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Author: Knoxymama Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 14993  
Subject: Re: Adding employees Date: 2/3/2005 1:32 PM
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I only have three people in my corporation. Payroll is such a pain that I outsource it to Paychex. It's cheap and takes a great deal off of my plate.

As you grow, just remember that some states require full time employees receive the exact same benefits as you do. This means health care, IRA benefits, etc. Not that this is a BAD thing, but you need to plan accordingly as this is an added cost to your organization. Each state is different in this area, so it's good to know what your state requires. Doesn't seem like an issue regarding your wife - but if you grow you will need to research this.

Another thing to consider - depending on the type of business you run - is cost of workers compensation. Although I'm a small firm, many of my clients absolutely require that I carry this. It's expensive, but yet another loop I have to jump through for my client's business.

Good luck to you!
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