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Washington Cannabis Accounting

Puff Puff Accounting, serving Washington, 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.

Washington 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 take on your audit on your own and also DIY it. Choices like QuickBooks have actually made this possible, yet I caution you, if you are doing among these two things, you probably need to allow somebody else care for it.

  1. If you are privately questioning if you’re even doing this right whatsoever, that’s a red flag.
  2. If you’re not doing it in any way because well you do not understand what to do and it’s frustrating, that’s a massive warning and it’s time to allow an expert take over.
What are common ways accountants bill their clients?
Some Certified public accountants costs per hour, they bill you some bucks per hour depending upon just how much time they place in. It’s additionally typical to bill repaired fees for specific jobs. Your Certified Public Accountant might do your tax return for one cost as well as prepare another quote for the next task. Another preferred rate framework is the yearly fixed rate arrangement. Your Certified Public Accountant might state, “I’m going to give this series of solutions to you, and I’m mosting likely to provide you endless call and limitless meetings, as well as I’m going to do that all for $X amount of dollars annually.” That buck amount would certainly probably be billed monthly.

We usually advise relationships which are not hourly. Dealt with charge invoicing motivates interaction between the customer and the CPA. The even more the Certified Public Accountant understands about the client’s company and their life and also what’s taking place, the far better recommendations they can offer. When customers are uncomfortable with picking up the phone, worried they’re going to get a big costs, they are much less most likely to choose the phone speak with their Certified Public Accountant 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 whole lot on your business objectives. If you’re a really local business and also you’re not preparing to grow much in the future, maybe all you require is someone to prepare your income tax return. However, possibly you have a growing business. You need somebody that can speak with you on staff member matters, monitoring concerns, accounting system established and also style. These are some points to consider when picturing the degree of commitment you need from your Certified Public Accountant.

I usually instructor my clients to create a shopping list of things they desire from us. Naturally, the even more commitment a client needs from us, the bigger the involvement will be, which will certainly enhance prices. Beginning with the maximum and also working down, however, is always the very best wager. We can trainer you on which products on your shopping list will certainly be one of the most impactful to your organisation and which ones might be less important.

So listing out those details purposes you intend to achieve with your Certified Public Accountant. “This is what I want out of that partnership.” Do not be afraid to make that a pretty long list. What you intend to do is pretend money is no things. Checklist every little thing that you want to get out of this relationship. From that position, you can begin to prioritize that listing as well as claim, “these six points are crucial in this partnership that I’m going to have.”.

Do I need a bookkeeper or an accountant for my business?
So just how do you know who you require to work with? Should it be an accountant, an accountant, or a CPA? What’s the distinction? One of the most important point is simply that you know that these records are being kept which you feel confident in the person keeping them.

An accountant keeps your accountancy documents. They enter all deals, and also they balance your funds. Accounting professionals specialize in finances, tax obligations, budgets, organisation operations, pay-roll, and also money management. However understand this, there are various types of accounting professionals that concentrate on numerous locations of organisation. To put it simply, if you damage your leg, don’t go to the dermatologist.

You wish to see to it that you find the right individual for your local business. Smoke Smoke Audit has bookkeepers and also accounting professionals on staff. In this manner. When it comes to month-to-month transaction processing, our bookkeepers can do it for a minimal cost. When we’re speaking about finance and also tax preparation, you have a Certified Public Accountant ready to action in.

What are the 5 types of accountants?
What is step primary of ending up being rewarding in your company? You’re mosting likely to require an accountant. Now you don’t need to employ us. You can employ in house. If you engage in house, who should you obtain? There are a lot of options as well as various budgets available that you require to be familiar with. You do not want to obtain the wrong person for the wrong job description.

The very first person you’re mosting likely to employ is your accountant. This is the information entrance professional. Relying on where you live, you’re going to pay a different amount for he or she. If you stay in Idaho, for example, you may be on the lower end around 18 to $20,000 a year. Yet if you remain in New York City or California, you could be upwards of 40,000 or even $45,000 a year for the same position. Know that he or she serves a details function. They’re not mosting likely to be solid at developing records for you or doing business analytics or accounting processes. Their job is to get information right into the system. And if you’re a new entrepreneur, likely, you have actually been doing this yourself. It’s clever to offload some of the heavy dirty work of accounting, which will certainly permit you to start assessing the records. An accountant is a great hire for anybody ready to expand their organisation, but not prepared to purchase the high top tier accounting professionals right now.

The next level up people is the accountant. Now, a lot of people think accountants as well as accountants are the same. They’re not. It’s really, very various. You’re going to pay a greater quantity for someone that’s an accountant. Your accountant has been putting data into the system all month long. Your accounting professional generally is helping to look after that procedure. After that, at the end of the month, your accounting professional will do a few of the more heavy lifting jobs which call for resolving your trial balance and making month-end journal access. They will certainly likewise do several of the accrual work that’s going to need to happen in your financials.

In some cases, an accounting professional will assist develop financial declarations. They go to that month’s end placement. For an accountant, 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 fills up the procedure of supervising the whole audit system. They reach coordinate what’s occurring and when. They ensure the data is getting into the system promptly, and that the month as well as basic interests are happening on schedule. The controller is accountable for the end product that’s coming out of the accounting system. That is the annual report, the income statement, and also the capital declaration. Those type of records rest on the shoulders of your controller. This is an extra costly placement to fill, as well as it must be. He or she requires to have a great deal of experience, must a minimum of a bachelor’s degree in accounting, otherwise entering their master’s degree. I would certainly expect to pay anywhere from $45k to $85k/year for he or she.

Now we’re mosting likely to talk about the King or queen on top of the hill. This is your CFO. CFO represents “primary financial officer.” They hold a C collection position in your company. He or she’s costly. You intend to take care when you work with a CFO since not all CFOs are developed equivalent. Everything up to this point has actually been task-related, focusing on just journal entrances and also debiting and also attributing. When you enter a CFO duty, this needs strategic thinking. Not all accounting professionals have that capacity. If they’re unable to see the big picture as well as create plans that are company development related, they aren’t gotten approved for the job. They must convert the work that the rest of the group is doing into goals for your business. Your CFO requires to make sure that you’re hitting the targets you need to hit with the right amount of cash behind each goal. For a CFO, you can anticipate to pay anywhere from $75k to $250k/year. That is usually what I have actually seen nationwide for somebody of this quality.

Last but not least is the CPA. The CPA means “state-licensed accountant.” If you’ve begun your company, you recognize that you need a tax man, right? That’s the CPA. His work is to do 2 points. One is to prepare your tax technique. That is to take every little thing you’re doing throughout the year and also prepare it so that you are not spending greater than you need to on tax obligations. That’s the primary objective. However, a CPA often fills the role of an auditor where they are available in as an independent event. They make sure that your books are accurate as well as clean and reflective of what’s occurring in the real life. In regards to expense, you’re mosting likely to spend anywhere in between $125 a hr to upwards of $450 an hour for a certified CPA.

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(844) 382-8160