Bennett Thrasher Presents: Beyond The Ledger

Bennett Thrasher

Explore “Beyond the Ledger,” Bennett Thrasher’s podcast where advisors and industry leaders look past the numbers to uncover the strategies, risks, and opportunities shaping today’s businesses. Each episode delivers timely insights across tax, advisory, and technology to help provide clarity through confident advisement.

  1. 4D AGO

    Unlocking Tax-Free Growth with Qualified Small Business Stock

    In this episode of Beyond the Ledger, host Shardae Layfield sits down with Lauren Brown to explore Section 1202 and Qualified Small Business Stock (QSBS), breaking down one of the most valuable tax planning opportunities available to founders, investors, and growing businesses today. The conversation covers the fundamentals of QSBS, recent legislative updates, qualification requirements, common pitfalls, and proactive strategies that can help maximize long-term tax savings and support future exit planning. Takeaways Understanding Section 1202: QSBS offers eligible shareholders the opportunity to exclude a significant portion of capital gains from federal taxes when specific requirements are met.Qualification Requirements Matter: Entity structure, active business requirements, stock issuance timing, and holding periods all play a critical role in maintaining QSBS eligibility.Legislative Updates Continue to Shape Planning: Recent legislative changes have created new considerations and planning opportunities for founders, investors, and advisors evaluating long-term tax strategies.Early Planning Creates Greater Flexibility: Structuring the business correctly from the beginning can significantly impact future tax outcomes and exit opportunities.Common Pitfalls Can Jeopardize Benefits: Certain ownership changes, redemptions, business activities, and entity conversions may unintentionally disqualify QSBS treatment.Coordination Across Advisors is Critical: Tax, legal, and financial advisors should work together proactively to help businesses preserve eligibility and avoid costly mistakes.QSBS Can Support Exit Strategy Planning: Understanding how Section 1202 aligns with future liquidity events can help founders and investors maximize after-tax value.Ongoing Evaluation is Essential: As businesses evolve, regularly reviewing eligibility requirements and planning opportunities helps ensure continued alignment with QSBS rules and long-term goals.Chapters 00:00 Understanding Section 1202 and QSBS 03:09 Core Requirements for QSBS Qualification 05:58 Recent Legislative Changes and Their Impact 08:49 Common Traps and Mistakes in QSBS Planning 12:09 Strategic Considerations for Founders and Investors 14:51 The Importance of Proactive Coordination 18:01 Evaluating QSBS Eligibility and Future Planning 🔗 Learn more: btcpa.net | Follow Bennett Thrasher for more conversations that move business forward.

    21 min

  2. MAY 4

    Tax Incentives Exposed: Are You Saving Big or Taking Big Risks?

    In this episode of Beyond the Ledger, host Shardae Layfield, alongside the expertise of Duwayne Sibley and Nina Desai, breaks down how businesses can more effectively capture and defend tax incentives like cost segregation and R&D credits. The conversation explores how differences between boutique providers and full-service public accounting firms can significantly impact both the value realized and the level of risk assumed. Key Takeaways: ·Boutique vs. Full-Service: Specialized vs. integrated; full-service firms align incentives with broader tax strategy. ·Study Quality Drives Outcomes: Methodology, documentation, and technical depth determine long-term value and audit defensibility. ·Hidden Risks of Boutique Providers: Lower upfront cost can lead to gaps in compliance, integration, and increased audit exposure. ·Audit Readiness is Essential: Strong documentation, basis reconciliation, and alignment across reporting areas are critical under rising IRS scrutiny. ·Holistic Strategy Matters: Integrating cost segregation, R&D credits, and overall tax planning delivers stronger results than siloed approaches. ·Collaboration Enhances Value: Cross-functional coordination improves both opportunity capture and risk mitigation. ·Choose Providers Strategically: Evaluate expertise, methodology, integration, and audit support; not just cost. Chapters 00:00 Understanding Boutique vs. Public Accounting Firms 03:32 Cost Segregation Studies: A Comparative Analysis 11:19 The Risks of Choosing Boutique Firms 17:56 Evaluating Trade-offs in Accounting Choices 19:14 Understanding R&D Tax Credits and Compliance Requirements 20:40 The Importance of Basis Reconciliation in Cost Segregation 22:58 The Benefits of Full-Service Public Accounting Firms 26:11 Holistic Tax Strategies for Businesses 30:03 Key Questions for Engaging Providers 34:47 Navigating IRS Scrutiny and Evolving Regulations Resources: American Society of Cost Segregation Professionals (ASCSP) - https://ascsp.org/ Bennett Thrasher - https://www.btcpa.net/resources Guest Links: LinkedIn - https://www.linkedin.com/in/ninadesai/ LinkedIn - https://www.linkedin.com/in/dewaynesibley/ 🔗 Learn more: btcpa.net | Follow Bennett Thrasher for more conversations that move business forward.

