Retailers

Selling and staying relevant in a digital world

Driven by changes in technology, new requirements for online sellers, employee recruiting and retention difficulties, and the need for multichannel marketing to remain competitive, your landscape is moving in new directions.

Some of the key challenges you may face include narrowing margins, inventory control and management, and rapid turnover and difficulties with staffing both brick-and-mortar locations and fulfillment centers.

Retail operations often need assistance in areas such state and local tax compliance for remote sellers post South Dakota v. Wayfair, Inc. Additional solutions are strategic planning, including benchmarking and trend analysis, assessing, recommending, and implementing technology solutions ranging from in-store POS to cybersecurity to data analytic software.

The industry is transforming, creating a new world of opportunity for retail business owners. Proactivity is key to remaining relevant and competitive.

Solutions

Adams Brown provides the following solutions to retailers:

Agreed Upon Procedures, Review and Compilations

Services for providing insight into the accuracy and validity of your retail business’ accounting and financial information to discover and correct issues, install controls, assist with financial decision making, and respond to 3rd party financial information requests.

Business Advisory and Consulting

For retailers seeking guidance in areas in such as strategic planning, growth opportunities, business transformations, or selling, merging, or transitioning their business for new situations.

Outsourced Client Accounting

For retailers seeking to make managing their business easier via outsourcing back office accounting functions like payroll, accounts payable and accounts receivable, analyzing areas for automation and implementing cloud-based solutions, and training staff on new software and procedures.

Tax Planning and Compliance – Business

Tax minimization strategies and tactics at the corporate level with a focus on capturing relevant Federal and State of Kansas incentives, credits and deductions for retailers.

Tax Planning and Compliance – Individual

Tax minimization strategies and tactics for retailers with a focus on opportunities under the new Tax Cut and Jobs Act and recent changes to State of Kansas tax requirements. We also help with tax strategies related to succession planning and exiting the business.

Wealth Management

We help retail owners or families develop and implement customized strategies for achieving long-term goals, strengthening your financial security and maintaining your quality of life.

Other Adams Brown Solutions

For a confidential discussion of your issues and needs, please contact our Retail Team Leader, Ben Wilson, using the fillable “Contact Us” form on this page.

Testimonials

For more than 20 years we have had a strong, stable relationship with Adams Brown. Their knowledgeable team has a strong understanding of our business and have been great partners. They have been instrumental in improving our business and financial operations over the years. We have never considered changing firms and would recommend them to anyone without reservation.

Walt Hill – High Plains Mental Health Center
The prompt, personal service provided by the Adams Brown team is the best benefit in working with this firm. They offer knowledgeable advice and help my business plan for any eventual scenario. Their guidance and support show their commitment to helping our business succeed. I would recommend them to anyone looking for an accounting firm that has the best interest of the business and its success at heart.

John VonLintel – JROBB, LLC
Par Exsalonce has used Adams Brown for over 10+ years for our payroll needs and have found them to be informative, helpful and accommodating. The salon is quite large and we are constantly adding new employees to the two locations. In addition, they handle insurance, IRA, Aflac and other deductions we throw at them! The entire team is wonderful to deal with – from the receptionist to the accountants that handle our diverse business needs. We could not ask for a more knowledgeable and dependable group of people. Our thanks to them many times over!

Teri Mills – Par Exsalonce
“With Adams Brown, we don’t just get a financial advisor – we get a business partner. Our engagement team does an excellent job serving our needs and continually works with us to develop a plan for long-term success. When we come to them with a question, they go above and beyond to get the answer. Knowing we have that kind of support and dedication from our CPA is important. Our company has been in business a long time, and having a partner like Adams Brown will help keep us on a successful path for many years to come.”

Gary Shorman – CEO, Eagle Communications, INC.
“I own a small business that has been running for over 40 years. I am proud to say we have been with Adams Brown for many of them! I am very pleased with the service they provide and their commitment to helping me grow my business. When I first began working with Adams Brown, I received guidance and a set of guidelines to follow that helped me achieve my business goals. I have full confidence that if I am unable to reach my main contact, I will still receive the best service so that I can stay on track. I highly recommend the team at Adams Brown.”

Dan Woolard – Midway Manufacturing, INC.

Supreme Court Rules to Close Online Sales Tax Loophole

Jul 9, 2018

On June 21, 2018, the U.S. Supreme Court ruled that states can impose sales tax on internet retailers, even if the retailer has no physical presence in that state. The…

What’s Next

The very face of retail as we know it has significantly shifted in recent years. Many technologies are on the horizon, such as data analytics, robotics, and artificial intelligence and machine learning, that are certain to continue drastically morphing the industry.

With any change come some challenge, but for retailers there is endless opportunity!

Retailers Team Leader:

Ben Wilson