Including both href and onclick to HTML tag

You already have what you need, with a minor syntax change:

<a href="www.mysite.com" onclick="return theFunction();">Item</a>

<script type="text/javascript">
    function theFunction () {
        // return true or false, depending on whether you want to allow the `href` property to follow through or not
    }
</script>

The default behavior of the <a> tag’s onclick and href properties is to execute the onclick, then follow the href as long as the onclick doesn’t return false, canceling the event (or the event hasn’t been prevented)