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Nevada Cannabis Accounting

Puff Puff Accounting, serving Nevada, 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.

Nevada 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.

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Frequently Asked

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

There are definitely ways to handle your accounting yourself as well as Do It Yourself it. Alternatives like QuickBooks have actually made this possible, but I warn you, if you are doing one of these two things, you probably require to allow somebody else care for it.

  1. If you are secretly wondering if you’re even doing this right in all, that’s a red flag.
  2. If you’re refraining it in any way because well you do not recognize what to do as well as it’s overwhelming, that’s a substantial warning and also it’s time to allow an expert take over.
What are common ways accountants bill their clients?
Some CPAs costs per hour, they bill you some bucks per hour relying on just how much time they place in. It’s additionally typical to charge dealt with costs for private projects. Your CPA might do your income tax return for one cost and prepare another estimate for the next project. An additional popular cost framework is the yearly fixed cost contract. Your CPA could state, “I’m mosting likely to give this variety of services to you, and also I’m going to offer you unrestricted call and also limitless conferences, and I’m going to do that all for $X quantity of dollars annually.” That dollar amount would certainly more than likely be billed monthly. We commonly suggest relationships which are not per hour. Fixed charge invoicing encourages interaction between the customer and the Certified Public Accountant. The more the CPA finds out about the client’s business and their life and what’s going on, the better recommendations they can offer. When clients are uneasy with grabbing the phone, afraid they’re going to get a huge costs, they are much less 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 get out of your CPA depends a great deal on your business objectives. If you’re an extremely small company and also you’re not planning to grow a lot in the future, maybe all you need is a person to prepare your income tax return. Nonetheless, possibly you have a growing company. You need somebody who can talk to you on worker issues, monitoring concerns, accounting system set up and style. These are some things to consider when imagining the level of commitment you need from your Certified Public Accountant. I typically coach my clients to assemble a wish list of points they desire from us. Naturally, the more commitment a client needs from us, the larger the interaction will certainly be, which will enhance prices. Starting from the maximum and working down, however, is always the best wager. We can coach you on which products on your wish list will certainly be the most impactful to your organisation as well as which ones might be less important. So list out those details goals you intend to accomplish with your Certified Public Accountant. “This is what I desire out of that partnership.” Do not hesitate to make that a pretty lengthy listing. What you wish to do is pretend money is no object. List everything that you desire to get out of this partnership. From that placement, you can begin to prioritize that listing and also state, “these six things are crucial in this partnership 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 need to hire? Should it be an accountant, an accounting professional, or a Certified Public Accountant? What’s the difference? One of the most important thing is simply that you recognize that these documents are being maintained and that you feel great in the individual maintaining them. An accountant keeps your accountancy documents. They go into all purchases, and also they stabilize your funds. Accountants focus on finances, tax obligations, budgets, organisation procedures, payroll, and money management. But know this, there are various sorts of accounting professionals that concentrate on various locations of business. To put it simply, if you break your leg, do not go to the skin doctor. You wish to ensure that you find the right person for your small company. Puff Puff Accounting has accountants and also accountants on personnel. This way. When it involves regular monthly purchase processing, our accountants can do it for a minimal charge. When we’re speaking about finance and tax planning, you have a Certified Public Accountant ready to action in.
What are the 5 types of accountants?
What is step number one of coming to be profitable in your business? You’re mosting likely to need an accounting professional. Currently you don’t have to employ us. You can work with in house. If you participate in house, that should you get? There are a great deal of choices and also several spending plans available that you require to be familiar with. You don’t want to obtain the incorrect individual for the incorrect work summary. The very first individual you’re mosting likely to hire is your accountant. This is the information entry professional. Relying on where you live, you’re going to pay a various amount for he or she. If you stay in Idaho, for example, you might be on the lower end around 18 to $20,000 a year. However if you remain in New York or The Golden State, you could be upwards of 40,000 or even $45,000 a year for the very same position. Know that he or she serves a certain function. They’re not going to be strong at creating records for you or doing business analytics or accounting procedures. Their job is to get data into the system. As well as if you’re a brand-new entrepreneur, likely, you have actually been doing this on your own. It’s smart to unload several of the heavy grunt work of accounting, which will enable you to begin analyzing the reports. A bookkeeper is a good hire for anyone ready to increase their business, but not prepared to purchase the high top tier accounting professionals just yet. The next degree up guys is the accounting professional. Currently, a lot of individuals think bookkeepers and accountants coincide. They’re not. It’s very, really various. You’re mosting likely to pay a greater amount for somebody that’s an accountant. Your bookkeeper has actually been placing data into the system all month long. Your accounting professional typically is helping to oversee that process. After that, at the end of the month, your accountant will do a few of the more hefty training jobs which require integrating your trial equilibrium and also making month-end journal access. They will certainly also do some of the accrual work that’s mosting likely to need to take place in your financials. In many cases, an accountant will certainly help create economic declarations. They are at that month’s end setting. For an accountant, depending once again on where you live, you can anticipate to pay anywhere from maybe $30k up to $60k/year. The following level up is the controller. The controller loads the process of managing the entire audit system. They reach coordinate what’s taking place and also when. They ensure the data is entering the system on time, and that the month as well as general rate of interests are taking place promptly. The controller is responsible for the end product that’s appearing of the accountancy system. That is the balance sheet, the revenue declaration, and also the capital statement. Those type of records rest on the shoulders of your controller. This is a more costly setting to fill, and also it should be. This person requires to have a great deal of experience, ought to at least a bachelor’s level in accountancy, otherwise getting involved in their master’s level. I would certainly expect to pay anywhere from $45k to $85k/year for he or she. Now we’re going to talk about the King or queen in addition to the mountain. This is your CFO. CFO represents “chief financial officer.” They hold a C suite placement in your firm. He or she’s costly. You intend to beware when you work with a CFO because not all CFOs are created equivalent. Every little thing up to this point has actually been task-related, focusing on just journal access as well as debiting and attributing. When you step into a CFO function, this requires critical thinking. Not all accounting professionals have that capacity. If they’re unable to see the big picture and also produce strategies that are service development associated, they aren’t qualified for the work. They ought to translate the job that the remainder of the group is doing into objectives for your company. Your CFO needs to ensure that you’re striking the targets you require to hit with the correct amount of cash behind each objective. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is usually what I have actually seen across the country for someone of this caliber. Lastly is the Certified Public Accountant. The Certified Public Accountant means “state-licensed accountant.” If you’ve begun your firm, you recognize that you require a tax obligation individual, right? That’s the CPA. His job is to do two things. One is to prepare your tax obligation strategy. That is to take whatever you’re doing throughout the year and prepare it to ensure that you are not investing greater than you require to on tax obligations. That’s the primary goal. Nevertheless, a Certified Public Accountant often fills up the role of an auditor where they are available in as an independent event. They ensure that your books are precise as well as tidy as well as reflective of what’s occurring in the real world. In regards to cost, you’re going to spend anywhere between $125 a hr to upwards of $450 a hr for a qualified Certified Public Accountant.

Contact Us

(833) 319-0797