Here’s a cautionary tale to consider if you’re planning to upgrade your time card to a high-tech electronic system.

No evidence could be found in the latest rail volume reports of the federal government’s recent predictions that the economy would improve soon. The grim news about rail volumes follows by days a congressional hearing during which Federal Reserve Chairman Ben Bernanke said he saw “green shoots” indicating the economy is on the upswing.

If, like many employers, you rely on a bonus plan to help retain valued employees and motivate them to work hard, don’t get caught in this common trap: Employees who worked overtime during the bonus-earning period will be entitled to additional overtime pay after they get their bonuses.

The $789 billion American Recovery and Reinvestment Act of 2009 (ARRA) signed on Feb. 17 by President Obama includes a handful of key HR-related provisions, including: COBRA subsidies, a Making Work Pay Credit and unemployment compensation.

At least 40% of organizations are likely to freeze or change their pension benefits because of the recession, a new poll reveals.

Q. We plan to give gasoline gift cards to employees as incentives for picking up additional shifts. Are these cards taxable? Can we, the employer, simply pay the employees’ portion of the taxes?

The massive new “American Recovery and Reinvestment Act of 2009” signed by President Obama on Feb. 17 is bursting at the seams with tax breaks designed to help both individuals and small businesses. Here’s a roundup of 14 tax strategies under the new law.

Several states, including Illinois, California, Massachusetts and New York, are getting tough on employers that violate sales-tax laws, according to an Associated Press report. Researchers at the Tax Foundation say smaller businesses tend to be the biggest tax evaders.

A California appeals court has overturned a large punitive damages jury award in a case involving underpaid wages and missed meal and break periods. Had the court upheld the awards, employers would have had a whole new reason to lose sleep over inaccurate payroll records.

Q. How often do I have to pay my employees? Are there any rules that require payment upon termination within a specific time period?

In these uncertain economic times, small business owners may think about outsourcing certain payroll duties to third-party service providers. Alert: The IRS is cautioning taxpayers about tax traps in this area. Outsourcing payroll duties doesn’t relieve your company of its obligations to make timely employment tax deposits.

Q. I recently discovered that an employee who handles my company’s accounts receivable has filed for bankruptcy. Can I discharge this employee?

Once resistant to the money-saving practice of getting paid through direct deposit, employees now say they favor electronic payments over traditional paychecks.

These days, most small businesses rely—either somewhat or heavily—on software applications. According to a new report by PC World magazine, here are 15 of the best free and low-cost software tools for powering any small or midsize business.

It has been said that nothing can make or break a presentation like a good graphic. The chart that state House and Senate analysts recently showed members of the Legislative Commission on Planning and Fiscal Policy certainly made an impression.

Q. We recently had a power outage and called employees who weren’t in yet to tell them to come in when the power was back up. We then gave these people a chance to make up the lost time by working late or using paid time off. Do we have to pay them for the hours they missed?

The economy may be shaky, but employee confidence that their paychecks are accurate remains firm, according to the National Payroll Association, which recently conducted a “Getting Paid in America” survey.

Gregory Lockhart, owner of Laser Saver Inc., a printer cartridge remanufacturer in Columbus, has pleaded guilty to willful failure to file financial reports for the company’s 401(k) plan with the U.S. Department of Labor.

Congress has changed the deadline for providing copy B of certain 2008 information returns. (P.L. 110-343) The new due date is Tuesday, Feb.17, 2009, instead of Feb. 2, 2009, as reported in the IRS instructions. The change applies to the following forms ...

The proper tracking of any businesses finances is critical. Without a good system in place, a firm can miss billable hours, misdirect fees or unnecessarily perpetuate a frustrating and time-consuming daily experience. Fortunately, quality accounting software programs exist to specifically assist small to mid-sized businesses in day-to-day accounting matters.

Even in a good economy, about one-third of new small businesses don’t survive the first year. The No. 1 reason: poor financial management, which is often preventable. So how can a business survive in a bad economy? Smart cash-flow management is vital.

The IRS recently announced new standard mileage rates for 2009. The rates are higher than those initially set a year ago—including 55 cents a mile for business driving in 2009—but lower than the midyear adjustment in 2008.

A cynic might say a 4% average earnings decline isn’t enough, but at least the highest-paid executives in America’s publicly traded corporations are feeling some of the pain of the financial meltdown.

As things stand now, the “bonus depreciation” deduction and doubled Section 179 deduction included in last year’s economic stimulus law last for just one year. But Congress might agree to extend the deadline longer ...

Did your company overpay its estimated tax for 2008 due to a slowdown in holiday sales or fluctuating income throughout the year? You can recoup the overpayment before you file your corporate tax return in March (or later if you apply for an extension).