Displaying episodes 1 - 30 of 258 in total
Intuit secures naming rights to Clippers arena — for half a billion dollars! Meanwhile, some MailChimp employees aren't happy about the Intuit acquisition. Also, private equity is investing in more accounting firms, KPMG Australia gets lauded for cheating on ethics exams, why work takes so long in your firm, some lengthy PPP fraud sentences, the Elizabeth Holmes / Theranos trial begins, Xerocon 2022 is in the calendar, Toast plans for IPO, Zoom is investing $30 million in Neat, Chewy is building vet practice management, Rewind and Melio raise $$$, ADP adds vaccination status tracking, nobody (relatively speaking) is using Apple Pay, and more
Results of the Drake Software 2021 tax preparer survey, EisnerAmper bails on traditional CPA firm model (and even being a CPA firm), KPMG UK sets diversity targets for working class backgrounds, vaccine mandates at the Big Four, Caleb Newquist's thoughts on why the IRS is looking into regulating tax return preparers, Facebook is buying $100M of unpaid invoices, Amazon is launching a point of sale, what's new at Quicken, Clio makes acquisitions, Notion is buying an automation/API company, and Expensify offers cash back
We've got a metric ton of news packed into this week's episode, including the rumor that Intuit is buying Mailchimp for $10B, Xero Tax in the UK gets personal, and there's talk about a digital driver license is coming to an Apple device near you! In app news, Neat releases NeatBooks, FreshBooks updates, Square announces a subscription invoicing product, Vic.ai raises $$$, Canopy integrates with QBO, and BakerTilly is set to acquire AcctTwo. We'll take a look at how Deloitte turned Simu Liu into a superhero, as well, and so much more!
Is it too hard to become a CPA? Also, most companies continue to struggle to hire workers, we investigate the ROI of an accounting degree versus your other options, how to get an entry level job that requires 3 years of experience, Intuit's new bookkeeping certification (and how you can use it in your firm), how a video resume could get you your next job, is Intuit building QuickBooks Payroll Live? Zoom updates, Pry raises $4.2 million, Ramp, Zeel, Flexio, and Synder join the party, and more!
We're kind of all over the place today, but it's well worth a listen or three! We've got a TikTok sorority future CPA's take on managing the millions that her sorority took in, why an interior designer loves doing bookkeeping, how to work two jobs at once, and PwC is (again) delaying return to office. We're diving deep on EY's launching of 150 credit hour effort - but we think maybe we should just cancel 150 hours). We'll also talk new suits, and how Ed Mendlowitz picked a fight with everyone in his recent blog post. We'll ponder over why fintechs are to blame for PPP fraud, and why accountants should audit AI companies, and it strikes again - the "Accounting Firm Xero." In app news, Blue J raises a bunch of money to add artificial intelligence to tax research, and Credit Karma integrates Money with QuickBooks Online. All this, and much more. Take a break from that second or third remote job, and have a listen!
Lots of ground to cover today, including why millions of PPP borrowers still haven't applied for forgiveness, what firms would have done differently this past tax season, news on a new infrastructure bill held up by crypto rules, and what closing date set for SVOG means. In app news, we'll examine why hundreds of AI tools developed to predict coronavirus infections failed miserably. Then in news of gigantic funding rounds, Gusto takes in a lotta cash, and FreshBooks (an accounting firm) has become a unicorn, raising $130M; Lockstep also got some cash. Moving on to upgrades, and the like, we're talking Xero, their app upgrade, and their collab with Revolut. We'll talk about how the IRS is using QR codes, take a look at the ZenBusiness Money launch, US Bank's purchase of Bento for Business, and Check's (the Stripe of payroll) new QBO integration. All that, more, and reviews from you! Thank you!
