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Texas Cannabis Accounting

Puff Puff Accounting, serving Texas, 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.

Texas 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

Frequently Asked

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

There are certainly methods to take on your audit on your own as well as DIY it. Choices like QuickBooks have made this possible, but I alert you, if you are doing one of these two points, you most likely require to allow someone else take care of it.

  1. If you are covertly asking yourself if you’re also doing this right in any way, that’s a warning.
  2. If you’re not doing it whatsoever because well you don’t know what to do as well as it’s overwhelming, that’s a massive red flag as well as it’s time to allow a specialist take control of.
What are common ways accountants bill their clients?
Some Certified public accountants expense hourly, they charge you some dollars per hour depending on how much time they put in. It’s likewise typical to charge fixed fees for private jobs. Your CPA may do your income tax return for one price and also prepare an additional price quote for the next task. An additional popular price framework is the annual set price agreement. Your CPA might state, “I’m going to provide this series of services to you, as well as I’m mosting likely to give you unlimited telephone call as well as unlimited conferences, as well as I’m mosting likely to do that all for $X amount of bucks per year.” That dollar quantity would certainly probably be billed monthly. We usually recommend partnerships which are not per hour. Fixed charge billing urges communication in between the client as well as the CPA. The more the Certified Public Accountant knows about the customer’s organisation and their life and also what’s taking place, the better suggestions they can give. When clients are unpleasant with getting the phone, terrified they’re going to get a big bill, they are much less most likely to select the phone speak with 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 business purposes. If you’re a very local business as well as you’re not planning to grow a lot in the near future, possibly all you require is a person to prepare your income tax return. Nonetheless, probably you have an expanding service. You need someone who can speak with you on employee issues, administration problems, accounting system established and design. These are some things to take into consideration when envisioning the degree of commitment you need from your Certified Public Accountant. I commonly instructor my clients to assemble a shopping list of things they desire from us. Certainly, the even more dedication a customer requires from us, the bigger the engagement will be, which will certainly boost prices. Starting from the maximum and functioning down, though, is always the very best bet. We can train you on which items on your shopping list will certainly be one of the most impactful to your company and which ones could be less important. So list out those particular purposes you intend to complete with your Certified Public Accountant. “This is what I want out of that relationship.” Do not hesitate to make that a quite long list. What you intend to do is pretend money is no things. Checklist every little thing that you want to leave this partnership. From that placement, you can begin to focus on that list and state, “these 6 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 hire? Should it be a bookkeeper, an accountant, or a CPA? What’s the distinction? The most vital thing is just that you understand that these records are being maintained which you feel confident in the individual maintaining them. An accountant preserves your accounting documents. They go into all transactions, and they stabilize your funds. Accounting professionals specialize in funds, taxes, budget plans, organisation operations, pay-roll, and finance. But recognize this, there are various types of accountants who specialize in various areas of company. Simply put, if you break your leg, don’t most likely to the skin specialist. You wish to make certain that you discover the best individual for your small business. Puff Puff Accountancy has accountants and accountants on staff. By doing this. When it involves month-to-month deal processing, our bookkeepers can do it for a lower cost. When we’re speaking about money management and also tax planning, you have a CPA prepared to action in.
What are the 5 types of accountants?
What is action primary of ending up being profitable in your service? You’re going to require an accounting professional. Now you don’t have to employ us. You can hire in house. If you participate in house, who should you obtain? There are a great deal of alternatives as well as many different budgets out there that you need to be knowledgeable about. You don’t wish to get the wrong person for the incorrect work description. The very first person you’re mosting likely to hire is your accountant. This is the information entrance professional. Depending upon where you live, you’re going to pay a various quantity for he or she. If you live in Idaho, as an example, you may be on the reduced end around 18 to $20,000 a year. But if you remain in New York City or California, you could be upwards of 40,000 and even $45,000 a year for the very same placement. Know that he or she offers a details duty. They’re not going to be strong at producing reports for you or operating analytics or accounting procedures. Their task is to obtain data 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 some of the heavy dirty work of accountancy, which will permit you to start examining the records. An accountant is an excellent hire for anybody prepared to increase their organisation, but not prepared to buy the high leading rate accounting professionals right now. The next level up individuals is the accountant. Now, a lot of people assume bookkeepers and accountants are the same. They’re not. It’s really, very different. You’re mosting likely to pay a greater quantity for someone that’s an accounting professional. Your bookkeeper has actually been putting information right into the system all month long. Your accountant normally is aiding to look after that procedure. Then, at the end of the month, your accountant will certainly do some of the more heavy training jobs which require reconciling your trial equilibrium and also making month-end journal entrances. They will likewise do some of the accrual job that’s going to need to occur in your financials. In many cases, an accountant will help create financial statements. They are at that month’s end position. For an accounting professional, depending once more on where you live, you can anticipate to pay anywhere from perhaps $30k up to $60k/year. The following level up is the controller. The controller fills up the process of overseeing the entire audit system. They get to coordinate what’s happening as well as when. They ensure the information is getting involved in the system on schedule, which the month and general passions are happening in a timely manner. The controller is in charge of the final product that’s appearing of the accountancy system. That is the balance sheet, the income declaration, and also the capital declaration. Those sort of papers hinge on the shoulders of your controller. This is an extra pricey position to fill up, as well as it ought to be. He or she needs to have a great deal of experience, ought to at least a bachelor’s level in bookkeeping, if not getting into their master’s degree. I would certainly anticipate to pay anywhere from $45k to $85k/year for he or she. Now we’re going to speak about the King or queen in addition to the mountain. This is your CFO. CFO means “chief financial officer.” They hold a C collection position in your business. This person’s pricey. You wish to be careful when you employ a CFO since not all CFOs are produced equivalent. Every little thing as much as this point has actually been task-related, focusing on simply journal entrances as well as debiting as well as crediting. When you enter a CFO role, this requires critical reasoning. Not all accountants have that capability. If they’re unable to see the big picture and produce plans that are organisation development associated, they aren’t gotten approved for the task. They need to equate the job that the rest of the team is doing into goals for your firm. Your CFO needs to ensure that you’re striking the targets you need to hit with the right 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 across the country for someone of this caliber. Lastly is the Certified Public Accountant. The CPA represents “cpa.” If you’ve started your company, you know that you need a tax obligation man, right? That’s the CPA. His work is to do two points. One is to prepare your tax obligation technique. That is to take every little thing you’re doing throughout the year and prepare it to make sure that you are not investing greater than you need to on tax obligations. That’s the major goal. However, a Certified Public Accountant frequently loads the duty of an auditor where they come in as an independent event. They see to it that your books are exact and also clean as well as reflective of what’s happening in the real world. In regards to price, you’re mosting likely to invest anywhere between $125 a hr to upwards of $450 an hour for a qualified Certified Public Accountant.

Contact Us

(833) 319-0797