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Isaac M. O'Bannon

Managing Editor

isaac.obannon@cpapracticeadvisor.com

Isaac M. O'Bannon is the managing editor and digital content manager for CPA Practice Advisor (www.CPAPracticeAdvisor.com), drawing on two decades of experience covering the areas of professional accounting, taxation, business productivity and consumer technologies. Prior to CPA Practice Advisor, O'Bannon was a consultant at firms in San Francisco, Denver and Tulsa, serving clients that included Logitech, Polycom, Hilti, Microsoft, the Stanford Research Institute, the University of Oklahoma's College of Engineering and other technology leaders. He is a U.S. Navy veteran. Email: isaac.obannon - @ - cpapracticeadvisor.com

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Small Business

2014 Innovation Awards Announced in L.A.

CPA Practice Advisor’s 11th annual Tax and Accounting Technology Innovation Awards were presented on Monday evening during a reception at the California Accounting and Business Show in Los Angeles. The big winners: Web-based and mobile tools that help firms and their small business clients streamline financial management and compliance tasks.

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Firm Management

Honoring Innovation: 2014 Awards Spotlight Mobile Technologies

Technology is rapidly advancing in our everyday lives as well as in our professional careers, but finding the solutions that have the greatest impact on productivity and, ultimately, profitability can help a firm thrive.

Income Tax

IRS Releases Spring 'Statistics of Income' Bulletin

The Internal Revenue Service has released the spring 2014 issue of the Statistics of Income Bulletin, which provides information on high-income individual income tax returns filed for tax year 2011.

Accounting

Thomson Reuters and Bisk to Offer Full-Day of CPE Webinars

Thomson Reuters will be offering two new, full-day tax and accounting and auditing webinars presented by Bisk CPEasy in June, July, and August.

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Benefits

Take It or Leave It? Several Factors Impact Retirement Plan Rollovers

When a worker changes jobs, what do they do with their 401(k) or other employer-based retirement savings? That's a question of increasing interest and concern to policymakers and employers alike.

Income Tax

Energy Tax Specialist Explains Clean Energy Tax Incentives

The ITC is not simply a deduction, explained Parker. It is a tax credit good for up to 30% of the cost of the project, and is often an incentive that can only be enjoyed by entities with substantial passive income and a large tax appetite. Passive losses can only be offset by passive income.

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Accounting

GASB Moves to Improve State and Local Government Health Insurance and Benefits Reporting

The Governmental Accounting Standards Board (GASB) has voted unanimously to approve two Exposure Drafts proposing significant improvements to financial reporting by state and local governments of other postemployment benefits (OPEB), such as retiree health insurance. The GASB also approved a third Exposure Draft that would establish requirements for pensions and pension plans that are outside the scope of the pension standards the GASB released in 2012.

Accounting

IASB and FASB Jointly Set New Revenue Recognition Standard

The standard will improve the financial reporting of revenue and improve comparability of the top line in financial statements globally. Revenue is a vital metric for users of financial statements and is used to assess a company’s financial performance and prospects. However, the previous requirements of both IFRS and U.S. GAAP were different and often resulted in different accounting for transactions that were economically similar.

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Sales Tax

Infographic Shows Sales Tax Holidays Across U.S.

Sales tax compliance is one of the most volatile issues that many businesses have to deal with, with more than 8,000 taxing jurisdictions across the country. From the state and county-level, to cities and special purpose zones like metro transit authorities.

Accounting

Forbes Magazine Ranks Xero as #1 Most Innovative Growth Company

Cloud accounting software vendor Xero has been chosen by Forbes Magazine as the top company in it's list of the World's 100 Most Innovative Growth Companies.

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Accounting

Thomson Reuters Launches Blog to Help Firms Increase Revenue

Thomson Reuters kicked off a new blog series today that will show UltraTax CS users how to enhance client relationships and generate additional revenue by using data mining capabilities within the software.

Human Resources

4 in 10 Workers Don't Use All Their Vacation Days

As summer approaches, employees are busy planning long-awaited vacations. But a new Robert Half survey shows 39 percent of workers won't use all the paid vacation time they're given. The reasons: 38 percent are saving days in case they need them later, while 30 percent fear falling behind at work.