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CHATTANOOGA
1200 Market Street
Chattanooga, TN 37402
(423)-756-7771

CLEVELAND
266 Inman Street E
Cleveland, TN 37311
(423)-708-3980

MEMPHIS
1755 Kirby Parkway, Suite 200
Memphis, TN 38120
(901)-763-2795

2024 White House Budget, Tax Changes

The Biden administration on March 9 unveiled a budget proposal for fiscal 2024 that would reduce the federal deficit by nearly $3 trillion over 10 years, primarily by raising taxes on high-net-worth individuals and large corporations.

March 21, 2023

New & Used Clean Vehicle Tax Credit Requirements

Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit (also referred to as a previously owned clean vehicle credit). Below is information dealers may find beneficial when it comes to this tax credit.

March 16, 2023

Tax Tip: Timing is Everything

Depending on if you’re nearing the threshold to take advantage of the itemized deduction, you may want to pay some expenses earlier than planned to add additional deductions to offset your income.

March 1, 2023

Losses to be aware of this tax season

A key consideration for your 2022 filing efforts should be to acknowledge that every operating loss for your business or capital loss on investments may not lead to a direct deduction on your 1040 the way that you would think.

February 28, 2023

Financial Reporting Considerations

It’s important to consider the implications of inflation and rising interest rates, which can affect financial reporting in many ways.

February 28, 2023

Tax Tip: Trusts and 65-day election due by March 6, 2023

Trusts and 65-day election due by March 6, 2023

February 28, 2023

HHM CPAs to Sponsor ACE Awards at AGC Construction Career Center

HHM CPAs is proud to sponsor the ACE Awards Banquet at AGC Construction Career Center February 16, 2023.

February 6, 2023

HHM CPAs is Proud to Sponsor the Chattanooga Chamber of Commerce Economic Outlook 2023

HHM CPAs is proud to sponsor the 2023 Chattanooga Chamber of Commerce Economic Outlook Breakfast February 21, 2023 at the Walker Theatre.

February 6, 2023

3 Ways to Reduce Your Taxes by Tax Day

This year the 2022 tax filing deadline is April 18th and it is approaching quickly, but there is still time to take action that might reduce your tax liability.

February 6, 2023

ERISA 2023 Requirements Calendar

Contribution plan limits and other notices for 2023.

February 2, 2023

HHM CPAs Opens Doors to Office in Cleveland, Tennessee

HHM CPAs Opens Third Office

February 1, 2023

HHM CPAs Welcomes Two Directors and Ten Others to Growing Team

HHM welcomes two directors, a senior accountant, and 9 staff accountants.

February 1, 2023

HHM CPAs Awarded Cigna Healthy Workforce Designation™

Cigna has selected HHM CPAs as a recipient of its Bronze level Healthy Workforce Designation for demonstrating a strong commitment to improving the health and well-being of its employees through a workplace wellness program.

January 30, 2023

HHM CPAs To Sponsor 2023 Chattanooga Heart Ball

HHM CPAs is proud to sponsor the Chattanooga Heart Ball, a celebration of the lifesaving work of the American Heart Association.

January 27, 2023

2023 Advisory Services

January 27, 2023

HHM CPAs Promotes Two to Partner

HHM CPAs proudly announces the promotion of two partners in its Chattanooga and Cleveland offices. The professionals, Blake Bennett and Weston Porter, join the firm’s leadership team, bringing the total number of partners to 23.

January 23, 2023

Jon Paul Davis to Present at NADA 2023

Jon Paul Davis will present alongside The Rawls Group and Haig Partners at NADA 2023 on Saturday, January 28 9:00 - 10:00 AM.

January 16, 2023

Fourth Quarter Estimated Tax Payments Due January 17th

If you make quarterly estimated payments, you have until January 17th to pay your final estimated tax payment for tax year 2022.

January 13, 2023

The Secure 2.0 Act

The act requires an increased amount of automatic enrollment in employer retirement savings plans, increases catch-up limits, sets the age for RMDs (required minimum distributions) higher, and allows you to make penalty-free withdrawals in case of emergency.

January 13, 2023

Jon Paul Davis named managing partner of the Memphis Office

Jon Paul Davis, MBA, CPA, ABV, CVA, MAFF, CGMA, has been named Managing Partner of the HHM CPAs Memphis location. Davis relocated from the Chattanooga office to the firm’s location at 1755 Kirby Parkway in Memphis.

