Here are the top five issues experienced by auditors during field work and ways to resolve them to keep the efficiency you’ve already achieved.

For calendar year plans, the deadline is July 31, 2025. If your audit is not complete or you need additional time to file, you can request an extension by submitting Form 5558 to the IRS by July 31, 2025, which extends the filing deadline to October 15, 2025.

We were honored to attend the NACUBO 2025 Annual Meeting, held July 26–29 in Washington, DC (National Harbor, MD).

The new framework is expected to increase tax burdens on wealthy institutions and could have long-term implications for how colleges and universities fund scholarships, research, and student services.

Five practical strategies to address these challenges and ensure compliance.

Current provisions governing Qualified Opportunity Funds (QOFs), including holding periods, gain exclusions, and critical election deadlines.

This article highlights four new tax changes that present planning opportunities for individuals: the Senior Deduction, Car Loan Interest Deduction, Trump Accounts for Children, and Payroll and Fringe Benefit Changes.

The Reconciliation Bill, which was signed into law on July 4, 2025, introduced many tax changes, among them is an increase to the State and Local Tax (SALT) deduction that is claimed on Schedule A of Form 1040.

This guide outlines the key EV credits being phased out, what they offer, and the steps you should take to maximize your benefits before the deadlines.

The depreciation expense changes enacted through the 2025 Reconciliation Bill are intended to incentivize investment, accelerate cost recovery and increase cash flow by providing immediate tax relief for businesses investing in depreciable property. 

The new tax legislation, signed on July 4, 2025, introduces several changes to the deductions for charitable contributions. These changes will take effect after December 31, 2025. With the new standard deduction, it is more important than ever to review your charitable giving with your financial advisor.

HHM CPAs hires several professionals from Audit Supervisor to Office Manager

This article identifies significant changes impacting tax-exempt organizations and items management needs to know to effectively navigate the developing tax policies surrounding charitable contributions, scholarships, and excise tax for excess compensation.

Amendment offers meaningful relief to RV dealerships engaged in the sale of certain trailers and campers.

Keep More in Your Wallet – Shop Tax-Free Weekend July 25th- July 27th

Guidance for Financial Success

The latest tax legislation brings several significant changes that directly affect automobile dealerships. Understanding these provisions will help dealerships maximize benefits, improve customer conversations, and enhance overall profitability.

Our top construction industry-specific takeaways from the Reconciliation Bill.

On March 25, 2025, Donald J. Trump released an executive order in a major move towards modernizing financial operations directing the Federal Government to transition to fully electronic payments. The initiative aims to reduce costs, enhance security, and combat rising mail theft.

Effective for Tax Years Beginning After December 31, 2024 (Unless Otherwise Noted)

In June 2024, a significant cyberattack disrupted operations at numerous auto dealerships. In the aftermath, dealerships—and many others across various industries—have been grappling with intricate insurance issues tied to cyber losses.

To help clients and businesses navigate the sweeping changes introduced by the Reconciliation Bill, we’ve created a dedicated portal that outlines the key tax provisions.

HHM is proud to announce that Bailey Howard has been selected to join the 2025–2026 cohort of Protégé Chattanooga, a prestigious leadership program developed by the Chattanooga Chamber’s Young Professionals of Chattanooga and the Chattanooga Chamber Foundation.

We will continue to provide updates as additional guidance and technical details become available. Please contact your HHM advisor to discuss how these changes may affect your planning for 2025 and beyond.

IRS postpones various tax deadlines to Nov. 3 for Mississippi storm victims