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New Jersey Cannabis Accounting

Puff Puff Accounting, serving New Jersey, 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.

New Jersey 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 means to take on your accounting yourself as well as Do It Yourself it. Alternatives like QuickBooks have actually made this possible, but I advise you, if you are doing one of these 2 things, you probably need to let somebody else deal with it.

  1. If you are privately questioning if you’re also doing this right in any way, that’s a red flag.
  2. If you’re refraining from doing it in all because well you don’t understand what to do as well as it’s frustrating, that’s a huge red flag and it’s time to let a professional take control of.
What are common ways accountants bill their clients?
Some CPAs costs per hour, they bill you some bucks per hour depending upon just how much time they place in. It’s also typical to bill fixed fees for specific projects. Your CPA could do your tax return for one rate and also prepare another price quote for the following task. One more preferred cost framework is the yearly fixed cost contract. Your Certified Public Accountant might claim, “I’m going to provide this series of solutions to you, and I’m going to give you unrestricted phone calls and also unlimited meetings, and I’m going to do that all for $X quantity of dollars annually.” That dollar amount would more than likely be billed monthly. We usually advise connections which are not hourly. Repaired charge payment motivates interaction between the client and the Certified Public Accountant. The more the Certified Public Accountant understands about the customer’s organisation and also their life and what’s taking place, the much better advice they can give. When clients are unpleasant with grabbing the phone, worried they’re going to get a huge costs, they are much less likely to pick 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 CPA depends a whole lot on your company purposes. If you’re a very small business and also you’re not intending to expand much in the near future, perhaps all you need is somebody to prepare your income tax return. Nonetheless, perhaps you have an expanding business. You need a person that can seek advice from you on worker matters, monitoring problems, accounting system established and also layout. These are some points to take into consideration when thinking of the degree of commitment you require from your Certified Public Accountant. I normally train my customers to put together a shopping list of points they desire from us. Obviously, the more dedication a client needs from us, the larger the involvement will be, which will certainly enhance expenses. Starting from the optimum as well as functioning down, however, is constantly the very best bet. We can instructor you on which items on your shopping list will certainly be one of the most impactful to your business as well as which ones could be lesser. So list out those particular purposes you intend to achieve with your CPA. “This is what I want out of that connection.” Do not hesitate to make that a rather lengthy listing. What you wish to do is pretend money is no item. List every little thing that you want to get out of this relationship. From that placement, you can start to focus on that checklist and state, “these 6 things are most important in this relationship 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 work with? Should it be a bookkeeper, an accountant, or a CPA? What’s the difference? One of the most important thing is simply that you understand that these documents are being maintained and that you feel confident in the person keeping them. A bookkeeper maintains your accountancy records. They go into all purchases, and they stabilize your funds. Accounting professionals focus on finances, tax obligations, spending plans, service procedures, pay-roll, and money management. Yet know this, there are various sorts of accounting professionals that focus on numerous areas of business. To put it simply, if you break your leg, do not most likely to the skin doctor. You want to see to it that you find the appropriate individual for your small business. Puff Puff Accountancy has accountants as well as accountants on staff. By doing this. When it involves month-to-month transaction handling, our accountants can do it for a lower cost. When we’re speaking about money management and also tax obligation planning, you have a CPA ready to step in.
What are the 5 types of accountants?
What is step number one of coming to be rewarding in your organisation? You’re going to need an accountant. Currently you do not need to hire us. You can hire in home. If you engage in residence, who should you get? There are a great deal of options as well as several budgets out there that you require to be familiar with. You do not wish to get the wrong individual for the incorrect job summary. The first person you’re mosting likely to hire is your bookkeeper. This is the data access expert. Relying on where you live, you’re going to pay a various quantity for this person. If you reside in Idaho, for example, you may be on the lower end around 18 to $20,000 a year. Yet if you remain in New York or The Golden State, you could be upwards of 40,000 and 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 developing reports for you or doing business analytics or accounting processes. Their task is to obtain information into the system. As well as if you’re a new entrepreneur, likely, you have actually been doing this on your own. It’s smart to unload some of the heavy grunt work of bookkeeping, which will allow you to begin analyzing the reports. A bookkeeper is an excellent hire for anyone prepared to broaden their organisation, however not prepared to invest in the high leading rate accounting professionals just yet. The following degree up guys is the accountant. Currently, a lot of people think accountants as well as accountants are the same. They’re not. It’s extremely, very various. You’re mosting likely to pay a greater quantity for somebody that’s an accountant. Your accountant has been putting data into the system all month long. Your accountant generally is helping to manage that procedure. Then, at the end of the month, your accounting professional will certainly do some of the more hefty lifting tasks which need resolving your test balance as well as making month-end journal entrances. They will likewise do several of the amassing job that’s mosting likely to need to occur in your financials. In some cases, an accountant will assist develop economic declarations. They go to that month’s end placement. For an accounting professional, depending again on where you live, you can expect to pay anywhere from possibly $30k approximately $60k/year. The next degree up is the controller. The controller fills the procedure of looking after the whole accountancy system. They reach orchestrate what’s occurring and also when. They make sure the data is entering into the system in a timely manner, and that the month and also general interests are happening promptly. The controller is in charge of the final product that’s appearing of the bookkeeping system. That is the annual report, the earnings declaration, and the cash flow declaration. Those sort of records hinge on the shoulders of your controller. This is an extra costly setting to fill up, and also it should be. He or she requires to have a great deal of experience, should a minimum of a bachelor’s degree in audit, otherwise entering their master’s level. I would anticipate to pay anywhere from $45k to $85k/year for this person. Currently we’re going to discuss the King or queen on top of the hill. This is your CFO. CFO represents “primary financial officer.” They hold a C suite position in your firm. This person’s costly. You wish to take care when you employ a CFO since not all CFOs are developed equivalent. Whatever up to this point has actually been task-related, focusing on just journal access and debiting as well as crediting. When you step into a CFO role, this calls for strategic reasoning. Not all accountants have that capacity. If they’re not able to see the big picture as well as develop plans that are business development related, they aren’t gotten the job. They ought to translate the job that the rest of the team is doing into goals for your business. Your CFO requires to make certain that you’re hitting the targets you require to hit with the correct amount of money behind each objective. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is commonly what I have actually seen nationwide for somebody of this quality. Last but not least is the Certified Public Accountant. The CPA means “state-licensed accountant.” If you’ve begun your firm, you know that you require a tax obligation individual, right? That’s the CPA. His work is to do 2 points. One is to prepare your tax obligation approach. That is to take whatever you’re doing throughout the year as well as prepare it to ensure that you are not investing more than you need to on taxes. That’s the main objective. Nevertheless, a Certified Public Accountant commonly fills up the duty of an auditor where they are available in as an independent party. They make sure that your publications are accurate and also tidy and reflective of what’s taking place in the real world. In terms of price, you’re mosting likely to invest anywhere between $125 a hr to upwards of $450 a hr for a certified CPA.

Contact Us

(833) 319-0797