One Giant Debt-Reduction Leap

Last year, when one of our businesses—the one with employees—started to tank, we got behind in payroll taxes. It reached a point where we had to let everyone go and it has taken us a year to catch up. If you own a business, I cannot stress enough the importance of paying IRS liabilities on time. The penalties and interest can be financially crippling, not to mention the toll it will take on your emotional health.

Friday, I sent a check to the IRS paying off the balance we owed. This is an enormous monkey off my back.