HCJ CPAs & Advisors | audit * tax * consulting

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...

You’ve hit your 40s or 50s, and suddenly, retirement doesn’t feel like a distant mirage. It’s real. The countdown is on. But here’s the good news: You’re in a prime position to play catch-up and fortify your future, using smart tax strategies to stretch your...

In the realm of estate planning, naming beneficiaries is a critical step that ensures your assets are distributed according to your wishes after your passing. However, the process doesn't end with simply naming beneficiaries; it's equally important to keep these designations up to date. Life...

As it does every year, the Internal Revenue Service recently announced the inflation- adjusted 2025 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on Jan. 1, 2025, the standard mileage rates for...

Individuals and small businesses should consider various ways of starting off on the right foot for the 2025 tax year. W-4 Updates – If you are employed, then your employer takes the information from your Internal Revenue Service (IRS) Form W-4 and applies it to the...