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Wisconsin Cannabis Accounting

Puff Puff Accounting, serving Wisconsin, 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.

Wisconsin 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 methods to handle your audit on your own as well as DIY it. Choices like QuickBooks have actually made this possible, but I warn you, if you are doing one of these 2 things, you most likely require to let somebody else take care of it.

  1. If you are covertly questioning if you’re also doing this right in any way, that’s a red flag.
  2. If you’re refraining from doing it whatsoever because well you do not understand what to do and also it’s overwhelming, that’s a massive red flag and it’s time to allow a specialist take control of.
What are common ways accountants bill their clients?
Some Certified public accountants expense per hour, they bill you some dollars per hour depending on how much time they place in. It’s additionally common to bill taken care of fees for private jobs. Your Certified Public Accountant might do your tax return for one rate and prepare an additional quote for the next project. An additional prominent cost structure is the annual set price contract. Your CPA may claim, “I’m mosting likely to give this variety of services to you, and also I’m mosting likely to provide you unlimited telephone 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 quantity would probably be billed monthly.

We commonly recommend partnerships which are not per hour. Repaired charge invoicing encourages interaction between the customer and the CPA. The even more the Certified Public Accountant finds out about the customer’s business and their life as well as what’s going on, the much better advice they can provide. When clients are unpleasant with picking up the phone, afraid they’re going to get a big bill, they are less 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 must anticipate from your CPA depends a great deal on your company purposes. If you’re an extremely local business and also you’re not planning to grow a lot in the near future, perhaps all you need is somebody to prepare your tax return. Nonetheless, maybe you have a growing service. You need a person who can talk to you on employee issues, monitoring problems, accounting system set up and also layout. These are some things to think about when imagining the degree of dedication you need from your Certified Public Accountant.

I typically trainer my customers to assemble a shopping list of points they desire from us. Of course, the more dedication a client needs from us, the larger the interaction will be, which will certainly raise expenses. Beginning with the maximum and functioning down, however, is always the very best bet. We can trainer you on which things on your wish list will certainly be the most impactful to your company as well as which ones could be lesser.

So list out those specific objectives you wish to accomplish with your Certified Public Accountant. “This is what I desire out of that partnership.” Don’t be afraid to make that a rather lengthy checklist. What you wish to do is pretend cash is no item. Checklist every little thing that you desire to get out of this partnership. From that setting, you can start to focus on that list as well as say, “these 6 points are essential in this connection 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 need to work with? Should it be a bookkeeper, an accounting professional, or a CPA? What’s the distinction? One of the most crucial point is simply that you understand that these records are being maintained and that you feel confident in the individual keeping them.

A bookkeeper keeps your accountancy documents. They go into all transactions, and also they balance your funds. Accounting professionals specialize in finances, taxes, budget plans, business operations, pay-roll, and also money management. But recognize this, there are various sorts of accounting professionals that specialize in different areas of business. To put it simply, if you break your leg, do not go to the skin specialist.

You intend to make certain that you locate the best individual for your small business. Smoke Smoke Bookkeeping has bookkeepers as well as accountants on personnel. By doing this. When it concerns monthly deal handling, our bookkeepers can do it for a lesser charge. When we’re talking about money management and also tax obligation preparation, you have a CPA all set to step in.

What are the 5 types of accountants?
What is action number one of becoming rewarding in your business? You’re going to require an accounting professional. Now you don’t have to hire us. You can employ in home. If you participate in residence, who should you obtain? There are a great deal of choices and various spending plans out there that you require to be knowledgeable about. You do not wish to get the incorrect individual for the wrong task description.

The initial individual you’re going to work with is your bookkeeper. This is the data entry professional. Depending on where you live, you’re going to pay a various amount for this person. If you reside in Idaho, as an example, you could be on the reduced end around 18 to $20,000 a year. But if you remain in New York or The Golden State, you could be upwards of 40,000 and even $45,000 a year for the same placement. Know that this person serves a particular function. They’re not going to be strong at developing reports for you or working analytics or accounting processes. Their task is to obtain information into the system. As well as if you’re a brand-new entrepreneur, likely, you’ve been doing this on your own. It’s wise to offload some of the hefty dirty work of bookkeeping, which will certainly allow you to start analyzing the records. A bookkeeper is a good hire for any person ready to increase their company, however not prepared to buy the high leading tier accounting professionals right now.

The following level up individuals is the accounting professional. Now, a great deal of individuals believe accountants as well as accounting professionals coincide. They’re not. It’s very, very different. You’re mosting likely to pay a greater quantity for someone that’s an accounting professional. Your accountant has actually been placing information right into the system all month long. Your accountant usually is helping to supervise that procedure. Then, at the end of the month, your accounting professional will certainly do a few of the more hefty lifting jobs which call for reconciling your test equilibrium as well as making month-end journal entries. They will likewise do several of the accrual job that’s mosting likely to need to occur in your financials.

In many cases, an accountant will certainly help produce monetary declarations. They are at that month’s end setting. For an accountant, depending again on where you live, you can expect to pay anywhere from possibly $30k approximately $60k/year.

The next level up is the controller. The controller loads the process of managing the entire audit system. They get to coordinate what’s taking place and when. They make certain the data is getting into the system in a timely manner, and that the month and also general interests are taking place on schedule. The controller is responsible for the end product that’s appearing of the audit system. That is the balance sheet, the earnings declaration, and also the cash flow declaration. Those kinds of records hinge on the shoulders of your controller. This is a more expensive setting to fill up, as well as it ought to be. This person needs to have a great deal of experience, need to at least a bachelor’s degree in audit, otherwise getting into their master’s degree. I would anticipate to pay anywhere from $45k to $85k/year for this person.

Currently we’re mosting likely to talk about the King or queen on top of the hill. This is your CFO. CFO stands for “primary financial officer.” They hold a C suite position in your company. He or she’s pricey. You want to beware when you work with a CFO due to the fact that not all CFOs are produced equal. Every little thing up to this factor has actually been task-related, concentrating on simply journal access and also debiting and also crediting. When you step into a CFO function, this requires calculated thinking. Not all accountants have that capacity. If they’re unable to see the big picture and develop plans that are company development relevant, they aren’t gotten approved for the task. They should equate the job that the rest of the team is doing into objectives for your firm. Your CFO requires to see to it that you’re hitting the targets you require to hit with the right amount of cash behind each objective. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is typically what I have actually seen nationwide for somebody of this quality.

Last but not least is the Certified Public Accountant. The Certified Public Accountant means “certified public accountant.” If you’ve begun your company, you understand that you need a tax obligation guy, right? That’s the CPA. His job is to do two things. One is to prepare your tax approach. That is to take every little thing you’re doing throughout the year and also prepare it to ensure that you are not spending more than you require to on tax obligations. That’s the main objective. Nevertheless, a CPA usually fills the duty of an auditor where they come in as an independent celebration. They see to it that your books are exact and tidy and reflective of what’s taking place in the real life. In terms of expense, you’re going to spend anywhere between $125 an hour to upwards of $450 an hour for a certified CPA.

Contact Us

(844) 382-8160