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In This Issue
Received a request from the IRS to verify your identity (Letter 5071C)? Learn the best way to respond here.
Best Employers in NC
BRC was proud to be recognized this month by Business North Carolina magazine as one of the Best Employers in North Carolina. Read more

BRC in the News
BRC was featured in DFK News this month. Read more.

Best Accounting Firms to Work For
BRC is proud to be consistently recognized as one of the Best Accounting Firms to Work For. Read more.
Noteworthy Links
US Hits Statutory Debt Limit 
Retirement Income Gap Projected at $7.7T
Why Sleep is a Strategic Resource 
March 2015 
Compliance Matters

Rhonda Skiles image Are You Complying with Filing Requirements for Employee Benefit Plans?

By Rhonda Skiles 


Employers offering retirement and welfare benefit plans to employees are ultimately responsible for ensuring that annual filing requirements are met. This fiduciary responsibility is not abdicated by utilizing a third party administrator. The Department of Labor requires a Form 5500, Annual Return/Report of Employee Benefit Plan, be filed for most retirement and welfare benefit plans meeting certain criteria. 

There are specific rules and thresholds related to filing that employers should know. Read more.  

Affordable Care Act Update
Do You Reimburse Your Employees' Insurance Premiums? We Have Some News For You!
By Tracey Flynn Martin, CPA, Partner
Small employers are no longer allowed to offer employee payment plans reimbursing employees for the cost of obtaining individual health insurance. Because these plans violate parts of the Affordable Care Act, those employers found not complying will face penalties. However, in February 2015, the IRS issued Notice 2015-17 to provide some relief during this transition and shed some light on confusion resulting from previous IRS guidance. Read more.
Recognizing Your Unique Needs
Compilation, Review or Audit - What's Best for Your Company? 
by Ben Ripple, CPA, Senior Manager 


Before spinning your wheels determining whether to have a compilation, review or audit, make sure you have a choice. Often, investors, regulatory bodies and other parties with financial interests in an entity will dictate what is required. These requirements can be communicated in statutes, contracts, and agreements. If you do have a choice, carefully consider the reasons for and uses of your financial statements in determining which service is right for you, remembering that the financial statements are management's statements (not the CPA's) in all three cases. Below is a high level analysis of the choices. Read more.

*****SAVE THE DATES *****

An information-packed full day of relevant information for financial executives, we bring you this event annually each fall. Our slate of sessions will include such topics as tax updates and strategic planning advice, the latest information you need to remain compliant with the Affordable Care Act, what you need to know to protect your company and clients and more. Please mark your calendar to plan to join us:
  • Greensboro: Tues. 10/27/15 | Starmount Forest Country Club, 1 Sam Snead Dr, Greensboro, NC 27410, (336) 299-0425
  • Raleigh: Thurs. 10/29/15 | Research Triangle Conference Center | 12 Davis Drive, Research Triangle Park, NC 27709, (919) 549-8181
  • Winston-Salem: Announcing soon!

Bernard Robinson & Company | (336) 294-4494 | [email protected] |
1501 Highwoods Blvd, Ste 300
Greensboro, NC 27410
BRC Strategy is designed to provide information of a general nature and is not intended as a substitute for professional consultation and advice.  The opinions and interpretations expressed should not be construed or used as legal or tax advice, written or otherwise, and cannot be used for the purpose of avoiding any penalties that may be imposed under federal, state or local law.