Free March Webinars
Did you know SDP provides complimentary training and resources to help your business?
This month, we're offering courses on HR, data security, and streamlining payroll processes. Check out the full schedule here!
Infographic: ACA Penalty Notices
ACA Penalty Notice Infographic
Presidential Budget's Impact on Payroll
American Budget
The President has submitted the 2019 budget proposal. Read on to learn what the proposal could mean for your business:
Quick Links To Our Website

IRS Forms
Dept. Of Labor Information
Payroll Deductions Calculator
(Click Image Below)
Client Spotlight: Clarem ont Community Foundation
 
Claremont Community Foundation
For this month's client spotlight, we sat down with Aurelia Brogan and Jose Vera of the Claremont Community Foundation. 

Click here  for the full story and a special invitation to CCF's annual Party Parade fundraiser!
 
Southland Data Processing's Payroll & HR
Newsletter
Tax Cuts & Jobs Act
 
Key Highlights:  2018 Tax Reform
Impact for Businesses and Individuals
 
Congress just approved its first major tax overhaul since 1986. In light of the recent passing of the Tax Cuts and Jobs Act (TCJA), you're probably wondering what the new bill will mean for you and your business.

Since the actual bill is nearly 200 pages long (don't believe us? Check out the full text here!), we've put together some of the key highlights of the TCJA to give you an idea of which changes may impact you or your business.
   
Business Tax Provisions
  • Bonus depreciation: The new law doubles the first-year "bonus depreciation deduction" from 50% to 100%, but phases it out after five years. The deduction generally won't be available after 2026.
  • Corporate AMT: The corporate alternative minimum tax (AMT) system is completely repealed.
  • Corporate tax rates: The corporate tax rate structure, which features a top rate of 35%, is replaced with a flat 21% rate.
  • Interest deductions: Deductions for business interest expenses are capped at 30% of AGI, subject to certain special rules. However, a small business with average gross receipts of $15 million or less for the past three years is exempt.
  • Pass-through entities: Under the new law, pass-through entities (e.g. partnerships, S corporations, LLCs, sole proprietors) can claim a 20% deduction on earnings, subject to special rules restrictions. The deduction is not available to higher-income personal service providers. More Business Tax Provisions...
Individual Tax Changes
  • Child tax credit: The child tax credit (CTC) is doubled from $1,000 per qualified child to $2,000, subject to a phase-out for high-income taxpayers. Under a late amendment, $1,400 of this credit is refundable. In addition, the new law creates a $500 nonrefundable credit for non-child dependents. 
  • Health insurance: The new law repeals the health insurance mandate for individuals established by the ACA. This change doesn't take effect until 2019. 
  • Mortgage interest: Although deductions for prior debt is grandfathered, the new law limits the mortgage interest deduction to interest paid on the first $750,000 of acquisition debt, down from $1 million. It also eliminates deductions for interest paid on home equity debt. 
  • Standard deductions: The standard deduction is effectively doubled to $12,000 for single filers and $24,000 for joint filers, while the additional standard deductions for the elderly and blind are retained. 
  • Tax rates: The new law lowers tax rates for individuals and adjusts the bracket amounts. For 2018 through 2025, the tax rates are:

And more! Click here for the full article and our complete list of key highlights for the TCJA's provisions affecting business and individual tax filings.

Trending Business Tips & News
7 Habits That Will Make You Achieve More In Your Career (Inc.com)
Habits are tricky things. They can fuel higher levels of performance or act like kryptonite, suppressing your potential. Fortunately, we have control over habits, although some may be more difficult to form or change than others.  Read More
 
5 Productivity Practices to Stress Less and Do More (BusinessNewsDaily.com)
Organization is something many people strive for but find hard to achieve. However, it's a good goal to have. Being organized and efficient at work not only makes you a more valuable employee, but can also 
significantly reduce stress.  Read More

IRS Posts 2018 W-4 & New Withholding Calculator Calculator
(AALRR.com)
Recently, both the Internal Revenue Service (IRS) and California Franchise Tax Board (FTB) issued news releases encouraging taxpayers to plan ahead and withhold the correct amount of taxes from their paychecks in 2018 to account for recent changes in federal tax law.  Read More

3 Tips For Effective Coaching
Coaching Tips
(SDPpayroll.com)
No one wants to become the big bad boss of their childhood nightmares. Check out these tips for a more effective (and kinder!) coaching strategy than the typical "reward-and-punish" mentality. After all, isn't it every boss' dream to empower their employees so they can thrive?  Read More

Make Your Benefits Website a Year-Round
Hub (SHRM.com)
ESS  benefits
Conversations with employees about benefits often only occur once a year at open enrollment. However, a well-designed benefits website can increase employee engagement year-round, making them more likely to value and use the offerings. (PS if you're on Connect, you can customize the platform for your benefits hub!) Read More

Want To Be Great Leader, Then Become 
Teaching
A Great Teacher (Inc.com)
Long gone are the days when leaders hoarded information for power. Today, presidents, CEOs and leaders are also teachers that strive to share their knowledge to create better relationships and improve 
productivity and employee satisfaction.  Read More

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Toll Free Number: (866) 946-2032 
  
Corporate Office
1317 W. Foothill Blvd.
Suite 222 
Upland, CA 91786 
Texas Office
307 S. Jupiter Rd.
Suite 200
Allen, TX 75002

About Southland Data Processing.

Southland Data Processing, a leading payroll service located in the Upland , CA and Dallas Fort Worth area, can provide you an array of state-of-the-art cloud based-systems that are completely scalable for any organization. 

Contact us today!

Copyright © Drip Marketing, Inc. All rights reserved. Any information in this publication is solely meant to provide general information for the reader and is not intended to constitute HR, financial, insurance or legal advice.