Displaying episodes 1 - 30 of 232 in total

Ask AICPA: Is IRS Underfunded? Service Levels & The Tax Gap

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.

The IRS Is Infrastructure

The SBA has an SVOG fail. Why stimulus checks can't arrive faster. There is still $1.3 billion in stimulus waiting to be distributed to taxpayers. China creates its own cryptocurrency. Facebook's Global State of Small Business Survey. CFOs are more optimistic. Is the IRS underfunded? David's 2021 accounting conference rundown, and more!

Value Pricing Secrets Revealed

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!

Alphabet Soup Stimulus Update with Justin Elanjian, CPA

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.

Will Your Firm Survive Jeff Bezos?

We're marching out of this month with a discussion on what Jeff Bezos' investment in Pilot (now valued at a cool $1.2 billion) means for you. We've got some random facts, figures, and philosophies on why the IRS has such a hard time collecting money, and also check out India's new requirement for audit trails on all GLs. We'll look at why Slack, and Zoom want to keep us engaged, even when the COVID dust settles, although Slack is backing off of direct connections across orgs, and we'll also talk about how firms prefer to communicate with clients and prospects. In app news, Xero acquires e-invoicing company Tickstar, and we've got news on raises for BQE, and ServiceTitan, and BaCo Tech's new patent. All this and maybe a bit more! Enjoy!

May The 17th Be With You This Tax Season

Kerfuffles abound this week with stimulus payments going out, and small businesses starting to fully reopen. The federal tax deadline has been extended to May, but tax pros aren't happy about it. The PPP deadline is likewise extended. In app news, BDO partners with Xero, ProAdvisors are up in arms about having to pay higher ACH fees, and a production payroll startup takes aim at payroll for the entertainment industry. In education, a study shows that CPA education is lagging behind tech, and even the CPA exam. Lastly, we investigate what's more difficult — the CPA exam, or the bar exam? All this and more in our latest episode.

CPA Leaders Most Optimistic Since Pandemic

Today, we're talking about how economic confidence is recovering to near pre-pandemic levels for finance leaders. We've got exciting news about accounting conferences, including Scaling New Heights, and AICPA ENGAGE being rescheduled. We'll dig into Deloitte's role in the California unemployment debacle, the huge increase in demand for payroll services, and explore the advantage accountants have over architects. In app news, Lightspeed acquires Vend, $$ raises by Karbon, Autobooks, and Zeni (another software company that wants to automate your bookkeeping work), and a brief exploration of QBO's latest feature add. We'll round out the discussion with an examination of a new accountant-targeted app, Bookgel, which focuses on client acquisition.

PREVIEW: Accounting Salon Conversations

SPECIAL PREVIEW EPISODE: In this episode of the Accounting Salon Conversations podcast, Ryan Watson of Upsourced Accounting joins Amanda to chat about CAS, tax, apps, and the latest high-tech baby gear. Ryan talks about how he has grown his practice yearly and turned it into a sustainable engine. They also reflect on the history of Xero in the US market.

AICPA Calls For SBA To Change Unfair PPP Guidance

Pull up an ear and check out the latest accounting news for this week! We're talking about whether the IRS can make crypto any more confusing with its new 1040 crypto FAQ, and we'll do a rundown of what's important for accountants to know in the latest stimulus bill. Meanwhile, AICPA is calling for the SBA to change unfair PPP guidance, and calling for a tax filing deadline extension. In app news, we've got updates from FreshBooks, QuickBooks, Xero, and Square. Then, we'll dive into robotic process automation (RPA), thanks to a New York Times article, and we'll learn why Excel is the most important tool for at least one marijuana grower, and because munchies, we're going to travel to a Canadian burger joint that makes your meal choices expensable! All this, and more on today's episode!

#Accountant Is Not What You Think It Is On TikTok

Does the accounting profession have an image problem on TikTok? We'll talk about what it really means to be an accountant on TikTok. We'll also dive into the latest on the PPP, and how increased fraud protection, and some technical glitches are slowing down round two, and we'll look at the impacts of the Fed's recent ACH outage. We're talking more about diversity in accounting, and taking another look at crypto (since our recent update episode). In app news, rebranding continues, as Receipt Bank becomes Dext, and ADP "rolls" out a new payroll app, which appears to compete with Gusto, and we'll run down the latest updates for QuickBooks, Xero, and FreshBooks. Grab a beverage, and enjoy!

