Should I handle my own payroll or pay somebody else to handle it?

Where I operates, there are timeline for submitting certain tax forms every month both for the company and employees of the company. There are penalties for late submission.

It's better you pay someone else to handle it for you. One of the mistakes business owners make is trying to do everything themselves. Some believe, “if you don't do it yourself, nobody does it better”

That's the mentality of a sole proprietor. If you were an entrepreneur, you will put systems in place and allow your money to work for you.

You can't focus on production, accounting, marketing and other administrative tasks all by yourself.

Where I operates, there are timeline for submitting certain tax forms every month both for the company and employees of the company. There are penalties for late submission.

Most 'sole proprietors’ always miss the deadline because they are carried away by other tasks. The penalties they pay are most times three times higher than what they will pay as retainership for a consultant or a clerk to handle this reoccurring task for them.