Bookkeeping and Accounting for Cigar Shops

In search of a bookkeeper and accountant for your cigar shop? We handle your books, so you can spend more time perfecting your product selection. Try us for free.

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How Bench works with cigar shops

Flick a stress-free ash on your bookkeeping worries. From income tax prep to filing, our team of experts, supported by one robust platform, have got your cigar shop covered. Sit back and enjoy, as Bench meticulously works with your business.

We get you set up

Our team invests the time to thoroughly comprehend your cigar shop, address your queries, assist in connecting your accounts, and demonstrate how Bench can work effectively for your business.

We do your bookkeeping

Each month, your dedicated bookkeeper sorts out your cigar shop's transactions and compiles financial statements. If they require any further information from you, they'll promptly reach out.

We deliver tax-ready financials

Our team of experts is well-versed in the specific tax rules related to cigar shops and will tailor their approach to suit your businesses' distinctive requirements.

Here’s why cigar shops like you trust Bench with their bookkeeping and accounting

Get fast, unlimited support from our expert advisors

We'll communicate regularly with bookkeeping updates tailored specifically for your cigar shop. Have urgent queries that need immediate attention? We guarantee responses within one business day or less.

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screenshot of Bench support app

Guaranteed accuracy in every detail

Our platform is designed to streamline your bookkeeping process, specifically designed for cigar shops. We offer integrations with major providers to automatically import your data, ensuring precision and reducing errors. We partner with leading retail and payment merchants like Shopify, Stripe, and Square, allowing your cigar shop's finances to always be up-to-date and accurate.

See where you’re spending. Make smart decisions

Bid farewell to heaps of invoices and time-draining manual record keeping—we automate data directly from your linked accounts. Get insights from one unified dashboard to effortlessly comprehend the health of your cigar shop and make strategic decisions.

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Bench integrates with your favorite small business tools

We sync seamlessly with your financial accounts and tools to keep your books up-to-date and save you the time and effort of manually uploading documents.

Trusted by 25,000+ American small business owners

“Bench helped me replace QuickBooks, and save about 6 hours per month of horrible accounting work, which is priceless.”

CHRIS RONZIO

CEO, TRAINUAL
“This is the first year where it’s tax season and I don’t feel anxious one bit.”

DR. BUKKY KOLAWOLE

FOUNDER/EXECUTIVE DIRECTOR, RELATIONSHIP HQ
“Bench has lifted a giant weight off my shoulders and freed up my time so I can focus on earning money and working with clients, meetings and calls.”

HEATHER SHOLL

FOUNDER, THE VILLAGES GYM
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We know bookkeeping for cigar shops

Bench understands the unique bookkeeping challenges that cigar shop owners face. You're contending with issues such as inventory management, excise taxes on tobacco, as well as complex laws and regulations around selling tobacco products. The world of tobacco retail is unique, and you require a bookkeeping solution that’s tailored to your industry's needs. At Bench Accounting, we do exactly that by offering services that are tailored to your cigar shop’s exact requirements, ensuring your books are always up-to-date and allowing you to focus on the important aspects of running your business.

Inventory management can be a significant pain point for cigar shop owners, that's where Bench steps in. Our intuitive software paired with dedicated bookkeepers will help manage your store's inventory, tracking the ins and outs of your stock. Keeping an eye on the inflows and outflows of your inventory can be overwhelming and time-consuming, but worry no more. Our bookkeepers are also quite knowledgeable when it comes to the specific excise taxes and laws associated with selling cigars. They will handle your financials, ensuring your cigar shop is always compliant. These services not only keep your store running smoothly but also prepare you for a stress-free tax season. With Bench, you can light up and relax, knowing your business's books are in capable hands.

Simple, straightforward pricing for everything your business needs.

Get bookkeeping, tax prep, advisory, and filing with Bench's powerful, easy-to-use platform.

Choose Plan

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$249/mo

billed annually

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$399/mo

billed annually

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$299/mo

billed monthly

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$499/mo

billed monthly

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Frequently Asked Questions

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What specific tax regulations apply to cigar shops and how can professional bookkeeping help manage them?

Specific tax regulations for cigar shops largely revolve around tobacco taxes, which vary greatly by location. Federal, state, and sometimes even local laws can all impact these taxes. In addition, general sales, income, and payroll taxes are also applicable, as with any business. Regulations in regard to tobacco taxation involve aspects such as rates, tax description, computation, payment times and ongoing changes to the law.

Professional bookkeeping can help cigar shop owners effectively manage these complex tax regulations. Proactive tracking of sales combined with a good understanding of tax laws ensures that the necessary money is set aside for tax payments. Moreover, bookkeepers stay up-to-date with any changes in the laws, and thus can ensure that the business remains in compliance. Bookkeepers also prepare detailed reports which are helpful during audit procedures. In essence, a professional bookkeeper can significantly ease the burden of tax-related obligations and let you focus on your core business.

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How can Bench Accounting help me maintain proper inventory records for my cigar shop?

Bench Accounting provides dedicated bookkeeping services tailored for different industries, including cigar shops. By handling tasks such as recording sales and purchases, tracking inventory, and reconciling bank statements, our team can ensure that your inventory records are always accurate and up-to-date. This enables you to have a clear understanding of your stock levels, which can be vital in making informed purchasing decisions and managing cash flow effectively. So, you can focus on running your cigar shop, while we look after the bookkeeping.

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How should a cigar shop account for depreciation of assets such as humidors and other retail equipment?

A cigar shop should account for depreciation of assets such as humidors and other retail equipment by implementing a systematic approach to depreciation. This typically includes identifying the asset's initial cost, estimating its salvage value (the likely value at the end of its usability), and determining its useful life (how many years it will be productive for the business).

A common method used is the straight-line depreciation method, where the same amount is expensed each year over the asset's useful life. The formula for straight-line depreciation is: (Cost of Asset - Salvage Value) ÷ Useful Life.

It's important to consult with a professional accountant or bookkeeper to ensure the correct handling of depreciation for tax purposes and in compliance with accounting standards. Bench Accounting provides expert bookkeepers who have the expertise in handling depreciation and other accounting requirements appropriate for your business industry.

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Does Bench outsource bookkeeping?

Nope! All bookkeeping is completed in-house.

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Will I have one point of contact?

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

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How much time each month will I have to spend managing my Bench account?

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.

Bookkeeping Services for Cigar shops

Discover how we can help you have better finances with a personalized demo from a Bench expert, ready to answer all your questions. Sign up as a customer today and get a free month of bookkeeping, valued at $299.

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