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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 – (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.

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.
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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 absolutely methods to take on your audit on your own and DIY it. Alternatives like QuickBooks have actually made this possible, yet I caution you, if you are doing one of these 2 things, you most likely require to let another person take care of it.

  1. If you are covertly wondering if you’re also doing this right at all, that’s a red flag.
  2. If you’re not doing it in all because well you do not understand what to do and it’s overwhelming, that’s a huge red flag and it’s time to allow an expert take over.
What are common ways accountants bill their clients?
Some CPAs bill hourly, they charge you some bucks per hr depending upon how much time they place in. It’s also typical to charge dealt with charges for individual jobs. Your CPA might do your income tax return for one price and also prepare one more estimate for the following job. An additional popular price structure is the yearly set cost agreement. Your CPA might say, “I’m mosting likely to offer this range of services to you, and also I’m mosting likely to offer you unlimited telephone call as well as unlimited meetings, as well as I’m mosting likely to do that all for $X amount of dollars annually.” That buck quantity would more than likely be billed monthly. We normally recommend partnerships which are not per hour. Repaired charge invoicing urges interaction in between the client as well as the Certified Public Accountant. The more the CPA knows about the customer’s business and their life as well as what’s taking place, the far better recommendations they can provide. When customers are awkward with getting the phone, afraid they’re going to get a huge expense, they are less most likely to choose the phone speak with their CPA when they have something on their mind.
What should I expect from my CPA?
What you ought to get out of your CPA depends a great deal on your service goals. If you’re an extremely small business and also you’re not planning to grow a lot in the future, possibly all you need is a person to prepare your tax return. Nonetheless, possibly you have a growing organisation. You need someone that can consult with you on worker issues, monitoring concerns, accounting system set up and design. These are some points to think about when picturing the level of commitment you require from your Certified Public Accountant. I normally trainer my clients to assemble a wish list of things they want from us. Certainly, the more dedication a client needs from us, the bigger the interaction will be, which will certainly raise prices. Beginning with the optimum as well as functioning down, though, is constantly the most effective wager. We can train you on which things on your shopping list will be the most impactful to your service and also which ones might be lesser. So listing out those particular objectives you intend to complete with your Certified Public Accountant. “This is what I desire out of that partnership.” Do not be afraid to make that a quite long list. What you want to do is pretend money is no object. Checklist everything that you desire to leave this partnership. From that position, you can start to focus on that list and say, “these six points are most important in this connection that I’m going to have.”.
Do I need a bookkeeper or an accountant for my business?
So exactly how do you know who you require to work with? Should it be a bookkeeper, an accounting professional, or a CPA? What’s the difference? The most essential point is simply that you know that these records are being maintained which you feel great in the individual maintaining them. A bookkeeper keeps your bookkeeping records. They enter all purchases, and they stabilize your funds. Accounting professionals focus on finances, tax obligations, spending plans, service procedures, pay-roll, and money management. However understand this, there are various kinds of accountants who focus on various areas of organisation. Simply put, if you break your leg, do not go to the skin doctor. You want to ensure that you locate the ideal individual for your local business. Smoke Puff Bookkeeping has bookkeepers and also accounting professionals on team. By doing this. When it involves monthly purchase processing, our accountants can do it for a lower cost. When we’re speaking about money management and also tax obligation preparation, you have a CPA ready to step in.
What are the 5 types of accountants?
What is action primary of becoming rewarding in your service? You’re going to need an accountant. Currently you do not need to employ us. You can hire in house. If you engage in home, that should you obtain? There are a great deal of alternatives and also many different spending plans around that you need to be familiar with. You don’t wish to get the wrong individual for the wrong job description. The very first person you’re mosting likely to hire is your bookkeeper. This is the information entry specialist. Relying on where you live, you’re mosting likely to pay a different amount for he or she. If you stay in Idaho, for example, you may 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 perhaps $45,000 a year for the same position. Know that this person offers a particular duty. They’re not going to be solid at producing reports for you or doing business analytics or accounting processes. Their work is to get information right into the system. And if you’re a brand-new entrepreneur, likely, you’ve been doing this yourself. It’s clever to unload several of the hefty grunt work of bookkeeping, which will enable you to begin analyzing the reports. A bookkeeper is an excellent hire for anybody all set to expand their service, however not prepared to purchase the high leading rate accounting professionals just yet. The next level up people is the accountant. Now, a lot of people believe accountants and also accountants are the same. They’re not. It’s extremely, really different. You’re mosting likely to pay a greater amount for someone that’s an accounting professional. Your accountant has actually been putting data right into the system all month long. Your accountant generally is assisting to manage that procedure. After that, at the end of the month, your accountant will certainly do some of the even more hefty training tasks which require integrating your test equilibrium as well as making month-end journal entries. They will certainly likewise do a few of the accrual job that’s going to require to take place in your financials. Sometimes, an accountant will assist develop monetary statements. They are at that month’s end position. For an accountant, depending once more on where you live, you can anticipate to pay anywhere from perhaps $30k approximately $60k/year. The next degree up is the controller. The controller fills up the process of managing the entire bookkeeping system. They get to coordinate what’s taking place as well as when. They make sure the data is getting involved in the system in a timely manner, which the month and general passions are happening on schedule. The controller is in charge of the final product that’s appearing of the bookkeeping system. That is the balance sheet, the earnings statement, as well as the capital declaration. Those kinds of files hinge on the shoulders of your controller. This is an extra pricey setting to fill up, and also it needs to be. He or she needs to have a lot of experience, need to a minimum of a bachelor’s degree in audit, if not entering into their master’s level. I would certainly anticipate to pay anywhere from $45k to $85k/year for he or she. Now we’re mosting likely to discuss the King or queen in addition to the hill. This is your CFO. CFO stands for “primary financial officer.” They hold a C suite placement in your company. He or she’s costly. You wish to beware when you employ a CFO because not all CFOs are developed equal. Every little thing as much as this factor has actually been task-related, concentrating on just journal access as well as debiting as well as attributing. When you enter a CFO role, this needs tactical reasoning. Not all accounting professionals have that ability. If they’re not able to see the big picture as well as create strategies that are service development associated, they aren’t gotten approved for the task. They ought to convert the work that the rest of the group is doing into objectives for your business. Your CFO needs to ensure that you’re hitting the targets you require to hit with the correct amount of money behind each goal. For a CFO, you can anticipate to pay anywhere from $75k to $250k/year. That is usually what I have actually seen across the country for somebody of this quality. Finally is the CPA. The Certified Public Accountant means “state-licensed accountant.” If you’ve started your company, you understand that you require a tax obligation guy, right? That’s the Certified Public Accountant. His job is to do two things. One is to prepare your tax obligation method. That is to take whatever you’re doing throughout the year and also prepare it so that you are not investing greater than you require to on taxes. That’s the major objective. However, a Certified Public Accountant commonly fills the duty of an auditor where they come in as an independent party. They make sure that your books are precise and also clean as well as reflective of what’s happening in the real life. In terms of expense, you’re mosting likely to spend anywhere in between $125 an hour to upwards of $450 a hr for a qualified Certified Public Accountant.

Contact Us

(833) 319-0797