The Importance of Tax Professionals and the Influence of Intuit, followed by Introduction to Relay Banking Solution

The speakers discuss the significance of working with a tax professional, challenges in the accounting industry, and the influence of Intuit. They then introduce Relay, a banking solution for accountants and their clients, highlighting its benefits and features.

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Episode notes

Blake and David discuss a wealth of timely topics, including the risks of filing taxes electronically versus by mail, the impact of the 150-hour rule on diversity in the accounting profession, and how major accounting firms are turning to private equity funding to accelerate growth. They also explore news from the artificial intelligence space, including Google's unveiling of Gemini, as well as ADP's new AI assistant, and examine how deepfake video calls enabled the theft of $25 million.

Sponsors
Relay - http://accountingpodcast.promo/relay
FreshBooks - http://accountingpodcast.promo/freshbooks
Airbase - http://accountingpodcast.promo/airbase

Chapters

(00:29) - Welcome to the show
(03:24) - Finance worker pays $25 million after video call with a deep fake of company CFO
(08:54) - Is QuickBook taking tax accountants' jobs?
(16:23) - Three AI accounting startups raise money funding round
(25:14) - Baker Tilly is now private-equity-owned
(27:32) - How much do the Big 4 spend on lobbying?
(31:52) - The Wall Street Journal's terrible opinion piece of E-filing
(38:25) - 13 states are suing the IRS for direct file system
(40:15) - MIT study on effects of 150-hour rule
(46:28) - Dual licensed CPAs and CMAs earn almost $40k more per year
(49:17) - Google releases Gemini and is retiring BARD
(53:33) - ADP launches ADP Assist
(56:48) - Gemini also now does AI art
(59:25) - Thanks for listening and please fill out our survey