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
Intuit drops out of the IRS Free File program, a startup called Ivix aims to help governments catch tax evaders around the world, Relay Financial releases advanced bill pay, accounting startup Proper raises $9 million to do the books for property managers, updates from Xero, QuickBooks, Apple, and more
A spreadsheet may lead to the downfall of the Trump Organization CFO, an analysis of the Biden tax plan, qualities that make a good accounting firm partner, cash payments dropped during the pandemic, Gusto makes its second acquisition, and how algorithms at Chime and Amazon are doing not-very-nice things to regular people
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...
Congress wants to regulate tax preparers, the Taxpayer Advocate again bemoans IRS service levels, Gusto is opening up payroll to other apps via their API, Xero updates for July, moves by ServiceTitan and LegalZoom, Canopy raises $$$, the two companies that dominated PPP lending, Robinhood settles with FINRA, accountants more likely to return to the office, most employees say they have too many meetings, and a new state law creates trouble for workers seeking remote positions from Colorado
We dive into the brilliant tax avoidance strategy Peter Thiel used to amass a $5 billion in a Roth IRA so that it will never be taxed. Also, why listeners of the Cloud Accounting Podcast didn't get their CPA, VISA buys Tink, an overview of QuickBooks Online updates for June, Wave adds accounts receivable management features, Venmo changes its policies in a big way, and more
IMA has concerns about AICPA & NASBAs new accounting curriculum, why accountants give up on getting the CPA license, the SPAC atrocity known as Lordstown Motors, Expensify is building payroll, neobank news, Gusto acquires Ardius for R&D tax credits, Intuit cancels TradeGecko AKA QuickBooks Commerce for non-US customers, and more
A bill in Congress would make accounting part of the STEM curriculum, the best cities for accountants, the IRS leak of billionaires tax info, Microsoft holds an esports tournament for financial modeling in Excel, accounting software + services startups Osome and Penny Lane raise $$$, the two accounting firms at the heard of the SPAC frenzy, and how technology is filling the labor gap
Liz Mason, CPA and CEO of High Rock joins the show! We discuss: Is the Maricopa County election audit really an audit? Also, the PCAOB chair is out, QuickBooks pricing is changing for ProAdvisors, Bench raises more $$$, Xero's report on the economy, and more
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.
Dems in the Senate want to change up the PCAOB leadership, KPMG relaxes remote work policies, PPP and stimulus fraud investigations continue, China's central bank bans other Chinese institutions from crypto while the US Federal Reserve dips its toes into the water, and updates from Canopy, Square, Avalara, Revolut, and more
Kristen Keats, CPA, joins the show to talk about busy season burnout, KPMG Canada's new foray into outsourced accounting with "KPMG Finance Plus," the Restaurant Revitalization Fund and Child Tax Credit Expansion, 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, opportunity for automation in audit, and more
Accounting first year salaries are on the rise, Kabbage is under investigation for PPP fraud, Collective raises $20 million (in part from Ashton Kutcher) to conquer the S corp freelancer market, Relay Financial raises $19 million for modern banking accountants can use, and more
PPP is out of money and the IRS ran 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 what tasks knowledge workers dread the most. In app news, Bill.com is buying Divvy for $2.5 billion, and Veryfi raises $12 million. Chime can no longer call themselves a bank, and FloQast has a coloring book that could help de-stress our friends caught up in...
Biden wants $80 billion for the IRS and non-GAAP is back, baby! In app news: The brief but heart-stopping QuickBooks Online Payroll outage, Expensify files for an IPO, Stripe acquires TaxJar, Brex raises $425 million, updates from Xero and Square, and more
The SBA's SVOG portal is set to reopen; legislation introduced to fix PPP loan inequity; the IRS is way behind on processing tax returns; how Biden's agenda relies on the IRS; a big 1099 change for gig workers; Florida finally starts collecting sales tax from out-of-state sellers; Netflix is training production accountants; House passes bill to create safe harbor for cannabis banking; what makes a business owner want to hire a bookkeeper (and how knowing that will help your marketing); you...
The IRS may be losing up to $1 trillion per year due to tax cheats and a lack of tax collectors to go after them. Meanwhile, the AICPA is protecting the CPA license from deregulation in West Virginia. ACH payments have a record quarter. The IRS is set to roll out monthly Child Tax Credit payments this summer. PwC UK to allow 50% remote work. What's new in Oracle NetSuite. 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...
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!
Why accounting needs to support #StopAsianHate, Blake reveals his fixed/value pricing methodology he used in his own firm, solutions for accountants facing QuickBooks Online ACH woes, Pilot as the "AWS for SMB backoffice," and more
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.
Slack backs off of direct connections across orgs, how firms prefer to communicate with clients and prospects, modern accounting firm Pilot gets an investment from Jeff Bezos that values it at $1.2 billion, Xero acquires e-invoicing company Tickstar, India now requiring audit trails on all GLs, how to collect $1.4 trillion in unpaid taxes, and more
With stimulus payments going out a survey shows over half of small businesses are now fully reopened. The federal tax deadline has been extended to May, but tax pros aren't happy about it. The PPP deadline is likewise extended. BDO partners with Xero, ProAdvisors are up-in-arms about having to pay higher ACH fees, a production payroll startup takes aim at payroll for the entertainment industry, and a study shows that CPA education is lagging behind tech and even the CPA exam. Lastly we...
Economic confidence recovers to near pre-pandemic levels for finance leaders, Scaling New Heights and AICPA ENGAGE rescheduled, Deloitte's role in the California unemployment debacle, a huge increase in demand for payroll services, the advantage accountants have over architects, Lightspeed acquires Vend, and raises by Karbon, Autobooks, and Zeni (another software company that wants to automate your bookkeeping work)
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.