Select Page

North Carolina Cannabis Accounting

Puff Puff Accounting, serving North Carolina, 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.

R

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.
R

We're Affordable

When we work with small cannabis businesses, basically we become their affordable in house CFO.
R

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.

%

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.

North Carolina 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.
n

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

[email protected]

Frequently Asked

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

There are certainly means to take on your accounting on your own and DIY it. Options like QuickBooks have actually made this possible, but I advise you, if you are doing one of these 2 points, you most likely need to let another person deal with 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 not doing it at all because well you do not know what to do and it’s overwhelming, that’s a significant red flag and also it’s time to let a specialist take over.
What are common ways accountants bill their clients?
Some CPAs costs per hour, they bill you some dollars per hour depending on just how much time they put in. It’s likewise typical to bill taken care of costs for private jobs. Your Certified Public Accountant could do your tax return for one price and also prepare one more price quote for the next project. Another prominent cost framework is the annual set rate contract. Your Certified Public Accountant might say, “I’m mosting likely to supply this range of solutions to you, and I’m going to offer you unlimited telephone call and unrestricted conferences, as well as I’m going to do that all for $X quantity of dollars each year.” That buck amount would certainly more than likely be billed monthly.

We commonly suggest relationships which are not per hour. Dealt with cost invoicing motivates communication between the client as well as the CPA. The more the CPA learns about the client’s organisation and their life as well as what’s taking place, the much better suggestions they can offer. When customers are uncomfortable with picking up the phone, afraid they’re going to get a big bill, they are less likely to select the phone speak with 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 great deal on your service goals. If you’re a very local business as well as you’re not intending to grow much in the future, possibly all you need is a person to prepare your tax return. However, maybe you have an expanding organisation. You require somebody who can speak with you on employee issues, monitoring issues, accounting system set up and also style. These are some points to take into consideration when thinking of the degree of commitment you need from your Certified Public Accountant.

I commonly coach my customers to assemble a want list of things they want from us. Of course, the even more dedication a client requires from us, the larger the engagement will certainly be, which will certainly enhance costs. Starting from the optimum and working down, however, is always the very best wager. We can coach you on which items on your wish list will certainly be the most impactful to your service and which ones could be lesser.

So checklist out those specific purposes you want to complete with your Certified Public Accountant. “This is what I want out of that partnership.” Don’t hesitate to make that a rather long checklist. What you intend to do is pretend money is no object. List everything that you want to leave this connection. From that placement, you can begin to prioritize that list and also say, “these six points are most important in this relationship that I’m going to have.”.

Do I need a bookkeeper or an accountant for my business?
So just how do you know who you require to work with? Should it be a bookkeeper, an accountant, or a CPA? What’s the distinction? The most important point is simply that you recognize that these documents are being kept and that you feel confident in the person maintaining them.

A bookkeeper preserves your accountancy records. They go into all transactions, and also they balance your funds. Accountants specialize in financial resources, tax obligations, budgets, organisation operations, pay-roll, as well as finance. But know this, there are different sorts of accounting professionals that specialize in different areas of business. Simply put, if you break your leg, do not go to the dermatologist.

You wish to see to it that you locate the best individual for your local business. Puff Smoke Audit has accountants and accountants on team. By doing this. When it concerns regular monthly transaction handling, our accountants can do it for a minimal fee. When we’re discussing finance and tax obligation preparation, you have a CPA ready to action in.

What are the 5 types of accountants?
What is step number one of becoming rewarding in your service? You’re going to need an accounting professional. Currently you don’t need to hire us. You can work with in residence. If you take part in house, who should you get? There are a lot of options as well as several spending plans available that you require to be aware of. You don’t want to obtain the wrong person for the incorrect task description.

The first individual you’re mosting likely to work with is your bookkeeper. This is the information entry professional. Relying on where you live, you’re mosting likely to pay a various quantity for this person. If you live in Idaho, for instance, you might be on the lower end around 18 to $20,000 a year. But if you’re in New York or The Golden State, you could be upwards of 40,000 or perhaps $45,000 a year for the very same setting. Know that he or she offers a certain role. They’re not going to be solid at creating records for you or doing business analytics or accounting processes. Their work is to get information into the system. And if you’re a brand-new business owner, likely, you have actually been doing this yourself. It’s smart to offload a few of the hefty grunt work of audit, which will permit you to start examining the records. An accountant is a good hire for anyone prepared to broaden their business, but not prepared to invest in the high top tier accounting professionals right now.

The following level up guys is the accounting professional. Currently, a lot of people believe accountants and also accountants are the same. They’re not. It’s very, extremely various. You’re going to pay a greater amount for someone that’s an accountant. Your accountant has been placing data into the system all month long. Your accounting professional commonly is aiding to oversee that process. After that, at the end of the month, your accountant will certainly do a few of the even more heavy training tasks which need integrating your test equilibrium and also making month-end journal entries. They will certainly also do some of the amassing job that’s mosting likely to require to occur in your financials.

Sometimes, an accountant will help develop economic statements. They are at that month’s end setting. For an accountant, depending again on where you live, you can anticipate to pay anywhere from perhaps $30k approximately $60k/year.

The following degree up is the controller. The controller fills the process of managing the whole accountancy system. They reach manage what’s happening as well as when. They make sure the data is entering the system promptly, and that the month and general passions are happening on time. The controller is responsible for the final product that’s appearing of the bookkeeping system. That is the annual report, the earnings statement, as well as the capital declaration. Those type of records hinge on the shoulders of your controller. This is an extra pricey position to load, and also it needs to be. This person needs to have a great deal of experience, must at least a bachelor’s level in accounting, if not entering into their master’s degree. I would expect to pay anywhere from $45k to $85k/year for he or she.

Currently we’re mosting likely to talk about the King or queen on top of the mountain. This is your CFO. CFO means “primary financial officer.” They hold a C collection placement in your business. He or she’s costly. You intend to be careful when you hire a CFO due to the fact that not all CFOs are produced equivalent. Every little thing up to this point has been task-related, concentrating on just journal access as well as debiting as well as crediting. When you enter a CFO duty, this needs strategic thinking. Not all accounting professionals have that capability. If they’re not able to see the big picture and develop plans that are service growth related, they aren’t gotten the task. They need to convert the job that the rest of the group is doing into objectives for your company. Your CFO requires to make certain that you’re hitting the targets you require to hit with the correct amount of cash behind each goal. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is typically what I’ve seen nationwide for somebody of this quality.

Last but not least is the Certified Public Accountant. The Certified Public Accountant represents “certified public accountant.” If you’ve begun your business, you know 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 obligation method. That is to take every little thing you’re doing throughout the year and prepare it to make sure that you are not spending greater than you require to on taxes. That’s the main goal. However, a Certified Public Accountant commonly fills the role of an auditor where they come in as an independent party. They see to it that your publications are precise and clean as well as reflective of what’s happening in the real world. In terms of cost, you’re mosting likely to invest anywhere in between $125 a hr to upwards of $450 an hour for a qualified CPA.

Contact Us

(844) 382-8160