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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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Technology

Midmarket Businesses Face Challenges Implementing AI

Most middle market organizations are adopting AI (78%) and generative AI (77%). However, 54% of those using generative AI find its deployment more challenging than anticipated.

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Payroll

Hourly Wages Grow at Small Businesses

“Hourly earnings growth increased to 3.34% in April, ending a decline that began in mid-2022.”

Firm Management

EisnerAmper Acquires Boston-Based Edelstein

Edelstein offers accounting, tax and advisory services for the food and beverage, healthcare, financial services, nonprofit, real estate, professional services, and other sectors.

Firm Management

Maryland Accounting Firm SKMB Joins Marcum

The combination brings SKMB’s talented team to Marcum, including two senior advisors and their associates with extensive experience in accounting, assurance, tax services, and business valuations.

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Payroll

U.S. Added 192,000 Jobs in April, Wages Up 5 Percent, Says ADP

The ADP National Employment Report is an independent measure and high-frequency view of the private-sector labor market based on actual, anonymized payroll data of more than 25 million U.S. employees.

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Taxes

Disaster Preparation: IRS Reminds to Safeguard Your Info

Original documents such as tax returns, Social Security cards, marriage certificates, birth certificates and land ownership documents need to be secured in a waterproof container in a safe space.

Avantax

Firm Management

Avantax Acquires Integrated Tax & Wealth Strategies’ $760 Million Wealth Management Business

Integrated Tax & Wealth Strategies’ founder – highly successful independent financial advisor Brian Stephens – will continue with the tax practice.

Accounting

Financial Accounting Foundation Seeks Nominations for the Financial Accounting Standards Advisory Council

The Board of Trustees of the Financial Accounting Foundation (FAF) is seeking nominations for new members to join the Financial Accounting Standards Advisory Council (FASAC) for an initial one-year term beginning January 1, 2025. The FASAC is the primary advisory body to the Financial Accounting Standards Board (FASB). The FASAC consists of approximately 35 members who represent a broad cross section of the FASB’s constituency. Its primary function is to advise the FASB on issues related to projects on the FASB’s agenda, possible new agenda items, project priorities, procedural matters that may require the attention of the FASB, and other matters as requested by the FASB chair. FASAC members are appointed by the FAF Trustees for an initial one-year term and are eligible to be reappointed for three additional one-year terms.

Firm Management

CohnReznick and Prevedere Forge Strategic Alliance

This collaboration will leverage Prevedere’s AI-powered platform to empower CohnReznick's clients with global data, analytic models, and econometric context to revolutionize their business planning.

Firm Management

Fieldguide Launches Analytics Solution for CPA Firm Decision-Making

With the industry-wide talent shortage, firms are seeking to be smarter and more vigilant with their engagements, resources, and client metrics.