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Oklahoma Cannabis Accounting

Puff Puff Accounting, serving Oklahoma, 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.

Oklahoma 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 certainly ways to handle your bookkeeping on your own as well as Do It Yourself it. Alternatives like QuickBooks have actually made this possible, however I warn you, if you are doing one of these two points, you probably need to allow someone else deal with it.

  1. If you are privately asking yourself if you’re even doing this right whatsoever, that’s a warning.
  2. If you’re refraining it whatsoever because well you do not know what to do as well as it’s overwhelming, that’s a substantial warning and it’s time to let a specialist take control of.
What are common ways accountants bill their clients?
Some Certified public accountants expense hourly, they charge you some bucks per hr relying on just how much time they put in. It’s likewise usual to charge dealt with charges for specific tasks. Your Certified Public Accountant could do your income tax return for one cost as well as prepare another price quote for the following task. An additional prominent rate structure is the annual set price contract. Your CPA could state, “I’m going to provide this range of services to you, and I’m mosting likely to give you limitless telephone call and endless conferences, and I’m mosting likely to do that all for $X quantity of dollars each year.” That buck quantity would probably be billed monthly. We generally advise relationships which are not per hour. Fixed charge billing urges interaction between the customer as well as the Certified Public Accountant. The more the CPA learns about the client’s business and their life as well as what’s taking place, the far better guidance they can offer. When clients are unpleasant with grabbing the phone, terrified they’re going to get a huge bill, they are less likely to pick the phone speak to their CPA when they have something on their mind.
What should I expect from my CPA?
What you must get out of your Certified Public Accountant depends a lot on your organisation goals. If you’re a really local business as well as you’re not planning to grow a lot in the near future, perhaps all you need is someone to prepare your income tax return. However, perhaps you have a growing service. You need somebody who can consult with you on worker issues, administration concerns, accounting system established and layout. These are some points to think about when thinking of the degree of commitment you need from your Certified Public Accountant. I generally train my customers to create a wish list of things they desire from us. Of course, the more commitment a client requires from us, the larger the engagement will be, which will certainly increase expenses. Starting from the optimum and working down, however, is always the most effective bet. We can coach you on which things on your shopping list will certainly be one of the most impactful to your organisation and also which ones might be less important. So listing out those particular objectives you want to complete with your CPA. “This is what I want out of that connection.” Don’t be afraid to make that a quite lengthy list. What you intend to do is pretend money is no object. Checklist whatever that you want to leave this connection. From that position, you can begin to focus on that list and also state, “these 6 things 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 need to hire? Should it be an accountant, an accounting professional, or a CPA? What’s the distinction? One of the most essential point is just that you know that these documents are being kept and that you feel great in the individual keeping them. An accountant maintains your audit records. They go into all transactions, and they balance your funds. Accountants specialize in finances, taxes, budgets, organisation procedures, pay-roll, and money management. Yet understand this, there are various sorts of accounting professionals that concentrate on different locations of organisation. To put it simply, if you break your leg, don’t go to the skin doctor. You wish to make certain that you find the right person for your local business. Smoke Smoke Accountancy has bookkeepers as well as accounting professionals on staff. By doing this. When it pertains to regular monthly purchase processing, our bookkeepers can do it for a lower charge. When we’re talking about finance and also tax obligation preparation, you have a Certified Public Accountant prepared to action in.
What are the 5 types of accountants?
What is step number one of coming to be lucrative in your business? You’re going to need an accounting professional. Currently you do not need to hire us. You can hire in residence. If you take part in house, that should you get? There are a great deal of choices as well as many different budget plans around that you need to be familiar with. You don’t want to obtain the wrong person for the wrong job summary. The very first person you’re mosting likely to hire is your bookkeeper. This is the information access specialist. Depending on where you live, you’re mosting likely to pay a different amount for he or she. If you reside in Idaho, for instance, you could be on the lower end around 18 to $20,000 a year. But 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 exact same placement. Know that he or she serves a details role. They’re not mosting likely to be strong at creating records for you or operating analytics or accounting procedures. Their task is to get information right 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 wise to offload several of the hefty grunt work of accountancy, which will allow you to start evaluating the reports. A bookkeeper is a good hire for any person ready to increase their organisation, but not prepared to buy the high leading rate accountants just yet. The next level up men is the accountant. Now, a great deal of individuals believe accountants as well as accountants coincide. They’re not. It’s really, extremely various. You’re going to pay a higher quantity for somebody that’s an accountant. Your accountant has actually been putting information into the system all month long. Your accounting professional usually is aiding to look after that process. After that, at the end of the month, your accountant will certainly do some of the more hefty training jobs which require resolving your test equilibrium and also making month-end journal access. They will certainly also do a few of the accrual job that’s going to require to take place in your financials. In many cases, an accounting professional will aid create financial statements. They go to that month’s end setting. For an accountant, depending once again on where you live, you can expect to pay anywhere from maybe $30k approximately $60k/year. The next level up is the controller. The controller loads the procedure of looking after the entire bookkeeping system. They get to orchestrate what’s taking place as well as when. They make sure the data is getting involved in the system on schedule, which the month and basic interests are occurring on time. The controller is in charge of the final product that’s coming out of the accounting system. That is the annual report, the earnings declaration, and the capital declaration. Those kinds of documents rest on the shoulders of your controller. This is a more costly setting to fill up, as well as it ought to be. This person requires to have a great deal of experience, must at the very least a bachelor’s level in accounting, otherwise getting involved in their master’s level. I would certainly expect to pay anywhere from $45k to $85k/year for this person. Currently we’re going to speak about the King or queen in addition to the hill. This is your CFO. CFO represents “primary financial officer.” They hold a C suite placement in your business. He or she’s expensive. You intend to beware when you hire a CFO since not all CFOs are developed equivalent. Every little thing up to this factor has been task-related, concentrating on simply journal entries as well as debiting and also crediting. When you enter a CFO function, this calls for strategic reasoning. Not all accounting professionals have that capacity. If they’re not able to see the big picture and also produce strategies that are service growth relevant, they aren’t gotten the work. They need to convert the work that the rest of the team is doing into goals for your firm. Your CFO requires to see to it that you’re striking the targets you require to hit with the right 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 across the country for someone of this quality. Lastly is the Certified Public Accountant. The Certified Public Accountant stands for “state-licensed accountant.” If you’ve begun your firm, you know that you need a tax man, right? That’s the Certified Public Accountant. His job is to do two points. One is to prepare your tax strategy. That is to take everything you’re doing throughout the year and also prepare it so that you are not investing more than you require to on tax obligations. That’s the primary goal. However, a CPA usually loads the function of an auditor where they come in as an independent event. They make sure that your books are exact and also tidy and also reflective of what’s occurring in the real world. In terms of cost, you’re going to invest anywhere in between $125 an hour to upwards of $450 an hour for a certified CPA.

Contact Us

(833) 319-0797