Podcast
The Accounting Podcast
Hosted by Blake Oliver & David Leary · EN
The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast! Join us weekly for a roundup of accounting news, analysis, and interviews. Plus, earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at https://earmarkcpe.com.
43episodes
Episodes
Newest firstAll episodes
Instead of Armed IRS Agents We Got Armed ICE Agents
Jan 1400:56:50Tap to summarizeRaids replaced audits, and guns replaced spreadsheets. Blake and David connect the dots from Minnesota's sprawling public-assistance fraud to a decade of IRS budget cuts and ICE crackdowns. You'll learn why enforcement shifted from prevention to raids, what California's one-time billionaire tax really proposes, how new AICPA rules could hit PE-backed firms, and why a botched audit didn't cost PwC its client, plus one pro tip to level up your Excel game.SponsorsOnPay - http://accountingpodcast.promo/onpayTaxBandits - http://accountingpodcast.promo/taxbanditsUNC - http://accountingpodcast.promo/uncChapters(00:00) - TAP 470 (00:33) - Minnesota Fraud Scandal Overview (03:18) - Historical Context and IRS Budget Cuts (08:34) - IRS and ICE Collaboration Issues (10:39) - Impact of Budget Cuts on Fraud (20:56) - Current Events and Political Reactions (26:17) - California Billionaire Tax Act (27:58) - Billionaire Tax Proposal Discussion (29:01) - Challenges of Implementing Wealth Tax (29:58) - Practical Concerns and Comparisons (34:24) - VRBO's Legal Battle with Michigan (36:46) - Private Equity and CPA Firms (47:17) - UNC Master of Accounting Program (51:11) - Excel World Championships Insights (55:27) - Earmark App for CPE Credits Show NotesJudge hits pause on IRS sharing taxpayer information with ICE https://www.nbcnews.com/politics/immigration/judge-issues-order-blocking-irs-sharing-taxpayer-information-ice-rcna245262Federal Agents Pepper Spray Protesters During Tucson Taco Giro Raid https://www.themarshallproject.org/2025/12/05/tucson-ice-raid-protests-taco-giroPoll: Nearly Half of Americans Think Their Financial Security Is Worsening https://www.cpapracticeadvisor.com/2025/12/29/poll-nearly-half-of-americans-think-their-financial-security-is-worsening/175587/California Billionaire Tax Act (2026 Billionaire Tax Act - PDF) https://oag.ca.gov/system/files/initiatives/pdfs/25-0024A1%20(Billionaire%20Tax%20).pdfVrbo Parent Company Sues Michigan Over $18.8 Million Tax Bill https://www.cpapracticeadvisor.com/2026/01/02/vrbo-parent-company-sues-michigan-over-18-8-million-tax-bill/175675/AICPA Seeks Comment on Ethics Rules Update for Alternative Practice Structures https://www.aicpa-cima.com/news/article/aicpa-seeks-comment-on-ethics-rules-update-for-alternative-practiceWH Smith asks shareholders to support PwC despite audit error https://www.internationalaccountingbulleteen.com/news/wh-smith-support-pwc-audit-error/I won the Microsoft Excel World Championship. Here's what every office worker should know about Excel. https://www.yahoo.com/lifestyle/articles/won-microsoft-excel-world-championship-093001306.htmlNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastWant 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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Can AI Replace “Thought Leaders”? A 2026 Reality Check
