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Tennessee Cannabis Accounting

Puff Puff Accounting, serving Tennessee, 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.

Tennessee 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 ways to tackle your accountancy on your own and DIY it. Alternatives like QuickBooks have actually made this possible, yet I advise you, if you are doing one of these 2 points, you most likely require to let somebody else take care of it.

  1. If you are secretly asking yourself if you’re even 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 as well as it’s frustrating, that’s a huge warning and it’s time to let an expert take over.
What are common ways accountants bill their clients?
Some CPAs expense hourly, they charge you some bucks per hour depending upon how much time they put in. It’s also usual to bill dealt with costs for specific projects. Your CPA might do your tax return for one price as well as prepare another quote for the next project. Another preferred rate framework is the annual set price agreement. Your Certified Public Accountant may say, “I’m mosting likely to provide this series of solutions to you, and I’m going to provide you endless telephone call as well as unrestricted meetings, and also I’m mosting likely to do that all for $X amount of bucks each year.” That buck quantity would more than likely be billed monthly. We usually suggest relationships which are not per hour. Dealt with charge payment motivates communication in between the customer and the CPA. The even more the CPA knows about the customer’s service and their life and what’s going on, the much better guidance they can give. When customers are awkward with picking up the phone, terrified they’re going to get a huge bill, they are less 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 should anticipate from your CPA depends a great deal on your service goals. If you’re a very small company and also you’re not intending to grow much in the near future, perhaps all you need is somebody to prepare your tax return. Nonetheless, perhaps you have a growing service. You need a person who can consult with you on employee issues, administration problems, accounting system established and also layout. These are some things to take into consideration when imagining the level of commitment you need from your CPA. I generally train my customers to put together a want list of points they desire from us. Certainly, the even more dedication a client requires from us, the larger the engagement will be, which will certainly enhance prices. Starting from the optimum and also functioning down, though, is always the best bet. We can coach you on which items on your shopping list will certainly be one of the most impactful to your business as well as which ones could be less important. So listing out those particular purposes you want to accomplish with your Certified Public Accountant. “This is what I want out of that connection.” Do not be afraid to make that a rather long checklist. What you wish to do is pretend cash is no object. Listing every little thing that you want to leave this relationship. From that placement, you can start to prioritize that checklist and also state, “these six points are essential 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 distinction? One of the most essential point is simply that you recognize that these documents are being kept and that you feel great in the individual keeping them. A bookkeeper keeps your accountancy records. They go into all transactions, as well as they stabilize your funds. Accounting professionals concentrate on finances, taxes, budgets, organisation operations, pay-roll, as well as money management. But recognize this, there are various types of accountants that focus on various areas of organisation. To put it simply, if you break your leg, do not most likely to the skin doctor. You want to see to it that you locate the appropriate person for your small business. Puff Smoke Bookkeeping has bookkeepers and also accounting professionals on team. This way. When it pertains to regular monthly transaction processing, our accountants can do it for a minimal cost. When we’re talking about finance and tax preparation, you have a CPA ready to action in.
What are the 5 types of accountants?
What is step primary of coming to be successful in your company? You’re going to need an accounting professional. Now you do not have to employ us. You can hire in home. If you participate in house, that should you get? There are a lot of options as well as several budgets out there that you need to be knowledgeable about. You do not want to obtain the wrong individual for the incorrect task summary. The first individual you’re going to hire is your bookkeeper. This is the data entrance expert. Depending on where you live, you’re mosting likely to pay a various quantity for this person. If you stay in Idaho, for instance, you could be on the lower end around 18 to $20,000 a year. Yet 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 he or she offers a particular role. They’re not going to be solid at producing reports for you or operating analytics or accounting processes. Their job is to get data into the system. And also if you’re a brand-new entrepreneur, likely, you’ve been doing this yourself. It’s smart to unload some of the hefty grunt work of audit, which will certainly allow you to begin examining the reports. A bookkeeper is a great hire for anybody ready to increase their service, however not prepared to buy the high top rate accounting professionals right now. The following degree up men is the accounting professional. Now, a lot of individuals think accountants and also accounting professionals are the same. They’re not. It’s extremely, really different. You’re going to pay a greater quantity for someone that’s an accountant. Your bookkeeper has been placing information right into the system all month long. Your accountant typically is helping to supervise that procedure. Then, at the end of the month, your accounting professional will certainly do several of the even more heavy training jobs which need resolving your trial balance and also making month-end journal entries. They will certainly additionally do a few of the amassing job that’s going to need to happen in your financials. In some cases, an accounting professional will certainly aid create monetary declarations. 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 possibly $30k approximately $60k/year. The next level up is the controller. The controller loads the process of supervising the entire accountancy system. They reach orchestrate what’s happening and when. They see to it the data is getting into the system on schedule, which the month and basic passions are taking place on schedule. The controller is accountable for the end product that’s appearing of the accounting system. That is the balance sheet, the earnings declaration, and the cash flow statement. Those sort of papers hinge on the shoulders of your controller. This is an extra costly placement to fill, as well as it should be. He or she needs to have a great deal of experience, must a minimum of a bachelor’s degree in audit, otherwise getting into their master’s degree. I would expect to pay anywhere from $45k to $85k/year for this person. Now we’re mosting likely to talk about the King or queen in addition to the hill. This is your CFO. CFO means “primary financial officer.” They hold a C suite position in your business. He or she’s costly. You intend to beware when you hire a CFO due to the fact that not all CFOs are created equivalent. Whatever up to this point has actually been task-related, concentrating on simply journal entrances and debiting as well as attributing. When you enter a CFO duty, this calls for tactical reasoning. Not all accounting professionals have that ability. If they’re not able to see the big picture and also create strategies that are service growth related, they aren’t received the job. They must convert the work that the remainder of the team is doing into objectives for your firm. Your CFO needs to ensure that you’re striking the targets you require to hit with the right amount of money behind each goal. For a CFO, you can anticipate to pay anywhere from $75k to $250k/year. That is generally what I’ve seen across the country for someone of this caliber. Last but not least is the CPA. The CPA represents “certified public accountant.” If you’ve started your company, you understand that you need a tax individual, right? That’s the CPA. His job is to do 2 points. One is to prepare your tax obligation technique. That is to take everything you’re doing throughout the year and prepare it so that you are not investing more than you require to on taxes. That’s the main objective. However, a Certified Public Accountant usually fills the duty of an auditor where they can be found in as an independent party. They ensure that your books are accurate and also clean and also reflective of what’s taking place in the real world. In regards to cost, you’re mosting likely to spend anywhere in between $125 a hr to upwards of $450 a hr for a certified CPA.

Contact Us

(833) 319-0797