    38 min

  3. MAR 18

    Multi-State Sales Tax Risk: Clean It Up Quietly or Face the Audit?

    In this episode of Beyond the Ledger, host, Shardae Layfield, alongside the expertise of DiAndria “Dee” Green (The SALTy Lawyer), breaks down how businesses can proactively manage multi-state sales tax exposure through strategic tools like voluntary disclosure agreements (VDAs) and managed audits. The conversation explores how evolving nexus rules and increased enforcement are creating new risks for companies operating across state lines. Dee shares practical insights on how businesses can limit liability, navigate complex state requirements, and make informed decisions between remediation options. The discussion also highlights the importance of timing, documentation, and proactive compliance to avoid costly audits and long-term exposure.  Key  Topics Many businesses don’t realize their multi-state sales tax exposure until it’s costly.VDAs can limit lookback periods and reduce penalties.Timing matters—once a state contacts you, VDAs may be off the table.Choosing between VDAs, backfiling, or audits depends on risk, cost, and exposure.Managed audits are more time-intensive and documentation-heavy.Lack of awareness keeps companies from leveraging VDAs.Strong documentation is critical for audit defense.Sales tax compliance impacts M&A, due diligence, and valuation.State and local rules vary—expert guidance + automation are key.Stay proactive: Taxability → Nexus → Exposure → Fix → AutomateChapters 00:00 Introduction to Multi-State Sales Tax Exposure 02:10 Understanding Voluntary Disclosure Agreements (VDAs) 08:11 Benefits of Voluntary Disclosure Agreements 12:01 Common Misconceptions About VDAs 17:12 Operational and Reputational Benefits of VDAs 20:34 Exploring Managed Audits 20:54 Understanding Audits vs. Voluntary Disclosure Agreements 23:44 Key Decision Points for Businesses 26:58 The Importance of Timing in Tax Compliance 28:31 Best Practices for Negotiating with Tax Authorities 32:13 Navigating State-Specific Rules and Nexus 36:24 Proactive Strategies for Sales Tax Compliance Resources Bennett Thrasher State and Local Tax Practice - https://btcpa.net/services/state-local-tax/ 🔗 Learn more: btcpa.net | Follow Bennett Thrasher for more conversations that move business forward.