Jan 800:50:33Tap to summarizeThink AI will free you from ‘mundane bookkeeping’ so you can do advisory? Blake and David say it’s the opposite. Hear how owners already use AI as a de facto CFO, why drafting narratives—not matching bank feeds—is the real win, what the ‘AI premium’ means in a billable-hour world, and the two numbers firm owners should track in 2026: monthly recurring revenue and bottom-line profit.SponsorsUNC - http://accountingpodcast.promo/uncOnPay - http://accountingpodcast.promo/onpayTaxBandits - http://accountingpodcast.promo/taxbanditsChapters(01:35) - News Highlights and Sponsor Acknowledgements (03:56) - AI in Small Business Accounting (07:04) - AI's Impact on Accounting Tasks (10:01) - Thought Leader Survey on AI in Accounting (19:56) - AI Premium and Job Automation (25:27) - Survey Answers from Accounting Thought Leaders (25:54) - AI's Role in Strategy and Decision Making (28:24) - Impact of AI on Competitive Landscape (30:50) - AI's Effect on Costs in Accounting Firms (31:54) - AI Replacing Staff Accountants (33:24) - Personal Job Security and AI (41:05) - AI Influencers and Future Experiments (49:24) - Conclusion and CPE Information Show NotesThese Small-Business Owners Are Putting AI to Good Use https://www.wsj.com/tech/ai/small-business-ai-chatgpt-prompts-0c9a95c4 AI Thought Leaders Survey 2026: Process Predictions https://www.accountingtoday.com/list/ai-thought-leaders-survey-2026-process-predictions Tech Spending Outpacing People Spending as Firms Adopt AI https://www.accountingtoday.com/list/tech-spending-outpacing-people-spending-as-firms-adopt-ai How Much is the 'AI Premium?' https://www.accountingtoday.com/list/how-much-is-the-ai-premium AI Can't Replace Accountants. When Could It? https://www.accountingtoday.com/list/ai-cant-replace-accountants-when-could-it Accounting in 2026: The Year Ahead in Numbers https://www.accountingtoday.com/list/accounting-in-2026-the-year-ahead-in-numbers AI Vending Machine Lost $1,000 to Social Engineering https://www.wsj.com/tech/ai/anthropic-ai-claude-vending-machine-c7baef6f Anthropic's Project Vend Phase 2 https://www.anthropic.com/research/project-vend-2 Trump Commutes Sentence of Private Equity CEO Convicted of Fraud https://www.cnn.com/2025/12/01/politics/david-gentile-trump-pardon Trump Commutes 7-Year Prison Sentence of Former Private Equity CEO David Gentile https://www.nbcnews.com/politics/white-house/trump-commutes-7-year-prison-sentence-former-private-equity-ceo-david-rcna246744 California's Controversial Wealth Tax Proposal Leaves Billionaires With Little Way Out https://www.cnbc.com/2026/01/08/california-wealth-tax-proposal-leaves-billionaires-with-little-way-out.html California Could Impose a Billionaire Tax. Here's How It Would Work https://www.cbsnews.com/news/california-billionaire-tax-ballot-initiative-how-it-works/ New Tax on the Wealth of Billionaires https://lao.ca.gov/BallotAnalysis/Initiative/2025-024Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastWant 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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DOGE Chaos, Reciprocal Tariffs, Deloitte Backs off DEI, AICPA Caves on 150
Feb 17, 202500:48:23Tap to summarizeSponsorsCPA.com - http://accountingpodcast.promo/cpaRelay - http://accountingpodcast.promo/relayCloud Accountant Staffing - http://accountingpodcast.promo/casRho - http://accountingpodcast.promo/rhoChapters(00:00) - Welcome to The Accounting Podcast (00:54) - Chaos Created by Doge (01:32) - Top Stories of the Week (02:17) - Listener Mail and Additional Topics (05:09) - Live Stream Interaction (06:42) - DOJ and Treasury Payment Freeze (17:40) - Young Engineers at DOJ (24:15) - Automation Features for Seamless Transactions (24:44) - Addressing Viewer Questions on Treasury Policies (25:34) - Debate on Federal Fund Vetting and Spending (27:57) - Government Bureaucracy and Political Battles (33:31) - The Role of Young Auditors in Government Agencies (40:38) - Adobe's Tax Tips: Helpful or Harmful? (43:54) - Final Thoughts on Government Efficiency and Partisanship Show NotesComing soon!Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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Accounting Majors Up 12% & IRS Delays Buyout Offer
