u003ch2u003eu003cspan style=u0022color: #002f87;u0022u003eAccounting and Advisory Services for Retailers and Wholesalersu003c/spanu003eu003c/h2u003ernNo two days are the same. This is both the blessing and curse of owning a retail business. While this makes your job fulfilling and exciting, it can also make it hard to plan for the months and years ahead. A laundry list of factors can affect your bottom line, from seasonal demand to commodity pricing. Depending on your industry, there are countless regulations to pay attention to and tax requirements to fulfill. Of course, all of this is further complicated if your business has a lot of moving parts.rnrnAt JAK, we understand the unique needs of retailers and wholesalers. We work with both brick-and-mortar and online retailers in the pharmaceutical, building supply, grocery, liquor, medical equipment, and sporting goods spaces, to name a few. Our accountants and consultants are here to help you manage the ever-changing demands of your business and increase your profits for the long haul.rnrnOur accounting and u003ca href=u0022https://jakcpa.com/services/consulting/u0022u003econsulting services u003c/au003efor retail clients include:rnu003culu003ern tu003cli aria-level=u00221u0022u003eu003ca href=u0022https://jakcpa.com/services/tax-consultant/u0022u003eTax return preparationu003c/au003eu003c/liu003ern tu003cli aria-level=u00221u0022u003eFinancial statement audit, review, and compilationu003c/liu003ern tu003cli aria-level=u00221u0022u003eAgreed upon procedures for inventory countsu003c/liu003ern tu003cli aria-level=u00221u0022u003eu003ca href=u0022https://jakcpa.com/services/business-succession-planning/u0022u003eSuccession planningu003c/au003eu003c/liu003ern tu003cli aria-level=u00221u0022u003eEntity selectionu003c/liu003ern tu003cli aria-level=u00221u0022u003eSales tax audit assistanceu003c/liu003ern tu003cli aria-level=u00221u0022u003eu003ca href=u0022https://jakcpa.com/services/tax-consultant/business-tax/u0022u003eBusiness consultingu003c/au003eu003c/liu003ern tu003cli aria-level=u00221u0022u003eQuickBooks consultingu003c/liu003ern tu003cli aria-level=u00221u0022u003eu003ca href=u0022https://jakcpa.com/bookkeeper-vs-accountant-which-is-right-for-your-business/u0022u003eBookkeepingu003c/au003eu003c/liu003ernu003c/ulu003e
Retail and Wholesale Tax & Accounting
Servicing Minneapolis, St. Paul MN, and surrounding areas.
u003ch4u003eu003cspan style=u0022color: #002f87;u0022u003eIs There a Better Way to Manage Your Inventory?u003c/spanu003eu003c/h4u003ernManaging inventory is critical to a successful retail business. Determining the right amount of inventory to hold can be a challenge, especially if your business is prone to seasonality. And then there’s the physical counting of it. If you find yourself dreading inventory count days, we have good news: It doesn’t have to be a taxing ordeal. There are ways to do it that don’t involve staying overnight with a very long product list!rnrnThe u003ca href=u0022https://jakcpa.com/about-us/our-team/u0022u003eJAK + Co. teamu003c/au003e can observe your current inventory count process and offer recommendations for improvements. We can even assist you in conducting inventory counts if needed. As part ofu003ca href=u0022https://jakcpa.com/services/u0022u003e our servicesu003c/au003e, we can also analyze inventory on your balance sheet and income statement to help you determine the appropriate amount of inventory to hold.
u003ch4u003eu003cspan style=u0022color: #002f87;u0022u003eWhat Is a Good Retail Profit Margin?u003c/spanu003eu003c/h4u003ernThe truth is, different businesses require different profit margins. An appropriate profit margin may even vary between different locations of the same business. The right margin for your business will depend on several factors such as your industry, overhead expenses, and goals. Your JAK u003ca href=u0022https://jakcpa.com/u0022u003eCPA Firmu003c/au003e can help you calculate this number. If your business has multiple locations, we can help you establish margins as well as the amount of location-specific volume you’ll need to make ends meet.rnu003ch4u003eu003cspan style=u0022color: #002f87;u0022u003eWhat Retailers Should Know About Sales Taxu003c/spanu003eu003c/h4u003ernIt’s easy to get tripped up in knowing when to collect and pay sales tax. This is especially true when dealing with municipal sales and use taxes or out-of-state customers. Regarding the latter, knowing if you’ve created nexus is critical—and the rules vary from state to state. Our accountants can help you determine your state and local sales tax obligations and make sure you’re in compliance with applicable rules.rnrnIf you’re selected for a sales u003ca href=u0022https://jakcpa.com/services/audit-and-assurance/u0022u003etax auditu003c/au003e, don’t fret! We can help you organize the finding for the requests and meet with the sales tax auditor on your behalf. We’ll be at your side until the audit is complete.
u003ch4u003eu003cspan style=u0022color: #ffffff;u0022u003eWhat’s Next for Your Retail or Wholesale Business?u003c/spanu003eu003c/h4u003ernu003cspan style=u0022color: #ffffff;u0022u003eWhether you’re just getting started or celebrating decades in business, it’s important to have a plan for the future. How will economic and consumer trends impact your business? Will you expand? When is a good time to hand over the reins to the next generation? Your JAK business consultant can sit down with you to help you identify goals and weigh your options. If you plan to expand, we can guide you through the process of establishing a new product line, location, or business. And if you’re ready to think about the next chapter of your life, our succession planning experts can walk you through the u003ca style=u0022color: #ffffff;u0022 href=u0022https://jakcpa.com/now-time-start-transition-planning-process/u0022u003etransition process.u003c/au003eu003c/spanu003e
u003ch4u003eu003cspan style=u0022color: #002f87;u0022u003eHow Our Accounting Firm Helps Retailersu003c/spanu003eu003c/h4u003ernThe JAK team has deep insight into the u003ca href=u0022https://jakcpa.com/services/accounting/u0022u003eaccountingu003c/au003e rules and regulations that govern retail businesses. Our not-too-big-yet-not-too-small size means we can act quickly to meet your needs, regardless of the size of your operations. We’re aware of the pressures you face, and we’re ready to help make your life easier. u003ca href=u0022https://jakcpa.com/contact-us/u0022u003eContact us todayu003c/au003e.