Bad App Causes $900 Million Bill Pay Blunder

David trades his lottery winnings for Bitcoin - will he be the next zillionaire? We're talking tax, including why lawmakers are starting to complain about a slow start to tax season, and how proposed legislation will dramatically increase IRS audits on the wealthy and corporations. We're also examining how to take control of your calendar in busy season, and what CPAs would do if they had more time. In app news, we ponder how Citigroup accidentally paid off a $900 million loan due to a horrible app, and talk about tax zapper software that's costing states hundreds of millions in lost sales tax revenue. We'll check out PayPal's plan for world super-app domination, acquisitions by Amazon, and Cin7, and so much more!

Deloitte Canada Gives Up On CAS

Rachel Fisch returns to the show to discuss Deloitte Canada's sale of its small business accounting services practice to MNP, Canadian quarantine rules, and much more. We're also reviewing EY's Super Bowl ad, learning about unemployment fraud, and a new e-file identity theft scam tax preparers need to know about, as well as PPP bottlenecks at the SBA. We'll get some app news about Rippling, and PayZen, and updates on Luckin Coffee, Wirecard, and much more!

Crypto Update with Shehan Chandrasekera & Dr. Sean Stein Smith

BNY Mellon, America's oldest bank, is making the leap into the market for Bitcoin. Meanwhile, Tesla has bought $1.5 billion in Bitcoin at the direction of Elon Musk, who says that he expects Tesla to also begin accepting payment in cryptocurrency in the future. It appears that Bitcoin and cryptocurrency are going mainstream. Is this the next big bubble, or the dawn of a new asset class? Shehan Chandrasekera, Head of Strategy for Tax at CoinTracker, and Dr. Sean Stein Smith, Assistant Professor at Lehman College, join the podcast to discuss this and more in a wide-ranging cryptocurrency update for the accounting profession.

Ed Kless on the Pandemic's Impact on Remote Work in Accounting

It’s looking more and more like 2021 is going to be another year of remote work, and flexible schedules are here stay. That makes this a perfect time to broadcast this interview originally recorded in June 2020 as part of the Sage Accountants Network quarterly call. Ed Kless and Blake Oliver discuss the impact of the pandemic on accounting firms and their relation to the physical office in this bonus episode.

Terrible TikTok Tax Advice

Join us as we talk about all the terrible financial advice on social media, and why we should do something about it! Also, let's do something about diversity in accounting, which is, frankly, terrible. In app news, lots from Intuit and QuickBooks this week. Plus, Bill.com stock pops on fantastic quarterly earnings, Xero gives Blake a treat for Valentine's Day, whistleblowing grows with remote work as employees become less engaged, and Deloitte is not looking good when it comes to the CDC's vaccine appointment system.

Sage Outage Leads To Threats Of Violence

This episode is packed with news, and opinions, and more GameStop factoids than you can possibly use! We'll learn why Blake sympathizes with r/wallstreetbets, then move on to updates, and listener views on the multi-week Sage South Africa outage leads to massive discontent. In App News, Melio and Pilot raise big rounds, CheckHQ could be disrupting an industry with "payroll as an API," and we've got some QuickBooks Online updates. We'll talk tax with news on TaxAct, and how TaxJar successfully lobbies to change sales tax regulation on behalf of clients. We've got info on the latest IRS activity, and discussion about unemployment fraud, how it dwarfs PPP fraud, and how bad it's getting in California. All this and so much more, right here, right now!

Proof That Accountants Are More Productive Working From Home

Welcome to our 100-percent PPP-free episode! We've got lots of other news to cover though, including a new survey proves that remote work is more productive for accounting firms, which makes it all the more astounding that it took a global pandemic to make working from home the norm in this profession. Also, Sage Business Cloud suffered a multi-day outage in South Africa, Biden's financial watchdogs set new targets, Syndio raises millions for its pay equity app, and Rewind (coincidentally our sponsor for this episode) raises a Series A. We'll also cover some of the best laptops for 2021, SMS apps you should consider for your firm, and talk about a survey showing Zoom fatigue is real, why nearly a third of professionals would rather quit than go back to the office, and more stories about remote work than you can shake a martini at!

Visa and Plaid Split After Nearly One Year Together

We've got a lot to talk about today. First and foremost, Blake gets his PPP loan forgiveness (and feels guilty about it), and we'll talk more on the forgiveness process. In M&A news, the Department of Justice convinces Visa and Plaid their merger is just not meant to be. In the political realm, payment, and marketplace platforms, such as Stripe and Shopify "cancel" Trump. There's a plethora of app-related news to share, including the risks you should know about using a .CPA domain, and a thorough discussion around Intuit's decision to finally give Mint some attention, then we've got some listener emails to round out the episode.

Big 4 Accounting Firms Take Big Stand

We hope you're enjoying your extended free trial of 2021! We've got lots of news to share in today's episode, including how Big 4 leaders reacted to the Capitol riot, and some tips and tricks on how to avoid being de-platformed (like a certain president). Plus, there's more news on the kickoff of PPP 2.0, stimulus payment issues, agent fees, and such. In app news, we'll talk about Pennylane's fundraising to build software plus an accounting service, the departure of a neobank, Azlo, Avalara's new Cloud Sales Tax Returns solution, and more. We'll take a "look" at BKD's film noir, "The Missing Deduction," examine what FASB plans to tackle, like Goodwill, in 2021, and unearth some other interesting accounting-related tidbits.

Everything is Bigger in Texas — Including Tax Fraud

Whether you're starting a new year, or just continuing 2020 indefinitely, we've got new news, including Blake's quest to find out how to offer CPE credits for our loyal U.S. listeners! We're talking a $2 billion tax fraud, and the Treasury's claim of no evidence to suggest taxpayer data was stolen in IRS hack, along with some stories of PPP winners and losers, and how the NASBA offices narrowly avoided the Nashville bombing. We'll also explore how to get your CPA without spending tons of $$. Then, we'll rummage through the latest app news, and acquisitions, some enlightening survey data, and more!

Meka Leka Hi Meka Hiney Ho 2021 Is A Go

Grab your party favors, confetti, and tinfoil, it's time to look back, and move forward! Blake and David review their past predictions and make some new ones for 2021. Also, a survey reveals that the majority of bookkeepers now offer AP services, and another survey suggests the remote work method is here to stay, post-pandemic, along with more discussion on state income taxes. In app news, Zoom phones in text messaging support and announces an email/calendar service, Square is buying a music streaming service, and Expensify launches Expensify.cash, plus some discussion on what Google's return-to-office strategy suggests about the future of remote work. Happy New Year, and thank you for joining us!

PPP Recipients Now Eligible for ERC: How to Maximize the Benefit

This is BIG NEWS for PPP borrowers: Business that received a PPP loan are now eligible for the Employee Retention Credit (assuming President Trump signs the Consolidated Appropriations Act of 2021 into law). Hear from Justin Elanjian, CPA and Partner at Aprio, what strategies you need to be considering when it comes to maximizing the benefit of PPP forgiveness paired with the ERC for your clients.

LegalZoom Launching Bookkeeping and Tax Services

CAP NEWS EXCLUSIVE: LegalZoom has purchased an accounting firm and is growing it with bookkeeping, tax, and onboarding hires in Austin, Texas. With recent executive hires from Intuit, it seems clear that LegalZoom is intent on building a tax and accounting services business that could very well compete with your firm. David and Blake have the details. Also in this episode: How Bob Dylan’s catalog sale highlights a tax advantage for songwriters, how US customers’ attitudes to fintech are shifting during the pandemic, why Slack is the right tool for the wrong way to work, how the huge federal government hack could impact the IRS, and more!

PPP 2.0 and Everything You Need To Know with Justin Elanjian of Aprio

Blake interviews Justin Elanjian, CPA, nationally recognized PPP expert and a partner at top accounting firm Aprio, about the top 10 changes to the Paycheck Protection Program in the pending bipartisan Emergency COVID Relief Act of 2020.

David and Blake Miss the Mark on PPP

Today, some of our loyal listeners take us to school about where we've missed the mark on things like audit, tax, and our favorite subject - the Paycheck Protection Program, and more. There's a plethora of app news, including some details on Oracle's move to Austin, how Square is "Cash"-ing in on clothing, BQE's partnership with AffiniPay, and more talk about fintech, including how Revolut quietly broke even. In the world of tax, and PPP, Mnuchin's got a new proposal, and how an extra paycheck will somehow, some way be in your future. All this and more on this festive episode!

Thanks Stripe! Now Every App Can Be A Bank

Ho-ho-ho ... Can't figure out what to buy that special accountant in your life? We've got a list of great gifts for the remote workers in your life! In all the news that matters, we've got a ton of PPP news, including the release of PPP loan data. In the world of fraud, you'll learn how virtual escape rooms help train employees to catch fraud and avoid scams, and we'll talk about the QuickBooks phishing email you need to avoid. In App News, Stripe's got a new Treasury API, there's a sparkly new "full service" offering from TurboTax, just in time for Tax Season 2021, and we'll examine Facebook's CRM acquisition. All this, and more on today's episode! Enjoy!

Credit Karma Exits Tax Prep, Square Enters

If you survived Black Friday and Cyber Monday, you can relax and enjoy the soothing sounds of Cloud Accounting news while you recover! There's a lot to cover, including Salesforce's potential Slack acquisition, how virtual HQs are racing to win over a remote work fatigued market, and what happens now that Intuit has won U.S. approval for purchase of Credit Karma. We'll also examine Expensify's $100 million in annual recurring revenue, a wealth of FreshBooks news, and ponder all the possibilities for spending Xero's mountain of cash. In other news, AWS went down in the midst of trying to upgrade capacity, Scottsdalians are among the first to get autonomously delivered stuff from Walmart, and how COVID has increased the urge to shop digitally. All this and more, right here, right now!

IRS To Increase Audits On Small Business By 50%

Happy Almost Thanksgiving! Before we stuff ourselves senseless on socially distanced turkey, we're talking remote work, and compensation for all those work-from-home expenses. We'll also discuss why women are less likely than men to feel fairly compensated for those expenses. Then we'll dig into PPP news, with talks about how the IRS plans to increase audits on small businesses by 50% — and how that's a joke based on the latest numbers. Meanwhile, since the IRS is investigating fewer tax preparers, is fraud declining? We'll also hit on the various and sundry confusion points regarding PPP loan forgiveness, the AICPA's contentions with the IRS on penalty relief, and the PPP loan necessity questionnaires by the SBA, all while Mnuchin pulls the plug on some pandemic lending programs. In other news, we'll examine some of the top challenges of accounting firms in 2020, and ponder why over a third of Americans won't move to rural areas due to slow internet speeds. In app-ish news, we'll talk all things QuickBooks Connect (Virtual) 2020, QuickBooks Live, Intuit earnings, and why Xero investors should forget about the United States market. Enjoy!

Millennials Need Helicopter Accountants

With the holidays fast approaching, we talk about new ways to celebrate, at a healthy distance, of course. Inspired by feedback from Leary's theory on why Trump lost, we dive deep into the reasons, and logic behind it. Looking for some great practice management ideas for winning millennial clients? We've got 11 from Ryan Lazanis, founder of FutureFirm. In app news, we talk about how NetSuite's debut of an accounting partner program; Receipt Bank availability on QuickBooks Desktop via Right Networks, and we'll look at Xero's fast growth slowing down, while profits surge. In the world of taxes, Deutsche Bank calls for taxing remote workers for the privilege of working at home, others are considering the benefits of a wealth tax, and Blake sits down with CAP listener, Juventino Gaytan, NAVSEA accountant, to talk more about relocation, income taxes, and more!

How Trump's TCJA Caused Him to Lose

David Leary has a theory... that Donald Trump's tax cuts way back at the beginning of his presidency were ultimately what caused him to lose this election, and an Excel error leads to voter fraud accusations. In other news, we'll talk about why Walmart's abandoning shelf-scanning robots, how to double your client conversions, and just what Bill.com and Square earnings are telling us about the future of cloud accounting. In PPP news, we'll discuss how a judge ordered the SBA to reveal PPP loan data it sought to obscure, while evidence of PPP fraud mounts. We'll also talk about the income tax surprise waiting for remote workers in 2021, and why California fined KPMG $1.3M for cheating scandal. All this and more, right now!

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