HCJ CPAs & Advisors | audit * tax * consulting

Few things can rattle a business owner faster than seeing “Internal Revenue Service” on an envelope. The instinct is to panic. But the truth? An IRS notice doesn’t automatically mean you’ve done something wrong.  In 2025, notices are more common than ever. Many are generated automatically...

Section 529 plans are tax-advantaged savings plans designed to encourage saving for future education costs. They are legally known as "qualified tuition plans" and are sponsored by states, state agencies, or educational institutions. With rising education expenses, these plans offer a valuable option for families...

The reinstatement of bonus depreciation is a critical component of recent U.S. tax legislation aimed at fostering economic growth. The 2017 Tax Cuts and Jobs Act (TCJA) had already put significant emphasis on bonus depreciation, but its permanent reinstatement under the "One Big Beautiful Bill...

Let’s get one thing straight: Scammers are not slowing down. They’re getting slicker, faster, and disturbingly good at sounding like someone you trust—especially now that AI can mimic voices, emails, and even your tax pro’s writing style. The IRS sees it too. That’s why, every year, they publish...

So you built something real. A business. A legacy. A family-run thing that’s weathered recessions, pandemics, and probably more sleepless nights than you care to count. Maybe it’s a restaurant. A dental practice. A small farm. Maybe it’s a consulting firm that started at your kitchen...

Let’s say it out loud: Dead inventory is a silent profit killer. You don’t always see it. You don’t always feel it. But if you’re not paying attention, it quietly piles up in the back room… or the warehouse… or the “we’ll move that eventually” shelf. And...

On July 4th, the President signed into law the so-called “One Big Beautiful Bill” Act (OBBBA), a significant piece of legislation that ushers in a plethora of tax provisions designed to impact taxpayers across the spectrum. Though the act introduces measures that stretch beyond this...

If you’ve ever wanted to slice and dice your financial data in QuickBooks® Online without changing your chart of accounts or creating new classes or locations, you’re in luck. The Tags feature in QuickBooks® Online offers an intuitive, flexible way to track transactions across any...

Hiring for the summer? That’s exciting—until the IRS gets involved. While onboarding interns or part-time help sounds simple enough, summer hiring is one of the most common ways small business owners get tripped up on payroll, compliance, and classification. And yes, even a single misstep—like putting a W-2...

UNDERSTANDING REASONABLE CAUSE ABATEMENT Reasonable cause abatement is a provision that allows taxpayers to request the removal of certain penalties based on circumstances that prevented the taxpayer from complying with tax laws. This relief is grounded in the principle that, despite the taxpayer’s best efforts, compliance...