Feb 14, 202500:52:54Tap to summarizeSponsorsOnPay - http://accountingpodcast.promo/onpayKeeper - http://accountingpodcast.promo/keeperCloud Accountant Staffing - http://accountingpodcast.promo/casRho - http://accountingpodcast.promo/rhoChapters(00:00) - Welcome to The Accounting Podcast (03:37) - Government Employee Buyout Offer Update (09:24) - Undergraduate Accounting Enrollment Surge (12:38) - Illinois Proposes New CPA Pathways (14:25) - Elon Musk and IRS Direct File Controversy (18:16) - Doge's Access to Treasury Systems (26:53) - Tax Exemption on Tips: A Double-Edged Sword (30:19) - The Hidden Costs of Automation (38:03) - AI in Accounting: Current Innovations (47:03) - BDO Lawsuit: Inflated Revenues and ESOP (50:57) - Closing Remarks and Announcements Show NotesComing soon!Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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Will IRS Agents Take White House Buyout & TaxDome Leak Explained
Feb 1, 202501:12:38Tap to summarizeBlake and David examine several significant developments, including TaxDome's data security incident, and the implications of China's DeepSeek AI model that caused Nvidia's stock to drop. They also dig into the White House's federal employee buyout offer that could impact IRS staffing levels and break down key findings from Accounting Today's 2025 Year Ahead survey about trends in remote work, tech spend, and AI adoption in accounting firms.SponsorsKeeper - http://accountingpodcast.promo/keeperCloud Accountant Staffing - http://accountingpodcast.promo/casBasil - http://accountingpodcast.promo/basilChapters(00:24) - Introduction and Episode Overview (01:41) - Listener Shoutouts and Engagement (02:31) - Sports Banter and Mood Check (03:22) - Live Stream Interaction (05:11) - TaxDome Data Incident Discussion (22:24) - White House Buyout Offer for Federal Employees (31:26) - DeepSeek AI Model and Market Impact (36:24) - Exploring Perplexity's New DeepSeek R1 Model (36:58) - Comparing Reasoning Capabilities: R1 vs. ChatGPT (38:10) - The Google Search Analogy (39:16) - Concerns Over Unverified Financial Information (40:32) - Running AI Models on Personal Hardware (41:00) - Cost Implications for Businesses Using AI (42:59) - Innovation in Large vs. Small Firms (45:33) - Reforming the IRS: A New Approach (48:36) - Addressing the Accountant Labor Shortage (49:32) - Accounting Trends for 2025 (57:00) - The Role of AI in Accounting Tools (59:56) - Frustrations with Current Accounting Software (01:05:33) - Final Thoughts Show NotesDeepseek R1 Explained by a Retired Microsoft Engineerhttps://www.youtube.com/watch?v=r3TpcHebtxMChina’s DeepSeek AI dethrones ChatGPT on App Store: Here’s what you should knowhttps://www.cnbc.com/2025/01/27/chinas-deepseek-ai-tops-chatgpt-app-store-what-you-should-know.htmlTaxDome reports security incident, says no sensitive data exposedhttps://www.accountingtoday.com/news/taxdome-reports-data-breach Reporting system error official post-mortemhttps://community.taxdome.com/c/resources/reporting-system-incident-official-post-mortem-794aebba-618b-4857-8aab-debca4e644ee TaxDome Post from Caleb Jenkins’ LinkedInhttps://www.linkedin.com/posts/calebjenkins1994_so-taxdome-can-you-tell-us-more-about-activity-7288762022882594816-X9eS?utm_source=share&utm_medium=member_desktopTrump administration offers roughly 2 million federal workers a buyout to resignhttps://www.nbcnews.com/politics/white-house/trump-administration-offer-federal-workers-buyouts-resign-rcna189661Trump suggests sending IRS agents to the borderhttps://www.yahoo.com/news/trump-suggests-sending-irs-agents-233900348.htmlAccounting in 2025: The year ahead in numbershttps://www.accountingtoday.com/list/accounting-in-2025-the-year-ahead-in-numbersTop 10 AI accounting tools every business needs in 2025https://www.accountancyage.com/2025/01/24/top-10-ai-accounting-tools-every-business-needs-in-2025/Xero's new tagline: 'Your business supercharged'https://www.accountingtoday.com/news/xero-announces-new-tagline-your-business-superchargedNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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TikTok & IRS Direct File Saved; Trump Issues Own Currency
