Why You Need a Professional CPA in Your Corner

A few years ago, I worked with a retail shop owner who opened a new
store in Prescott Valley. She secured a great deal on the lease since she
was moving into a space that had been occupied by someone in a similar
line of business. To get the store set up, she invested most of her
retirement funds, purchasing brand new equipment and display cases. Business was good at first, but then dropped off.

The new owner wasn’t profitable yet, but took advantage of another opportunity that came her way. The landlord offered her anther space nearby that was
perfect for a second store. She snapped that up.
“Why did you do this,” I asked her, “when the first store isn’t yet
profitable?” “I thought having two stores would double my revenue potential,” was her reply.

Really?
In reality, the move doubled her expenses and eroded sales from the first store.
After a year, she went out of business and had lost nearly all of her retirement income. This might have been avoided with proper financial counsel.
The right CPA will act as your financial advisor. He or she can help you make the right decisions about whether or not it’s time to expand.
Sometimes adding more debt can be the right answer, but not usually.

Your CPA is your financial partner, watching out for your best interests.
A consultation could save you from the wrong decision and financial commitments you may regret down the road.