Advertise on podcast: Cherry Bekaert: Tax Services

Targeted populations transactions offer a powerful, but often misunderstood, pathway to qualify for New Markets Tax Credits (NMTCs). These deals can unlock financing for projects that serve or employ low-income individuals, even when they fall outside traditional geographic eligibility. However, they also introduce unique compliance challenges and require strategic planning to execute successfully. In this episode of Cherry Bekaert’s Tax Services Podcast, Jason Callaham and Joe Hennessee, Senior Managers in the Strategic Financing Services group, break down the essentials of targeted populations within the NMTC program. They explore: What targeted populations are and why they matterCommon misconceptions and compliance hurdlesPractical strategies for structuring competitive transactionsReal-world lessons from a recent youth services project in AlaskaWhether you’re a nonprofit, business sponsor or investor, this conversation offers actionable insights to help you leverage targeted populations effectively and deliver meaningful community impact.

New Markets Tax Credits (NMTCs) continue to be a transformative tool for driving economic development and revitalization in underserved communities. With the recent passage of legislation making the NMTC program permanent beginning January 1, 2026, organizations now have long-term certainty to plan and invest in impactful projects. In this episode of Cherry Bekaert’s Tax Services Podcast, Laurel Tinsley, Strategic Financing Services Leader, speaks with Emma Wyatt, Chief Operating Officer of The Innovate Fund, about how NMTCs are being leveraged to create meaningful outcomes across a six-state service area. The conversation explores how The Innovate Fund identifies and structures projects that generate quality jobs, improve health and wellness, and align with long-term community goals.  Discover how Cherry Bekaert's Strategic Financing Services team and the Innovate Fund are working together to strengthen local economies and support sustainable growth.

New Markets Tax Credits (NMTCs) are a powerful tool for driving economic development and expanding services in underserved communities. In this episode of Cherry Bekaert’s Tax Services Podcast, Trevor Nelson, Manager with the Strategic Financing Services team, speaks with Catriona Carlisle, Executive Director of Meals on Wheels of Greenville, about how NMTCs supported a major facility expansion. The conversation highlights the key phases of a successful NMTC closing, from project planning through compliance. It also demonstrates how Cherry Bekaert’s Strategic Financing Services team supports clients throughout the NMTC process, helping unlock funding and enhance community impact. Listeners will gain practical insights on aligning with community development goals, managing documentation and compliance while keeping stakeholders informed. This client testimonial emphasizes the importance of preparation, strong partnerships, and long-term planning in delivering meaningful, lasting change.

New Markets Tax Credits (NMTCs) provide essential benefits for driving economic growth and revitalization in underserved communities. By leveraging this impactful program, organizations can attract significant private sector investment through loans or equity, transforming community development projects and expanding access to jobs, facilities and services. Additionally, NMTCs enhance the capacity of community development lenders, investors and financial service providers, creating a robust network that addresses the needs of low-income areas. With strategic allocation and comprehensive guidance, NMTCs empower businesses and nonprofits to achieve substantial community impact and sustainable growth. On this episode of Cherry Bekaert’s Tax Services Podcast, Laurel Tinsley, Strategic Financing Services Leader, and David Altman, Project Finance Senior Manager, delve into the fundamentals of NMTCs and their profound influence on community revitalization. Together, they explore insightful examples of NMTC-driven projects and discuss how Cherry Bekaert's Strategic Financing Services team supports organizations in navigating the NMTC process.  Discover how Cherry Bekaert combines strategic knowledge and a nationwide network to maximize the benefits of NMTCs for impactful community development.

Sales tax automation provides numerous advantages, simplifying the complex process of calculating sales and use taxes. By leveraging advanced tax technology, such as Avalara, businesses can streamline tax compliance and rely on accurate tax calculations that can withstand the scrutiny of an audit.  Additionally, automation simplifies tax management across multiple platforms, channels, and enterprise resource planning (ERP), allowing businesses to scale without worrying about sales tax. With real-time updates and precise tax calculations, businesses can focus on strategic activities, confident that their sales tax compliance is accurate and efficient.   On this episode of Cherry Bekaert’s Tax Services Podcast, Sales & Use Tax Leader Lauren Stinson and Sales & Use Tax Senior Manager Tiffany Rodi are joined by Avalara’s Global Head of Strategic Accounting Partnerships Sona Akmakjian. Together, they explore the transformative impact of technology on sales tax compliance and discuss insights on automated tax solutions. Discover the strategic partnership between Cherry Bekaert and Avalara, which merges technology with professional guidance to optimize tax processes for businesses.  Related Insights Case Study: From Overlooked Liability to Optimized SaaS Sales Tax Compliance in AvalaraArticle: The Vital Role of Accurate Product Tax CodesArticle: Why Your Business Needs a Sales Tax Software Tune-UpArticle: Vermont Sales Tax Laws: Pre-Written Software Sellers With Nexus Must Collect and Report Sales TaxArticle: How Sales Tax Complications Are Stalling Tech Acquisitions

