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West Virginia Cannabis Accounting

Puff Puff Accounting, serving West Virginia, 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.

West Virginia 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 definitely methods to tackle your bookkeeping on your own and DIY it. Alternatives like QuickBooks have made this feasible, however I caution you, if you are doing among these two things, you possibly require to allow someone else take care of it.

  1. If you are privately wondering if you’re also doing this right in any way, that’s a warning.
  2. If you’re refraining from doing it in any way because well you do not understand what to do as well as it’s overwhelming, that’s a significant warning and also it’s time to allow an expert take over.
What are common ways accountants bill their clients?
Some CPAs expense per hour, they bill you some dollars per hr depending upon just how much time they put in. It’s likewise typical to bill taken care of costs for individual projects. Your CPA might do your tax return for one cost and prepare one more quote for the following task. One more preferred price structure is the annual set rate arrangement. Your Certified Public Accountant could say, “I’m mosting likely to offer this series of solutions to you, and I’m going to give you unlimited call as well as unrestricted meetings, as well as I’m going to do that all for $X amount of bucks per year.” That dollar amount would probably be billed monthly. We commonly advise relationships which are not hourly. Fixed charge invoicing urges communication between the client as well as the Certified Public Accountant. The even more the CPA understands about the client’s organisation and their life and also what’s going on, the much better guidance they can offer. When clients are awkward with grabbing the phone, terrified they’re going to get a large costs, they are less most likely to select the phone speak to 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 great deal on your company purposes. If you’re an extremely small business and you’re not planning to grow a lot in the future, maybe all you require is someone to prepare your income tax return. Nevertheless, perhaps you have an expanding company. You require a person who can consult with you on worker matters, administration issues, accounting system established and layout. These are some points to take into consideration when visualizing the degree of commitment you require from your CPA. I typically instructor my customers to assemble a wish list of points they desire from us. Certainly, the even more commitment a customer requires from us, the bigger the interaction will certainly be, which will certainly raise prices. Starting from the optimum and also functioning down, however, is always the best wager. We can instructor you on which things on your wish list will be the most impactful to your company as well as which ones might be lesser. So list out those particular purposes you want to accomplish with your Certified Public Accountant. “This is what I desire out of that partnership.” Don’t be afraid to make that a quite long listing. What you wish to do is pretend cash is no item. Checklist everything that you want to get out of this connection. From that position, you can begin to prioritize that listing as well as state, “these six points are essential in this relationship that I’m mosting likely to have.”.
Do I need a bookkeeper or an accountant for my business?
So just how do you know who you need to work with? Should it be an accountant, an accountant, or a Certified Public Accountant? What’s the difference? The most vital thing is simply that you recognize that these records are being kept which you feel confident in the individual maintaining them. A bookkeeper keeps your accounting records. They get in all deals, as well as they stabilize your funds. Accounting professionals concentrate on financial resources, taxes, budgets, organisation procedures, payroll, and finance. However recognize this, there are various sorts of accountants who concentrate on numerous areas of business. To put it simply, if you damage your leg, do not go to the skin doctor. You wish to see to it that you find the best individual for your small company. Puff Puff Accountancy has bookkeepers as well as accounting professionals on personnel. By doing this. When it involves regular monthly deal handling, our bookkeepers can do it for a lower fee. When we’re speaking about finance as well as tax obligation planning, you have a Certified Public Accountant ready to step in.
What are the 5 types of accountants?
What is step top of ending up being rewarding in your business? You’re going to require an accountant. Now you don’t need to hire us. You can hire in house. If you engage in residence, that should you obtain? There are a great deal of options and various spending plans around that you require to be knowledgeable about. You don’t want to get the wrong person for the wrong job summary. The very first person you’re going to work with is your accountant. This is the information entrance expert. Relying on where you live, you’re going to pay a various quantity for he or she. If you stay in Idaho, for instance, you might be on the reduced end around 18 to $20,000 a year. However if you remain in New York or The Golden State, you could be upwards of 40,000 or perhaps $45,000 a year for the same placement. Know that this person offers a specific role. They’re not mosting likely to be solid at creating records for you or working analytics or accounting processes. Their work is to obtain data right into the system. As well as if you’re a new entrepreneur, likely, you’ve been doing this on your own. It’s clever to offload several of the heavy dirty work of accountancy, which will certainly permit you to begin assessing the reports. A bookkeeper is a good hire for anyone all set to increase their service, yet not prepared to buy the high top tier accounting professionals just yet. The next degree up men is the accounting professional. Now, a great deal of people believe bookkeepers and accountants are the same. They’re not. It’s really, really various. You’re going to pay a greater quantity for somebody that’s an accounting professional. Your bookkeeper has actually been putting information right into the system all month long. Your accounting professional typically is helping to supervise that process. After that, at the end of the month, your accountant will certainly do a few of the more heavy training tasks which require resolving your test balance and making month-end journal access. They will additionally do a few of the accrual work that’s mosting likely to need to happen in your financials. In many cases, an accountant will certainly aid develop financial statements. They go to that month’s end position. For an accountant, depending once again on where you live, you can anticipate to pay anywhere from possibly $30k as much as $60k/year. The next degree up is the controller. The controller fills the procedure of looking after the entire bookkeeping system. They reach orchestrate what’s taking place and also when. They make sure the data is entering into the system in a timely manner, and that the month as well as basic rate of interests are happening on schedule. The controller is accountable for the end product that’s coming out of the audit system. That is the balance sheet, the earnings declaration, as well as the cash flow statement. Those sort of papers rest on the shoulders of your controller. This is an extra pricey position to fill up, as well as it must be. This person requires to have a great deal of experience, must a minimum of a bachelor’s degree in accountancy, if not getting into their master’s degree. I would certainly anticipate to pay anywhere from $45k to $85k/year for this person. Now we’re going to talk about the King or queen in addition to the mountain. This is your CFO. CFO stands for “primary financial officer.” They hold a C suite setting in your company. This person’s pricey. You intend to beware when you hire a CFO because not all CFOs are produced equal. Whatever up to this point has been task-related, concentrating on simply journal entrances and debiting as well as crediting. When you step into a CFO function, this requires calculated thinking. Not all accounting professionals have that capability. If they’re not able to see the big picture as well as create plans that are organisation growth related, they aren’t gotten the job. They should convert the work that the rest of the team is doing into objectives for your company. Your CFO requires to see to it that you’re hitting the targets you need to hit with the correct amount of money behind each objective. For a CFO, you can anticipate to pay anywhere from $75k to $250k/year. That is generally what I’ve seen nationwide for somebody of this caliber. Finally is the Certified Public Accountant. The CPA means “state-licensed accountant.” If you’ve begun your company, you know that you require a tax obligation guy, right? That’s the Certified Public Accountant. His work is to do two things. One is to prepare your tax obligation technique. That is to take every little thing you’re doing throughout the year and also prepare it so that you are not spending more than you require to on tax obligations. That’s the major goal. Nevertheless, a Certified Public Accountant usually loads the role of an auditor where they come in as an independent party. They make sure that your publications are exact and clean and reflective of what’s happening in the real life. In terms of price, you’re mosting likely to invest anywhere between $125 an hour to upwards of $450 an hour for a qualified Certified Public Accountant.

Contact Us

(833) 319-0797