Year-End Checklist for Dealerships

With 2025 ending, it’s time to get prepared for your company’s year-end. With this comes preparation for the documents that your accountant will need to efficiently and accurately complete tax returns and CPA issued financial statements. To make the process as seamless as possible for you and your CPA, here are several things to consider and complete. 

Danielle Brock

dbrock@hhmcpas.com

901.261.0329

IRS Fact Sheet 2025-05: Expiration and Modification of Certain Energy Credits

Once the Reconciliation Bill was signed into law on July 4, 2025, several significant tax changes were enacted for upcoming tax years. Specifically, the Bill accelerated the termination of several energy credits, including credits for alternative fuel refueling property, previously owned clean vehicles, and new clean vehicles. We share an overview of the impacts here.

Matthew Shepherd

mshepherd@hhmcpas.com

423.756.7771

Internal Control Process Recommendations

You can break down internal controls into two categories: preventative and detective. Our goal is to protect the business by working to prevent and detect human error, misconduct, and fraud. 

To prevent control issues with staff, you should be proactive. Here are a few ideas to ponder.

Lindsey Bouldin, CPA

lbouldin@hhmcpas.com

423.756.7771

Employee Theft in Car Dealerships on the Rise

Car dealerships are facing rising levels of theft among employees. This is fueled by multiple factors, including economic pressures, technological vulnerabilities, and internal control weaknesses. Fortunately for dealers, by viewing these factors through the Fraud Triangle Theory, there are practical steps you can take to lessen your risk of loss. This article explores the key factors contributing to this rise in theft and outlines practical steps to protect the dealership.

Paula Mashburn, CPA

pmashburn@hhmcpas.com

850.434.5574

Loan Covenants Compliance

In today’s market, covenant compliance and working proactively with your lender is a financial necessity. Prior to year end, dealerships need to be reading their loan documents, monitor covenant performance, communicate openly with lenders, and address potential issues early. This article explains how and why you need to review your loan covenants.

Nicole Breetz, CPA, MBA

nbreetz@hhmcpas.com

423.756.7771

Tax Planning Guides

Our 2025–2026 Tax Planning Guides for Individuals and Businesses provide timely insights to help you navigate recent tax law changes and identify opportunities to reduce your tax liability. With the passage of the Reconciliation Bill (H.R.1), recent Federal Reserve interest rate cuts, and inflation showing signs of moderation, proactive tax planning remains more important than ever.

More of our popular resources linked below:



• Individual Tax Planning: What's Changed and What Individuals Need to Know
• Business Tax Filing Season 2026: What’s New, What Matters, and Why Credible Information Counts
• Business Email Compromise
• IRS to Phase Out Paper Refund Checks Under Executive Order
• Avoid Tax Surprises: How to Plan and Pay Estimated Taxes
• Estate and Gift Tax Planning
• H.R. 1 Expands QSBS Exclusions: Key Updates to Section 1202
• Introduction to the Voluntary Fiduciary Correction Program
• Comprehensive Client Guide: Major Tax Changes Under Reconciliation Bill H.R.1
• Guidance on Filing Form 5330 Related to Excise Taxes
• Recent Tax Law Changes Affecting Tax-Exempt Organizations