Trying to Save Money Can Cost Money

Problem:

My first year in business was accidental, and chaotic. At the end of the year I had to figure out payroll – I’d just been cutting checks when (and if) I could. I had QuickBooks, but didn’t want to pay the extra $200 or so for the payroll module. I decided to figure out the calculations myself.

Having no experience with payroll other than receiving paychecks, this was a bad idea. I spent an ENTIRE WEEKEND trying to sort out the IRS rules and regulations and make the calculations. It was upsetting, and ultimately I did it wrong, underpaid and got fined down the road.

The next year I forked over the $200 for the payroll module. Life became so much easier. I have never been tempted to D-I-Y on something I know nothing about again.

Lesson:

Choose your battles when it comes to early-stage expenses and DIY. There’s a point where trying to save money costs money.

Thanks to:

anonymous

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