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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

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.

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 absolutely means to take on your accountancy yourself and Do It Yourself it. Options like QuickBooks have made this feasible, but I caution you, if you are doing among these two things, you probably require to allow somebody else deal with it.

  1. If you are secretly questioning if you’re also doing this right whatsoever, that’s a warning.
  2. If you’re refraining from doing it whatsoever because well you do not understand what to do and also it’s frustrating, that’s a massive red flag and also it’s time to let a specialist take over.
What are common ways accountants bill their clients?
Some CPAs costs per hour, they bill you some bucks per hr depending upon just how much time they place in. It’s also common to bill repaired charges for specific tasks. Your CPA may do your tax return for one cost as well as prepare one more quote for the next job. Another prominent price framework is the yearly set cost agreement. Your CPA could say, “I’m going to supply this range of solutions to you, and also I’m going to provide you unrestricted phone calls as well as endless conferences, and I’m going to do that all for $X quantity of dollars per year.” That buck amount would most likely be billed monthly. We typically suggest relationships which are not hourly. Repaired fee payment encourages interaction in between the client and the CPA. The even more the CPA learns about the customer’s business and their life and what’s going on, the far better advice they can provide. When customers are unpleasant with grabbing the phone, worried they’re going to get a big expense, they are less likely to choose the phone talk with their CPA when they have something on their mind.
What should I expect from my CPA?
What you should get out of your Certified Public Accountant depends a lot on your business goals. If you’re a very small company and you’re not preparing to grow much in the near future, maybe all you need is someone to prepare your tax return. Nevertheless, probably you have an expanding service. You need someone that can seek advice from you on worker matters, administration issues, accounting system set up and layout. These are some points to consider when picturing the degree of commitment you need from your Certified Public Accountant. I commonly instructor my clients to assemble a wish list of points they want from us. Naturally, the even more commitment a client requires from us, the larger the engagement will certainly be, which will certainly increase costs. Beginning with the optimum and also working down, though, is constantly the best bet. We can coach you on which products on your want list will be the most impactful to your service as well as which ones might be less important. So list out those specific objectives you want to accomplish with your CPA. “This is what I desire out of that relationship.” Do not hesitate to make that a pretty lengthy checklist. What you intend to do is pretend money is no item. Checklist every little thing that you desire to get out of this partnership. From that setting, you can begin to focus on that checklist and also claim, “these 6 things are most important in this relationship that I’m mosting likely to have.”.
Do I need a bookkeeper or an accountant for my business?
So exactly how do you know who you need to work with? Should it be a bookkeeper, an accountant, or a CPA? What’s the distinction? One of the most vital point is just that you recognize that these documents are being kept and that you feel confident in the person maintaining them. A bookkeeper preserves your audit records. They go into all purchases, and also they balance your funds. Accounting professionals concentrate on finances, taxes, spending plans, business operations, pay-roll, and also money management. But know this, there are different kinds of accountants that focus on various areas of organisation. In other words, if you damage your leg, do not most likely to the skin specialist. You want to make certain that you locate the right individual for your small business. Puff Smoke Audit has bookkeepers as well as accountants on staff. In this manner. When it pertains to regular monthly purchase processing, our bookkeepers can do it for a lesser cost. When we’re talking about finance and tax preparation, you have a CPA prepared to step in.
What are the 5 types of accountants?
What is step top of ending up being profitable in your company? You’re going to require an accountant. Currently you don’t have to employ us. You can work with in residence. If you take part in home, who should you obtain? There are a lot of options as well as many different spending plans available that you need to be familiar with. You do not wish to obtain the incorrect individual for the incorrect task summary. The first person you’re going to work with is your bookkeeper. This is the information access specialist. Depending on where you live, you’re mosting likely to pay a different quantity for he or she. If you reside in Idaho, as an example, you might be on the lower 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 offers a details duty. They’re not mosting likely to be solid at creating reports for you or operating analytics or accounting processes. Their task is to get information right into the system. And also if you’re a new business owner, likely, you’ve been doing this yourself. It’s smart to offload some of the heavy grunt work of accountancy, which will allow you to begin assessing the reports. A bookkeeper is a great hire for anyone prepared to increase their business, but not prepared to purchase the high leading rate accountants right now. The following degree up people is the accounting professional. Currently, a lot of people think accountants and also accounting professionals coincide. They’re not. It’s extremely, really various. You’re going to pay a higher amount for somebody that’s an accounting professional. Your accountant has actually been placing data into the system all month long. Your accountant generally is helping to look after that procedure. Then, at the end of the month, your accountant will do a few of the even more heavy training tasks which call for resolving your test balance and making month-end journal access. They will certainly also do a few of the accrual job that’s going to need to occur in your financials. Sometimes, an accountant will help develop economic declarations. They go to that month’s end position. For an accountant, depending again on where you live, you can anticipate to pay anywhere from possibly $30k as much as $60k/year. The following degree up is the controller. The controller loads the process of overseeing the whole audit system. They reach coordinate what’s happening and when. They see to it the information is entering into the system on time, and that the month and basic rate of interests are happening in a timely manner. 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, as well as the capital statement. Those sort of papers hinge on the shoulders of your controller. This is a much more pricey setting to fill, as well as it should be. This person requires to have a great deal of experience, need to at least a bachelor’s level in audit, otherwise entering their master’s level. I would expect to pay anywhere from $45k to $85k/year for this person. Currently we’re going to talk about the King or queen in addition to the mountain. This is your CFO. CFO represents “primary financial officer.” They hold a C collection position in your business. He or she’s costly. You wish to be careful when you hire a CFO due to the fact that not all CFOs are created equal. Every little thing approximately this point has actually been task-related, focusing on simply journal entries and also debiting and attributing. When you step into a CFO function, this requires tactical reasoning. Not all accountants have that capacity. If they’re not able to see the big picture and develop strategies that are business development associated, they aren’t received the job. They must equate the job that the remainder of the group is doing into goals for your business. Your CFO requires to make certain that you’re striking the targets you require to hit with the correct amount of money behind each objective. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is normally what I have actually seen across the country for somebody of this quality. Last but not least is the Certified Public Accountant. The Certified Public Accountant stands for “cpa.” If you’ve begun your business, you understand that you require a tax man, right? That’s the Certified Public Accountant. His work is to do two things. One is to prepare your tax obligation strategy. That is to take whatever you’re doing throughout the year and prepare it to make sure that you are not spending more than you need to on taxes. That’s the major objective. However, a CPA typically loads the duty of an auditor where they come in as an independent party. They ensure that your publications are exact and clean and also reflective of what’s taking place in the real world. In regards to expense, you’re mosting likely to invest anywhere in between $125 a hr to upwards of $450 a hr for a certified Certified Public Accountant.

Contact Us

(833) 319-0797