January 11, 2023

Upcoming Tax Deadlines

2023 Quarter One Tax Deadlines

December 9, 2022

5 Things To Consider As Year-End Approaches

If you are a small business owner, use these five questions when evaluating your books and considering getting outside help.

December 8, 2022

1099 Income Tax Requirements

Many companies are aware of the requirement to issue Forms 1099-NEC to subcontractors but may not be aware of the other types of payments that are reported on Form 1099 series.

December 6, 2022

Retirement Plan Contribution Considerations Before Year-End

Retirement Plan Contribution Considerations Before Year-End

December 5, 2022

HHM CPAs Listed on Forbes’ 2023 Top Recommended Tax and Accounting Firms in the U.S.

HHM CPAs was listed among the 2023 Top Recommended Tax And Accounting Firms in the U.S.

December 5, 2022

HHM CPAs Welcomes New Partner

HHM CPAs has added Mark Lauber, CPA, as Partner in Charge of the Tax Department in their Memphis office.

December 1, 2022

2022-2023 Tax Planning Series: Year-End Tax Planning Considerations

Mathew Thurman, CPA, sits down with Chad Goodman, CPA, and Chelsea O'Shields, CPA to discuss things you can do before year-end to help prepare for tax filing season.

December 1, 2022

Giving Tuesday

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November 23, 2022

WILL CLEGG PLACES IN NATION’S TOP 10 AMBASSADORS IN ANNUAL AMERICAN CANCER SOCIETY’S ‘REAL MEN WEAR PINK’

Clegg placed 1st in Chattanooga and 6th in the nation among 2500+ ambassadors, raising over $100k

November 21, 2022

A Year-End Checklist for Small Businesses

It is important to begin preparing your business records towards the end of the year to ensure a smooth tax filing process.

November 8, 2022

Upcoming Tax Deadlines

There are several important tax deadlines for both businesses and individuals just around the corner.

November 4, 2022

Passthrough Entity Elections

There were numerous changes with the passage of the 2017 Tax Cuts and Jobs Act.

November 4, 2022

What Is a Recession and What Does That Mean for the Markets?

As the seasons change and the days start to get chillier, market trends are calling for doom and gloom in the economy.

November 4, 2022

2022 Year-End Tax Planning for Businesses

U.S. businesses are facing pressure to drive revenue, manage costs and increase shareholder value, all while surrounded by economic and political uncertainties.

November 2, 2022

2022-2023 Tax Planning Guide

Map out a year-end tax plan and prepare for the year ahead using our Tax Planning Guides.

November 2, 2022

Changes in Tax Benefits for Charitable Contributions for 2022

With CARES Act provisions expiring the charitable contributions deduction will be going back to the pre-pandemic guidelines for individuals but will still provide more generous tax breaks for corporations.

November 2, 2022

Inflation Reduction Act of 2022

With the signing of this law, there are critical tax provisions we must be aware of.

August 29, 2022

Consolidating Accounting Offices

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August 18, 2022

The Inflation Reduction Act: Energy Efficient Tax Deductions

The Inflation Reduction Act seeks to invest in clean energy and provides tax incentives that can benefit certain contractors.

August 15, 2022

2022 Summer Construction Newsletter

HHM CPAs strives to keep you up to date on the ever-changing tax laws and regulations while staying in the best position to foster growth and continued success.

August 15, 2022

HHM CPAs Named a 2022 Top 100 Largest Accounting Firm

HHM Certified Public Accountants was named a 2022 Top 100 Largest Accounting Firm by Inside Public Accounting (IPA), ranking at 94 in the nation.

August 10, 2022

What is a CPA and How Can a CPA Help You?

Matthew sits down with Jessica Seard to explain what a CPA is and a CPA's value to you.

August 10, 2022

Working Remotely: Don't neglect internal controls

Internal controls are defined as a system or plan of accounting and financial organization within a business comprising all the methods and measures necessary for safeguarding its assets, checking the accuracy of its accounting data, or otherwise substantiating its financial statements, and policing previously adopted rules, procedures, and policies as to compliance and effectiveness.

August 10, 2022

Tennessee Sales Tax Holidays

Two years in a row, the Tennessee General Assembly has approved multiple sales tax holidays for retail shoppers.

