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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 – (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.

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.

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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 bookkeeping on your own as well as DIY it. Options like QuickBooks have actually made this feasible, but I caution you, if you are doing one of these 2 points, you probably need to allow someone else take care of it.

  1. If you are covertly asking yourself if you’re also doing this right at all, that’s a warning.
  2. If you’re refraining from doing it in all because well you do not recognize what to do and also it’s overwhelming, that’s a huge warning as well as it’s time to allow an expert take control of.
What are common ways accountants bill their clients?
Some Certified public accountants expense per hour, they bill you some bucks per hr relying on how much time they put in. It’s likewise common to bill repaired costs for individual jobs. Your Certified Public Accountant might do your income tax return for one rate and prepare another price quote for the next job. One more popular rate framework is the annual fixed price contract. Your CPA might claim, “I’m going to provide this series of solutions to you, and I’m going to give you limitless phone calls and endless conferences, as well as I’m going to do that all for $X quantity of bucks each year.” That buck quantity would certainly most likely be billed monthly. We usually recommend connections which are not per hour. Repaired charge payment motivates communication between the client and also the Certified Public Accountant. The even more the CPA learns about the client’s organisation as well as their life and what’s going on, the far better advice they can offer. When customers are uncomfortable with picking up the phone, afraid they’re going to get a huge bill, they are less most likely to choose the phone talk with their Certified Public Accountant when they have something on their mind.
What should I expect from my CPA?
What you need to get out of your CPA depends a whole lot on your organisation goals. If you’re a very local business and also you’re not preparing to expand a lot in the near future, possibly all you need is somebody to prepare your income tax return. Nonetheless, perhaps you have an expanding company. You need somebody that can consult with you on staff member matters, monitoring problems, accounting system set up as well as layout. These are some things to think about when imagining the level of commitment you require from your Certified Public Accountant. I generally train my customers to assemble a wish list of points they desire from us. Obviously, the even more dedication a customer needs from us, the larger the interaction will be, which will enhance prices. Starting from the optimum and also functioning down, though, is always the most effective bet. We can trainer you on which things on your wish list will certainly be one of the most impactful to your business and also which ones may be less important. So listing out those details goals you intend to complete with your Certified Public Accountant. “This is what I desire out of that partnership.” Don’t hesitate to make that a quite long listing. What you want to do is pretend money is no item. List everything that you wish to leave this partnership. From that position, you can start to prioritize that list and also say, “these six points are most important in this relationship 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 accounting professional, or a CPA? What’s the difference? The most essential thing is simply that you recognize that these records are being kept and that you feel great in the person maintaining them. An accountant keeps your accounting documents. They get in all transactions, and also they balance your funds. Accountants focus on financial resources, tax obligations, budget plans, business operations, payroll, as well as finance. Yet understand this, there are various types of accountants that concentrate on numerous locations of organisation. In other words, if you damage your leg, don’t go to the skin specialist. You want to see to it that you find the best person for your small company. Smoke Smoke Audit has accountants and also accountants on team. In this manner. When it concerns month-to-month purchase processing, our bookkeepers can do it for a minimal fee. When we’re discussing finance and tax obligation preparation, you have a Certified Public Accountant prepared to step in.
What are the 5 types of accountants?
What is step number one of becoming lucrative in your organisation? You’re mosting likely to need an accounting professional. Now you do not have to hire us. You can hire in residence. If you participate in home, that should you get? There are a lot of options as well as several budgets available that you require to be knowledgeable about. You do not wish to obtain the incorrect individual for the incorrect work description. The very first person you’re mosting likely to hire is your bookkeeper. This is the data access expert. Depending on where you live, you’re going to pay a different amount for this person. If you stay in Idaho, for example, you could be on the lower end around 18 to $20,000 a year. However if you’re in New York City or The Golden State, you could be upwards of 40,000 and even $45,000 a year for the very same placement. Know that this person offers a particular role. They’re not mosting likely to be strong at creating records for you or doing business analytics or accounting procedures. Their work is to get information into the system. And also if you’re a brand-new business owner, likely, you have actually been doing this yourself. It’s smart to offload a few of the hefty dirty work of accountancy, which will allow you to begin examining the records. An accountant is a good hire for anybody ready to expand their business, yet not prepared to invest in the high top rate accounting professionals right now. The next level up men is the accounting professional. Now, a great deal of individuals believe bookkeepers and accounting professionals coincide. They’re not. It’s really, extremely different. You’re going to pay a higher amount for somebody that’s an accounting professional. Your accountant has been putting data into the system all month long. Your accountant generally is assisting to look after that procedure. Then, at the end of the month, your accounting professional will do a few of the more hefty training tasks which need resolving your trial equilibrium as well as making month-end journal access. They will likewise do several of the accrual work that’s mosting likely to require to take place in your financials. In many cases, an accounting professional will certainly aid produce economic declarations. They go to that month’s end setting. 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 process of looking after the whole accounting system. They get to coordinate what’s happening and also when. They see to it the information is getting involved in the system on schedule, which the month and general interests are occurring in a timely manner. The controller is accountable for the final product that’s coming out of the accountancy system. That is the annual report, the income declaration, as well as the cash flow statement. Those sort of documents hinge on the shoulders of your controller. This is an extra pricey setting to fill, and it must be. This person requires to have a lot of experience, should at least a bachelor’s degree in accountancy, if not entering their master’s level. I would anticipate to pay anywhere from $45k to $85k/year for he or she. Currently we’re going to speak about the King or queen in addition to the hill. This is your CFO. CFO stands for “chief financial officer.” They hold a C collection setting in your company. This person’s expensive. You wish to take care when you work with a CFO because not all CFOs are developed equal. Whatever up to this point has been task-related, concentrating on just journal access and debiting and also attributing. When you enter a CFO duty, this calls for tactical reasoning. Not all accountants have that capability. If they’re not able to see the big picture as well as produce strategies that are company advancement relevant, they aren’t received the task. They ought to convert the job that the remainder of the team is doing into objectives for your business. Your CFO requires to make sure that you’re striking 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 generally what I’ve seen nationwide for someone of this caliber. Last but not least is the Certified Public Accountant. The Certified Public Accountant represents “certified public accountant.” If you’ve started your business, you know that you need a tax guy, 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 make sure that you are not spending greater than you require to on taxes. That’s the main goal. However, a CPA usually fills the function of an auditor where they are available in as an independent event. They make sure that your books are exact and also tidy as well as reflective of what’s taking place in the real world. In regards to expense, you’re going to spend anywhere between $125 a hr to upwards of $450 a hr for a certified Certified Public Accountant.

Contact Us

(833) 319-0797