HCJ CPAs & Advisors | audit * tax * consulting

Beginning in 2026, changes under the SECURE 2.0 Act and final IRS regulations (T.D. 10033) introduce a significant update to how certain retirement plan catch-up contributions must be handled. For some employees, catch-up contributions will no longer be allowed on a pre-tax basis and must...

Running a pharmacy means navigating more than prescriptions and reimbursements—it means managing labor, payroll, expenses, and regulatory compliance across geographies. When you employ staff across state lines (or plan to), multi-state payroll compliance becomes a critical focus. Oversight in this area can lead to unexpected...

Running a pharmacy is more than dispensing prescriptions—it’s managing complex inventory, shifting reimbursement models, and evolving regulatory demands. With tight margins and operational pressures, even small accounting missteps can cascade into major financial problems. In this article, we’ll walk through the most common accounting mistakes pharmacy...

There's nothing quite like opening the mailbox, seeing an envelope with "Internal Revenue Service" printed on it, and feeling your stomach drop. Even people who are perfectly organized — even people who've done everything right — feel the same jolt of panic when they receive...

An LLC (Limited Liability Company) is a flexible business structure that creates a legal distinction between its owners and the business itself. This separation shields the owners' personal assets from business liabilities and debts, a crucial safeguard not offered by simpler structures like sole proprietorships....

Most people think their financial professional focuses on the past: last year’s tax numbers, last quarter’s profit, last month’s expenses. That’s the compliance world. It’s essential, of course. But it’s focused on what has already happened. Advisory is something different. Advisory is about shaping what comes next. It’s...

Every few decades, there’s a shift so big that economists, journalists, and business thinkers can’t stop writing about it. Right now, that shift is happening in real time — and it’s being driven by one generation. Baby Boomers are retiring at record speed. By 2030, every Boomer will be...

Closing out the year smoothly begins before December arrives. For business owners using QuickBooks® Online (QBO), now’s the time to move beyond last-minute scrambles and step into structured, tax-ready bookkeeping and planning. With new features and increased IRS scrutiny, lining things up ahead of year-end...

This is our annual reminder that if you use workers other than employees to perform services for your business and pay them $600 or more for 2025, you are required to issue each one a Form 1099-NEC after the end of the year to avoid facing penalties...

As the year draws to a close, taxpayers with substantial stock holdings have a unique opportunity to engage in strategic planning to optimize their tax positions. This article explores various strategies, including understanding the annual loss limit, navigating wash sale rules, recognizing gains and losses,...