Architectural & Engineering (A&E) firms that propose or work on government contracts may be required to have an adequate system review. In this episode of Cherry Bekaert’s Professional Services podcast, Brynn McNeil, an Audit Partner in the Firm’s Professional Services Industry practice, welcomes Eric Poppe, a Managing Director in our Government Contractor Industry practice, to discuss the types of systems reviews and the advantages these reviews can provide emerging small businesses....

Architectural & Engineering (A&E) firms that propose or work on government contracts may be required to provide overhead rates prepared in accordance with the Federal Acquisition Regulation (FAR). Many government agencies require that A&E firms have their overhead rates audited.In this episode of Cherry Bekaert’s Professional Service Podcast, Brynn McNeil, an Audit Partner in the Firm’s Professional Services Industry practice, welcomes Mandy Grivnovics, an Audit Senior Manager in ...

When the Inflation Reduction Act (IRA) was signed, it greatly increased the benefits of the Section 179D Energy Efficient Commercial Buildings Deduction (Section 179D) for A&E firms. A large part of the process when claiming the Section 179D deduction relies on keeping strict documentation. Form 7205 is a form in the claiming process that qualified businesses and individuals use to calculate the deduction, mark yourself as the designer or building owner, and provide information on the per...

What year-end, tax-saving steps can professional services businesses and their owners take? How can they prepare for tax law changes impacting 2023? In this episode of Cherry Bekaert’s Professional Services podcast series, Dale Hrapchak, Tax Partner in Cherry Bekaert’s Professional Services Industry practice, and Amber Teague, Tax Partner in the Firm’s Private Client Services practice, discuss year-end tax planning at the entity and individual levels, including pertinent information for ...

The Inflation Reduction Act (IRA), signed into law on August 16, 2022, significantly increases IRC Section 179D energy tax deductions. These tax incentives are highly advantageous to architectural and engineering (“A&E”) firms responsible for the design components of government-owned, energy-efficient buildings. The IRA also extends the deduction to designers of commercial buildings owned by tax-exempt organizations, including not-for-profit organizations, churches and other religious organ...

IRC Section 179D energy tax deductions continue to provide opportunities and benefits for architecture and engineering (A&E) firms. Scott Duda, Leader of Cherry Bekaert’s Professional Services Industry practice, sat down with Ron Wainwright, a Partner in the Firm’s Tax Credits & Incentives Advisory practice, and Sean O’Leary, a Senior Tax Manager to discuss ways 179D can help provide A&E firms with a competitive advantage. This podcast includes: An overview of 179D and i...

Following our Digital Transformation in Law Firms Series Scott Duda, Leader of Cherry Bekaert’s Professional Services Industry practice had the opportunity to sit down with Denise Tyson, the Head of Finance & Operations at Tyson & Mendes, and Jennifer Mackinnon, Senior Client Success Manager with our own Digital Advisory Practice. Denise joins us to talk about Tyson & Mendes’ journey of digital transformation for reporting, the power of data, and the benefits of using a powerful a...

The Infrastructure Investment and Jobs Act (“IIJA” or the “Infrastructure Bill”), a $1.2 trillion investment in our nation’s infrastructure and competitiveness, provides significant opportunities for businesses within the professional services sector. How will this increased activity impact professional services firms? What do professional services firms need to do to prepare for the influx in opportunities? Listen to Scott Duda, Leader of Cherry Bekaert’s Professional Services Indu...

Join host Scott Duda, Leader of Cherry Bekaert’s Professional Services Industry practice as he sits down with Jeff Gump, Financial Advisor with Cherry Bekaert Wealth Management, to discuss VIP plans. Although many think of very important people when they hear VIP, in this case, it stands for Direct Recognition Variable Investment Plans. Coincidentally, although many may think they are familiar with these types of plans and have seen them before, there are some considerations that may have bee...

Cybersecurity and data threats are making headlines daily, particularly in the financial and professional services space. Law firms are responsible for handling a tremendous amount of private information for their clients. Ensuring your firm has a strong cybersecurity architecture is critical to mitigate risk and minimize disruption.In the final episode of this series Scott Duda, Leader of Cherry Bekaert’s Professional Services Industry practice is joined by Dan Hulen, a Director and Business...