Jan 24, 202501:15:20Tap to summarizeBlake and David jump into the latest news, including the launch of Trump's own cryptocurrency and KPMG's expansion into legal services in Arizona, taking advantage of new rules allowing non-lawyers to own law firms. They also examine the Treasury Department's Chinese hack attack, South Carolina's $1.8 billion accounting error resolution, and Trump's proposed External Revenue Service.SponsorsRelay - http://accountingpodcast.promo/relayKeeper - http://accountingpodcast.promo/keeperTaxBandits - http://accountingpodcast.promo/taxbanditsBasil - http://accountingpodcast.promo/basilChapters(00:48) - Trump's TikTok Saga (03:35) - Live Stream and CPE Credits (04:48) - Trump's Cryptocurrency Launch (06:54) - Sage AI Data Leak Incident (12:27) - Relay Sponsorship and Banking Solutions (14:13) - Trump's Cryptocurrency Impact (28:06) - Direct File and IRS Developments (32:45) - KPMG Enters Legal Services (38:51) - Tax Bandits: Streamlining Your Tax Season (39:50) - Legal Document Automation with AI (41:04) - South Carolina's $1.8 Billion Accounting Error (45:56) - Trump's External Revenue Service Proposal (49:54) - Chinese Hackers Breach U.S. Treasury (56:51) - FDIC Sues Silicon Valley Bank Executives (01:04:39) - American Express Settles for $230 Million Over Bad Tax Advice (01:08:28) - Testing Google's Gemini Advanced for Tax Research (01:12:17) - Earn Free CPE Credits with Earmark (01:14:22) - Conclusion and Live Stream Announcement Show NotesTikTok restores US service after Trump says “we have to save it”https://www.reuters.com/technology/tiktok-goes-dark-us-users-trump-says-save-tiktok-2025-01-19/ Donald and Melania Trump debuted meme coins, $Trump and $Melania. Here's what to know.https://www.cbsnews.com/news/donald-trump-melania-meme-coin-cryptocurrency-what-to-know/ KPMG’s Bold Move: How Arizona’s ABS Rules Are Reshaping the U.S. Legal Landscapehttps://lawleaders.com/kpmgs-bold-move-how-arizonas-abs-rules-are-reshaping-the-u-s-legal-landscape/ IRS Direct File set to expand availability in a dozen new states and cover wider range of tax situations for the 2025 tax filing seasonhttps://www.irs.gov/newsroom/irs-direct-file-set-to-expand-availability-in-a-dozen-new-states-and-cover-wider-range-of-tax-situations-for-the-2025-tax-filing-season Sage Copilot grounded briefly to fix AI misbehaviorhttps://www.theregister.com/2025/01/20/sage_copilot_data_issue/ FDIC sues 17 former Silicon Valley Bank executives over collapesehttps://www.cnn.com/2025/01/16/business/fdic-sues-svb-executives-directors-intl-hnk/index.htmlFDIC sues former SVB execs over bank closurehttps://bankingjournal.aba.com/2025/01/fdic-sues-former-svb-execs-over-bank-closure/ SoftBank-Backed Fish Firm Allegedly Faked Most of Its Saleshttps://finance.yahoo.com/news/softbank-backed-fish-startup-allegedly-141253969.html American Express to pay $230 million to settle US charges over deceptive sales practiceshttps://www.reuters.com/business/finance/american-express-pay-1087-mln-settle-deceptive-marketing-allegations-justice-2025-01-16/ U.S. Sanctions Chinese Cybersecurity Firm Over Treasury Hack Tied to Salt Typhoonhttps://thehackernews.com/2025/01/us-sanctions-chinese-cybersecurity-firm.html SC auditor resigns after outside audit found $1.8 billion ‘surplus’ was actually an accounting errorhttps://www.wistv.com/2025/01/23/sc-auditor-resigns-after-outside-audit-found-18-billion-surplus-was-actually-an-accounting-error/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacc...
