Professional Counsel
CPAs and legal counsel provide important guidance, make key recommendations and advise you on pertinent related matters, respectively. However, they do not and cannot make the decisions for you! As a business owner, you are the ultimate decision-maker!
As the key decision-maker, it’s important to know when to consult with professional counsel on matters which can or may materially impact your business so you have the proper guidance and applicable information to make a well-informed decision. While you don’t need to consult with professional counsel on every matter, when a matter requires input from professional counsel, it is important that you seek that counsel.
Often, business owners wait until a situation gets far out of control before seeking professional counsel or they don’t seek counsel because they don’t want to spend the money. Yes, CPAs and legal costs can be expensive; BUT, getting yourself or your business into a deep hole first then seeking counsel after the fact will be much worst, more expensive and can create other major problems for you and your business.
Don’t let situations get out of hand. Be PROACTIVE rather than reactive!