Other federally declared disasters this year include widespread flooding in Illinois, wildfires in New Mexico, and tropical storms in Pennsylvania and Georgia. Victims of these disasters may be eligible for tax relief.

Our 2024- 2025 Tax Planning Guides contain the insight needed to help navigate the latest legislation and plan for the year ahead, while taking advantage of tax saving strategies.

Jacob Pardue, manager at HHM CPAs, dives into key dealership-specific tax planning strategies and considerations. He discusses how automotive businesses can navigate the challenges of expense control, budgeting, and year-end planning to optimize their tax positions.

With the election behind us, it’s the perfect time to focus on year-end tax planning

With rising interest rates, inflation, and continuing market volatility, tax planning isas essential as ever for taxpayers looking to manage cash flow while paying the least amount of taxes possible over time. As we approach the end of the year, now is the time for individuals, business owners, and family offices to review their 2024 and2025 tax situations and identify opportunities for reducing, deferring, or accelerating their tax obligations.

As published in IRS News Release IR-2024-285, Nov. 1, 2024

As part of our Tax Planning Series, we’re diving into important updates and strategies to help you prepare for the 2024 tax season. From inflation adjustments to tax brackets and deductions to special credits and end-of-year planning opportunities, Zach Kanady, supervisor at HHM CPAs, covers these important topics and more in a Q&A.

In the last month Hurricanes Helene and Milton alone have caused billions of dollars of damage across much of the Southeastern United States. Other federally declared disasters this year include widespread flooding in Illinois, wildfires in New Mexico, and tropical storms in Pennsylvania and Georgia. Victims of these disasters may be eligible for tax relief.

The end of year is an important time for small businesses. It is important because it is a great time to review your business operations and performance. Not only to prepare for taxes but also make plans for next year. So, what should you do and where should you start?