How To Turn $2,000 Into $5 Billion Tax-Free

In this episode, we dive into the brilliant tax avoidance strategy Peter Thiel used to amass a $5 billion in a Roth IRA so that it will never be taxed, and also examine why Bobby Bonilla's "exit" strategy wasn't so brilliant. We asked, and you answered! We've got voicemail about why accountants chose to not take the CPA path. In acquisitions, VISA bought Tink, and in app news, we've got an overview of QuickBooks Online updates for June, and new accounts receivable management features from Wave, Venmo's updated pricing policies, and more!

Show Notes

1:20 – David is LIVE (well, recorded) from the brand-new Accounting Podcast Network recording studio! Check out our Instagram for a pictorial view -@cloudacctpod 

2:20 – Welcome to all our new listeners from the BKX conference!  
 
5:45 – SuiteWorld will be back in Las Vegas - insightfulaccountant.com
https://www.intuitiveaccountant.com/accounting-tech/vendor-news/suiteworld-will-be-back-in-las-vegas/
 
6:15 – Find all the latest, greatest accounting conference news here: AccountingConferences.com
 
8:10 – How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank — ProPublica
 
10:25 – ProPublica Tells Only Half the Story on Taxes
 
11:38 – Antivirus software pioneer John McAfee dies in prison
 
26:00 - Bobby Bonilla Day
https://www.npr.org/2021/06/25/1010404697/bobby-bonilla-day

Bobby Bonilla Day: 10 other athletes who are getting big checks from deferred payments 
 
28:47 – Listener Voicemails – Why I didn’t get a CPA. Thank you, Mr. Three Cents, and Carla (sp?) from Lewisville, TX! 
 
35:04 – The Accounting Profession Is Running Low on CPAs, But There’s an Obvious (and Completely Ignored) Fix For That
 
41:13 – Visa Buys Swedish Fintech Tink for More Than $2 Billion
 
Visa Acquiring Swedish Open Banking Platform Tink
 
42:31 – What’s new in QuickBooks Online: June 2021
 
45:20 – H&R Block’s Wave unit plans new AR abilities
 
47:58 – Announcing the first payroll products built on Check - Check
 
50:14 – Tech news: FloQast releases request management tool for monthly close, and more
 
51:40 – Venmo Is About to Get More Expensive for Millions to Use
 
56:40 – This Bachelor Fan Figured Out Who Won Colton Underwood’s Season With Venmo
 
57:33 – PwC Restructures for Future of Bots, Post-Covid Advisory Boom
 
58:29 – Deloitte tells its 20,000 UK employees they can work from home foreverhttps://www.independent.co.uk/life-style/deloitte-work-from-home-employees-b1868977.html


Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040


Need Accounting Conference Info? 

Check out our new website - accountingconferences.com


Limited edition shirts, stickers, and other necessities

Subscribe

Accounting Podcast Network: https://accountingpodcastnetwork.com/

Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd  

Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the show notes for the link to get more info.

Full Transcript Available Upon Request - info@cloudaccountingpodcast.com

Join our newsletter!

Get notified about new episodes and other updates from Blake and David

Got it. You're on the list!
Podchaser - Cloud Accounting Podcast

Copyright © 2020 Blake Oliver