July 28, 2022

The Taxation of Cryptocurrency

Because of cryptocurrency, the words fork and airdrop have new definitions. The IRS has issued minimal guidance to date on the tax consequences of many types of cryptocurrency transactions. Before discussing further, it is important to understand some of the new terms related to cryptocurrency.

June 30, 2022

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June 24, 2022

Tennessee Sales Tax Holidays

Upcoming multiple sales tax holidays

June 21, 2022

Optimize Cash Posting with Assessment and Automation

The healthcare provider revenue cycle consists of several key components, but one that often warrants a critical assessment is cash posting.

June 21, 2022

HHM CPAs to Sponsor 36th Annual Big Brothers Big Sisters Golf Classic

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June 16, 2022

Adam Osborne Elected as President of United Way's Young Professionals Circle

YPC offers members an opportunity to volunteer, network, learn and grow in their careers and service ventures.

June 15, 2022

HHM Wealth Advisors Promotes Andrew Cook to Partner

HHM Wealth Advisors, LLC, a wealth and investment management firm in Chattanooga TN, has promoted Wealth Advisor Andrew Cook to partner.

June 15, 2022

Second Quarter Estimated Tax Payments Due June 15

You have until June 15 to pay your estimated tax payment for the second quarter of tax year 2022 without penalty.

June 10, 2022

Auto Dealers’ Economic Outlook

Read our 2022 edition of the Economic Outlook.

June 7, 2022

2022 Spring Real Estate Insider

Find out what's in our spring Real Estate Insider newsletter.

June 6, 2022

2022 Winter Employee Benefits Plans Newsletter copy

Find out what's in our winter employee benefit plans newsletter.

June 6, 2022

Are All Short-Term Rentals (Airbnb) Deemed to Constitute Self-Employment Income?

Are all short-term rentals, such as Airbnb, deemed to constitute self-employment income?

June 6, 2022

Can Owners of Real Estate Create Passive Income From Themselves to Help Offset Limited Passive Losses Elsewhere?

Can owners of real estate create passive income from themselves to help offset limited passive losses elsewhere?

June 6, 2022

Evaluating Internal Control Deficiencies Guide

The responsibilities and key issues management must consider when evaluating and identifying control deficiencies within their businesses.

June 1, 2022

Georgia State Tax Refunds Being Issued

Certain Georgia residents will be receiving a refund in the next few months.

June 1, 2022

What to do with your tax records

The 2022 tax deadline has passed.

May 3, 2022

Upcoming EBP Audit Changes

Financial Statements of Employee Benefit Plans Subject to ERISA

May 3, 2022

Businesses can still deduct 100% of restaurant meals

Your business can deduct 100% of the cost of business-related meals provided by a restaurant.

May 3, 2022

IRS Urges Taxpayers to Use IRS’ Tax Withholding Estimator Tool

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May 3, 2022

Upcoming due dates and steps to take once your filing is complete

Here are a few things to keep in mind after your tax filing is complete.

April 6, 2022

Will Congress consider a smaller, more targeted tax provision package?

With BBB off the table, one possible path for Congress is the consideration of smaller, more targeted pieces of legislation.

April 5, 2022

White House unveils 2023 budget proposal

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April 5, 2022

NFT Tax Overview: Considerations for creators and investors

Non-fungible Tokens (NFTs) have exploded in popularity over the last several years, and as investors begin to consider their 2021 tax filings.

April 5, 2022

HHM CPAs to Sponsor Ronald McDonald House’s Wine Women and Shoes Event

We are proud to sponsor Wine Women & Shoes fundraising event benefiting Ronald McDonald House Charities of Greater Chattanooga Tennessee.

March 21, 2022

HHM CPAs to Sponsor CWLI's Chattanooga Women’s Symposium

HHM is proud to sponsor the 2022 Chattanooga Women's Leadership Institute's Chattanooga Women’s Symposium

March 21, 2022

IRS takes steps to alleviate delays, shorten backlog

IRS works to clear backlog and expedite processing

March 14, 2022

HHM CPAs Welcomes Senior Manager and Additional New Hires

HHM Certified Public Accountants has hired a senior manager, senior accountant, analyst, and a financial operations assistant to accommodate recent growth in its Chattanooga office.

March 10, 2022

Six Technology Industry Predictions for 2022

The technology industry, along with the rest of the world, is struggling with global supply chain disruption, material scarcity, rising transportation costs, unpredictable shutdowns, and an industry-wide labor shortage.

