CHATTANOOGA1200 Market StreetChattanooga, TN 37402(423)-756-7771CLEVELAND266 Inman Street ECleveland, TN 37311(423)-708-3980MEMPHIS1755 Kirby Parkway, Suite 200Memphis, TN 38120(901)-763-2795PENSACOLA3250 W Navy BoulevardPensacola, FL 32505(850)-434-5574
Effective April 9, 2024, the State of Tennessee has updated the financial statement requirements for certain contractors’ license renewals.
In February, 2016, the Financial Accounting Standards Boards (FASB) issued an Accounting Standards Update (ASU) 2016-02 to significantly change how operating leases were to be recorded to comply with accounting principles generally accepted in the United State of America (US GAAP).
Affected businesses may claim refunds with respect to franchise returns filed on or after January 1, 2021, for fiscal tax years ending March 31, 2020, or later.
What does this mean for current users of these desktop products?
New Partner Named at HHM Bookkeeping, an affiliate of HHM CPAs
HHM CPAs welcomes new tax director
Regulatory requirements and filing deadlines set forth by the Employee Retirement Income Security Act (ERISA).
You've filed your return, what do you do next?
April is Financial Literacy Month.
Preparing for an audit can feel burdensome, regardless of previous experience. There are various types of audits, each having different purposes and standards, making it difficult to navigate the process.
HHM's 2024 edition of the Auto Dealers' Economic Outlook focuses on key points and topics that auto dealers must be aware of going forward into 2024
Two significant regulatory changes to retirement plans require immediate attention from plan sponsors, both to ensure current operational compliance and to comply with upcoming deadlines.
In celebration of Women’s History Month and the incredible women in leadership roles at HHM CPAs, we are proud to highlight Paula Mashburn, a partner at HHM CPAs in the Pensacola office.
In celebration of Women’s History Month and the incredible women in leadership roles at HHM CPAs, we are proud to highlight Kira Wheat, a partner at HHM CPAs in the Chattanooga office.
Growing CPA firm recognized nationally in Accounting Today’s annual ranking
In celebration of Women’s History Month and the incredible women in leadership roles at HHM CPAs, we are proud to highlight Erica Smith.
HHM CPAs was proud to sponsor this years’ CHI Memorial Pink! Gala this past January. HHM partner, Brittany Carman, along with her husband, Tyler, were this year’s co-chairs of the event, alongside Beaumont and Jabo Covert.
HHM CPAs was honored to be the presenting sponsor of the Cirque du CMOM 2024, a fundraising event benefiting Children's Museum of Memphis (CMOM).
Tax filing extensions for those affected by the December 9, 2023, tornadoes and storms in parts of Tennessee.
HHM CPAs Establishes Fourth Office; Welcomes Firm in Pensacola
In an era marked by significant challenges, including declining headcounts and the sunsetting of COVID-related funding, the impending Great Wealth Transfer emerges not just as an opportunity but as a critical lifeline for institutions seeking to stabilize and grow their financial foundations.
This year the 2023 tax filing deadline is April 15th, 2024, which is fast approaching.
Dave Wildman Named TSCPA Lifetime Member; Tyler Harvell and Paul Brundige Honored for Dedication to TSCPA as Past Presidents
HHM Certified Public Accountants, a full-service CPA and consulting firm with locations in Chattanooga, Memphis, and Cleveland, has added Steven Ramsey, EA, and Susan Jeffery, CPA, CGMA, to the Chattanooga office, and Mark Grochau, CPA, to the Memphis office.
We have compiled some of the most commonly asked questions we receive from clients and have provided some answers and guidance.
Five practical strategies to address these challenges and ensure compliance.
A bill was introduced in Congress this week entitled The Tax Relief for American Families and Workers Act of 2024.
Applications like Venmo and its competitors have made day-to-day transactions among family and friends easier and has made it easier for tech savvy folks to be “cash free.” Additionally, it has allowed several businesses to run below the IRS’s radar, ushering in a new era of tax evasion since income is moved from customer to owner without ever touching the ledgers.
HHM CPAs adds new partner.
Dealers be aware of this important update.
Growing CPA firm welcomes new hires to its offices.
Step-by-step instructions and helpful tips to navigate the intricacies of clean vehicle reporting.
Most companies will be required to file information returns electronically
Updated as of December 1, 2023.
HHM CPAs was named a 2023 Top Workplace in the Memphis area by The Commercial Appeal as announced in the special print section of the magazine and at the award ceremony at The Cadre Building in Downtown Memphis on December 14, 2023.
HHM’s Cleveland Office Hires Cassie Bell
Clean Vehicle Sellers and Dealers Should Register with Energy Credits Online Immediately
Q1 and Q4 deadlines
A conservation easement is a charitable contribution of land in which the owner gives up only certain rights such as the development rights for their acreage.
Estate planning considerations for year-end tax planning.
HHM CPAs is proud to be the presenting sponsor for CHI Memorial Foundation's annual Pink! gala on Saturday, January 27, 2024.
Our year-end tax planning guide containing year-round strategies to make the tax laws work for you and your business.
The group of HHM runners completed a total of 119.8 miles to support St. Jude's life-saving mission on December 2, 2023.
Take advantage of Giving Tuesday 2023.
Thanksgiving meals to 172 families in Chattanooga
Map out a year-end tax plan and prepare for the year ahead using our Tax Planning Guides.
As published in IRS News Release IR-2023-203, Nov. 1, 2023.
Four questions to ask.
The IRS announced its decision to amend electronic filing regulations relating to informational returns.
