Download Whitepaper The impact of artificial intelligence on how we live, work and do business has been undeniable for over a decade. Its practical applications range from suggesting the next sen­tence when crafting emails to producing lifelike animations, from enabling smart and interconnect­ed manufacturing robots to efficiently distribute workloads on assembly lines to predicting customers’ preferences or even helping land a plane. Artificial intelligence is a broad term for technology that builds upon pattern recognition to make pre­dictions, which are the foundation of robotic process aut ..read more

What Does Transferable Value Really Mean? For a closely held business, transferable value is simply what a business is worth to someone else without its original owner. It is important to not confuse it with profit−your company may bring in millions of dollars of profit each year, but this does not necessarily mean it has transferable value. True transferable value for a business is determined not by how well you run the business, but by how well the business runs without you. Business owners are not always aware that transferable value is more than a formula involving multiples of earnings or ..read more

Contributors: Nick Cousino, Senior Manager | State Credits & Incentives Advisory What Are State Credits and Incentives? Throughout the U.S., individual states offer unique tax credits and negotiated incentives to attract or retain business operations. Currently, there are more than 2,400 state and local incentive programs available. There are a variety of ways these tax credits and incentives can be utilized to benefit companies: Tax credits for dollar-for-dollar reductions to a company’s overall tax liability Refundable tax credits where companies may receive a refund in excess of the ta ..read more

New OMB Guidance for Federal Assistance (formerly known as the OMB Guidance for Grants and Agreements) was released on April 12, 2024. Still in pre-publication form, however, the effective date of the new rule is expected to take effect on October 1, 2024. As part of the process, OMB welcomed more than 829 public comments from a various stakeholders, including States, local governments, Indian Tribes, labor organizations, industry associations, nonprofit organizations, for-profit organizations, colleges, universities and individuals. This update is meant to improve Federal financial assistance ..read more

Each year, as the tax filing deadline nears, it is important to identify your projected tax payments and when to pay them so you can avoid submitting inaccurate tax returns. Staying up to date with the most recent Internal Revenue Service (IRS) withholding and estimated tax payment guidelines for individuals is also crucial in understanding how these regulations will affect your taxes. This podcast focuses on estimated tax payments, withholding and related cash flow planning. The first episode of the joint podcast series between Cherry Bekaert’s Private Client Services group and Choreo Ad ..read more

The Governmental Accounting Standards Board (GASB) recently issued Statement No. 102, which adds new disclosure requirements for governments. Numerous risks loom over state and local governments, which could impair their service delivery or hinder their capacity to fulfill obligations in a timely manner. While certain risks demand disclosure, many others that commonly plague these governments have not been disclosed because they were not explicitly required. To address this gap, Statement No. 102 was issued with the intention to provide stakeholders of government financial statements with indi ..read more

View Full Report Regulatory Compliance Digest’s February/March issue provides a summary of the latest updates from FDIC, OFAC, FinCEN and the U.S. Department of the Treasury, in addition to CFPB, FFIEC and the Federal Reserve Board. This issue also includes hot topics and latest developments in the regulatory compliance space. The Regulatory Compliance Digest is intended to keep you informed of regulatory changes in advance of their effective date, so your institution can evaluate changes or updates to necessary policies, procedures and processes in place to be compliant at the time of enactme ..read more

By proactively embracing California and the SEC’s new carbon reporting rules, businesses can not only achieve compliance but also contribute to a more sustainable and resilient future. As the global community grapples with the increasing threat of climate change, governments and regulatory bodies around the world are adopting mandates to help mitigate their overall environmental impact. In fact, most nations in the developed world, including the U.S. and China, have announced a goal of getting to net zero carbon equivalent emissions by 2050. Globally, the near-term goal is to cut carbon emissi ..read more

In March, Cherry Bekaert joined thousands of leaders from across the globe in Houston to explore technologies and strategies for energy transition. Known as Houston’s “Super Bowl of energy,” the annual conference spun off from the energy research firm Cambridge Energy Research Associates (CERA), which was founded 41 years ago in Cambridge, Mass. This year’s event featured at least 1,400 speakers, discussing strategies for a multidimensional, energy transition. Topics evolved around responding to growing demand for emissions reductions to leveraging artificial intelligence (AI). At Cherry Bekae ..read more

On campuses around the country, the name, image and likeness (NIL) policy is revolutionizing the way student-athletes can obtain benefits while attending a college or university. As of July 2021, student-athletes can enter NIL deals if they comply with state law and the NCAA’s rules. Essentially, NIL allows college athletes to monetize their personal brand by profiting from their name, image and likeness through various opportunities such as endorsements, sponsorships, social media posts and more. In the first episode of our NIL podcast series, Anthony Kocheron, an associate in Cherry Bekaert ..read more