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JPMorgan's RTO Drama, VC Love for Accounting and the Fall of Bench
Jan 21, 202501:13:40Tap to summarizeBlake and David examine Bench's bankruptcy filing, revealing fascinating details about their spending patterns and challenges with the business model. They also explore venture capital's growing interest in accounting firms, particularly focusing on AI automation claims and their potential impact on the profession, and there's a lively discussion about JP Morgan's controversial return-to-office mandate and its implications for workplace flexibility, sparked by Blake's viral tweet that garnered nearly 5 million views.SponsorsTaxBandits - http://accountingpodcast.promo/taxbanditsRelay - http://accountingpodcast.promo/relayBoomTax - http://accountingpodcast.promo/boomtaxBasil - http://accountingpodcast.promo/basilChapters(01:23) - Bench Accounting Bankruptcy Deep Dive (02:17) - Venture Capital's Interest in Accounting (02:42) - JP Morgan's Return to Office Policy (04:04) - Continuing Professional Education Credits (05:05) - Bench Bankruptcy Filing Details (05:50) - Bench's Financial Breakdown (07:42) - Bench's Customer Acquisition Strategy (10:55) - Bench's Development and Management Costs (13:17) - Operations and Outsourcing at Bench (16:07) - Service Delivery and Refunds (19:47) - Venture Capital and AI in Accounting (29:16) - Relay: The Small Business Bank (35:28) - AI-Powered Bookkeeping: A New Frontier (36:44) - Debating the Future of Software Costs (41:14) - AI's Impact on Job Markets (45:15) - Challenges in Replacing Human Jobs with AI (50:57) - The Remote Work Debate (01:02:05) - Corporate Accountability and Legal Issues (01:12:03) - Closing Remarks and Future Topics Show NotesAI Has Venture Investors Excited About (Yes) Accounting Firmshttps://www.wsj.com/articles/ai-has-venture-investors-excited-about-yes-accounting-firms-3b9b3226Bench Accounting, Inc. and 10Sheet Services, Inc. https://www.ksvadvisory.com/experience/case/bench JPMorgan tells all its employees they must return to office full-timehttps://finance.yahoo.com/news/jpmorgan-tells-employees-must-return-140000800.html Work From Home Policies and Practiceshttps://pearlmeyer.com/insights-and-research/research-report/work-from-home-policies-and-practices Workplace Policies and Pay Transparencyhttps://pearlmeyer.com/insights-and-research/research-report/workplace-policies-and-pay-transparency H&R Block Agrees to $7M FTC Settlement and Will Make Downgrading Tax Tiers Easierhttps://www.cnet.com/personal-finance/taxes/h-r-block-agrees-to-7m-ftc-settlement-and-will-make-downgrading-tax-tiers-easier/ Capital One sued by CFPB over alleged deception on savings account interest rateshttps://www.msn.com/en-us/money/personalfinance/capital-one-sued-by-cfpb-over-alleged-deception-on-savings-account-interest-rates/ar-BB1rr4nY Imposing a $500,000 Fine, PCAOB Sanctions Baker Tilly US, LLP for Quality Control Violationshttps://pcaobus.org/news-events/news-releases/news-release-detail/imposing-a--500-000-fine--pcaob-sanctions-baker-tilly-us--llp-for-quality-control-violationsNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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Ohio Killed The 150-Hour Rule - Who's Next?
Jan 18, 202501:16:45Tap to summarizeBlake and David dive into major industry news, including Ohio ending the 150-hour CPA rule, setting a potential precedent for other states. They also discuss the Blackston acquisition of Citrin Cooperman and explore the implications of private equity involvement in accounting firms. Moving on, they examine workplace trends, including new data revealing that 61% of medium and large employers now require minimum in-office days, and debate the effectiveness of Net Promoter Scores (NPS) in accounting firms.SponsorsOnPay - http://accountingpodcast.promo/onpayBoomTax - http://accountingpodcast.promo/boomtaxTaxBandits - http://accountingpodcast.promo/taxbanditsBasil - http://accountingpodcast.promo/basilChapters(01:03) - Private Equity in Accounting Firms (03:14) - Personal Update: Blake's Hand Injury (05:18) - California's Insurance Crisis (13:57) - Ohio Ends the 150-Hour Rule (22:02) - App