HCJ CPAs & Advisors | audit * tax * consulting

The Internal Revenue Service (IRS) has released its annual "Dirty Dozen" list of tax scams for 2025, cautioning taxpayers, businesses, and tax professionals to remain vigilant against prevalent schemes that endanger their tax and financial data. These fraudulent tactics, which range from phishing email schemes...

Cybersecurity is no longer just an IT issue—it's a business imperative. North American SMBs are grappling with a surge of cyberattacks, and the stakes have never been higher. According to a recent press release from Okta, many small and medium businesses are facing significant challenges...

Business owners across the United States can breathe a sigh of relief with the latest announcement from the Financial Crimes Enforcement Network (FinCEN) about BOI reporting. On March 21, 2025, FinCEN revealed an interim final rule that lifts the burden of Beneficial Ownership Information (BOI)...

When tax season rolls around, small and medium businesses often feel like they’re juggling flaming torches—one wrong move and everything could come crashing down. Balancing operating expenses with looming tax obligations isn’t just a challenge; it’s an opportunity to optimize your cash flow strategy and...

As an independent accountant or tax professional, budgeting and forecasting aren’t just tasks you do for your clients’ small businesses—they’re critical tools for growing your own practice. With the QuickBooks Online Budgeting feature, you can set financial targets, track expenses, and ensure your business stays...

Remember when Bench closed its doors on December 27—practically overnight—and everyone collectively gasped at their screens? If you’re a small or medium-sized business owner who used the platform, you probably felt that wave of panic: Wait, who’s got my books? How do I trust these...

The landscape of digital transactions has undergone a significant transformation over the past few decades, prompting the Internal Revenue Service (IRS) to introduce and adapt tax reporting mechanisms to keep pace with the evolving nature of online payments and e-commerce. One such adaptation is the...

Section 1031 of the Internal Revenue Code, commonly known as a 1031 exchange or like-kind exchange, is a powerful tax-deferral strategy used by real estate investors. This provision allows investors to defer capital gains taxes on the sale of a property by reinvesting the proceeds...

You, like most taxpayers, probably dread the task of pulling together your records to prepare for your tax preparation appointment, but the effort usually pays off in the extra tax you might save! When you arrive at your appointment fully prepared, you’ll have more time...

Individual Retirement Accounts (IRAs) are essential tools for retirement planning, offering tax advantages that can help you grow your savings over time. Two of the most popular types of IRAs are the Traditional IRA and the Roth IRA. While both serve the purpose of retirement...