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North Dakota Cannabis Accounting

Puff Puff Accounting, serving North Dakota, 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.

North Dakota 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

[email protected]

Frequently Asked

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

There are absolutely means to handle your accounting on your own and also Do It Yourself it. Options like QuickBooks have actually made this possible, however I warn you, if you are doing among these two things, you most likely require to let somebody else look after it.

  1. If you are privately wondering if you’re also doing this right whatsoever, that’s a red flag.
  2. If you’re refraining it in any way because well you do not recognize what to do and also it’s frustrating, that’s a huge warning and also it’s time to let a specialist take control of.
What are common ways accountants bill their clients?
Some CPAs bill hourly, they bill you some bucks per hr depending upon just how much time they put in. It’s also usual to bill repaired charges for individual tasks. Your Certified Public Accountant could do your income tax return for one cost as well as prepare an additional estimate for the following job. Another prominent rate framework is the yearly set cost contract. Your CPA could say, “I’m going to supply this variety of solutions to you, as well as I’m mosting likely to give you unlimited telephone call as well as unlimited conferences, and also I’m mosting likely to do that all for $X quantity of bucks each year.” That dollar quantity would most likely be billed monthly.

We commonly advise connections which are not per hour. Fixed charge payment urges communication in between the customer as well as the Certified Public Accountant. The more the Certified Public Accountant finds out about the client’s business as well as their life and what’s taking place, the far better guidance they can give. When clients are uncomfortable with picking up the phone, afraid they’re going to get a huge bill, they are less likely to select the phone talk to their CPA when they have something on their mind.

What should I expect from my CPA?
What you should expect from your CPA depends a great deal on your service objectives. If you’re a really local business as well as you’re not preparing to expand much in the future, perhaps all you require is somebody to prepare your tax return. Nonetheless, probably you have an expanding organisation. You require somebody that can consult with you on worker matters, monitoring issues, accounting system established and design. These are some points to think about when picturing the level of dedication you need from your CPA.

I normally train my customers to create a want list of things they desire from us. Certainly, the more commitment a client needs from us, the larger the interaction will certainly be, which will enhance costs. Starting from the optimum and working down, though, is constantly the best bet. We can coach you on which things on your want list will certainly be one of the most impactful to your company and which ones may be less important.

So listing out those specific purposes you wish to complete with your CPA. “This is what I desire out of that relationship.” Don’t hesitate to make that a rather long checklist. What you want to do is pretend cash is no things. Listing everything that you wish to leave this partnership. From that setting, you can begin to focus on that list and state, “these six points are crucial in this connection 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 accounting professional, or a CPA? What’s the difference? The most important thing is simply that you know that these records are being kept which you feel confident in the individual keeping them.

A bookkeeper maintains your bookkeeping documents. They go into all transactions, and also they balance your funds. Accounting professionals specialize in funds, tax obligations, budget plans, organisation operations, pay-roll, as well as money management. However understand this, there are different sorts of accounting professionals that focus on different areas of business. Simply put, if you break your leg, do not most likely to the skin doctor.

You intend to see to it that you discover the best individual for your small business. Smoke Puff Accountancy has bookkeepers and also accounting professionals on staff. By doing this. When it pertains to regular monthly purchase handling, our bookkeepers can do it for a lesser fee. When we’re talking about finance and tax obligation preparation, you have a Certified Public Accountant all set to action in.

What are the 5 types of accountants?
What is step number one of ending up being successful in your service? You’re going to require an accountant. Now you don’t have to hire us. You can employ in home. If you participate in home, who should you get? There are a lot of options as well as many different budget plans out there that you require to be knowledgeable about. You don’t intend to get the wrong person for the wrong task description.

The first person you’re mosting likely to work with is your accountant. This is the data entry professional. Depending upon where you live, you’re mosting likely to pay a different amount for he or she. If you live in Idaho, for example, you might be on the lower end around 18 to $20,000 a year. But if you remain in New York City or The Golden State, you could be upwards of 40,000 or even $45,000 a year for the same setting. Know that he or she serves a particular role. They’re not going to be solid at producing reports for you or working analytics or accounting procedures. Their job is to obtain information into the system. And if you’re a new entrepreneur, likely, you have actually been doing this on your own. It’s clever to unload some of the heavy grunt work of bookkeeping, which will certainly enable you to start evaluating the records. A bookkeeper is a great hire for anyone prepared to increase their organisation, but not prepared to invest in the high leading tier accountants just yet.

The following level up individuals is the accountant. Currently, a lot of individuals believe bookkeepers and accountants coincide. They’re not. It’s really, very different. You’re going to pay a higher quantity for somebody that’s an accountant. Your accountant has actually been placing data into the system all month long. Your accountant normally is helping to look after that process. Then, at the end of the month, your accountant will certainly do some of the even more heavy training tasks which call for resolving your test equilibrium as well as making month-end journal entries. They will also do some of the accrual job that’s mosting likely to require to happen in your financials.

In many cases, an accountant will aid create economic declarations. They are at that month’s end placement. For an accountant, depending once more on where you live, you can expect to pay anywhere from perhaps $30k approximately $60k/year.

The next degree up is the controller. The controller loads the process of looking after the whole audit system. They reach manage what’s taking place and when. They see to it the information is getting into the system in a timely manner, which the month and also basic passions are taking place on schedule. The controller is accountable for the final product that’s coming out of the audit system. That is the annual report, the revenue declaration, and the capital statement. Those kinds of records hinge on the shoulders of your controller. This is a more costly position to fill, and also it must be. This person needs to have a lot of experience, must a minimum of a bachelor’s level in accountancy, otherwise getting involved in their master’s degree. I would certainly anticipate to pay anywhere from $45k to $85k/year for this person.

Now we’re mosting likely to speak about the King or queen in addition to the hill. This is your CFO. CFO means “chief financial officer.” They hold a C suite setting in your firm. This person’s pricey. You intend to take care when you work with a CFO since not all CFOs are developed equivalent. Everything up to this factor has actually been task-related, concentrating on simply journal entries and also debiting as well as crediting. When you enter a CFO duty, this requires critical reasoning. Not all accountants have that capacity. If they’re unable to see the big picture and also produce strategies that are company advancement associated, they aren’t qualified for the work. They should equate the work that the remainder of the team 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 objective. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is commonly what I’ve seen nationwide for someone of this quality.

Last but not least is the CPA. The CPA means “certified public accountant.” If you’ve started your business, you understand that you require a tax obligation person, right? That’s the CPA. His task is to do two things. One is to prepare your tax strategy. That is to take every little thing 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 goal. Nevertheless, a CPA typically fills the role of an auditor where they can be found in as an independent party. They see to it that your books are exact and also tidy and also reflective of what’s taking place 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

(844) 382-8160