News: OnPay, SafeSend, and More (30:16) - Carvana's Questionable Accounting Practices (36:36) - Return to Office Policies (40:01) - RTO Policies and Office Leases (41:15) - Client Satisfaction and Net Promoter Score (42:53) - Debate on the Effectiveness of NPS (44:20) - Implementing NPS in Accounting Firms (52:03) - PCAOB Fines and Audit Quality (01:03:15) - Bitcoin and Government Policies (01:06:54) - Private Equity in Accounting Firms (01:15:07) - Earmark App and CPE Credits Show NotesReturn-to-office policies gain steamhttps://www.cfo.com/news/return-to-office-policies-gain-steam-remote-work-hybrid-wtw-resume-org/735710Citrin Cooperman, a Leading Professional Services Firm, to Receive Significant Investment as Blackstone Acquires Stake from New Mountain Capitalhttps://www.blackstone.com/news/press/citrin-cooperman-a-leading-professional-services-firm-to-receive-significant-investment-as-blackstone-acquires-stake-from-new-mountain-capital/Ohio is the first state to end the 150-hour rule for CPA licensurehttps://www.blakeoliver.com/blog/ohio-first-state-to-end-the-150-hour-rule-for-cpa-licensureOhio gov signs alternative CPA licensure pathway bill into lawhttps://www.cfodive.com/news/ohio-gov-signs-alternative-cpa-licensure-pathway-bill-law-accounting-aicpa/736942/Thomson Reuters Acquires SafeSend, Expanding Tax Automation Capabilitieshttps://www.thomsonreuters.com/en/press-releases/2025/january/thomson-reuters-acquires-safesend-expanding-tax-automation-capabilities.htmlXero Partners with Gusto to Offer Integrated Payroll Solutionhttps://www.wellesleyhillsfinancial.com/2025/01/05/xero-partners-with-gusto-to-offer-integrated-payroll-solution/Sync your transactions to QuickBooks Desktop with Ramp's direct integrationhttps://ramp.com/integrations/quickbooks-desktopHindenburg Research short on used-car retailer Carvanahttps://www.reuters.com/business/autos-transportation/hindenburg-research-short-used-car-retailer-carvana-2025-01-02/Enforcement Activity Involving Auditors – 2024 Mid-Year Updatehttps://www.brattle.com/wp-content/uploads/2024/08/Enforcement-Activity-Involving-Auditors-2024-Mid-Year-Update.pdfAmid Barely ‘Average’ Client Satisfaction, Why Aren’t More Firms Using NPS to Improve?https://insidepublicaccounting.com/2024/07/16/amid-barely-average-client-satisfaction-why-arent-more-firms-using-nps-to-improve/The federal government just got the greenlight to sell $6.5 billion in Bitcoin seized from Silk Roadhttps://fortune.com/crypto/2025/01/09/federal-government-allowed-sell-bitcoin-silk-road-courts/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube:
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How H1-B Visas Suppress Accounting Salaries
Jan 11, 202501:23:32Tap to summarizeBlake and David explore the controversial H-1B visa program's impact on the accounting profession, particularly how firms like Deloitte reportedly pay visa holders 10% less than U.S. workers and the potential implications for audit quality. They also examine Bench's sudden shutdown and subsequent acquisition and then discuss Barry Melancon's farewell interview with the Financial Times as he steps down as AICPA CEO, where he defended the 150-hour rule, his legacy, and his impact on the profession. SponsorsOnPay - http://accountingpodcast.promo/onpayBoomTax - http://accountingpodcast.promo/boomtaxTaxBandits - http://accountingpodcast.promo/taxbanditsBasil - http://accountingpodcast.promo/basilChapters(05:01) - Sponsors and H1B Visa Discussion (11:14) - H1B Visa Impact on Accounting (26:53) - Bench Accounting Shutdown (45:17) - VCs and the Tough Decisions (47:42) - Challenges in Automating Bank Transactions (48:58) - H1B Visa Workers and Financial Misconduct (52:19) - Predictions for 2025 and Beyond (58:12) - Private Equity's Impact on Accounting Firms (01:08:15) - Barry Melanson's Legacy and the Future of CPA (01:15:23) - Conclusion and CPE Credits (01:16:45) - Bitcoin and Quantum Computing Show NotesRobert Sterling – Twitter - H-1B DATA MEGA-THREADhttps://x.com/RobertMSterling/status/1873174358535110953 Deloitte employees with H-1B visas were paid 10% less than US workers, report findshttps://www.hrdive.com/news/deloitte-employees-with-h-1b-visas-were-paid-10-less-than-us-workers/735162/ Bench to be acquired after abruptly shutting downhttps://techcrunch.com/2024/12/30/bench-to-be-acquired-after-abruptly-shutting-down/ ‘Most important man in accounting’ warns against lowering standardshttps://www.ft.com/content/033792af-18e4-4d69-92f9-5b78b01f2012 Meet Willow, our state-of-the-art quantum chiphttps://blog.google/technology/research/google-willow-quantum-chip/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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BOI On Again Off Again, Bench Shuts Down, Dying Language of Accounting
