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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

Many Retirees Plan to Return to Workforce in 2025

Key reasons behind this decision include the increasing cost of living (69 percent), boredom (42 percent), rising housing costs (39 percent), and the need to pay off non-medical debt (34 percent).

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Payroll

Survey Says 43% of Workers with Side Jobs Make More in Fewer Hours

Younger generations are even more likely to report this surprising outcome, with 50% of Gen Z and 48% of millennial respondents saying they work side hustles for fewer hours while making more money, compared to 34% of Gen X and Boomers.

Xero to Acquire Analytics and Reporting Company Syft

Xero Limited is acquiring Syft Analytics, a global cloud-based reporting, insights and analytics platform for accountants, bookkeepers and small businesses.

Advisory

Riveron Partners with Effectus Group, Expanding West Coast Presence

Both firms are adept at supporting client organizations through transformation and growth—across the venture capital and private equity arenas, IPO readiness, and beyond.

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Financial Reporting

Report Shows How Finance Teams are Handling AI, Skill Gaps, Data Integration and ESG

The report analyzes data integration challenges, the rise of artificial intelligence (AI), essential shifts in cloud computing, and the ongoing impact of staffing and skills challenges across the finance and accounting sectors.

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Taxes

IRS Issues Proposed Regs on Tribal General Welfare Benefits

Comments may be submitted through the Federal Register. Tribal leaders may also submit comments through the Tribal consultation process.

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Small Business

Retail Sales Grew in August as Inflation Decreased

Total retail sales, excluding automobiles and gasoline, were up 0.45% seasonally adjusted month over month and up 2.11% unadjusted year over year in August, according to the Retail Monitor.

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Taxes

IRS Offers Tax Deadline Extensions for Louisiana Due to Hurricane Francine

These taxpayers now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments.

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Small Business

Avalara and Oracle Expand Embedded Partnership to Support Global Tax Compliance

The Avalara Global Turnkey Tax Activation's touchless automation simplifies and reduces months of data cleansing and imports down to a few hours.

Technology

AI is Pushing the Boundaries of B2B Order-to-Cash Operations

83% of respondents indicate that digital transformation across their order-to-cash processes is critical to their organization's survival vs. 77% in a 2023 survey.

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Firm Management

Georgia Society of CPAs and Feeding Georgia's Accounting Food Fight Raises $347,000 for Food Banks

The Georgia Accounting Food Fight is timed each year to restock the food banks after the summer surge they experience due to the conclusion of the school year (and school lunch assistance programs).

Payroll

Teacher Pay Increased in 2023, But Still Lags Other College Graduate Professions

The average weekly wage of teachers has been falling behind that of other college graduates since 1996–when the teacher pay penalty was 6.1%–and more so since 2014.