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South Carolina Cannabis Accounting

Puff Puff Accounting, serving South 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

1 Free Hour - (833) 319-0797

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.

South 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.

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 tackle your audit on your own and Do It Yourself it. Options like QuickBooks have actually made this possible, yet I alert you, if you are doing one of these two points, you probably require to let somebody else take care of it.

  1. If you are privately asking yourself if you’re even doing this right at all, that’s a warning.
  2. If you’re refraining from doing it at all because well you do not understand what to do and it’s overwhelming, that’s a significant red flag and it’s time to let a specialist take control of.
What are common ways accountants bill their clients?
Some Certified public accountants costs hourly, they bill you some bucks per hr depending on just how much time they put in. It’s likewise typical to charge fixed charges for private projects. Your Certified Public Accountant may do your tax return for one cost and prepare one more estimate for the next task. An additional preferred rate framework is the annual fixed cost arrangement. Your Certified Public Accountant might state, “I’m mosting likely to give this range of solutions to you, and also I’m mosting likely to give you unlimited telephone call and limitless conferences, and also I’m mosting likely to do that all for $X quantity of bucks per year.” That buck quantity would probably be billed monthly. We usually recommend partnerships which are not hourly. Dealt with cost payment urges interaction in between the customer and the CPA. The more the Certified Public Accountant understands about the customer’s company and also their life as well as what’s going on, the better suggestions they can offer. When clients are unpleasant with getting the phone, worried they’re going to get a huge expense, 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 should expect from your Certified Public Accountant depends a lot on your business purposes. If you’re an extremely local business as well as you’re not intending to expand much in the near future, maybe all you require is a person to prepare your income tax return. Nevertheless, maybe you have a growing business. You need someone who can talk to you on staff member issues, management concerns, accounting system established as well as style. These are some points to think about when visualizing the level of dedication you require from your CPA. I commonly trainer my clients to assemble a want list of points they want from us. Naturally, the more commitment a customer requires from us, the larger the engagement will be, which will enhance costs. Beginning with the maximum as well as functioning down, though, is always the best wager. We can instructor you on which products on your wish list will be one of the most impactful to your organisation and also which ones may be less important. So listing out those certain purposes you wish to accomplish with your Certified Public Accountant. “This is what I desire out of that relationship.” Don’t hesitate to make that a pretty lengthy listing. What you want to do is pretend money is no object. Listing everything that you want to leave this connection. From that position, you can start to focus on that checklist and also claim, “these 6 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 exactly how do you know who you need to hire? Should it be an accountant, an accounting professional, or a CPA? What’s the difference? The most vital point is simply that you understand that these documents are being kept which you feel confident in the individual keeping them. A bookkeeper maintains your bookkeeping records. They enter all purchases, as well as they balance your funds. Accountants concentrate on funds, taxes, budgets, organisation procedures, pay-roll, and money management. But know this, there are various sorts of accountants that focus on different locations of organisation. Simply put, if you break your leg, don’t go to the skin specialist. You wish to make sure that you discover the appropriate individual for your small company. Puff Puff Accounting has bookkeepers and also accounting professionals on team. By doing this. When it pertains to month-to-month transaction processing, our accountants can do it for a lower charge. When we’re speaking about finance as well as tax obligation planning, you have a Certified Public Accountant prepared to step in.
What are the 5 types of accountants?
What is action number one of becoming rewarding in your service? You’re mosting likely to need an accountant. Currently you do not need to employ us. You can employ in residence. If you participate in house, who should you get? There are a lot of choices and also various budgets available that you require to be aware of. You don’t want to get the incorrect person for the wrong work description. The initial person you’re going to employ is your bookkeeper. This is the information entry expert. Relying on where you live, you’re mosting likely to pay a different quantity for this person. If you reside in Idaho, as an example, you may be on the reduced end around 18 to $20,000 a year. But if you’re in New York or California, you could be upwards of 40,000 or perhaps $45,000 a year for the same placement. Know that he or she offers a certain duty. They’re not going to be strong at creating reports for you or working analytics or accounting procedures. Their job is to obtain information into the system. And if you’re a brand-new business owner, likely, you’ve been doing this yourself. It’s clever to offload some of the hefty dirty work of accountancy, which will certainly permit you to start evaluating the reports. An accountant is a great hire for anybody ready to broaden their service, but not prepared to invest in the high top rate accounting professionals right now. The next level up people is the accounting professional. Now, a great deal of people assume bookkeepers and also accounting professionals coincide. They’re not. It’s really, really various. You’re mosting likely to pay a greater quantity for somebody that’s an accounting professional. Your bookkeeper has been putting information into the system all month long. Your accountant commonly is aiding to manage that procedure. Then, at the end of the month, your accountant will certainly do a few of the more heavy lifting tasks which require integrating your test equilibrium and also making month-end journal entrances. They will certainly likewise do some of the amassing job that’s going to need to take place in your financials. In many cases, an accounting professional will certainly help create financial declarations. They are at that month’s end setting. For an accountant, depending once more on where you live, you can expect to pay anywhere from maybe $30k up to $60k/year. The next level up is the controller. The controller fills up the process of managing the entire bookkeeping system. They get to manage what’s taking place and also when. They make certain the information is entering the system on time, and that the month and also general rate of interests are taking place promptly. The controller is accountable for the final product that’s appearing of the accounting system. That is the annual report, the revenue statement, as well as the capital declaration. Those sort of documents rest on the shoulders of your controller. This is a much more pricey setting to load, and also it needs to be. This person needs to have a lot of experience, must a minimum of a bachelor’s level in audit, otherwise getting involved in their master’s level. I would 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 represents “chief financial officer.” They hold a C collection position in your business. He or she’s costly. You want to be careful when you work with a CFO since not all CFOs are developed equal. Every little thing as much as this point has actually been task-related, concentrating on just journal entrances and also debiting and also attributing. When you step into a CFO duty, this needs tactical thinking. Not all accountants have that capability. If they’re not able to see the big picture as well as create plans that are service development relevant, they aren’t gotten approved for the task. They ought to translate the work that the rest of the team is doing into goals for your firm. Your CFO needs to make sure that you’re striking the targets you need to hit with the correct amount of money behind each goal. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is normally what I’ve seen nationwide for someone of this quality. Last but not least is the CPA. The Certified Public Accountant represents “state-licensed accountant.” If you’ve begun your company, you know that you need a tax obligation guy, right? That’s the CPA. His task is to do 2 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 make sure that you are not investing more than you require to on tax obligations. That’s the primary objective. Nevertheless, a CPA frequently fills up the function of an auditor where they are available in as an independent event. They make sure that your publications are accurate as well as clean as well as reflective of what’s happening in the real life. In terms of expense, you’re going to spend anywhere between $125 a hr to upwards of $450 an hour for a certified Certified Public Accountant.

Contact Us

(833) 319-0797