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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.

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

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 certainly means to take on your accountancy yourself as well as DIY it. Alternatives like QuickBooks have actually made this feasible, yet I caution you, if you are doing one of these two things, you most likely require to let someone else take care of it.

  1. If you are covertly questioning if you’re also doing this right at all, that’s a red flag.
  2. If you’re refraining from doing it at all because well you do not know what to do and also it’s overwhelming, that’s a substantial warning and 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 hr depending on how much time they place in. It’s also common to bill fixed charges for individual jobs. Your CPA could do your tax return for one cost and prepare another estimate for the following project. One more preferred price framework is the yearly set cost agreement. Your CPA could say, “I’m going to offer this range of services to you, and also I’m going to provide you endless telephone call as well as endless meetings, as well as I’m mosting likely to do that all for $X amount of bucks each year.” That buck quantity would certainly most likely be billed monthly.

We normally recommend connections which are not per hour. Taken care of charge payment motivates communication between the client as well as the CPA. The more the Certified Public Accountant understands about the customer’s business and also their life as well as what’s taking place, the far better recommendations they can provide. When customers are uneasy with grabbing the phone, scared they’re going to get a huge costs, they are much less most likely to select the phone speak to their Certified Public Accountant when they have something on their mind.

What should I expect from my CPA?
What you must anticipate from your Certified Public Accountant depends a lot on your business purposes. If you’re a very small business and also you’re not planning to expand a lot in the future, maybe all you require is a person to prepare your income tax return. Nonetheless, maybe you have a growing company. You require somebody who can consult with you on staff member matters, management concerns, accounting system established as well as design. These are some things to consider when thinking of the level of dedication you need from your Certified Public Accountant.

I usually instructor my clients to put together a shopping list of points they want from us. Certainly, the more dedication a customer requires from us, the bigger the involvement will be, which will enhance costs. Starting from the optimum as well as functioning down, however, is constantly the very best bet. We can train you on which things on your wish list will certainly be one of the most impactful to your business as well as which ones might be less important.

So listing out those specific purposes you intend to achieve with your Certified Public Accountant. “This is what I desire out of that partnership.” Do not hesitate to make that a rather lengthy list. What you wish to do is pretend cash is no things. Listing whatever that you desire to get out of this partnership. From that position, you can begin to prioritize that list and also say, “these six things 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 exactly how do you know who you need 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 simply that you know that these records are being kept and that you feel great in the person keeping them.

A bookkeeper keeps your accounting records. They enter all transactions, and also they balance your funds. Accountants focus on funds, tax obligations, spending plans, service procedures, payroll, as well as finance. However recognize this, there are various kinds of accounting professionals who concentrate on different locations of company. Simply put, if you damage your leg, don’t go to the skin specialist.

You intend to make sure that you discover the appropriate person for your local business. Smoke Smoke Accountancy has bookkeepers as well as accountants on team. This way. When it involves month-to-month transaction processing, our bookkeepers can do it for a minimal fee. When we’re talking about money management and also tax preparation, you have a Certified Public Accountant all set to action in.

What are the 5 types of accountants?
What is action number one of coming to be profitable in your organisation? You’re going to need an accounting professional. Currently you don’t need to hire us. You can employ in residence. If you engage in home, that should you get? There are a lot of alternatives and also various budgets out there that you need to be knowledgeable about. You don’t intend to obtain the incorrect individual for the incorrect work summary.

The first individual you’re mosting likely to work with is your bookkeeper. This is the information entrance specialist. Depending upon where you live, you’re mosting likely to pay a different amount for he or she. If you stay in Idaho, for instance, you may be on the lower end around 18 to $20,000 a year. However if you’re in New York or The Golden State, you could be upwards of 40,000 or even $45,000 a year for the same setting. Know that he or she offers a certain role. They’re not mosting likely to be solid at producing reports for you or operating analytics or accounting procedures. Their task is to get information into the system. And also if you’re a brand-new business owner, likely, you’ve been doing this yourself. It’s clever to unload several of the hefty dirty work of accountancy, which will certainly permit you to begin examining the reports. A bookkeeper is a good hire for anybody prepared to broaden their organisation, yet not prepared to purchase the high top tier accounting professionals right now.

The following level up men is the accountant. Now, a great deal of people assume bookkeepers as well as accountants are the same. They’re not. It’s extremely, really various. You’re going to pay a greater amount for somebody that’s an accounting professional. Your bookkeeper has been placing information into the system all month long. Your accountant usually is aiding to oversee that process. After that, at the end of the month, your accounting professional will certainly do some of the even more heavy training jobs which need resolving your test equilibrium as well as making month-end journal entrances. They will certainly also do some of the amassing work that’s mosting likely to need to take place in your financials.

In many cases, an accountant will certainly aid create financial statements. They are at that month’s end setting. For an accounting professional, depending once again on where you live, you can anticipate to pay anywhere from maybe $30k as much as $60k/year.

The following degree up is the controller. The controller fills the procedure of managing the whole bookkeeping system. They reach orchestrate what’s taking place and when. They make sure the information is entering the system promptly, and that the month and also general passions are occurring promptly. The controller is accountable for the end product that’s coming out of the audit system. That is the annual report, the earnings declaration, as well as the capital statement. Those type of files rest on the shoulders of your controller. This is a much more costly setting to load, as well as it needs to be. He or she needs to have a lot of experience, need to at least a bachelor’s level in audit, otherwise entering their master’s degree. I would certainly anticipate to pay anywhere from $45k to $85k/year for he or she.

Now we’re going 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 position in your firm. This person’s pricey. You intend to beware when you hire a CFO due to the fact that not all CFOs are produced equal. Everything as much as this factor has been task-related, concentrating on simply journal entrances as well as debiting and crediting. When you enter a CFO role, this calls for tactical thinking. Not all accountants have that capability. If they’re not able to see the big picture as well as develop strategies that are organisation growth related, they aren’t gotten approved for the job. They must translate the job that the remainder of the group is doing into goals for your business. Your CFO needs to make certain 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 commonly what I’ve seen nationwide for somebody of this caliber.

Finally is the Certified Public Accountant. The Certified Public Accountant means “certified public accountant.” If you’ve begun your company, you recognize that you need a tax guy, right? That’s the Certified Public Accountant. His job is to do two points. One is to prepare your tax approach. That is to take everything you’re doing throughout the year as well as prepare it to ensure that you are not spending more than you require to on taxes. That’s the primary goal. Nevertheless, a Certified Public Accountant usually loads the role of an auditor where they come in as an independent celebration. They make sure that your books are precise as well as clean and also reflective of what’s happening in the real life. In regards to cost, you’re going to spend anywhere in between $125 a hr to upwards of $450 an hour for a qualified CPA.

Contact Us

(844) 382-8160