Competition, profit persistence, and audit quality

Will IRS agents have to watch OnlyFans to police the new “no tax on tips” deduction? Blake and David unpack the wild twist: a study showing that women-led audit teams deliver higher-quality work at lower fees, and why AI could finally kill the billable hour. They hit PCAOB’s AI/PE crackdown, KPMG’s AI exam cheating, AI‑written financial reports, Meta’s off‑balance‑sheet data center, the IRS Math Act, and new child investment accounts. Walk away with policy context and practical tech takeaways.

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• (01:15) - New Tax Deduction for Digital Content Creators
• (02:27) - IRS Agents and OnlyFans Content
• (04:39) - IRS Telework Policy Changes
• (06:15) - Earmark CPE and Listener Interaction
• (09:25) - President's Statement on Federal Income Tax
• (13:15) - IRS Math Act and Senator Justice's Tax Issues
• (16:03) - Trump Accounts and PCAOB Scrutiny on AI
• (24:20) - Audit Quality and Gender Diversity
• (28:30) - KPMG AI Cheating Scandal
• (30:51) - AI's Impact on Time Savings in Various Industries
• (32:56) - The Role of AI in Accounting and Its Limitations
• (34:26) - AI in Financial Reporting and Business Processes
• (36:44) - The Decline of the Billable Hour Due to AI
• (47:01) - Meta's Controversial Accounting Practices
• (50:56) - Pilot's New Partner Program for Accountants
• (58:58) - Conclusion and Final Thoughts

Show Notes

Coming soon!

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Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page