David's trip to Cancun, Blake's trip to Taliesin West, $600 billion paid to ransomware attacks in first half of 2021, Jamie Dimon says Bitcoin is worthless, could crypto be the cause of the next financial crisis? USPS offers paycheck cashing, will there be a UPS Store bookkeeping? How PE-backed firms will heighten the war for talent, CAS practices are growing like crazy, why SMBs need more tailored SaaS platforms, Microsoft shutting down LinkedIn in China, is enQ genius or evil genius? and more!
Before David departs for sunny Cancun, we've got a lot to talk about! We've got some listener feedback on the difficulty getting the CPA (and whether it was worth it). We'll also talk about what CPA firms lay out as the top issues in 2021 and beyond. As per usual, IRS service levels continue to plummet, and we'll look at Florida Man's tax practitioner's terrible tax fraud scheme. In app news, Sage buys GoProposal, Xero's got updates, and FreshBooks buys FastBill. Google Drive is getting...
This is an excerpt from Blake's interview with Jeff Thomson about the Certified Management Accountant (CMA) designation and how it compares to the CPA license. We learn that public accounting is no longer the only starting point in this profession, and that's one reason why the IMA opposes changes to the college accounting curriculum that may eliminate or reduce management accounting and cost accounting courses. Discover what it takes to become a CMA and the impact it can have on your career....
A good reason to get your CPA, PwC says staff can work remotely forever (with a catch), work-life balance improves audits, but not job satisfaction, why going back to the office isn't so great when teams are hybrid, nominations open for the Accounting Today 100 Most Influential, Intuit hosts its Investor Day, Intuit acquires Data Dear to connect QBO Advanced with Excel, listener feedback on Quicken and QuickBooks, Avalara acquires Track1099, Xero suffers day-long outage, updates in QuickBooks...
AOC's dress should have said, "Tax The Met Gala," how departments in a company are becoming apps, IRS Tax Pro Account sees low adoption, the revolving door of Big 4 and government, California law requires disclosure of Amazon performance metrics, KPMG urges boards to focus on climate risks, is it too hard to get the CPA?, New York law firm files class action lawsuit over QuickBooks Payments fees, Intuit launches venture arm, China bans crypto, the top virtual conference software for CPA...
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...
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...
Rumor has it that Intuit is buying Mailchimp for $10B, Xero Tax in the UK is now personal, a digital driver license is coming to an Apple device near you, Neat releases NeatBooks, FreshBooks updates, Square announces a subscription invoicing product, Vic.ai raises $$$, Canopy integrates with QBO, BakerTilly to acquire AcctTwo, how Deloitte turned Simu Liu into a superhero, and 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
A TikTok sorority future CPA, why an interior designer loves doing bookkeeping, how to work two jobs at once, PwC delays return to office, EY launching 150 credit hour effort (but maybe we should just cancel 150 hours), Ed Medlowitz picks a fight, fintechs to blame for PPP fraud, why accountants should audit AI companies, the "Accounting Firm Xero", Blue J raises a bunch of money to add artificial intelligence to tax research, and Credit Karma integrates Money with QuickBooks Online
Millions of PPP borrowers still haven't applied for forgiveness, what firms would have done differently this past tax season, infrastructure bill held up by crypto rules, closing date set for SVOG, none of hundreds of AI worked to predict coronavirus infections, Xero updates bank reconciliation and partners with Revolut, Gusto raises a ridiculous amount of money, Lockstep gets some cash, too, IRS is using QR codes, ZenBusiness Money launches, US Bank buys Bento for Business, and Check (the...
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...
Matthew McConaughey invests in employee management & payroll app Homebase • Our take on AICPA Engage, the accounting knowledge super-spreader event of the year • How to avoid paying taxes on crypto mining by doing it inside an IRA • More reasons to text with clients • All the stuff that doesn't f***ing matter to entrepreneurs (and how it can help you market better) • Xero's 11 hour outage • Zoom apps • FreshBooks updates • Oodo gets a $215M investment
AICPA is trying to produce more accounting students by pitching guidance counselors on accounting careers, the elite (non-accounting) masters degrees that cost six figures, a really bad reason why grads should work 12-hour days 7 days per week, the sad state of accounting standards, Bill.com acquires Invoice2Go, finance chiefs still trying to replace Excel, and 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
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