Payroll
U.S. Labor Dept. Expands Overtime Rules to 4 Million More Salaried Workers
The salary threshold will increase from its current $35,500 per year to $43,888 on July 1, 2024, then to $58,656 on Jan. 1, 2025.
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
75% of Mid-Market Companies Say They Will Invest in AI Over Next 5 Years
The majority of mid-market businesses are planning to invest in machine intelligence to improve efficiency.
Firm Management
Minnesota Accounting Firm Joins CLA Global
Christianson PLLP joined has joined CLA Global Limited (CLA Global), an organization comprised of independent accounting and advisory firms.
Financial Reporting
Survey Shows Divide Among Finance Pros When it Comes to the Future of Finance
60% of accounting and finance professionals surveyed say they identify as finance business partners, and 84% of those are extremely optimistic about the future of the profession.
Accounting
Illinois CPA Society Announces 2024 Outstanding Leadership Award Recipients
ICPAS will formally present awards to the honorees at the Leadership Recognition & Awards Dinner in Chicago on June 13, 2024.
Financial Reporting
Uncat Launches Uncat Receipts for Expense Management
Clients can submit receipts via web, email, or text message, providing flexibility and convenience.
Firm Management
RSM Appoints Ernest Nedder, CPA, as CEO
Over his career, Nedder has developed extensive experience in leading substantial business and digital transformation initiatives, aligning separate service lines, industry verticals and...
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Accounting
AICPA Endorses Bipartisan Legislation to Provide Additional Tax Relief to Victims of Natural Disasters
Under current law, taxpayers affected by a major disaster often have less time to make a refund or credit claim than those who are not affected.
Nonprofit
Only 36% of Not-for-Profits Have Seen an Increase in Funding Following 2022-23 Financial Upheaval
This is a slight improvement over 2023 where only 24 percent of organizations saw an increase in funding while 35 percent saw a decrease.
Auditing
AuditBoard Expands Executive Team to Support Continued Rapid Growth
AuditBoard has brought on public SaaS company veteran Jeff Harper as Chief Human Resources Officer (CHRO) to help scale the organization and infrastructure
Technology
75% of Mid-Market Companies to Invest in AI Over Next Five Years, According to Wipfli Survey
The survey sheds light on the evolving landscape of technology investments and workforce dynamics among these businesses, providing valuable insights into their strategies and challenges.
Taxes
AICPA: Clarification Is Needed for Form 990 Series
The AICPA’s comments also include a matrix for the Form 990 series which focuses on specific sections and the recommendations for those sections.