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In This Issue
Thank You!
A big, hearty THANK YOU to our clients for allowing us to advise and serve you. We appreciate your generous referrals, which continue to be our number one source of new business. - Wade Pack, CPA, Managing Partner

Noteworthy Links
True Value: 5 New Skills Required of Every CFO
CPAs Select Security As Top Technology Priority
The Cheap, Convenient Cloud
IRS Issues Additional PPACA Guidance on Identifying Full-Time Employees
Overview of the Federal Budget
Your BRC Team
With the official conclusion of "busy season" this month, we reminisce about the seasonality that so often defines our business and reflect on the importance of all of the cogs in our wheel... We are truly thankful for each member of Team BRC and the opportunity to work with you - our dear clients and friends! Below are photos taken at the BRC End of Busy Season 2015 Party ...

April 30, 2015 
Forward Thinking
Planning for the Greatest Return on Your Business Investment
by Freddy Robinson, CPA, Partner 
According to a recent article in the Harvard Business Review (1), four million privately-held businesses will change hands over the next two decades as baby boomers, the largest group of owners in these companies, continue to retire. The article goes on to suggest that an exit plan is not in place for a reported 75% of these owners. This large supply will surely create downward pressure on pricing in the market. some have event referred to this as a "Seller Tsunami".
It is common for business owners to be so caught up in the day-to-day activities of their business that they do not take the time to truly plan for succession. Under any conditions, a buyer would pay for this lack of preparedness through reduced profits at the closing table. However, they will likely suffer more if they sell during this storm. Read more.
ACA Update
Attention Nonprofit Organizations - Was Your Tax-Exempt Small Business Health Care Tax Credit Smaller Than Expected?
by Tracey Flynn Martin 

According to the Internal Revenue Service, small tax-exempt employers who are eligible for and claiming the refundable portion of the Small Business Health Care Tax Credit for 2014 will see a 7.3 percent reduction in their credit due to sequestration. This applies to all credits processed between October 1, 2014 and September 30, 2015, regardless of when the original return was received by the IRS. If you fall into this category, you will receive written notification that a portion of your requested payment was subject to the sequestration reduction. Read more.
Accomplishing More with Less
How We Cut Our Monthly Cost of Offsite Backup By 85% Without Buying New Backup Software
by Bill Ellis, CPA, Director of Information Technology

A year ago, we were paying a vendor to store copies of our encrypted backup files in an offsite data center. This system was setup some years ago, and over the years, cloud storage costs became cheaper, but the middle-man didn't pass along the savings to us. Our backup footprint and monthly cost steadily grew larger. We owned, and were happy with our onsite backup appliance and software, which allowed us to replicate files to a local drive, a feature we had never used before.

Amazon's AWS is the hundred pound gorilla in Enterprise Cloud services, and while playing around with their "free tier" we discovered their Storage Gateway product. Read more.
How to Best Verify Your Identity With the IRS
The Fastest, Easiest Way to Conform with an IRS Identity Verification Request 
by Natasha Jordan, CPA, Supervisor

If you've received an Identity Request Letter, 5071C, from the IRS, they suspect that identity theft may have occurred related to your information. (Note: You would only be contacted via US Mail with this letter initially.) 

The steps to follow to ensure timely processing of your return include:
  • Go to and complete the questions utilizing the following:
    • name, date of birth and contact information
    • Social Security Number or Individual Taxpayer Identification Number and
    • your prior and current year filed tax returns with supporting schedules and documents.
  • If you experience difficulties, you can call the Identity Verification department phone number included in the letter. is a secure, IRS site. When assessing whether an IRS site is real, always look for a URL ending with ".gov", as opposed to ".com", ".org", ".net" or other nongovernmental URLs.
Save the Date!

BRC Financial Symposium - 

3rd Annual


We hope to see you again this year! Want more coverage of a certain topic or issue? Interested in hearing from someone specific at BRC or in the community? We want to know. - Paula McMillan, Director of Marketing & Practice Development ([email protected] / 336.232.4422)



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.