Select Page

Wyoming Cannabis Accounting

Puff Puff Accounting, serving Wyoming, 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.

R

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.
R

We're Affordable

When we work with small cannabis businesses, basically we become their affordable in house CFO.
R

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.

%

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.

Wyoming 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.
n

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

[email protected]

Frequently Asked

When is it time to hire a CPA for my cannabis business?

There are absolutely ways to handle your bookkeeping yourself as well as Do It Yourself it. Alternatives like QuickBooks have actually made this possible, however I warn you, if you are doing among these two things, you most likely require to allow somebody else deal with it.

  1. If you are secretly asking yourself if you’re also doing this right in all, that’s a warning.
  2. If you’re refraining it in all because well you don’t understand what to do as well as it’s overwhelming, that’s a big red flag and also it’s time to allow an expert take over.
What are common ways accountants bill their clients?
Some CPAs bill per hour, they charge you some dollars per hour relying on just how much time they place in. It’s likewise common to charge repaired costs for private projects. Your Certified Public Accountant might do your income tax return for one price as well as prepare an additional quote for the following job. Another prominent cost framework is the yearly set cost arrangement. Your CPA may claim, “I’m going to give this series of services to you, and I’m mosting likely to provide you unrestricted phone calls and unrestricted meetings, as well as I’m going to do that all for $X amount of bucks annually.” That buck amount would more than likely be billed monthly.

We typically suggest partnerships which are not per hour. Repaired fee payment urges communication in between the client as well as the CPA. The even more the CPA knows about the client’s business and their life and also what’s taking place, the better recommendations they can provide. When customers are uncomfortable with picking up the phone, worried they’re going to get a large bill, they are much less likely to pick the phone talk with their CPA when they have something on their mind.

What should I expect from my CPA?
What you need to expect from your CPA depends a lot on your organisation goals. If you’re an extremely small company and also you’re not preparing to grow a lot in the near future, perhaps all you require is somebody to prepare your tax return. Nevertheless, maybe you have a growing organisation. You require someone that can talk to you on worker issues, administration issues, accounting system established as well as layout. These are some things to think about when picturing the degree of commitment you need from your Certified Public Accountant.

I generally trainer my clients to put together a want list of things they desire from us. Obviously, the even more dedication a customer needs from us, the bigger the involvement will certainly be, which will enhance prices. Beginning with the maximum and also working down, however, is constantly the best wager. We can train you on which things on your shopping list will certainly be the most impactful to your business as well as which ones may be less important.

So list out those particular purposes you want to accomplish with your Certified Public Accountant. “This is what I desire out of that connection.” Do not hesitate to make that a quite long listing. What you intend to do is pretend cash is no things. Checklist every little thing that you desire to leave this connection. From that position, you can begin to prioritize that checklist and state, “these six things are essential in this connection that I’m mosting likely to have.”.

Do I need a bookkeeper or an accountant for my business?
So how do you know who you need to employ? Should it be a bookkeeper, an accounting professional, or a CPA? What’s the difference? The most important thing is simply that you recognize that these documents are being kept which you feel great in the person maintaining them.

An accountant maintains your audit documents. They get in all deals, and also they balance your funds. Accounting professionals focus on financial resources, taxes, spending plans, service procedures, payroll, and money management. However know this, there are different types of accounting professionals who concentrate on numerous locations of organisation. To put it simply, if you break your leg, do not most likely to the skin doctor.

You wish to see to it that you find the best individual for your small company. Puff Smoke Bookkeeping has bookkeepers and also accounting professionals on staff. In this manner. When it pertains to month-to-month transaction handling, our bookkeepers can do it for a lesser charge. When we’re speaking about money management as well as tax obligation preparation, you have a CPA ready to step in.

What are the 5 types of accountants?
What is step primary of becoming lucrative in your business? You’re mosting likely to require an accountant. Now you do not need to hire us. You can hire in residence. If you participate in residence, that should you get? There are a lot of choices as well as several spending plans around that you require to be knowledgeable about. You do not want to obtain the wrong individual for the incorrect work summary.

The initial person you’re mosting likely to work with is your accountant. This is the information entrance specialist. Relying on where you live, you’re mosting likely to pay a different amount for he or she. If you stay in Idaho, as an example, you might be on the reduced end around 18 to $20,000 a year. However if you remain in New York or California, you could be upwards of 40,000 and even $45,000 a year for the very same placement. Know that this person serves a particular duty. They’re not going to be solid at producing reports for you or operating analytics or accounting processes. Their work is to obtain data right into the system. And also if you’re a new business owner, likely, you’ve been doing this on your own. It’s clever to unload some of the heavy grunt work of accounting, which will certainly enable you to begin evaluating the records. An accountant is a great hire for anybody ready to increase their organisation, yet not prepared to purchase the high leading tier accountants right now.

The following degree up people is the accountant. Now, a lot of people think bookkeepers and accounting professionals coincide. They’re not. It’s very, extremely various. You’re going to pay a greater quantity for someone that’s an accounting professional. Your accountant has been placing data into the system all month long. Your accounting professional commonly is aiding to supervise that process. After that, at the end of the month, your accountant will do a few of the more hefty lifting tasks which require reconciling 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 take place in your financials.

In some cases, an accounting professional will certainly assist create economic declarations. They go to that month’s end setting. For an accountant, depending again on where you live, you can expect to pay anywhere from perhaps $30k approximately $60k/year.

The next degree up is the controller. The controller loads the process of looking after the entire accountancy system. They get to orchestrate what’s occurring as well as when. They see to it the data is entering into the system on time, and that the month and basic passions are occurring on schedule. The controller is responsible for the final product that’s coming out of the accountancy system. That is the balance sheet, the earnings declaration, as well as the capital statement. Those sort of papers rest on the shoulders of your controller. This is an extra pricey placement to load, and it should be. This person requires to have a lot of experience, should at least a bachelor’s degree in bookkeeping, otherwise getting into their master’s degree. I would certainly expect to pay anywhere from $45k to $85k/year for he or she.

Currently we’re mosting likely 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 suite placement in your company. This person’s expensive. You want to take care when you work with a CFO since not all CFOs are produced equivalent. Whatever as much as this factor has actually been task-related, focusing on simply journal entries and debiting and also crediting. When you enter a CFO role, this calls for calculated thinking. Not all accounting professionals have that ability. If they’re unable to see the big picture as well as develop strategies that are service development related, they aren’t received the task. They must translate the work that the rest of the team is doing into goals for your firm. Your CFO needs to make sure that you’re hitting the targets you require to hit with the right amount of cash behind each goal. For a CFO, you can expect to pay anywhere from $75k to $250k/year. That is generally what I’ve seen across the country for somebody of this quality.

Lastly is the Certified Public Accountant. The CPA means “cpa.” If you’ve started your company, you recognize that you need a tax individual, right? That’s the CPA. His task is to do two things. One is to prepare your tax obligation strategy. That is to take every little thing you’re doing throughout the year and prepare it to ensure that you are not investing more than you need to on tax obligations. That’s the primary objective. However, a CPA usually fills up the role of an auditor where they come in as an independent event. They make certain that your books are precise as well as tidy and also reflective of what’s happening in the real world. In regards to expense, you’re going to spend anywhere in between $125 a hr to upwards of $450 an hour for a certified Certified Public Accountant.

Contact Us

(844) 382-8160