HCJ CPAs & Advisors | audit * tax * consulting

Many employers offer health flexible spending accounts (FSAs) and health savings accounts (HSAs) as part of their employee benefits packages. Both plans allow you to set aside money to pay medical expenses with pre-tax dollars, providing a significant tax benefit. But which is the better option?  Although...

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When we’re young and vibrant, we think that we’ll never grow old.  We enjoy each day never thinking there might come a day when we’ll need help to get by.  When we think of elder care, we might picture a nonagenarian in a wheelchair living...

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The Internal Revenue Service (IRS) has announced a moratorium on new claims related to the pandemic-era Employee Retention Credit (ERC, also known as Employee Retention Tax Credit).  The pause on new claims goes into effect immediately and will last until at least 2024.   When claimed properly,...

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On Wednesday, June 14, the Federal Reserve announced a pause in interest rate hikes for the first time since March 2022. The decision comes after promising economic indicators show that relief from historic inflation may be coming.   Inflation Falls from Peak  In a good sign for consumers,...

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If you are a grandparent there are several things, you can do to teach your grandchildren financial responsibility and set aside money for their future education and retirement. Before we get into actual suggestions, it is important that you understand the gift tax rules. You...

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This credit goes all the way back to 2006, providing a tax credit for making energy-saving improvements to a taxpayer’s home. This tax benefit was supposed to expire after 2021 but a law change has given the credit renewed life and substantially enhanced it beginning...

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If you had to make a list of people who changed the world essentially just by existing, Henry Ford's name would likely be on it.  Most people know him from history as the founder of the (appropriately named) Ford Motor Company. Here, he developed the assembly...

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