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Vermont Cannabis Accounting

Puff Puff Accounting, serving Vermont, 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.

Vermont 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 definitely ways to tackle your accounting yourself and DIY it. Options like QuickBooks have made this possible, yet I caution you, if you are doing one of these 2 points, you possibly require to allow someone else take care of it.

  1. If you are covertly questioning if you’re even doing this right in any way, that’s a red flag.
  2. If you’re not doing it in any way because well you don’t recognize what to do and also it’s frustrating, that’s a huge warning and also it’s time to let a professional take control of.
What are common ways accountants bill their clients?
Some Certified public accountants bill hourly, they bill you some bucks per hr depending upon just how much time they place in. It’s also usual to bill taken care of costs for specific jobs. Your CPA could do your income tax return for one price and prepare an additional estimate for the next job. An additional popular rate structure is the yearly set price agreement. Your CPA could claim, “I’m going to offer this variety of solutions to you, and also I’m going to provide you unlimited call and unrestricted meetings, and also I’m going to do that all for $X quantity of dollars per year.” That dollar amount would most likely be billed monthly. We normally recommend relationships which are not per hour. Repaired cost payment urges communication in between the customer and also the Certified Public Accountant. The more the Certified Public Accountant finds out about the customer’s service and their life and what’s going on, the far better advice they can give. When clients are uneasy with grabbing the phone, terrified they’re going to get a huge bill, they are less most likely to select the phone talk to their Certified Public Accountant when they have something on their mind.
What should I expect from my CPA?
What you need to anticipate from your Certified Public Accountant depends a lot on your organisation goals. If you’re a very small business and you’re not planning to expand much in the near future, perhaps all you require is a person to prepare your income tax return. Nevertheless, perhaps you have a growing business. You need somebody who can seek advice from you on staff member matters, management concerns, accounting system set up and layout. These are some things to think about when visualizing the degree of commitment you require from your CPA. I usually train my customers to put together a want list of things they desire from us. Certainly, the even more commitment a client requires from us, the larger the involvement will be, which will certainly boost prices. Beginning with the maximum and also working down, though, is constantly the very best bet. We can trainer you on which products on your want list will be one of the most impactful to your organisation and which ones could be lesser. So list out those details purposes you want to accomplish with your Certified Public Accountant. “This is what I want out of that relationship.” Don’t hesitate to make that a pretty long checklist. What you wish to do is pretend money is no item. List every little thing that you want to leave this partnership. From that position, you can begin to prioritize that list and state, “these 6 points are most important in this partnership 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 require to employ? Should it be an accountant, an accountant, or a CPA? What’s the distinction? The most essential thing is simply that you recognize that these documents are being kept and that you feel great in the person keeping them. An accountant preserves your audit documents. They enter all transactions, and they stabilize your funds. Accountants specialize in financial resources, tax obligations, budgets, service procedures, payroll, and also money management. Yet understand this, there are different sorts of accounting professionals who specialize in numerous areas of organisation. In other words, if you damage your leg, don’t most likely to the skin doctor. You intend to make certain that you locate the appropriate person for your small business. Puff Puff Accountancy has accountants as well as accountants on team. By doing this. When it concerns regular monthly transaction processing, our accountants can do it for a lower fee. 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 action primary of coming to be rewarding in your company? You’re mosting likely to need an accountant. Now you do not have to employ us. You can employ in residence. If you engage in home, who should you get? There are a lot of options and many different budget plans out there that you need to be familiar with. You don’t intend to get the wrong individual for the incorrect job description. The initial individual you’re going to work with is your bookkeeper. This is the data access professional. Depending upon where you live, you’re going to pay a various quantity for he or she. If you reside in Idaho, for example, you might be on the lower 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 very same placement. Know that he or she serves a particular role. They’re not mosting likely to be solid at developing reports for you or operating analytics or accounting processes. Their task is to obtain data into the system. As well as if you’re a brand-new business owner, likely, you’ve been doing this yourself. It’s wise to unload some of the hefty dirty work of audit, which will certainly allow you to begin evaluating the records. A bookkeeper is an excellent hire for anyone all set to expand their service, yet not prepared to buy the high leading tier accounting professionals right now. The next level up individuals is the accounting professional. Now, a lot of people believe accountants as well as accounting professionals are the same. They’re not. It’s extremely, really different. You’re mosting likely to pay a greater quantity for somebody that’s an accounting professional. Your accountant has been putting data right into the system all month long. Your accounting professional typically is assisting to manage that procedure. After that, at the end of the month, your accountant will certainly do some of the even more hefty training jobs which call for reconciling your test balance and also making month-end journal entrances. They will also do some of the accrual job that’s mosting likely to require to take place in your financials. Sometimes, an accounting professional will help produce economic declarations. They are at that month’s end placement. For an accounting professional, depending again on where you live, you can expect to pay anywhere from perhaps $30k as much as $60k/year. The next degree up is the controller. The controller fills up the procedure of supervising the entire accountancy system. They reach orchestrate what’s happening and also when. They ensure the data is getting involved in the system on time, and that the month as well as general rate of interests are taking place on time. The controller is in charge of the end product that’s coming out of the accounting system. That is the balance sheet, the revenue declaration, and also the capital declaration. Those kinds of documents rest on the shoulders of your controller. This is a more expensive placement to fill up, and it must be. This person needs to have a lot of experience, ought to at least a bachelor’s degree in audit, otherwise getting involved in their master’s level. I would certainly expect 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 hill. This is your CFO. CFO means “chief financial officer.” They hold a C collection position in your firm. This person’s costly. You wish to take care when you employ a CFO because not all CFOs are developed equivalent. Everything approximately this factor has actually been task-related, concentrating on simply journal entries and also debiting and also attributing. When you enter a CFO duty, this needs tactical reasoning. Not all accountants have that capability. If they’re not able to see the big picture and also develop strategies that are service development relevant, they aren’t received the work. They need to convert the job that the remainder of the team is doing into goals for your firm. Your CFO needs to see to it that you’re hitting the targets you require to hit with the right amount of money behind each objective. For a CFO, you can anticipate to pay anywhere from $75k to $250k/year. That is normally what I’ve seen nationwide for somebody of this quality. Last but not least is the Certified Public Accountant. The CPA means “certified public accountant.” If you’ve begun your firm, you know that you require a tax man, right? That’s the CPA. His job is to do 2 things. One is to prepare your tax obligation approach. That is to take whatever you’re doing throughout the year and prepare it to ensure that you are not spending greater than you need to on taxes. That’s the major goal. Nevertheless, a CPA commonly loads the duty of an auditor where they are available in as an independent celebration. They make certain that your books are precise and clean and also reflective of what’s occurring in the real life. In regards to expense, you’re going to spend anywhere between $125 an hour to upwards of $450 an hour for a qualified CPA.

Contact Us

(833) 319-0797