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Kansas Cannabis Accounting

Puff Puff Accounting, serving Kansas, 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.

Kansas 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. Options like QuickBooks have made this possible, yet I alert you, if you are doing among these 2 things, you most likely require to allow another person look after it.

  1. If you are privately questioning if you’re even doing this right in all, that’s a red flag.
  2. If you’re not doing it whatsoever because well you do not understand what to do and also it’s frustrating, that’s a big warning as well as it’s time to allow a professional take control of.
What are common ways accountants bill their clients?
Some CPAs bill hourly, they bill you some bucks per hour relying on just how much time they place in. It’s also usual to bill repaired fees for individual tasks. Your CPA may do your tax return for one price and prepare an additional estimate for the next task. Another preferred rate structure is the yearly set rate agreement. Your Certified Public Accountant could say, “I’m mosting likely to offer this range of solutions to you, as well as I’m going to give you unrestricted phone calls and also unrestricted conferences, as well as I’m going to do that all for $X quantity of dollars each year.” That buck amount would more than likely be billed monthly. We commonly suggest partnerships which are not hourly. Taken care of fee billing encourages communication between the client and also the Certified Public Accountant. The more the Certified Public Accountant knows about the customer’s company as well as their life as well as what’s going on, the better guidance they can offer. When customers are uncomfortable with picking up the phone, terrified they’re going to get a big expense, they are 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 need to get out of your Certified Public Accountant depends a lot on your company goals. If you’re a very small company and also you’re not planning to expand a lot in the future, possibly all you require is somebody to prepare your income tax return. Nonetheless, probably you have a growing organisation. You require someone who can seek advice from you on staff member issues, monitoring concerns, accounting system established and design. These are some things to consider when envisioning the degree of commitment you require from your CPA. I typically train my customers to assemble a want list of points they want from us. Certainly, the more dedication a client needs from us, the larger the involvement will be, which will raise costs. Starting from the maximum as well as functioning down, however, is always the most effective bet. We can trainer you on which things on your wish list will certainly be one of the most impactful to your company as well as which ones could be less important. So list out those specific purposes you want to achieve with your Certified Public Accountant. “This is what I want out of that relationship.” Don’t be afraid to make that a quite lengthy list. What you wish to do is pretend money is no things. List everything that you want to get out of this connection. From that position, you can start to prioritize that listing and say, “these 6 things are essential in this connection that I’m mosting likely to have.”.
Do I need a bookkeeper or an accountant for my business?
So just how do you know who you need to work with? Should it be an accountant, an accountant, or a Certified Public Accountant? What’s the difference? One of the most important thing is simply that you understand that these documents are being kept which you feel great in the person maintaining them. An accountant keeps your accounting records. They enter all deals, as well as they balance your funds. Accounting professionals concentrate on funds, taxes, budgets, business procedures, payroll, as well as finance. However understand this, there are different types of accounting professionals that concentrate on numerous locations of organisation. In other words, if you damage your leg, don’t most likely to the skin specialist. You intend to see to it that you find the appropriate person for your small business. Smoke Puff Audit has bookkeepers and also accounting professionals on personnel. In this manner. When it pertains to month-to-month deal processing, our accountants can do it for a lesser cost. When we’re discussing finance and tax preparation, you have a CPA ready to action in.
What are the 5 types of accountants?
What is action leading of ending up being profitable in your organisation? You’re mosting likely to require an accountant. Currently you do not need to hire us. You can hire in residence. If you take part in residence, that should you get? There are a lot of alternatives as well as many different budget plans available that you require to be familiar with. You don’t wish to get the incorrect individual for the wrong task description. The very first person you’re mosting likely to employ is your bookkeeper. This is the data entrance expert. Relying on where you live, you’re mosting likely to pay a various amount for this person. If you reside in Idaho, for example, you might be on the reduced end around 18 to $20,000 a year. But if you remain in New York or California, you could be upwards of 40,000 and even $45,000 a year for the same setting. Know that he or she offers a certain duty. They’re not mosting likely to be strong at producing reports for you or doing business analytics or accounting procedures. Their work is to obtain information 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 offload a few of the hefty grunt work of bookkeeping, which will enable you to start examining the reports. A bookkeeper is an excellent hire for any person all set to increase their company, however not prepared to buy the high top tier accounting professionals right now. The next degree up guys is the accountant. Now, a lot of people assume accountants and also accountants are the same. They’re not. It’s extremely, really various. You’re going to pay a higher amount for someone that’s an accounting professional. Your bookkeeper has actually been placing information right into the system all month long. Your accounting professional usually is aiding to look after that procedure. After that, at the end of the month, your accountant will certainly do some of the more heavy lifting jobs which call for reconciling your trial equilibrium as well as making month-end journal entries. They will likewise do some of the accrual job that’s mosting likely to need to happen in your financials. In many cases, an accountant will help create financial declarations. 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 perhaps $30k as much as $60k/year. The next degree up is the controller. The controller loads the procedure of supervising the entire audit system. They get to manage what’s occurring and also when. They ensure the information is getting involved in the system on time, which the month and general passions are occurring on schedule. The controller is accountable for the end product that’s coming out of the audit system. That is the annual report, the income declaration, and the cash flow declaration. Those sort of papers hinge on the shoulders of your controller. This is an extra pricey placement to load, as well as it needs to be. This person needs to have a lot of experience, ought to a minimum of a bachelor’s degree in audit, otherwise entering into their master’s level. I would certainly expect to pay anywhere from $45k to $85k/year for he or she. Now we’re mosting likely to speak about the King or queen on top of the hill. This is your CFO. CFO represents “chief financial officer.” They hold a C suite setting in your firm. He or she’s costly. You wish to be careful when you employ a CFO because not all CFOs are created equivalent. Everything up to this factor has been task-related, concentrating on just journal access as well as debiting as well as attributing. When you step into a CFO function, this calls for calculated thinking. Not all accountants have that capability. If they’re not able to see the big picture and develop plans that are business development associated, they aren’t qualified for the task. They should convert the job that the remainder of the group is doing into goals for your company. Your CFO needs to see to it that you’re striking 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 typically what I’ve seen across the country for somebody of this caliber. Last but not least is the CPA. The Certified Public Accountant stands for “state-licensed accountant.” If you’ve begun your company, you recognize 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 strategy. That is to take everything you’re doing throughout the year as well as prepare it to ensure that you are not investing greater than you need to on tax obligations. That’s the main goal. Nonetheless, a CPA often fills the duty of an auditor where they can be found in as an independent party. They make sure that your books are accurate and also tidy and also reflective of what’s happening in the real life. In terms of expense, you’re going to invest anywhere between $125 a hr to upwards of $450 a hr for a qualified CPA.

Contact Us

(833) 319-0797