This week, we've got all the news that's fit to use, including a few interesting acquisitions, such as Square's acquisition of Afterpay. We're wondering why they didn't buy Xero instead. Also, Rootworks buys CPA Practice Advisor, and Dext snags Greenback to to make importing transactions even smoother. In app news, we're talking Windows 365, where you can now subscribe to Windows-in-a-browser-tab, and we'll look at Earth Class Mail's new Android app, some Xero updates to their App Marketplace, and app. It's a slow funding week, but Zeni raised $34 million. If all that info hasn't boggled your brain, we've got survey results on what's really killing productivity, and also how much stuff (like your company's data and passwords) do people hang on to when they move from job to job? Check it out!
Feeling dazed, and confused? We've got a lot of news this week to level you out! We're talking about our recent trip to AICPA Engage, the accounting knowledge super-spreader event of the year, and more accounting conference announcements. Then, we'll dive into all things SBA, and PPP. If that wasn't enough, we've got news on the IRA front, including updates on how IRAs are maybe being abused or misused, and how you can avoid paying taxes on crypto mining from inside of an IRA. We've got survey-related proof that texting with clients is a winning strategy, and we'll also talk about all the stuff that just doesn't f***ing matter to entrepreneurs (and how it can help you market better). If your mellow is still harshed, we've got news on Matthew McConaughey's investment in employee management & payroll app Homebase, and app news, including Xero's 11 hour outage, a new way to use apps in Zoom, FreshBooks updates, and Odoo's $215M raise. Clearly, you'll need snacks!
It's almost back-to-school time, so it's a good time to talk about how AICPA is trying to produce more accounting students by pitching high school guidance counselors on accounting careers. For the college kids, we'll talk about elite (non-accounting) masters degrees that cost six figures, and also, why it's a really bad reason for grads to work 12-hour days, 7 days per week. We'll also examine the sad state of accounting standards. In app news, Bill.com acquires Invoice2Go, Visa acquires CurrencyCloud, finance chiefs are still trying to replace Excel, and much more!
Ben Richmond CA is the Country Manager for the United States at Xero. He sat down with Blake and David in New Orleans to chat about what's been going on at Xero during the pandemic, what he's been up to, the impact on accounting firms, what's next for Xero, where and when the next US Xerocon will be, and much more
We're live from the Big Easy, and we're talking about Intuit dropping out of the IRS Free File program, as well as how a startup called Ivix aims to help governments catch tax evaders around the world. There's more voicemail feedback on the CPA issue, and in app news, Relay Financial releases advanced bill pay, accounting startup Proper raises $9 million to do the books for property managers, and we've got updates from Xero, QuickBooks, Apple, and more!
Today, in news of the less-than-intelligent, we're talking about how someone's meticulous bookkeeping skills may lead to the downfall of the Trump Organization CFO. We're also discussing an analysis of the Biden tax plan, and qualities that make a good accounting firm partner. Meanwhile, not shockingly, cash payments dropped during the pandemic. In app news, Gusto makes its second acquisition, and algorithms at Chime and Amazon are doing not-very-nice things to regular people. All this and more, right here, right now!
Blake Oliver and David Leary sit down (virtually) with Ted Callahan, the Global Accountants Leader at Intuit. He joins the podcast to discuss Quickbooks and the current state of Intuit Pro Advisors. They touch on how QB Live is helping to grow the entire bookkeeping space and the challenges Intuit is facing when building it. Ted explains how tags in QuickBooks Online will allow for chart-of-accounts standardization which will lead to machine learning at scale. Also discussed, recent QBO price changes, the TradeGecko sunset, upcoming Pro Advisor support changes, and some surprising news about #QBConnect.
We're covering all the bases today, from how Congress wants to regulate tax preparers, and why the Taxpayer Advocate again bemoans IRS service levels. In app news, Gusto is opening up payroll to other apps via their API, and we've got Xero updates for July, moves by ServiceTitan, and LegalZoom, and Canopy's latest $$$ raise. We'll marvel at how two companies managed to dominate PPP lending, and we'll get into the Robinhood-FINRA settlement and what it means for the future of the investment app. In other news, accountants are more likely to return to the office, even though most employees say they have too many meetings. We'll also talk about Colorado's new law that's causing trouble for workers seeking remote positions in that state. Grab a piece of real pie, and listen in!
