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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

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.

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

Frequently Asked

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

There are certainly means to take on your audit yourself and also DIY it. Choices like QuickBooks have actually made this feasible, however I warn you, if you are doing one of these two things, you possibly need to allow somebody else deal with it.

  1. If you are covertly questioning if you’re also doing this right in any way, that’s a red flag.
  2. If you’re refraining from doing it whatsoever because well you do not recognize what to do as well as it’s frustrating, that’s a big red flag and it’s time to let a professional take control of.
What are common ways accountants bill their clients?
Some CPAs bill per hour, they charge you some bucks per hr depending on how much time they place in. It’s likewise typical to bill repaired fees for individual jobs. Your Certified Public Accountant might do your tax return for one price as well as prepare an additional price quote for the following task. Another popular price structure is the annual fixed cost contract. Your Certified Public Accountant may state, “I’m going to offer this range of services to you, and I’m mosting likely to provide you limitless telephone call and endless conferences, and I’m mosting likely to do that all for $X quantity of bucks per year.” That buck quantity would more than likely be billed monthly. We commonly advise relationships which are not hourly. Repaired charge payment encourages interaction between the customer and the Certified Public Accountant. The even more the CPA knows about the customer’s business and also their life and also what’s taking place, the better suggestions they can provide. When clients are unpleasant with picking up the phone, afraid they’re going to get a large bill, they are much less likely to choose the phone talk to their Certified Public Accountant 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 company goals. If you’re a very small business as well as you’re not planning to expand much in the future, maybe all you require is someone to prepare your tax return. Nonetheless, maybe you have a growing company. You need someone who can talk to you on employee matters, management problems, accounting system set up and also layout. These are some points to consider when imagining the degree of dedication you require from your CPA. I typically train my clients to put together a want list of things they desire from us. Naturally, the even more dedication a customer requires from us, the larger the engagement will certainly be, which will enhance costs. Starting from the optimum and functioning down, however, is always the most effective bet. We can train you on which things on your want list will certainly be one of the most impactful to your organisation as well as which ones could be less important. So list out those details objectives you want to accomplish with your CPA. “This is what I want out of that partnership.” Don’t hesitate to make that a pretty lengthy listing. What you wish to do is pretend money is no things. List whatever that you want to leave this partnership. From that position, you can begin to focus on that checklist and also state, “these six points are most important in this connection that I’m mosting likely to have.”.
Do I need a bookkeeper or an accountant for my business?
So how do you know who you require to hire? Should it be a bookkeeper, an accounting professional, or a Certified Public Accountant? What’s the distinction? One of the most essential point is just that you know that these documents are being maintained and that you feel great in the individual maintaining them. A bookkeeper keeps your audit records. They enter all deals, as well as they balance your funds. Accountants concentrate on financial resources, taxes, budget plans, service operations, payroll, as well as finance. However know this, there are various kinds of accounting professionals that concentrate on different locations of business. Simply put, if you break your leg, don’t go to the skin doctor. You wish to see to it that you locate the best individual for your small business. Puff Smoke Bookkeeping has accountants and accounting professionals on personnel. In this manner. When it pertains to regular monthly transaction processing, our bookkeepers can do it for a lower cost. When we’re discussing finance as well as tax obligation planning, you have a Certified Public Accountant prepared to action in.
What are the 5 types of accountants?
What is action top of coming to be rewarding in your organisation? You’re going to need an accountant. Now you don’t need to employ us. You can employ in house. If you engage in home, that should you obtain? There are a great deal of choices as well as various spending plans around that you require to be familiar with. You do not intend to get the incorrect individual for the incorrect work summary. The first individual you’re mosting likely to hire is your accountant. This is the data access specialist. Depending upon where you live, you’re mosting likely to pay a various quantity for he or she. If you live in Idaho, for instance, you could 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 exact same position. Know that he or she offers a certain duty. They’re not going to be solid at creating records for you or operating analytics or accounting procedures. Their job is to obtain information right into the system. And also if you’re a brand-new business owner, likely, you have actually been doing this on your own. It’s wise to offload several of the heavy grunt work of accounting, which will allow you to start analyzing the reports. A bookkeeper is a great hire for any person all set to increase their service, yet not prepared to invest in the high leading tier accountants right now. The following level up individuals is the accounting professional. Currently, a lot of people think accountants and accounting professionals are the same. They’re not. It’s very, very various. You’re going to pay a greater amount for somebody that’s an accounting professional. Your accountant has been putting data right into the system all month long. Your accounting professional typically is assisting to oversee that procedure. Then, at the end of the month, your accountant will do several of the more hefty lifting jobs which call for resolving your test balance as well as making month-end journal access. They will certainly additionally do several of the amassing job that’s going to need to occur in your financials. In many cases, an accountant will assist create monetary statements. They go to that month’s end setting. For an accountant, depending once more on where you live, you can expect to pay anywhere from perhaps $30k approximately $60k/year. The following degree up is the controller. The controller loads the process of supervising the entire accountancy system. They reach coordinate what’s occurring as well as when. They ensure the information is getting involved in the system on schedule, and that the month and general interests are occurring on schedule. The controller is accountable for the final product that’s appearing of the audit system. That is the annual report, the revenue declaration, and also the cash flow declaration. Those type of documents hinge on the shoulders of your controller. This is an extra pricey setting to load, and it must be. This person requires to have a great deal of experience, should at the very least a bachelor’s degree in audit, if not getting involved in their master’s degree. I would anticipate to pay anywhere from $45k to $85k/year for this person. Now we’re mosting likely to discuss the King or queen in addition to the hill. This is your CFO. CFO represents “primary financial officer.” They hold a C suite placement in your company. He or she’s costly. You intend to be careful when you hire a CFO due to the fact that not all CFOs are developed equal. Whatever as much as this factor has been task-related, concentrating on simply journal access and debiting and attributing. When you step into a CFO duty, this requires tactical reasoning. Not all accountants have that ability. If they’re not able to see the big picture and develop strategies that are business growth relevant, they aren’t gotten approved for the work. They need to translate the job that the rest of the group is doing into goals for your business. Your CFO requires to see to it that you’re hitting the targets you need 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 have actually seen across the country for somebody of this caliber. Lastly is the Certified Public Accountant. The CPA represents “certified public accountant.” If you’ve begun your business, you recognize that you require a tax obligation man, right? That’s the CPA. His job is to do 2 points. One is to prepare your tax method. That is to take everything you’re doing throughout the year as well as prepare it to ensure that you are not spending greater than you need to on tax obligations. That’s the primary objective. Nevertheless, a Certified Public Accountant frequently fills up the function of an auditor where they come in as an independent party. They see to it that your publications are precise as well as tidy and also reflective of what’s happening in the real world. In terms of price, you’re mosting likely to spend anywhere in between $125 an hour to upwards of $450 an hour for a qualified Certified Public Accountant.

Contact Us

(833) 319-0797