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. 

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 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.

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.