    43 min

  4. JAN 12

    Debt or Dividend: Structure, Rates, and Audit Exposure

    In this episode of Beyond the Ledger, host, Shardae Layfield, alongside the expertise of, Ben Miller and Abbas Raza discuss the complexities of financing transactions within the realm of transfer pricing. The guests discuss the importance of understanding inter-company debt versus payables, the necessity of proper documentation, and the common pitfalls companies face. They also explore how to establish arm's length interest rates, the implications of global tax authority expectations, and the use of safe harbor rates. The discussion emphasizes the need for companies to be proactive in managing their financing transactions to avoid potential audits and recharacterization issues. Takeaways Financing transactions are often overlooked in transfer pricing discussions.Documentation is crucial for defending inter-company loans during audits.Time can exacerbate small issues into significant problems in financing transactions.The IRS uses data analytics to identify potential issues in inter-company financing.Establishing arm's length interest rates requires understanding both borrower and lender perspectives.Common operational missteps can lead to significant tax implications.Safe harbor rates provide a useful tool for pricing inter-company loans.Debt to equity misalignments can trigger audits and recharacterization risks.Narrating a coherent story is essential for defending transfer pricing strategies.Foreign tax authorities may accept U.S. safe harbor rates if they do not disadvantage their tax base.Chapters 00:00 Introduction to Financing Transactions 02:56 Understanding Inter-Company Debt vs. Payables 05:55 The Importance of Documentation in Financing Transactions 09:09 Identifying Red Flags in Inter-Company Financing 12:07 Establishing Arm's Length Interest Rates 15:14 Common Operational Missteps in Financing Transactions 18:13 Navigating Global Tax Authority Reactions 20:47 Utilizing Safe Harbor Rates in Financing Transactions 24:05 Conclusion and Key Takeaways 🔗 Learn more: btcpa.net | Follow Bennett Thrasher for more conversations that move business forward.

    50 min

  5. 12/31/2025

    The Multistate Tax Wake-Up Call: Are You Filing Where You Should Be?

    In this episode of Beyond the Ledger, host, Shardae Layfield, alongside the expertise of, Matthew Laney discusses the complexities of multi-state income tax, focusing on California's recent regulatory changes, the implications of federal legislation, and the nuances for professional service providers. He emphasizes the importance of understanding nexus, tax obligations, and the potential pitfalls for partnerships and corporations. The conversation also covers common mistakes in multi-state taxation, options for addressing missed filings, and strategies for compliance as the tax season approaches. Takeaways California's tax regulations are complex and evolving.Professional service providers face unique sourcing challenges.Recent federal legislation may impact state income taxes.Understanding nexus is crucial for tax compliance.Partnerships and corporations have different tax considerations.Common mistakes can lead to significant tax exposure.Voluntary disclosure can mitigate penalties for non-filers.Monitoring tax obligations is essential for compliance.Timely communication with tax advisors can prevent issues.Planning ahead is key to navigating tax season effectively.Chapters 00:00 California's Complex Tax Rules and Recent Amendments 12:56 Nuances for Professional Service Providers 16:51 Impact of Recent Federal Legislation on State Taxes 24:58 Understanding Nexus and Tax Obligations for Remote Sellers 26:07 Entity Structures and Tax Implications 35:26 Navigating Multi-State Tax Complexity 40:38 Common Missed Tax Filings 45:00 Remediation Options for Missed Filings 48:41 Final Thoughts for Tax Season Preparation 🔗 Learn more: btcpa.net | Follow Bennett Thrasher for more conversations that move business forward.

    51 min

  6. 12/29/2025

    Shake-Ups and Tax Wins: The OBBBA Edition Every Taxpayer Needs To Hear

    In this episode of Beyond the Ledger, Shardae Layfield, alongside the expertise of Ben Bowers, Nina Desai, and Duwayne Sibley discuss the One Big Beautiful Bill Act, focusing on its implications for taxpayers, including changes to tax deductions, R&D expensing, and new incentives for manufacturers. The conversation highlights the importance of understanding the various provisions and deadlines associated with the legislation, providing insights into how individuals and businesses can optimize their tax strategies moving forward. Takeaways The One Big Beautiful Bill Act impacts individual taxpayers and businesses alike.Continuity and stability in tax provisions are key themes of the legislation.The state and local tax deduction cap has been expanded for certain taxpayers.Charitable contribution rules have been updated, allowing some deductions for non-itemizers.New deductions for tips and overtime are available for lower to middle-income workers.R&D expenses can now be fully deducted starting in 2025 for domestic expenses.Changes to the R&D tax credit include a requirement for expenses to be Section 174 expenses.100% bonus depreciation is reinstated, with specific rules for acquisition and service dates.Manufacturers can benefit from new incentives to write off buildings, but there are strict definitions and requirements.Attention to deadlines is crucial for maximizing benefits under the new tax laws.Chapters 00:00 Introduction to the One Big Beautiful Bill (OB3) 03:08 Continuity and Stability for Taxpayers 08:11 State and Local Tax Deduction Changes 10:47 Charitable Contribution Rules Update 14:07 New Deductions for Tips and Overtime 17:53 R&D Expensing Changes Under OB3 22:09 Impact of Section 174 on R&D Credit 24:40 Understanding Changes to the R&D Tax Credit 28:51 Exploring Bonus Depreciation Rules 33:36 New Incentives for Manufacturers 40:16 Additional Changes in Depreciation and Expensing 🔗 Learn more: btcpa.net | Follow Bennett Thrasher for more conversations that move business forward.

