Harik Thompson CPAs

An accredited investor is someone who meets specific financial criteria, allowing them to invest in certain high-risk or private investment opportunities not available to the general public. This status is typically based on income, net worth, or professional experience. Understanding the requirements for accredited investor status can open doors to exclusive investment options and potential financial growth. https://buff.ly/3Bamh9t #Investor #Investment #AccreditedInvestor

Understanding overtime rules is essential for compliance and fair employee compensation. The latest guidelines outline who qualifies for overtime pay and the rates at which it should be calculated. Key points include the thresholds for exempt and non-exempt employees and the requirements for proper record-keeping. Staying informed about these rules helps ensure that your business meets legal standards and supports fair labor practices. https://buff.ly/4gPiwab #Business #Compensation #Employees

Navigating taxes as a parent can be complex, but there are key strategies to maximize your benefits. From claiming child-related credits and deductions to understanding eligibility for education-related tax breaks, these tips can help you optimize your tax return. Staying informed about these opportunities ensures you take full advantage of available tax relief and supports effective financial planning for your family. https://buff.ly/47jO6sb #TaxTips #Parents #FinancialPlanning

Harik Thompson CPAs & Advisors is excited to announce the opening of our new office in Santa Monica, CA! Located at 2450 Colorado Ave, Santa Monica, CA, this new location increases our accessibility and enhances our ability to serve our valued clients in the Los Angeles area. Our team of CPAs and advisors is ready to meet in-person at our Torrance or Santa Monica offices, or virtually, to assist with your accounting, tax, and financial needs. Learn more about how this expansion supports our firm's growing client base: https://buff.ly/4dgJO5Z #SantaMonica #ClientGrowth ##HarikThompson

The Disabled Access Credit provides financial support for businesses making their facilities more accessible to individuals with disabilities. This credit helps cover the costs of modifications such as installing ramps, widening doorways, and other accessibility improvements. By taking advantage of this credit, businesses can enhance inclusivity while benefiting from tax relief. Knowing how to utilize this credit effectively can support both your business goals and social responsibility efforts. https://buff.ly/3XCKXQM #Disability #TaxCredit #Taxes

While Advantage plans offer many benefits, they also come with some drawbacks. These can include limited provider networks, higher out-of-pocket costs for certain services, and complex plan structures that might be challenging to navigate. Understanding these potential disadvantages can help you make more informed decisions about your healthcare coverage and ensure that the plan you choose aligns with your needs and preferences. https://buff.ly/3MDFWkX #AdvantagePlans #Benefits #Healthcare

Managing time sheets efficiently is crucial for accurate payroll and project tracking. Key strategies include implementing a clear process for recording hours, regularly reviewing and approving time sheets, and using digital tools to streamline data collection. Proper time sheet management not only ensures compliance but also helps in identifying productivity trends and optimizing workforce allocation. Improving your approach to time sheets can enhance overall efficiency and accuracy in your organization. https://buff.ly/4d0oDoD #TimeSheets #Payroll #Tracking

The Tax-Advantaged Qualified Small Business Stock (QSBS) offers valuable benefits for investors. By holding QSBS for at least five years, you may be eligible for significant tax exclusions on capital gains. This provision can be a powerful tool for entrepreneurs and investors looking to maximize their financial outcomes while supporting small businesses. Understanding and leveraging QSBS can enhance your investment strategy and potentially reduce your tax liability. https://buff.ly/4ejm6as #Investing #QSBS #Taxes

The SECURE Act 2.0 introduces important updates to retirement planning. Notably, it raises the age for Required Minimum Distributions, giving you more time to let your savings grow. It also enhances opportunities for higher contributions to retirement accounts and expands options for employer matching and support. These changes aim to strengthen your retirement savings and provide greater flexibility in your financial planning. https://buff.ly/3ToY9WV #SECUREAct #Retirement #RetirementPlanning

As we honor the contributions of hardworking professionals, we wish everyone a restful and well-deserved Labor Day!