In the most recent episode of Cherry Bekaert’s Tax Services podcast, we focus on the Virginia pass-through entity tax (PTET) election. Join Cathie Shaw, partner at Cherry Bekaert, and Tony Konkol, State and Local Tax Manager, as they navigate the intricacies of this important topic. The Virginia PTET election is a crucial consideration for businesses operating in the state. Throughout the podcast, our knowledgeable speakers address common questions and concerns and provide clarity on key issues, such as cash flow implications, refundability and the interplay with federal tax regulations. Cathie and Tony explore the benefits of making the election, including potential tax deductions and credits, as well as the practicalities of filing and deadlines. They also cover the retroactive nature of the election and tips on navigating the complexities of state tax law. Whether you're a business owner, tax professional, or simply interested in the intricacies of state tax law, this episode offers valuable insights to help you navigate the complexities of the Virginia pass-through entity tax election. Related Thought Leadership Article: Top 10 States for Credits and Incentives OpportunitiesArticle: How To Determine if Your Company Is Eligible for State Credits and IncentivesPodcast: How To Take Advantage of Pass-Through Entity Tax in North CarolinaPodcast: How Does the Georgia Pass-Through Entity Tax Election Work?

Following other jurisdictions that created a workaround from new requirements in the Tax Cuts and Jobs Act of 2017, North Carolina first enacted their pass-through entity tax (PTET) election through North Carolina Bill 105. These elections became available to businesses on January 1, 2022. Businesses operating as partnerships or S Corporations and filing a Federal Form 1065 or 1120-S, are potentially eligible to take advantage of the North Carolina PTET election.  Cathie Stanton, State & Local Tax Leader, and Tony Konkol, State & Local Manager, are back on Cherry Bekaert’s Tax Podcast to discuss North Carolina’s PTET elections. Together, they unpack how businesses can capitalize on this benefit, utilize this election, tackle its intricacies and comply with each jurisdiction’s varying requirements when filing. Related Resources: State Pass-Through Entity Tax Elections – Don’t Leave Cash on the Table!North Carolina Department of Revenue Issues Guidance & Updated FAQs on the State’s Pass-Through Entity TaxPass-Through Entity Tax UpdatePass-Through Entity Tax Services

Georgia House Bill 149, that went into effect January 1, 2022, created the opportunity to make pass-through entity tax (“PTET”) elections in the state. PTET elections provide a workaround of the $10,000 limitation for the amount of state and local taxes that individuals can deduct from federal taxes. Businesses that operate as S-corporations, pass-through entities, partnerships, and LLCs treated as partnerships, are all potentially eligible to take advantage of these savings. Join Cathie Stanton, State & Local Tax Leader, and Tony Konkol, State & Local Manager, on Cherry Bekaert’s latest podcast as they discuss the intricacies of how PTET elections can benefit Georgia businesses. Related Resources:  State Pass-Through Entity Tax Elections – Don’t Leave Cash on the Table!Georgia & South Carolina Enact Pass-Through Entity Tax ElectionPass-Through Entity Tax UpdatePass-Through Entity Tax Services

On June 1, 2022, the Internal Revenue Service (“IRS”) released the latest edition of the audit technique guideline (“ATG”). The recent round of updates take a look at the complexity around cost segregation studies and provide more guidelines and clarity for these studies. In Cherry Bekaert’s latest Tax Credits and Incentives Advisory’s (“TCIA”) podcast, Ron Wainwright, a Strategic Tax Partner and Leader of the Cost Segregation Practice in the TCIA group, and Sean O’Leary, a Senior Manager, dive into these cost segregation study updates and provide deeper guidance, discuss the new audit technique guideline (“ATG”) for cost segregation.  Chapter Markers: 1:24 – What is the Cost Segregation ATG?2:15 – Background on ATG4:30 – Latest ATG Changes7:47 – Areas of Focus for IRS11:21 – What to Expect from an IRS Audit23:30 – Impact of Cost Segregation on Taxpayers26:33 – Concluding ThoughtsRelated Guidance: Hot Topics in Cost SegregationCost Segregation Services

Our Tax Credits & Incentives Advisory podcast dives into the current hot topics our knowledgeable leaders have been seeing around cost segregation. This podcast covers the basics of cost segregation with a focus on the updated Audit Technique Guideline (ATG) for cost segregation. Our speakers will also provide clarity around how bonus depreciation can help with a cost segregation study and how qualified improvement property can help taxpayers that own real property. Chapter Markers 1:29 - What Is Cost Segregation? 4:02 - Bonus Depreciation 7:43 - Qualified Improvement Property 11:04 - ATG Updates 18:32 - ATG for 179D