March 1, 2022

Considering a Profits Interest for Key Employees

Key employee retention and motivation is important and using the incentive of ownership can be a very effective retention tool.

March 1, 2022

Tax Savings Tips in the Final Hour

April 15th is approaching quickly, but there is still time to take action and reduce tax liabilities before the deadline.

March 1, 2022

2022 Winter Employee Benefits Plans Newsletter

Find out what's in our winter employee benefit plans newsletter.

February 21, 2022

The importance of using qualified employee benefit plan auditors

Plan administrators have fiduciary responsibilities to hire independent qualified public accountants to perform quality audits.

February 21, 2022

Why buyers need to pay attention to employee benefits

Employee benefits can be critical to the success of an M&A deal’s integration phase.

February 21, 2022

New Tax Rule for Venmo and Payment App Users

Updated IRS Reporting Requirements for Payment App Users

February 2, 2022

Lease Accounting Guide: An Overview of ASC 842

ASC 842, Leases, is the new lease accounting standard issued by the Financial Accounting Standards Board (FASB).

January 27, 2022

HHM CPAs welcomes senior managers, supervisor, and staff accountants

Eight Hires to Start Off New Year

January 19, 2022

HHM CPAs welcomes senior manager, staff accountants and admin professionals

Welcoming Seven New Employees

January 19, 2022

Lease Accounting Guide: An Overview of ASC 842

ASC 842, Leases, is the new lease accounting standard issued by the Financial Accounting Standards Board (FASB).

January 17, 2022

IRS Warns Taxpayers to Expect Delays in Filings and Refunds

The IRS announced that tax season will begin more than two weeks ahead of schedule.

January 11, 2022

What to do when you receive an IRS notice

Different notices the IRS could potentially send you, their implications, and what to do if you receive one of these notices.

January 6, 2022

2022 Winter Construction Insider

Find out what's in our winter construction insider.

January 6, 2022

Annual Disclosure Requirements for Business Entities Receiving Government Assistance

The FASB issued ASU 2021-10[1] (“ASU”).

January 6, 2022

Taxes on Social Security Benefits

Did you know that you could have to pay taxes on social security benefits?

January 6, 2022

7 Tips for Avoiding Construction Disputes

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January 5, 2022

Build Back Better Act Stalled

The Build Back Better Act (BBB), which contains several key items of President Biden's legislative agenda, has effectively been shelved indefinitely.

December 29, 2021

2022 Deadlines and Important Dates for Plan Sponsors

Sponsors of defined benefit and defined contribution plans should keep the following deadlines and other important dates in mind as they work toward ensuring compliance for their plans in 2022.

December 28, 2021

Estate Planning Considerations

The most commonly asked questions about estate planning and its effects on taxes.

December 22, 2021

Individual Tax Planning Strategies

Watch our tax planning video.

December 15, 2021

Employee Retention Credit Update

The IRS recently released guidance on the termination of the Employee Retention Credit.

December 8, 2021

Required Minimum Distributions Considerations

It’s critical to properly calculate your Required Minimum Distribution (RMD) amount each year to avoid major tax consequences.

December 8, 2021

Biden’s Infrastructure Bill: Key Tax Changes

On November 15, 2021, President Biden officially signed the Infrastructure Investment and Jobs Act of 2021("IIJA").

December 6, 2021

Important 2022 First Quarter Tax Deadlines

Keeping up with the abundance of tax deadlines during the year can be a challenging and stressful undertaking, so we have compiled this list to help guide you through some of the key upcoming first quarter deadlines.

December 1, 2021

Best Practices for Monitoring Retirement Plan Service Providers

The plan sponsor should have a well-documented process breaking down the responsibilities of individuals implementing the plan and a “tone at the top” mind set to make sure these processes are in place, exercised, and regularly reviewed for improvement.

November 29, 2021

Safe harbor retirement plan considerations

If you participate in a traditional plan, it might be beneficial to consider adding or amending to a safe harbor plan.

November 29, 2021

LIFO Considerations and Tax Planning for Dealerships

Dealerships who have elected and are maintaining LIFO reserves should be planning and assessing the impact now of reduced inventory levels.

November 23, 2021

2021- 2022 Tax Planning Guides

Map out a year-end tax plan and prepare for the year ahead using our Tax Planning Guides.

November 22, 2021
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