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.
Audit Response & Tax Resolution
Corporate Entity & Structure Planning
Technical Accounting Services
Tax Planning & Preparation
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.
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.
CPA Relationship Built On 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 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
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.
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.
- If you are covertly questioning if you’re also doing this right at all, that’s a red flag.
- 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?
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?
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?
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?
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.