Jan 3, 202501:10:19Tap to summarizeRounding out 2024, Blake and David tackle tons of accounting news, including bookkeeping startup Bench's shutdown and the ongoing BOI reporting requirements saga. They also examine concerns about IRS Commissioner nominee Billy Long's credentials, including his "Certified Tax and Business Advisor" designation from a three-day seminar. Wrapping up, they review some of 2024's hottest stories, including declining CPA candidates, audit quality issues, and KPMG CEO Paul Knopp's Wall Street Journal op-ed about the "dying language of accounting."SponsorsLiveFlow - http://accountingpodcast.promo/liveflowSuralink - http://accountingpodcast.promo/suralink Cloud Accountant Staffing - http://accountingpodcast.promo/casTaxBandits - http://accountingpodcast.promo/taxbanditsChapters(01:36) - Beneficial Ownership Information Reporting (BOI) (03:39) - Bench Accounting Shutdown (12:35) - Automated Bookkeeping Challenges (18:35) - Tax Fraud Case: The Magician (28:20) - IRS Commissioner Nominee Controversy (33:55) - Tax Refunds and Lifetime Advisors (36:16) - The Dying Language of Accounting (37:44) - CPA Licensure Reform (39:05) - Working Conditions in Accounting (42:28) - Reflecting on 2024: Key Themes and Events (55:34) - AI and the Future of Accounting (01:00:59) - San Francisco's Tax Controversies (01:04:03) - IRS Special Payments and Predictions for 2025 (01:06:25) - Bitcoin and Quantum Computing Risks (01:09:13) - Closing Remarks and CPE Information Show NotesBench shuts down, leaving thousands of businesses without access to accounting and tax docshttps://techcrunch.com/2024/12/27/bench-shuts-down-leaving-thousands-of-businesses-without-access-to-accounting-and-tax-docs/New York tax preparer called ‘the Magician’ charged for tax fraud of $145mhttps://www.theguardian.com/us-news/2024/dec/17/new-york-magician-tax-fraudBilly Long, Trump’s Nominee to Lead the IRS, Touts a Credential That Tax Experts Say Is Dubioushttps://www.propublica.org/article/billy-long-irs-trump-certified-tax-business-advisor-missouriHow a Consulting Firm and Trump’s I.R.S. Pick Pushed a Problematic Tax Credithttps://www.nytimes.com/2024/12/24/business/billy-long-irs-tax-credit.htmlThe Dying Language of Accountinghttps://www.wsj.com/opinion/the-dying-language-of-accounting-cpa-licensing-fede2e74CPAs Deliberate on the Decline of Accountinghttps://www.wsj.com/opinion/cpas-deliberate-on-the-demise-of-accounting-kpmg-business-language-c0be3e68Most Americans say a salary of $270K deems financial successhttps://www.cfo.com/news/most-americans-say-salary-of-270k-deems-financial-success-gen-z-boomers-inflation/734019/CFPB Sues Walmart and Branch Messenger for Illegally Opening Deposit Accounts for More Than One Million Delivery Drivershttps://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-walmart-and-branch-messenger-for-illegally-opening-deposit-accounts-for-more-than-one-million-delivery-drivers/Lyft Accuses San Francisco of $100 Million Tax Overchargehttps://www.bloomberg.com/news/articles/2024-12-24/lyft-accuses-san-francisco-of-overcharging-100-million-in-taxesIRS announces special payments going this month to 1 million taxpayers who did not claim 2021 Recovery Rebate Credit; encourages non-filers about approaching deadline to claim creditshttps://www.irs.gov/newsroom/irs-announces-special-payments-going-this-month-to-1-million-taxpayers-who-did-not-claim-2021-recovery-rebate-credit-encourages-non-filers-about-approaching-deadline-to-claim-creditsNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/Overcast
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