We know that what sets a successful auto dealer CPA firm apart from all of its competitors is its commitment to service excellence. The HHM Dealership CPA Group seeks to provide the same level of service excellence to your dealership that you provide to your customers.
HHM Auto Dealership CPA Services
Non-Traditional Dealership CPA Services
We can provide dealers and managers with an effective, efficient means of communicating and measuring performance expectations by implementing our thorough operational review. The review process can be conducted as frequently as desired and will consider key areas of dealership management including profitability, sales, asset management, internal control processes, and business management.
Our industry experts have years of experience in expense analysis (looking at a dealership’s expense patterns and determining front-end costs that could be eliminated to increase profitability), while offering suggestions on strategic planning to keep expenses under control and well-monitored.
Our firm is involved in many aspects relative to floorplan for our clients, from finding and comparing providers to reading and providing areas of concern in the agreements. Many dealers focus on interest rate alone, but we find that the other details can be as just as important. Our decades of experience in this area can be of great benefit to you and your dealership.
Our team is comprised of professionals who have worked in a variety of different positions within dealerships, both large and small. Our Dealership Services Group has experience in every imagineable position from Office Manager to Controller to CFO. We have the ability to help train, reorganize, and/or help you consolidate your accounting departments.
Our automotive professionals are well-versed in Reynolds & Reynolds, ADP, Dealer Track, and most other Dealer Management Systems. We can easily work with your office staff (remotely, when necessary) to optimize whichever DMS your dealership utilizes. We find most dealers don’t utilize all of the available tools out there. We can get you up to speed on the latest and greatest and train your staff to realize the full benefits of whatever DMS you use.
From helping you retain your top talent to helping you establish best practice procedures to retain your top consumers, HHM Dealership Services Group can conduct a thorough analysis of how your dealership is performing – and what you can do to increase its performance and profitability.
We work with our clients to find the best possible financing resources, whether to acquire a new store or to refinance a floorplan. We also have experience with clients raising money from venture capital investors. We help our clients negotiate much more than just rates and will help review and make suggestions for legal documents associated with the financing.
We have relationships with dozens of providers and stay actively involved with our clients well past negotiation of fees. We make sure our clients get the most favorable terms – and make sure that the legal documents associated with the agreements match client expectations and allow for the flexibility you should have.
Because we spend so much time in the industry we are usually among the first to know of opportunities for buyers and/or sellers within the dealership industry. Our firm has orchestrated over 200 mergers and acquisitions and maintains close, professional relationships within the legal field to make structuring and negotiating simple and hassle-free for buyers and sellers. We have assisted our clients in everything – from negotiating deals, providing valuation services, and assisting with legal documents to performing due diligence.
If you are interested in exploring whether or not a related finance company (or Buy Here/Pay Here company) is right for your dealership, we have the experience to help you make that decision. We fully understand the nature of related finance company models, and can offer you guidance to help you make the right decision for your dealership and take the correct steps to finish the process successfully.
We are staffed with professional personnel who have worked in all aspects of the automotive industry, including the positions of Controller and/or Office Manager. We can provide you with interim coverage in these positions in the event that you have a vacancy. We can even help you fill that vacancy with our comprehensive personnel placement services, which handle every aspect of the process from placing the advertisement to screening the resumes and conducting interviews.
Traditional Dealership CPA Services
HHM Dealership CPA Group offers a full menu of tax services, including the preparation of Federal and State tax returns, cost segregation, estate planning, and proactive tax planning that is put in writing and provided to you with enough time to implement.
A client’s dealership is the livelihood of his or her family members. This livelihood can also reach far beyond immediate families, impacting key personnel within the dealership. For this reason, estate planning decisions must be in place and must be made wisely. HHM’s professionals can help you create an estate plan to care for your loved ones for many years to come.
A huge part of running a successful dealership is having a viable exit plan in place. Proactive planning can ensure that your ownership is distributed as you wish and that the business you have so carefully built benefits the ones you love. We have extensive experience in working with our clients and addressing family issues while working under the constraints of the manufacturers.
Our firm has been calculating LIFO for our clients for many years. Our LIFO process is efficient and will return your records in a paperless form for easy storage. Remember: your LIFO records are permanent items.
We can review your operations to help you identify weaknesses in your controls that make you more susceptible to theft or reporting errors. We work with our clients to establish controls or checks and balances to hinder errors or employee theft.
HHM offers a vast array of audit and assurance services including, but not limited to, audit, review, and compilation of financial statements. We provide our dealership clients with forecasts and projections. Our goal during each audit is to find ideas or identify concerns that we review at the end of the engagement.
Dealership owners spend years – sometimes a lifetime – building their business. It may seem impossible to put a value on a business that has taken so many years to establish and grow. But our firm has been working with dealers for over 20 years, either helping them buy, sell their business, or value it for estate planning. We have been involved in well over a billion dollars of dealership transactions and feel that our experience and measured approach will help us achieve our clients’ goals.
A cost segregation study increases your near-term cash flow, in the form of a tax deferral, by utilizing shorter depreciation periods which accelerate your deductions. As a result, you will receive a better return on capital from the investment you have made in your property. Cost segregation studies can benefit dealers regardless of whether their buildings are newly constructed or have been in service for a few years.
A huge part of running a successful dealership is having a viable exit plan in place. Proactive planning can ensure that your ownership is distributed as you wish and that the business you have so carefully built benefits the ones you love.
HHM has a well-developed Litigation niche staffed with knowledgeable members who hold certifications and licenses in business valuation and financial forensics, including: Certified Public Accountant (CPA), Certified Valuation Analyst (CVA), Master Analyst of Financial Forensics (MAFF), and Certified Fraud Examiner (CFE). Our team takes each case seriously and aspires to provide each client with the best professional service possible.
HHM’s Dealership Services Group conducts educational seminars for clients and industry affiliates periodically throughout the year. If you have a topic or issue about which you need more information, the HHM Dealership Services Group can arrange an onsite briefing for you and your employees – or we can host an event at our office in Chattanooga, TN.
At HHM Dealership CPA Group, we pride ourselves on the following key areas of our service-oriented philosophy:
Our professionals have expertise in numerous areas, allowing us to respond promptly to your concerns
We are on the leading edge of issues affecting dealers across the nation, and we strive to learn all we can about each dealership we serve. This enables us to provide proactive advice unique to your business.
We want to meet with you regularly in order to devise the best ideas, strategies, and plans for achieving your goals and objectives. Our service teams are constructed to foster consistent and effective communication.
We have low staff-to-partner ratios, and our partners are personally involved in each engagement to give you experienced guidance and reliable service.