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Montana Cannabis Accounting

Puff Puff Accounting, serving Montana, 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.

Montana 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 handle your accountancy on your own and Do It Yourself it. Options like QuickBooks have actually made this feasible, but I alert you, if you are doing among these two points, you most likely need to allow someone else take care of it.

  1. If you are covertly questioning if you’re also doing this right at all, that’s a warning.
  2. If you’re refraining it in all because well you do not understand what to do and also it’s overwhelming, that’s a big red flag and it’s time to allow a professional take control of.
What are common ways accountants bill their clients?
Some Certified public accountants expense per hour, they charge you some dollars per hr depending on how much time they place in. It’s additionally common to charge repaired charges for specific tasks. Your CPA may do your income tax return for one price as well as prepare an additional price quote for the next project. One more preferred cost structure is the yearly set price contract. Your CPA could state, “I’m mosting likely to provide this variety of solutions to you, and also I’m going to offer you unrestricted call and unrestricted meetings, as well as I’m mosting likely to do that all for $X amount of dollars each year.” That dollar quantity would certainly probably be billed monthly.

We commonly suggest partnerships which are not hourly. Dealt with charge payment urges interaction in between the client and also the CPA. The more the CPA understands about the client’s business as well as their life as well as what’s going on, the far better guidance they can give. When clients are unpleasant with getting the phone, terrified they’re going to get a huge bill, they are much less most 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 must anticipate from your Certified Public Accountant depends a lot on your organisation purposes. If you’re an extremely small company and also you’re not planning to expand a lot in the near future, perhaps all you need is somebody to prepare your tax return. Nevertheless, maybe you have an expanding company. You require somebody that can talk to you on employee issues, monitoring problems, accounting system established as well as layout. These are some points to think about when envisioning the level of commitment you need from your CPA.

I normally instructor my clients to create a wish list of things they want from us. Certainly, the even more dedication a client requires from us, the larger the interaction will certainly be, which will certainly raise costs. Beginning with the maximum and also working down, though, is always the most effective wager. We can train you on which products on your shopping list will certainly be the most impactful to your company as well as which ones could be less important.

So listing out those particular purposes you intend to accomplish with your Certified Public Accountant. “This is what I want out of that relationship.” Don’t be afraid to make that a pretty lengthy listing. What you intend to do is pretend money is no object. List everything that you want to get out of this relationship. From that setting, you can start to focus on that list and also say, “these 6 things are crucial in this relationship that I’m going to have.”.

Do I need a bookkeeper or an accountant for my business?
So how do you know who you require to work with? Should it be a bookkeeper, an accounting professional, or a Certified Public Accountant? What’s the difference? The most essential point is simply that you recognize that these documents are being maintained and that you feel great in the individual keeping them.

A bookkeeper maintains your audit records. They enter all transactions, and they balance your funds. Accounting professionals concentrate on financial resources, taxes, budgets, business procedures, payroll, as well as finance. Yet know this, there are different kinds of accounting professionals who specialize in numerous locations of business. In other words, if you damage your leg, do not go to the skin specialist.

You wish to make certain that you find the right person for your local business. Smoke Smoke Accountancy has accountants and accountants on staff. By doing this. When it pertains to monthly deal handling, our accountants can do it for a minimal charge. When we’re talking about finance and tax preparation, you have a Certified Public Accountant ready to action in.

What are the 5 types of accountants?
What is action primary of ending up being profitable in your organisation? You’re mosting likely to require an accounting professional. Now you do not have to employ us. You can employ in house. If you take part in residence, that should you get? There are a great deal of choices as well as various budgets out there that you need to be knowledgeable about. You do not wish to obtain the wrong person for the wrong task summary.

The very first person 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 quantity for he or she. If you stay in Idaho, as an example, you might be on the reduced end around 18 to $20,000 a year. Yet if you’re in New York or The Golden State, you could be upwards of 40,000 and even $45,000 a year for the same position. Know that he or she serves a specific duty. They’re not going to be strong at creating records for you or working analytics or accounting processes. Their task is to get information 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 several of the hefty dirty work of audit, which will certainly allow you to start assessing the reports. A bookkeeper is an excellent hire for anybody ready to increase their business, but not prepared to purchase the high leading rate accounting professionals just yet.

The next degree up people is the accounting professional. Now, a great deal of individuals think bookkeepers and accounting professionals are the same. They’re not. It’s extremely, really different. You’re going to pay a greater quantity for someone that’s an accountant. Your accountant has been placing information into the system all month long. Your accountant usually is assisting to supervise that procedure. After that, at the end of the month, your accountant will certainly do several of the even more hefty lifting tasks which need resolving your trial balance as well as making month-end journal entries. They will also do several of the amassing job that’s mosting likely to need to happen in your financials.

Sometimes, an accountant will certainly help create financial statements. They are at that month’s end placement. For an accounting professional, depending once again on where you live, you can expect to pay anywhere from perhaps $30k as much as $60k/year.

The following level up is the controller. The controller loads the process of supervising the whole audit system. They get to coordinate what’s occurring as well as when. They ensure the data is entering into the system on schedule, which the month and basic interests are occurring in a timely manner. The controller is accountable for the end product that’s coming out of the audit system. That is the annual report, the revenue statement, as well as the cash flow declaration. Those sort of documents rest on the shoulders of your controller. This is a more costly setting to load, as well as it must be. He or she needs to have a great deal of experience, should a minimum of a bachelor’s degree in accountancy, otherwise entering their master’s level. I would certainly anticipate to pay anywhere from $45k to $85k/year for he or she.

Now we’re going to speak about the King or queen in addition to the hill. This is your CFO. CFO stands for “chief financial officer.” They hold a C collection position in your firm. He or she’s expensive. You intend to be careful when you employ a CFO since not all CFOs are produced equivalent. Whatever up to this point has actually been task-related, focusing on simply journal entries as well as debiting and crediting. When you step into a CFO function, this requires strategic thinking. Not all accounting professionals have that ability. If they’re not able to see the big picture and also develop plans that are company growth relevant, they aren’t gotten the task. They must convert the job that the rest of the group is doing into goals for your firm. Your CFO needs to ensure that you’re hitting the targets you need to hit with the right amount of money behind each goal. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is usually what I have actually seen nationwide for someone of this caliber.

Lastly is the CPA. The Certified Public Accountant represents “cpa.” If you’ve started your business, you understand that you need a tax man, right? That’s the Certified Public Accountant. His job is to do 2 points. One is to prepare your tax method. That is to take every little thing you’re doing throughout the year and also prepare it to make sure that you are not spending more than you need to on tax obligations. That’s the primary objective. Nonetheless, a CPA frequently fills up the role of an auditor where they come in as an independent event. They make certain that your books are accurate and clean as well as reflective of what’s happening in the real world. In regards to cost, you’re going to spend anywhere in between $125 a hr to upwards of $450 an hour for a qualified Certified Public Accountant.

Contact Us

(844) 382-8160