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Pennsylvania Cannabis Accounting

Puff Puff Accounting, serving Pennsylvania, 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.

Pennsylvania 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

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Frequently Asked

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

There are absolutely means to take on your accountancy yourself and DIY it. Alternatives like QuickBooks have actually made this possible, however I advise you, if you are doing among these two things, you probably need to let another person look after it.

  1. If you are secretly questioning if you’re even doing this right in all, that’s a warning.
  2. If you’re refraining it in all because well you don’t understand what to do and also it’s overwhelming, that’s a significant red flag and it’s time to let an expert take over.
What are common ways accountants bill their clients?
Some CPAs costs hourly, they bill you some dollars per hr depending on just how much time they place in. It’s also typical to charge fixed costs for private jobs. Your CPA may do your tax return for one price and also prepare one more quote for the next task. An additional popular cost structure is the annual set cost agreement. Your CPA might claim, “I’m going to give this variety of solutions to you, and I’m mosting likely to offer you unrestricted phone calls and unrestricted conferences, as well as I’m going to do that all for $X quantity of bucks each year.” That buck amount would more than likely be billed monthly.

We typically recommend relationships which are not hourly. Repaired fee payment encourages communication between the customer as well as the Certified Public Accountant. The even more the CPA understands about the customer’s organisation as well as their life as well as what’s going on, the far better recommendations they can provide. When clients are awkward with picking up the phone, worried they’re going to get a huge costs, they are less most 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 ought to anticipate from your Certified Public Accountant depends a lot on your organisation purposes. If you’re a very small company and you’re not preparing to expand a lot in the near future, maybe all you require is someone to prepare your income tax return. However, possibly you have a growing organisation. You require somebody who can consult with you on employee matters, monitoring issues, accounting system established and design. These are some things to take into consideration when imagining the level of commitment you require from your CPA.

I normally instructor my customers to put together a wish list of things they desire from us. Obviously, the more dedication a customer requires from us, the bigger the engagement will certainly be, which will boost expenses. Beginning with the maximum and also functioning down, though, is constantly the most effective bet. We can train you on which products on your shopping list will be the most impactful to your company and which ones might be lesser.

So checklist out those particular purposes you wish to complete with your Certified Public Accountant. “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. Checklist whatever that you wish to get out of this connection. From that position, you can start to prioritize that list and state, “these six 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 exactly how do you know who you require to employ? Should it be a bookkeeper, an accounting professional, or a CPA? What’s the difference? One of the most essential point is just that you recognize that these documents are being maintained and that you feel great in the individual keeping them.

An accountant preserves your accountancy records. They get in all purchases, and also they balance your funds. Accounting professionals concentrate on funds, tax obligations, budgets, service operations, payroll, as well as money management. However know this, there are different kinds of accountants that concentrate on different areas of organisation. To put it simply, if you damage your leg, don’t most likely to the dermatologist.

You intend to see to it that you find the best individual for your small company. Smoke Smoke Bookkeeping has bookkeepers as well as accountants on personnel. In this manner. When it comes to regular monthly deal handling, our bookkeepers can do it for a minimal charge. When we’re discussing finance as well as tax obligation preparation, you have a Certified Public Accountant all set to step in.

What are the 5 types of accountants?
What is step number one of coming to be successful in your business? You’re mosting likely to require an accountant. Now you do not need to hire us. You can work with in home. If you participate in home, that should you get? There are a great deal of choices and many different budget plans around that you need to be knowledgeable about. You do not intend to obtain the incorrect person for the incorrect job description.

The first person you’re going to employ is your bookkeeper. This is the data access specialist. Depending upon where you live, you’re going to pay a various quantity for he or she. If you live in Idaho, for example, you might be on the reduced end around 18 to $20,000 a year. However if you remain in New York or California, you could be upwards of 40,000 or perhaps $45,000 a year for the exact same setting. Know that this person offers a certain function. They’re not going to be solid at developing records for you or working analytics or accounting procedures. Their job is to obtain data right into the system. And also if you’re a brand-new entrepreneur, likely, you have actually been doing this yourself. It’s wise to offload several of the heavy dirty work of accounting, which will certainly allow you to start evaluating the reports. A bookkeeper is a good hire for anybody ready to expand their service, but not prepared to invest in the high leading rate accountants right now.

The next degree up guys is the accounting professional. Now, a lot of people believe bookkeepers and also accountants are the same. They’re not. It’s really, really various. You’re mosting likely to pay a greater quantity for someone that’s an accountant. Your bookkeeper has actually been placing data right into the system all month long. Your accountant typically is aiding to look after that process. Then, at the end of the month, your accountant will do several of the more hefty lifting tasks which call for resolving your test equilibrium as well as making month-end journal entries. They will certainly also do several of the accrual work that’s going to need to occur in your financials.

Sometimes, an accountant will certainly help create monetary declarations. They go to that month’s end setting. For an accounting professional, depending once more on where you live, you can expect to pay anywhere from possibly $30k approximately $60k/year.

The following degree up is the controller. The controller loads the process of supervising the entire audit system. They get to coordinate what’s taking place and when. They see to it the information is getting involved in the system on time, and that the month and general passions are happening on time. The controller is in charge of the end product that’s coming out of the bookkeeping system. That is the annual report, the income declaration, and the cash flow statement. Those sort of documents rest on the shoulders of your controller. This is an extra pricey position to fill up, and it must be. He or she needs to have a great deal of experience, need to a minimum of a bachelor’s degree in accountancy, otherwise getting involved in their master’s degree. I would anticipate to pay anywhere from $45k to $85k/year for he or she.

Now we’re mosting likely to speak about the King or queen on top of the mountain. This is your CFO. CFO represents “primary financial officer.” They hold a C suite position in your business. This person’s expensive. You intend to be careful when you hire a CFO due to the fact that not all CFOs are created equal. Everything approximately this point has been task-related, focusing on just journal access and debiting and also attributing. When you step into a CFO duty, this needs calculated reasoning. Not all accountants have that capability. If they’re not able to see the big picture and produce strategies that are service development relevant, they aren’t received the job. They ought to convert the work that the rest of the team is doing into goals for your business. Your CFO requires to ensure that you’re striking the targets you require to hit with the correct amount of cash behind each goal. For a CFO, you can anticipate to pay anywhere from $75k to $250k/year. That is typically what I’ve seen across the country for somebody of this caliber.

Finally is the Certified Public Accountant. The CPA represents “cpa.” If you’ve started your company, you recognize that you require a tax person, right? That’s the Certified Public Accountant. His task is to do 2 things. One is to prepare your tax obligation method. That is to take every little thing you’re doing throughout the year as well as prepare it so that you are not spending greater than you require to on taxes. That’s the major objective. However, a CPA frequently loads the duty of an auditor where they can be found in as an independent event. They see to it that your publications are precise as well as clean as well as reflective of what’s taking place in the real world. In regards to price, you’re mosting likely to spend anywhere in between $125 an hour to upwards of $450 a hr for a qualified CPA.

Contact Us

(844) 382-8160