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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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Income Tax

IRS Still Improperly Handling EITC Payments

The Earned Income Tax Credit (EITC) is one of the most widely-used credits by U.S. taxpayers, it's also often mis-used and even thought the Internal Revenue Service has been scolded for its poor management of the EITC, the agency is still lacking.

Accounting

IASB Issues Amendments to Property, Plant and Intangible Asset Accounting Standards

The IASB has clarified that the use of revenue-based methods to calculate the depreciation of an asset is not appropriate because revenue generated by an activity that includes the use of an asset generally reflects factors other than the consumption of the economic benefits embodied in the asset.

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Firm Management

Accounting Firm Named One of the Best Places to Work

It's not a Big 4 firm, but Crowe Horwath LLP is gaining major recognition, being named as one of the best places to work in the U.S. and by local programs in Florida, Georgia, Illinois, Kentucky, Michigan, New Jersey, Ohio and Texas as well.

Accounting

AICPA Applauds Passage of DATA Act by Congress

“This is an important day for the American taxpayer,” said AICPA President and CEO Barry C. Melancon, CPA, CGMA. “By signing the DATA Act into law, President Obama has paved the way for implementation of a system that will allow each and every one of us to more easily track federal spending data.”

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Payroll

Mother's Day - Mom's Work Valued at $63k Per Year

Moms are irreplaceable, of course, but how much is a mom's labor worth? Let's hope the IRS doesn't figure out a way to tax it.

Income Tax

Small Business Week: IRS Spotlights Healthcare Tax, Home Office Deduction

The IRS will be holding two free webinars for small businesses and encouraging them to check out several key tax benefits and a special relief program for employers who reclassify their workers as employees.

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Accounting

Florida, Texas and California Lead in Job Growth

The most populous states in the country topped the list in job growth during April, according to the latest Regional Employment Report from payroll and human resources technology provider ADP.

Automation

Bitcoin Goes Legit

One of the leading developers of online sales and use tax automation software has developed the first such system to support bitcoin and other virtual online currencies.

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Accounting

Toolkit Helps Professionals Promote Internal Audit Awarness Month

The Institute of Internal Auditors is encouraging accounting professionals, organizations and firms around the world to take part in promoting International Internal Audit Awareness month.

Accounting

Ranking the Best and Worst Small Business Credit Cards

Even though Congress passed fairly consumer-friendly reforms with the 2009 Credit Card Act, which included banning bait-and-switch pricing, usurious interest rates and other shady practices, small business credit cards were not included in the act's reform measures.

Do You Know the Foreign Bank Reporting Regs? Enter the FBAR Contest

A Los Angeles tax attorney and his firm have announced a new contest that will test people's knowledge of the Foreign Bank and Financial Accounts Report (FBAR) rules as they apply to U.S. taxpayers. The contest is open to anyone who is not a tax attorney, which means yes, CPAs and other tax professionals are eligible.

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Accounting

Book Offers Small Business Owners a Toolbox for Growth

In his new book, Business Techniques for Growth: More Tools for Small Business Success, veteran executive and small business advisor Tom Gray distills decades of experience into a series of proven techniques that can help any small business owner succeed.