Cherry Bekaert Acquires Tax Advantage Group

Richmond, Va.-based Cherry Bekaert (FY19 net revenue of $219.7 million) has announced the acquisition of the Tax Advantage Group (TAG) of Greenville, S.C. The consulting firm specializes in New Markets Tax Credit (NMTC) services.

TAG will now operate as Tax Advantage Group by Cherry Bekaert. Six professionals will join Cherry Bekaert’s credits and incentives practice.

TAG has secured over $1.7 billion in NMTC funding. TAG also offers compliance and asset management services through a series of proprietary processes. TAG professionals work with NMTC allocation applications, NMTC placement and deployment, and NMTC compliance and asset management services.

“The addition of TAG aligns with the firm’s strategic growth vision to enhance our value-added specialty tax offerings,” says CEO and MP Michelle Thompson. “TAG has a long track record of creating a substantial economic impact and making a difference for those that live and work in communities across the U.S.”

Tammy Propst, founder of TAG and now managing director with Tax Advantage Group by Cherry Bekaert, says, “This combination provides the opportunity to expand the economic impact we can have on the communities we care about.”

Cherry Bekaert says TAG has structured and facilitated NMTC investments that have created more than 14,500 direct jobs, served more than 489,000 clients, and helped create over 7.1 million square feet of new and improved commercial and industrial real estate.

Tax Advantage Group by Cherry Bekaert will operate from the firm’s Greenville office.

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