Ask a DHJJ CPA

When do you actually need a 401(k) audit and is it really as simple as hitting 100 employees? In this episode of Ask a DHJJ CPA, Colin Shaw breaks down what triggers a 401(k) audit, including how participant counts work, why former employees still matter, and how the 80/120 rule can impact your timing. He also walks through what happens during an audit, how to prepare, and what business owners often get wrong. Whether you’re approaching the threshold or already there, this episode will help you stay ahead and turn a compliance requirement into a strategic advantage. What This Episode Answers Do I need a 401(k) audit yet? What counts as a participant in a 401(k) plan? Do former employees count toward the 100-participant rule? What is the 80/120 rule for 401(k) audits? Can I delay a 401(k) audit? What happens during a 401(k) audit? How do I prepare for a 401(k) audit? How do I choose the right audit firm?

What’s the difference between a CPA and a CFP® and when does it make sense to work with someone who is both? In this episode of Ask a DHJJ CPA, host Emma sits down with Dana Anderson, CPA, CFP®, to talk about how tax planning and financial planning work together, why that matters in real life, and how having one advisor looking at both can help people make more confident financial decisions. They cover the difference between a CPA and a certified financial planner, common financial mistakes people make on their own, why a big tax refund is not always a good thing, and why complexity often matters more than wealth when deciding whether to work with a financial advisor. Whether you are planning for retirement, navigating a major life change, managing a strong income year, or simply trying to make smarter financial decisions, this conversation offers practical insight into how a more integrated approach can help. In this episode, we discuss: 00:00 Introduction 01:45 What a CPA does vs. what a CFP® does 04:45 Why people choose to work with a financial advisor 07:15 The emotional side of managing money 11:05 Why tax planning and financial planning should work together 15:00 What to think about after a really good income year 18:15 Financial mistakes that show up at tax time 21:50 Who benefits most from working with someone who is both a CPA and CFP® 26:00 Why DHJJ’s approach is different 28:40 Rapid-fire financial advice Key questions this episode answers: - What is the difference between a CPA and a CFP®? - Why should tax planning and financial planning be coordinated? - Is working with a financial advisor only for wealthy people? - What financial mistakes do people commonly make on their own? - What should someone do after a big income year? - What should you ask before hiring a financial advisor? About Dana Anderson: Dana Anderson, CPA, CFP®, is part of DHJJ’s financial advisory team. He works with clients on retirement planning, investments, estate planning, and tax-aware financial strategies, helping people make decisions with both their financial goals and tax implications in mind. Learn more about DHJJ: DHJJ.com Explore DHJJ Financial Advisory: DHJJFinancial.com Read the full transcript and related resources: Connect with DHJJ: https://dhjj.com/schedule-a-consultation/ About Ask a DHJJ CPA: Ask a DHJJ CPA is the podcast where real CPAs answer real questions from business owners and individuals. Each episode breaks down important tax, accounting, financial, and advisory topics into practical conversations designed to help listeners make better decisions. If you found this episode helpful, subscribe so you do not miss future conversations. #CPA #CFP #FinancialPlanning #TaxPlanning #RetirementPlanning #WealthPlanning #BusinessOwners #DHJJ #Podcast

In this episode of Ask a DHJJ CPA, I’m joined by tax manager Dominic Martin to discuss vital updates for individual taxpayers this tax season. We dive into the complexities of filing a 1040, including common surprises that can arise from investment income and changes in tax legislation, specifically the One Big Beautiful Bill Act. Dominic shares insights on how this new law impacts income thresholds, deductions, and credits, as well as significant considerations for high earners and business owners with pass-through income. Whether you’re filing W-2 income, managing multiple income streams, or navigating new retirement account options, this episode equips you with essential strategies to optimize your tax planning. Tune in to ensure you're prepared for a successful tax season.

As your business grows beyond one state, sales tax and state and local tax (SALT) rules get more complicated fast. In this episode of Ask a DHJJ CPA, we break down one of the most common (and costly) questions growing companies face: When do you officially create sales tax nexus? We cover: – What “nexus” really means in plain English – How physical presence (employees, warehouses, offices) triggers tax obligations – How economic nexus works when you sell into other states – Common scenarios that surprise business owners – What to do once nexus is established Whether you’re expanding your sales footprint, hiring remote employees, or shipping products across state lines, understanding nexus is critical to staying compliant and avoiding penalties. If you’re unsure where your business stands today, this episode will help you know what questions to ask and when to get help.

Tax season doesn’t have to be chaotic, but for many business owners, it feels that way. In this episode of Ask a DHJJ CPA, host Emma Yurchik sits down with Mirella Hernandez, Principal at DHJJ and leader of the firm’s Tax Practice, to break down what business owners can learn from the 2025 tax season and what they should be doing right now to make this year smoother and start planning ahead for 2026. Rather than focusing on filing forms, this conversation takes a step back to look at the real causes of tax season stress, from last-minute cleanups and communication gaps to business acquisitions, growing complexity, and missed planning opportunities. Mirella shares practical guidance on what to prioritize in January, how to spot early warning signs that a business is heading into tax season unprepared, and why ongoing communication with your CPA is one of the most important factors in avoiding surprises. They also discuss when it makes sense to clean up records, amend returns, or bring in outside accounting support, especially for lean teams and growing businesses. In this episode, you’ll learn: The most common issues that delay returns and create unnecessary stress What documents and conversations to prioritize right now How transactions, acquisitions, and growth impact tax timelines and risk Why proactive, year-round tax planning leads to better long-term outcomes Whether you’re a business owner wearing multiple hats, managing a growing company, or preparing for a future transaction, this episode will help you approach tax season with clarity, confidence, and a plan.

Welcome to Episode 0! In this quick teaser, host Emma Yurchik shares what Ask a DHJJ CPA is all about and why we created it. DHJJ is a full-service CPA and business advisory firm, and each month, we’ll break down real financial and accounting questions businesses are navigating every day. Consider this your preview of what’s ahead, and why you’ll want to subscribe.

Choosing the right CPA firm is one of the most important financial decisions a business owner can make, and yet most people don’t know what to look for. In this episode of Ask a DHJJ CPA, host Emma Yurchik sits down with Ed Brooks, CPA and Chief Growth Officer at DHJJ, who brings nearly four decades of experience helping clients grow, adapt, and make confident decisions at every stage of business. Together, Emma and Ed break down the key factors that matter most when evaluating a CPA firm, whether you’re selecting one for the first time or reconsidering your current relationship. Ed shares practical, real-world insight on: Why choosing the right CPA matters What to look for beyond tax prep How industry experience impacts quality Red flags that signal a CPA firm may not be the right fit Questions to ask in your first meeting How the right CPA relationship supports long-term growth, hiring decisions, and big financial milestones The most common mistake people make when choosing a CPA firm and how to avoid it Whether you're launching a business, scaling quickly, or preparing for a major transition, this episode gives you a clear framework for evaluating your options and choosing a CPA firm that aligns with your needs, goals, and growth trajectory.