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!
We've got a plethora of news today, including the reasons behind IMA's concerns about AICPA & NASBAs new accounting curriculum, and why accountants are passing on getting the CPA license. We'll cover some finer points about the SPAC atrocity known as Lordstown Motors, and then dive into app news, including Expensify's foray into payroll, some neobank news, Gusto's acquisition of Ardius for R&D tax credits, Intuit's final blow to TradeGecko, aka QuickBooks Commerce, and more!
We're covering a lot of ground this week, starting with a bill in Congress that would make accounting part of the STEM curriculum. We'll also look into the secret IRS files that leaked a wealth of billionaire tax info! If you're looking to relocate, we've got the list of the best cities for accountants, and we'll talk about the Microsoft Excel Esports Tournament! In app news, more raises from accounting software + services startups Osome, and Penny Lane. As if that weren't enough, we might talk smack about SPACs, and ponder the significance of accounting firms stepping into the fray. Finally, we're rounding out this episode with some thoughts on how technology is filling the labor gap, and how it relates to advisory pricing!
Liz Mason, CPA and CEO of High Rock joins the show! We're talking Arizona, today, specifically around the Maricopa County election audits, and we'll hear about some of Liz's insights into her own firms, and her work with Xero. We'll also talk about the PCAOB house-cleaning efforts. In app news, we've got a lot to talk about with the new, and not-so-popular QuickBooks pricing changes for ProAdvisors, and customers. We're taking a look at Bench's recent raise, and what it means for other providers. We've got a few surveys from Xero, Sage, and others, along with a listener voicemail, and a review! All this and more, right here, right now!
Blake Oliver sits down (virtually) with Jeffery Giavotella, one of Sage's Finance Futurists, who are a diverse group of finance leaders who have been recognized for driving innovation and showing leadership across the industry.
Lots of news today, including reasons why the Dems in the Senate want to change up the PCAOB leadership, and how KPMG relaxes remote work policies to relieve remote work fatigue. There's also news about ongoing PPP and stimulus fraud investigations, and we'll talk crypto for a bit, discussing China's central bank ban that prohibits other Chinese institutions from crypto, take a look at how the US Federal Reserve is dipping it's toes in the crypto water. There's a ton of app news, including updates from Canopy, Square, Avalara, Revolut, and much more!
Kristen Keats, CPA, founder of Breakaway Bookkeeping & Advising, joins the show to talk about busy season burnout, KPMG Canada's new foray into outsourced accounting with "KPMG Finance Plus," along with updates on the Restaurant Revitalization Fund, and Child Tax Credit expansion. We'll also talk about the AICPA's advocacy for tax penalty relief, whether or not the Biden IRS will come after your clients, Elizabeth Warren's opinions about the tax prep industry, the latest opportunities for automation in audit, and more!
We've got a lot to talk about today, including how accounting first-year salaries are on the rise, and what Kabbage did to become under investigation for PPP fraud. In raises, we've got news on Collective's $20 million raise (in part from Ashton Kutcher) to support conquering the S corp freelancer market, and Relay Financial's $19 million raise to support their modern banking services focused on the accountant's use case, while Lili raises a cool $55 Million for helping freelancers tackle their expenses, and access credit. We're also talking about employee engagement in light of WeWork's CEO's comments on the subject, and diving into the subscription-based world we now find ourselves in. All this and much more!
PPP is out of money and the IRS is out of ink for the printers. Meanwhile, Biden's plan to fund the IRS would also give the agency authority to regulate tax preparers. We review Accounting Today's list of top firms for technology, and pontificate on which tasks knowledge workers dread the most. In app news, Bill.com is buying Divvy for $2.5 billion, and Veryfi raises $12 million. Meanwhile, Chime can no longer call itself a bank, and FloQast has created a coloring book and a 12-minute guided meditation to relieve the stress our friends are caught up in during busy season. Ommmm.
