you’re going to work with is your bookkeeper. This is the data entrance specialist. Depending upon where you live, you’re mosting likely to pay a different amount for he or she. If you live in Idaho, as an example, you might be on the lower end around 18 to $20,000 a year. Yet if you remain in New York City or California, you could be upwards of 40,000 or even $45,000 a year for the exact same placement. Know that this person offers a details role. They’re not going to be solid at developing records for you or doing business analytics or accounting procedures. Their task is to obtain data into the system. As well as if you’re a new entrepreneur, likely, you have actually been doing this yourself. It’s clever to unload a few of the heavy dirty work of accounting, which will permit you to begin assessing the records. An accountant is a good hire for anybody all set to increase their organisation, yet not prepared to purchase the high top tier accountants just yet. The following level up men is the accounting professional. Currently, a lot of individuals believe accountants and accountants are the same. They’re not. It’s really, really various. You’re going to pay a higher quantity for somebody that’s an accountant. Your bookkeeper has been placing information into the system all month long. Your accountant generally is helping to look after that process. Then, at the end of the month, your accounting professional will do a few of the more heavy lifting tasks which need resolving your trial equilibrium as well as making month-end journal entrances. They will likewise do several of the accrual work that’s mosting likely to require to occur in your financials. In some cases, an accounting professional will aid create economic statements. They are at that month’s end setting. For an accountant, depending again on where you live, you can anticipate to pay anywhere from perhaps $30k as much as $60k/year. The next level up is the controller. The controller fills up the procedure of looking after the entire accounting system. They get to manage what’s happening as well as when. They ensure the information is getting into the system on time, and that the month and also general rate of interests are happening on schedule. The controller is in charge of the end product that’s appearing of the bookkeeping system. That is the annual report, the income statement, and the capital declaration. Those type of papers rest on the shoulders of your controller. This is a much more expensive placement to fill, and also it ought to be. This person requires to have a lot of experience, ought to a minimum of a bachelor’s level in audit, if not getting involved in their master’s level. I would certainly 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 hill. This is your CFO. CFO represents “chief financial officer.” They hold a C collection setting in your business. This person’s pricey. You want to take care when you hire a CFO since not all CFOs are produced equivalent. Every little thing up to this point has actually been task-related, concentrating on just journal entrances and debiting and attributing. When you enter a CFO role, this requires tactical reasoning. Not all accountants have that capacity. If they’re not able to see the big picture and also produce plans that are company development relevant, they aren’t gotten approved for the work. They should convert the work that the remainder of the group is doing into objectives for your company. Your CFO needs to see to it that you’re striking the targets you need to hit with the correct amount of cash behind each objective. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is generally what I have actually seen across the country for someone of this caliber. Last but not least is the Certified Public Accountant. The Certified Public Accountant stands for “cpa.” If you’ve begun your business, you recognize that you need a tax obligation man, right? That’s the Certified Public Accountant. His job is to do 2 things. One is to prepare your tax obligation strategy. That is to take every little thing you’re doing throughout the year and also prepare it so that you are not spending more than you require to on taxes. That’s the major goal. However, a CPA frequently fills the duty of an auditor where they come in as an independent celebration. They make sure that your books are exact as well as tidy and also reflective of what’s occurring in the real world. In regards to cost, you’re going to invest anywhere between $125 an hour to upwards of $450 an hour for a certified CPA.

Contact Us

(833) 319-0797