Now is the time to call your trusted advisor and prepare yourself for the upcoming year and the ones to follow.
2022 ended with a decline in single family starts for the first time since 2011. This according to the National Association of Home Builders (NAHB) summary published in January of 2023.
Two of the most common, and often costly, forms of cyberattacks that are affecting businesses and individuals today – whaling and spear phishing.
The Tennessee business tax is also known as the annual county and city license renewal or gross receipts tax. It is a privilege tax that applies to gross sales of all tangible personal property and services that are not specifically exempt from business tax. It’s important to note that even if a sale is exempt from sales tax, it may still be subject to business tax. This tax has been in existence since the 1970s, with the current structure in place since 2014.
The Internal Revenue Service (IRS) recently updated the process for filing Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business.
Adam Osborne, HHM CPAs Cleveland office managing partner, has been selected as an ambassador for the American Cancer Society‘s 2023 Real Men Wear Pink of Chattanooga campaign.
Growing CPA firm welcomes eight new hires to its offices.
HHM CPAs, a Chattanooga-based full-service certified public accounting and consulting firm, has completed its renovation of Cleveland’s historic Harle Building and opened its doors for business once again to the Bradley County community.
HHM was proud to sponsor and participate in this year’s Women United Gala, hosted by the United Way of the Ocoee Region. Journeying back in time to the Wild West and the era of speakeasies, all while raising money for the community was the perfect way to spend an afternoon.
HHM CPAs accounting intern, James Huang, authored an article for Accounting Today on the industry hiring crisis.
Short-term rental properties, such as Airbnbs and VRBOs, have become an increasingly popular way for property investors and homeowners to utilize their properties.
HHM Certified Public Accountants, a full-service CPA and consulting firm with locations in Chattanooga, Cleveland, and Memphis, Tennessee, has hired John Eger as a manager in its dealership services group as well as professional and support staff in its Chattanooga office.
HHM Certified Public Accountants, a full-service CPA and consulting firm with locations in Chattanooga, Cleveland, and Memphis, Tennessee, welcomes Karen Clement as a tax director in its Chattanooga office along with two senior accountants, a supervisor, a staff accountant, and a processing supervisor to accommodate recent growth.
HHM CPAs, a full-service CPA and consulting firm with locations in Chattanooga, Cleveland, and Memphis, Tennessee, is honored to be listed as a 2023 INSIDE Public Accounting (IPA) Best of the Best Firm.
HHM is proud to sponsor the 2023 Chattanooga Zoo’s Banana Ball on September 23, 2023.
HHM is proud to sponsor the 2023 Signal Centers’ Friends of Special Children ABC Event.
HHM is proud to sponsor the 2023 Northside Neighborhood Not So Silent Auction at the Chattanooga Convention Center on October 19, 2023. This event is hosted by the Northside Neighborhood House, a local organization dedicated to ensuring that individuals and families across Northern Hamilton County have access to working and safe utilities, access to the best education in the area and making sure they have food on their plate.
HHM is proud to sponsor the 2023 AGC East Tennessee Golf Tournament on September 26, 2023, at the Council Fire Golf Course. A game the city loves for a cause that couldn’t be better, the AGC Golf Tournament is an annual 4-man scramble golf tournament in which the proceeds go towards helping our local students learn and pursue careers in different areas of the construction trades.
HHM is proud to sponsor the 2023 Annual Women of Distinction Luncheon on October 18, 2023, hosted at the Chattanooga Convention Center. For 40 years the Women of Distinction of Greater Chattanooga has brought together the community to honor women who have made an impact on the community and the city of Chattanooga.
HHM is proud to sponsor the 2023 Paddle for PanCAN 5k Fundraiser departing from the Suck Creek Boat Launch on September 16, 2023. A 3.1-mile kayak and paddle-board race along the beautiful and scenic Tennessee River, the Paddle for PanCAN 5k sends all proceeds to the Pancreatic Cancer Action Network.
HHM CPAs was proud to sponsor this years' Aloha Bowl-A-Thon hosted by the Junior Achievement of Greater Chattanooga. There was no better way to spend the night with good food, hula hoop competitions, face painting and so much more, we can’t wait for next year’s.
The IRS has unveiled its paperless processing initiative, which will allow taxpayers the option to received paperless correspondence by the 2024 filing season, with the goal to go fully paperless for all tax returns for the 2025 season.
Upcoming tax deadlines to note.
Beginning on Jan. 1, 2024, many corporations, limited liability companies and other entities created or registered to do business in the United States must report information about their beneficial owners—the persons who ultimately own or control the company—to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).
Welcome Ted Bruno.
HHM CPAs named an IPA 100 firm for 2023.
HHM CPAs volunteers joined over 300 others in the United Way of the Ocoee Region's Day of Action
Erica Smith is promoted to partner at the CPA firm’s Memphis office
While being just over halfway through 2023, you still have the opportunity to tap into the employee retention credit (ERC) that came about as part of the various COVID relief programs. However, it is important to understand the guidance issued by the IRS surrounding the program.
The new lower threshold for required electronic filing of information returns applies to tax year 2023 Forms W-2, Wage and Tax Statement.
Plan sponsors can harness the immense power and utility of generative AI to provide better support to plan participants, but they must do so only after putting prudent processes and safeguards in place.
In a recent Tax Court case, the IRS attempted — unsuccessfully — to supplant the fair market value agreed to by unrelated parties in a partnership transaction.
Multiple sales tax holidays upcoming.
Why the lease liability under ASC 842 and the right of asset are not the same.
The Department of Labor (DOL) released the final changes to Form 5500.
Welcoming seven new hires to our offices.