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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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Payroll

Report: Small Businesses Continue to Add New Jobs in January 2024

January marks the 34th consecutive month of job growth for U.S. small businesses. Wage growth for workers continues to stabilize in the new year with hourly earnings growth remaining essentially unchanged since November at 3.47%.

Accounting

Accounting Students from University of Nebraska Win 2024 Deloitte FanTAXtic Competition

This year’s case challenged teams to provide advice on how to structure a new business entity and help determine whether they should operate the venture as an S corporation or a C corporation.

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Accounting

Nearly 40% of CFOs Don't Completely Trust Their Financial Data

When asked what would help their company respond to business disruption, CFOs said one of the most important factors would be the ability to access and analyze financial data in real time.

Accounting

Acumatica Cloud ERP Previews Advanced Product Features During Day 2 of Summit 2024

The company previewed new features and capabilities that will launch in the 2024 R1 product release – with the beta of 2024 R1 now available to Acumatica customers.

Small Business

U.S. Sales Tax Rate Changes Hit 10-Year High

In 2023, businesses faced 444 sales tax rate changes spanning state, county, city and district jurisdictions, marking a 17% rise from last year's combined rate changes. This surpasses the former record of 412 rate changes witnessed in 2017.

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Small Business

Valentine's Day Retail Sales Expected to Set Record

The top gifts include candy (57%), greeting cards (40%), flowers (39%), an evening out (32%), jewelry (22%), clothing (21%) and gift cards (19%).

Taxes

IRS Starts Accepting Returns and Extends Hours at Tax Assistance Centers

2024 Tax Refund Calendar: How to Estimate When You May Receive Your Refund.

Taxes

Florida Tax Preparer Gets Prison for False Returns and Online Romance Scam

Between 2015 and 2020, Coates claimed $228,788 in tax refunds on her individual federal income tax returns by falsely reporting that taxes had been withheld from her income and had been paid to the IRS.

Accounting

HubSync Launches New R&D Tax Credit System for CPAs

The R&D Tax Credit product reduces the time and resources required to compile supporting data and documentation for these claims.

Firm Management

Grant Thornton Names Alley-Oop Kids as Purple Paladin

As part of the program, Grant Thornton provides funding, business advice and volunteer support, while also helping nonprofits raise awareness of their work and mission.

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Payroll

84% of U.S. Employers Plan to Change Leave Programs in Next Two Years

Attraction and retention strategies are the top driver for making changes to paid leave, time off or disability programs, cited by almost three-quarters (73%) of employers that have made or plan to make changes to their leave programs.

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Payroll

Less than Half of Americans Can Afford a $1,000 Emergency Expense

When asked how a sudden loss in income or employment would impact their finances, nearly two-thirds (66%) are worried they would not be able to cover their immediate living expenses over the next month.