In this episode of Cherry Bekaert’s Tax Credits & Incentives Advisory Podcast, Martin Karamon welcomes Tax Credits & Incentives Advisory leaders Dan Mennel and Vivian Kohrs to talk about R&D documentation as you make investments in technology or look at the ROI of making such an investment. The R&D Tax Credit is one of the most lucrative incentives available to taxpayers and provides a permanent offset to tax liabilities. This credit is an activity-based credit – meaning that if a taxpayer is performing specific types of activities, the costs incurred to perform those activities go into a separate tax credit calculation. As it relates to the R&D Tax Credit, Cherry Bekaert’s Tax Credits & Incentives practice is primarily focused on helping companies identify and document qualifying R&D costs.  Discussion includes: Types of investment and the four-part test to determination qualificationHow to properly document support for R&D activities, which may qualify as these types of investmentsReal-life examples of qualified R&D investmentsIRS ASC 730 directiveIf you have any questions specific to your business needs, Cherry Bekaert’s Tax Credits & Incentives Advisory team is available to discuss your situation with you. If you haven’t already, catch up on other podcasts covering the R&D topic: What’s New with R&D Tax Credits in 2022 Tax Beat: Digital Transformation and R&D Tax Credits The Benefits of using a CPA Firm to Perform Credits & Incentives Projects

R&D tax credit studies help companies secure cash from credits and incentives in recognition of their innovative products, services and activities. When a R&D study is well prepared, it represents a low-risk endeavor that usually generates a strong ROI for the taxpayer. However, when the study is not well prepared, it can be high risk and have a low ROI. This podcast shares what to consider when selecting your R&D study provider to ensure you receive the best quality services at fair prices. It also revisits the relevance of Circular 230 as well as IRS guidance on amended returns, contrasting the approaches taken by a CPA firm and a boutique firm.  Marty Karamon, Leader of Cherry Bekaert’s Tax Credits & Incentives Advisory Group, is joined by Ron Wainwright and Dan Mennel, both Tax Partners in the Firm’s Tax Credits & Incentives Advisory Group, to discuss the benefits of working with a CPA firm to perform your tax credits and incentives projects.  This podcast is the first in a series of episodes focusing on the news and nuances of tax credits and incentives for businesses. Related Guidance: Podcast: 2022 Update on the Employee Retention Credit Podcast: What’s New with R&D Tax Credits in 2022

Now is the time to take a first, second or third look at the Employee Retention Credit (“ERC”). It’s not too late for employers to qualify for significant tax credits due to partial shutdowns or declines in gross receipts during 2020 and 2021. Cherry Bekaert’s Jamie Walker, Tax Services Partner, and Martin Karamon, Tax Services Principal and leader of the firm’s ERC Team, clear up the confusion about the ERC. Find out if your company may qualify for the ERC, tips to monetize the credit and insight into the refund process.  Additional Guidance: Tax Beat Podcast: Employee Retention Credit GuidanceArticle: Four Ways to Monetize the Employee Retention CreditPodcast: Employee Retention Credit for Law FirmsPodcast: Employee Retention Credit for Portfolio Companies

Don’t miss the opportunity for PPP loan forgiveness! Payment deferral periods are ending for many loan recipients. Find out when you need to apply for forgiveness and learn how the application process works. Cherry Bekaert’s John Carpenter, Managing Director and leader of the firm’s PPP Loan Assistance team, is joined by Evan Usry, Senior Associate, to discuss what you need to know about PPP Loan Forgiveness. 

Chapters: 1:10 - Address the postponed deadline for Form 1040 6:45 - Walk through key individual tax provisions contained in ARPA 14:55 - Continue to business tax provisions contained in ARPA 17:40 -Identify changes to the Employee Retention Credit program 25:37 - Highlight state and local income tax implications ---------------------------------------------------------------------------------------------------- Join us and listen in as our roundtable of tax leaders discuss the American Rescue Plan Act, 2021 (“ARPA”) and comment on the recent announcement from the IRS postponing the tax filing due date.  The team will address which taxpayers are impacted and what additional issues are raised by the new legislation.   Walk through key tax provisions contained in ARPA Identify changes to the Employee Retention Credit program Highlight state and local income tax  compliance issuesSpeakers: Brooks Nelson, Tax Partner, Tax Advisory Group LeaderCatherine Stanton, Tax Partner, State and Local Tax Group LeaderMartin Karamon, Tax Principal, Federal Tax Credits and IncentivesSarah McGregor, Tax Director, Federal Tax Services