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
Recent Posts
Supreme Court Rules to Close Online Sales Tax Loophole
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
Contact Us: