Displaying episodes 31 - 60 of 232 in total
While we wait to learn who's going to be in charge of the country, this episode is full of all the news that's good to know, including what accountants can learn from the 3 billion texts sent during this U.S. election, how employers are refilling open accounting jobs during the pandemic, and the future of remote work after the pandemic ends. There's more PPP-ish news, including how the SBA is pressing big businesses to justify the necessity of their PPP loan applications, more related frauds, and updates on the Main Street Lending program. Then, we dive into an all-you-can-eat buffet of app news from the likes of QuickBooks, FreshBooks, Lendio, Square, Stripe, and more!
David Barrett, CEO of Expensify, emailed all 10 million users on Friday morning telling them that, “If you are a U.S. citizen, anything less than a vote for Biden is a vote against democracy.” Blake and David dive into the reactions from and impact on the accounting and bookkeeping community, including results from this week's Twitter survey. In app and fintech news, Jirav partners with CPA.com, Chase goes after Square, PayPal adds crypto, FreshBooks adds inventory, and Jetpack Workflow gets a new perspective. In news of a stranger nature, Accounting Seed makes an accounting board game, George Washington's Revolutionary War expense report. Finally, we balance the depressing political news with a spirit-boosting voicemail from another satisfied Cloud Accounting Podcast listener!
We're celebrating the passing of the final official tax deadline of 2020 with a huge slew of news! We'll dive into what E&Y has in common with a string of imploding firms. Then we'll Zoom into a wide array of updates and features that will take the yawn factor out of videoconferencing, and enhance employee safety, and enable hybrid workforces. If you've been itching to travel, a new study reveals that it's nearly impossible to catch COVID on a plane. Venturing into other news, we'll talk about Robinhood, and the lack of security in many newer fintech players, and we look at Revolut's play to get a bank charter in Cali. Then, we'll round out the party with some IRS updates, PPP happenings, and we'll also see who's not charging for PPP services. All this, and party favors! Enjoy!
We've got news! A lot of news! In this episode, we cover the latest on PPP forgiveness, the IRS's continuing lack of resources, and how they make it easier to audit the poor, while those with lots of cash, like the NRA's Wayne LaPierre, and John McAfee, software pioneer, are suspected of, and indicted for tax fraud. In the midst of, and beyond COVID, there's more news around remote work, and productivity, including how Microsoft is now allowing employees work from home 50% of the time, and Google is challenging Microsoft Office with a new version of G Suite, called Google Workspace. We cover app news, with updates on offerings from Gusto, Expensify, Avalara, Client Hub, and more, and talk about the recent Robinhood "potential" hackery, serious mystery software errors that plagued the state of Georgia, and more flaws in Excel affecting accurate reporting of COVID cases in the UK. All this and so much more!
Birthdays abound! Both David and Microsoft Excel celebrated special days this week! We'll take a brief look at Excel's long run and talk about their future. We spot some almost silver linings in the COVID clouds, including why your website is crucial to gaining new business in this "new normal" landscape, and how EisnerAmper is leading the "return to work" charge with its own homegrown social-distancing app. In other news, Intuit removed itself from all Scaling New Heights in-person and virtual events for the time being, while Sage intacct has been busy releasing what looks to be a pretty useful feature - an AI-powered timesheets app built into Sage Intacct Cloud. We'll review the list of top accounting apps, as seen in Accounting Today, and dig into some Stranger news Things, revolving around the Apple credit card, and then enjoy the latest in entertaining stupid human tricks, and learn what the Mother of Dragons, White Walkers and the Night's Watch have in common with the PPP. Grab some cake and ice cream and enjoy the party!
Accountants favor Trump in election by large margin; New Job Cuts at CPA Firms; Is It Insane to Start a Business During Coronavirus? Millions of Americans Don’t Think So; Not One PPP Loan Has Been Forgiven; Trump's tax returns show chronic losses and years of income tax avoidance; FreshBooks Buys Mexico's Facturama; Intuit launches new QuickBooks Commerce platform; 2 Shopify Employees Took Consumer Data; Avalara debuts suite for alcohol industry; Blackbaud Ransomware Breach Victims, Lawsuits Pile Up; QuickBooks Recurring Transactions now available to third-party apps; New audit evidence standard allows for non-human evidence collection.
So. Much. News. TikTok Bid Highlights Oracle’s Public Embrace of Trump; Senate, Supreme Court opt out of Trump payroll tax deferral; House Republicans push to reopen Paycheck Protection Program amid coronavirus relief gridlock; E-filing problems plague some Sept. 15 tax returns; Penalty relief may be available to those who miss Sept. 15 deadline due to COVID-19; IRS set to begin rolling out new case management system; US Offices Only At 50 Pct Capacity In August; Almost 60 percent of business closures are now permanent, new Yelp data shows; Square launches payroll feature that could boost its banking business through the Cash App; Xero revamps Early U.S. plans; What’s new in QuickBooks Online: September 2020; TD Rolls Out Online Accounting In Bid For Small Biz Accounts; Chime is now worth $14.5 billion, surging past Robinhood as the most valuable U.S. consumer fintech; Wolters Kluwer buys XCM Solutions; Bookkeeper360 Launches App That Integrates with Xero to Provide Real-Time Business Insights; Survey Says: Fintech On The Rise During COVID; Klarna Valued At $10.65B After $650M Fundraise; QuickBooks Desktop 2021 updates respond to new COVID realities
So. Much. News! Grab a beverage, and/or snacks! Major companies reject Trump’s payroll tax deferral; SaaS Firm CEO Resigns; Layoffs, Probe Follow; DOJ: 57 Charged With Alleged PPP Fraud; Melio Raises $144M to keep Small Businesses in Business by Simplifying their B2B Payments; Sage and Revolut partner to hand back three weeks of admin time to small business owners; The FTC Is Investigating Intuit Over TurboTax Practices; Deel Lands $30M For Workforce Payroll; The majority of workers use automation software at work—here's why; Employers added 1.4M jobs in August, but subtracted 1.6K accounting jobs; Quickie lender Kabbage doled out billions in PPP loans. A number of borrowers raised red flags; SBA Loan Program Contractor and Rocket Loans Face Scrutiny; GPT-3 bot that lets people with no accounting knowledge generate financial statements.
There's a lot to talk about today, including news on how CPA domain applications are now open, and some discussion on the Federal Reserve's new FedNow service. We'll also touch on Arizona being the first state to okay non-lawyer ownership of law firms. In App News, Karbon releases Time & Budgets; a spreadsheet error led to Edinburgh hospital opening delay, and some news of Zoom, and Xero. Then, the piece de resistance - our take on the average annual compensation of equity partners in the top 100 accounting firms, and why big firms are starting to resemble pyramid schemes!
While we wait for AI to take over the world, there's a lot to talk about in the now, like the fact that the IRS guidelines put employers on the hook for Trump's payroll tax break, and how Intuit's revenue is up 13 percent. Beyond that, Xero is entering the lending arena with an $80m Waddle acquisition, and they've appointed a director to help grow the U.S. Hispanic market. Meanwhile, Amazon gets hit with a $19M invoicing scam, along with other interesting app news tidbits. Then, we talk about why CPA firms' hiring of accounting grads down 30%, and possible solutions for all sides, and discuss why the U.S. tax code favors automation. All that and more, now!
We've got a lot to talk about in this episode including how clients disappointed with tax refunds, expect more from accountants, more app news with QuickBooks Online Advanced now supporting fiscal weeks for restaurants; NetSuite adding more remote-friendly accounting features, and Xero and TriNet providing full-service HR solutions to U.S. small businesses. In other news, a reported 57% of parents feel closer to coworkers now, despite working from home. The IRS will start sending out interest payments to millions of taxpayers with 2019 tax refunds. In PPP news, Potbelly returned its first $10M PPP loan after public uproar. All this and much more! Enjoy!
Lots of news to cover in this episode, including how before BigCommerce’s 200% IPO pop, Intuit offered $1.5 billion for the software company, and why AmEx is in advanced talks to buy SoftBank-backed Kabbage. In addition, employers are wary they could be on the hook for payroll taxes due to Trump's executive order, and accountants want clarity, and Trump advisors urge delisting of U.S.-listed Chinese companies that fail to meet audit standards. Meanwhile, New York is suing the NRA for financial fraud, and more.
On today's episode, we're talking about how cloud spending has reached record highs amidst the economic fallout of COVID. We'll cover industry news, such as Intuit's acquisition of TradeGecko for $80M, how Proper raised $4.8 million to become the 'Uber of property accounting,' and why Kabbage is in the market for a buyer, and how Rippling scored $145B in their Series B Round. In other news, Xero is going ‘On Air,' the U.S. is set to investigate Intuit’s Credit Karma takeover, and why scientists renamed human genes to prevent huge Microsoft Excel errors. We'll also talk more about remote work - the hours, the meetings, and the tax implications. All this and more! Grab snacks!
In this episode, we've got more PPP news, including the debate over accounting firms paying back PPP loans, the elusive and nonexistent deal on federal unemployment benefits, and how one Florida Man buys a Lambo with fraudulent PPP money to ease his pandemic burdens. In other news, we've got updates from Xero, FreshBooks, YayPay, Gusto, and big news from Intuit about their latest product, QuickBooks Cash. We'll also talk about Shopify's revenue nearly doubling, Enova's slated acquisition of OnDeck, Monzo's losses in the UK, and much more!
There's a lot to cover in this episode. We'll talk about McConnell’s stimulus waiting game becoming a race against clock, and just what Democrats and Republicans want in the next coronavirus relief package, and what Arizona's tenuous coronavirus plateau could teach us. We'll also focus on the demise of ScaleFactor, from the employees' perspective, talk about all the rescues ruining capitalism, and Modern Monetary Theory, and explore the reasons why the AICPA created a forgiveness tool for the masses. All this and more! Grab a LOT of snacks!
Faulty data collection raises questions about Trump’s claims on PPP program; New York City didn't get its fair share of PPP loans, says comptroller; Accountants predict 2020 will be worst year for economy since World War II; A surprising number of S&P 500 companies pull guidance; Under stress, accountants turn to technology to get through the pandemic; Firms commit to remote work; U.K. orders Big Four to separate audit practices (but not really) by 2024; and Zoom gets into the hardware game with an all-in-one home communications device for $599.
Much of the Paycheck Protection Program loan data is now public — Let the PPP shaming begin! Big banks pledge to donate PPP profits; Trump's tax returns may eventually become public, but not before the election; AICPA urges IRS to waive failure to file and late fee penalties; big jumps seen in tax prep fees; Turbo Tax Sucks Ass (according to Hasan Minhaj); What's new with Xero; Venmo releases business profiles feature; and more!
In today's episode, we're talking about how the IRS refuses to postpone the July 15 deadline, and why the AICPA won't argue the point, despite a survey of members finding that a plurality want another delay. In other news, Wirecard's COO is on the lam while the spotlight falls on auditor Ernst & Young; tax audits fall dramatically as coronavirus cripples the IRS, and millionaires face a near-zero chance of an audit. We'll also get into the Senate's extension of the PPP, and one estimate of PPP fraud exceeds $1 billion. All this, and more! Grab snacks!
We're covering lots of ground in this episode, with news about how ScaleFactor, the "accounting firm with software engineers" that raised $100 million from A-list venture capital firms, is abruptly shutting down, and how Wirecard's future in doubt after revealing missing $2.1B; Wirecard's CEO, Markus Braun, is arrested, and why EY failed to ask Wirecard for bank statements for three years. We'll also examine NASDAQ's suspension of trading of Luckin Coffee after its massive fraud. In other news, GE swaps KPMG for Deloitte, the SBA has exempted lawmakers, and federal officials from ethics rules for the Paycheck Protection Program, PPP recipients can now apply early for forgiveness, and the Treasury sent more than one million coronavirus stimulus payments to dead people. We've got app news, including how Intuit changed its tech development focus, while laying of 715, and much more!
In this episode, we dig into two massive, recent frauds: Luckin Coffee of China, and WireCard of Europe. We're continuing coverage of the Paycheck Protection Program, and talking about how the IRS is bringing employees back to the office (but not Tax Court). In other news, Receipt Bank acquires Xavier, a Toronto accounting firm gets hit by ransomware, and more!
Today, we're talking about how Wave releases small business banking features bundled with their accounting software, but it turns out QuickBooks already quietly launched a similar feature. Then, we'll dive into how some businesses hit by coronavirus are now being hit by holdbacks from their payment processors; and though CPA firms and societies are pledging to change following Black Lives Matter protests, will things actually change? We've got more on the PPP front, with Kudlow and Mnuchin walking back promises of transparency for the Paycheck Protection Program (PPP), how Senate Democrats are pressing for a simplified PPP forgiveness process. In other news, FreshBooks launches its Accounting Professionals Program, and much more!
In this episode, we're talking about how tax policy impacts social policy, how the U.S. PwC chief details "plan" to combat racism — is it just more talk? Also, after 50 years, there's still little progress for Black accountants. What should we make of the jobs report? CPA execs have a bleaker outlook thanks to coronavirus. In other news, Zoom crushes quarterly earnings estimates but Microsoft has taken notice, PPP forgiveness rules are eased by Congress, and which banking groups are calling for PPP forgiveness. We'll also touch on three ways to get the most out of Microsoft Teams, how Xero delays price increases and releases new business and cash flow dashboards, and more!
Uber tries the EBITDAC maneuver with its latest numbers, adding back expenses due to coronavirus; a case study of a firm that grew 15% during the last recession — what accounting firms today can learn from Grassi & Co.; the House passes a bill loosening the restrictions on PPP money for small businesses; despite working more hours, professionals say they prefer to continue working from home after the pandemic is over; Deloitte plans to lay off 5% of staff, and more.
We kick things off with an analysis of Intuit, Xero, and Sage earnings announcements, plus a roundup of new cloud accounting app features, and a new blockchain app from Grant Thornton. Then we return to the PPP with the latest guidance from the SBA. Plus: How Deloitte is (apparently) screwing up the UK effort to make more PPE for its national healthcare system, and what Congress going remote means for the future of working from home.
A reality star has been charged with fraud for using his $2 million PPP loan to buy a Rolls Royce and bling! We're back with more news about the latest PPP guidance, plus the impact of COVID-19 on accounting jobs, some follow-up on MyPayrollHR, and Senator Burr's alleged insider trading scandal.
Could the tax deadline get extended again? The White House is considering it! Also, demand for the Paycheck Protection Program among small businesses has suddenly cooled, in part due to worries about bad PR and potential issues with loan forgiveness. We've got a survey of accountants showing how firms are handling coronavirus. Furthermore, the SBA has halted new applications for EIDL loans and is capping the amount at a fraction of the former max, the IRS is asking people to send back stimulus checks mailed to dead people, and more.
Before it could even get started, round two of the Paycheck Protection Program (PPP) ran into problems with the SBA website failing to handle the deluge of applications from banks both big and small. The blame game intensifies, with private schools joining public companies on Sec. Mnuchin's naughty list. Meanwhile, the Justice Department is launching an investigation of possible PPP application fraud, and the IRS decided that PPP loan-related expenses will NOT qualify for tax deductions. Finally, the AICPA urges PPP loan forgiveness guidance and makes recommendations, and we've got a survey of small businesses showing how the PPP is working out for them.
Mike Whitmire of FloQast joins the show to preview his new book for accountants, "Controller's Code: The Secret Formula to a Successful Career in Finance". We discuss how accounting teams are holding up in quarantine, why so many first-time controllers struggle in the job, how the role of the controller has changed, how technology continues to change the job, how controllers can be more forward looking, and where we're headed as a profession.
In this episode, we cover a survey that shows the impact of COVID-19 on the accounting profession, why the second installment of Paycheck Protection Program money may already be spoken for, how federal CARES Act unemployment benefits are ruining PPP, and a half decade of SBA security lapses. We'll also talk about resources to track PPP loan forgiveness, how having a digital currency could spare us all of this stimulus payments pain, and how to decide who to let go.
On Thursday the U.S. Treasury announced that the SBA's Paycheck Protection Program had run out of money. Now Republicans and Democrats are squabbling about whether or not to add more money to the pot. But perhaps first we should ask, what did the first $349 billion get us, anyway? Then, we dive into the what-ifs, and discuss better ways to spend trillions of dollars on our country. Plus, we find some other things to talk about, like the latest accounting firm layoffs, some new news from Plaid, Tiller Money, and more!
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