    45 min

  7. 12/15/2025

    Going Global with Confidence: How BT Guides Transfer Pricing Success (Part 2)

    In Part 2 of this conversation, Shardae Layfield hosts Abbas Raza and Kyle Ergle to discuss the complexities of transfer pricing, focusing on the strategic and operational challenges businesses face. They explore the determination of service fees, the importance of accurate cost calculations, and the scrutiny from tax authorities. The discussion highlights common pitfalls companies encounter, the consequences of improper transfer pricing, and best practices for compliance to avoid penalties. Takeaways ·       Not all services are created equal in transfer pricing. ·       Service fees should include all direct and indirect costs. ·       Shared services complicate cost allocation across entities. ·       Tax authorities prioritize intercompany service agreements. ·       Common mistakes include not charging service fees and mischaracterizing services. ·       Documentation is crucial for compliance and defense against penalties. ·       Penalties can arise from improper transfer pricing practices. ·       Companies should maintain arm's length standards in transactions. ·       Clear policies and benchmarking are essential for compliance. ·       Support and proper documentation are key to successful transfer pricing.    Chapters 00:00 Understanding Transfer Pricing Fundamentals 04:31 Calculating Service Fees and Markups 10:02 Navigating Tax Authority Evaluations 13:48 Common Pitfalls in Transfer Pricing 19:03 Consequences of Improper Transfer Pricing 23:34 Best Practices for Compliance 🔗 Learn more: btcpa.net | Follow Bennett Thrasher for more conversations that move business forward.

    27 min

  8. 12/15/2025

    Going Global with Confidence: How BT Guides Transfer Pricing Success (Part 1)

    In this 2-part episode of Beyond the Ledger, host Shardae Layfield discusses the complexities of transfer pricing with experts Abbas Raza and Kyle Ergle from Bennett Thrasher. The conversation begins with a foundational understanding of transfer pricing, its significance in inter-company transactions, and the compliance challenges businesses face. The discussion then delves into the specifics of inter-company services transactions, including the benefits test that determines whether a service provides value. Finally, the experts outline the methods for pricing these transactions, emphasizing the importance of arm's length pricing and the various strategies businesses can employ to ensure compliance and efficiency in their operations. Takeaways ·       Transfer pricing involves related party transactions where value is transferred. ·       The transfer price is determined by the entity itself, not market forces. ·       Understanding the arm's length standard is crucial for compliance. ·       Inter-company services must provide a benefit to be compensated. ·       The benefits test helps identify valid inter-company service transactions. ·       Transactional methods offer higher comparability than profit-based methods. ·       Cost plus a markup is a common pricing strategy for services. ·       Businesses must ensure they are not duplicating services across entities. ·       Finding suitable comparables is essential for determining arm's length pricing. ·       Compliance with transfer pricing regulations is vital for avoiding costly pitfalls. Chapters 00:00 Understanding Transfer Pricing: The Basics 04:40 Inter-Company Services: What Counts? 11:10 Pricing Inter-Company Transactions: Methods and Strategies 🔗 Learn more: btcpa.net | Follow Bennett Thrasher for more conversations that move business forward.

    16 min
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Explore “Beyond the Ledger,” Bennett Thrasher’s podcast where advisors and industry leaders look past the numbers to uncover the strategies, risks, and opportunities shaping today’s businesses. Each episode delivers timely insights across tax, advisory, and technology to help provide clarity through confident advisement.

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