Today, we're scaling back the tax talk, talking only about how Biden wants $80 billion for the IRS, and how non-GAAP is back, baby! Then, we move on to copious amounts of app news. We'll hit on the brief but heart-stopping QuickBooks Online Payroll outage, how Expensify is filing for an IPO, acquisitions, and raises, including the Stripe acquisition of TaxJar, and Brex's $425 million raise. We've got updates from Xero, and Square, and more!
Apparently April showers bring lots of accounting news! We've got the latest on the SBA's SVOG portal reopening, and legislation introduced to fix PPP loan inequity. We'll hit on more IRS news, including (quelle surprise) how the IRS is way behind on processing tax returns, why Biden's agenda relies on the IRS, one big 1099 change for gig workers, and why Florida finally started collecting sales tax from out-of-state sellers. In more random news, we're exploring Netflix's foray into training production accountants, the state of the workday, what the House passing a bill to create safe harbor for cannabis banking means, and your brain on Zoom. We'll also discuss the various reasons business owners want to hire bookkeepers (and how knowing that will help your marketing). If that weren't enough, we've got a plethora of app news for you to chew on, including integrations, investments, feature rollouts, and much, much more!
We just couldn't resist more talk about the IRS ... This week, we're examining how they may be losing up to $1 trillion per year due to tax cheats and a lack of tax collectors to go after them, and how the Biden budget might help, especially since a monthly Child Tax Credit is set to roll out this summer. In the shadow of Blake's discussion with AICPA's Ed Karl in Episode 22, we got lots of feedback from listeners expressing their frustration with the lack of answers! Meanwhile, the AICPA is protecting the CPA license from deregulation in West Virginia. In other news, ACH payments have a record quarter, PwC UK to allow 50% remote work, and there's more AICPA weigh-in on the subject of remote work. All that plus a ton of app news, including what's going on with Oracle NetSuite, a new niche app for truckers, and more!
Blake interviews Ed Karl, CPA & Vice President of Taxation at the Association of International Certified Public Accountants about Internal Revenue Service funding levels and the impact on both IRS service levels and the Tax Gap (the difference between what taxpayers should pay and what they actually pay on time). For years, service levels have been declining while the Tax Gap has been increasing, mostly due to unreported business income. A 2019 analysis by the IRS estimated that Americans report less than half of all income not subject to some form of third-party verification (such as a W-2). This year, unpaid federal income taxes could amount to more than $600 billion, and over the next decade, it could be as high as $7.5 trillion. Could increasing funding for the IRS help to solve both these issues? We discuss this and more in this in-depth interview.
Lots and lots of news today, including the latest on the SBA's SVOG fail, why stimulus checks can't arrive faster, when there is still $1.3 billion in stimulus waiting to be distributed to taxpayers, and more talk about the IRS's constant state of being underfunded, and backlogged. We'll examine the implications around China creating its own cryptocurrency, review the Facebook's Global State of Small Business Survey, and dive into reasons why CFOs are more optimistic. We've also got conference updates from David, assorted acquisitions and funding rounds, and much more!
Today, we're covering a wide range of topics, including why accounting needs to support #StopAsianHate, off-balance-sheet financing, and more on Pilot, who is now being described as the "AWS for SMB backoffice," and more. We're addressing listener mail, and Blake reveals his fixed/value pricing methodology, which he used in his own firm, and we'll talk about some solutions for accountants facing QuickBooks Online ACH woes, all this, and app news await you!
Get a run down of what's new with stimulus programs from our friend Justin Elanjian, CPA, including the Paycheck Protection Program, Employee Retention Credit, Shuttered Venues Operators Grant, and Restaurant Revitalization Fund.
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