Blake and David discuss a controversial TurboTax ad campaign encouraging people to "break up" with their tax professionals, analyze survey data on AI adoption in accounting firms, and critically examine proposed changes to CPA licensure requirements. They also explore NASBA's influence on the profession end debate the merits of automatic mobility for CPAs across states.

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Chapters

(01:32) - Intuit's Controversial NFL Commercial
(03:52) - TurboTax's Pricing Strategy
(06:32) - Intuit's Market Strategy and Tax Pro Reactions
(12:55) - IRS Audit Rates and Challenges
(20:25) - EY India Tragedy and Work Culture
(27:18) - AI in Accounting: Adoption and Applications
(34:02) - Introduction to Perplexity
(37:09) - Empowering Your Team with AI
(39:11) - Challenges in CPA Firms
(42:30) - WorkflowCon 2024 Announcement
(44:15) - Changes to CPA Licensure
(49:06) - Critique of NASBA and AICPA
(57:02) - The Future of CPA Mobility
(01:10:44) - Conclusion and Call to Action

Show Notes

TurboTax 2024 Beat Your Price Commercial "Tax Break-Up" (Official TV Ad :30)

https://www.youtube.com/watch?v=GW7rfwO6_is

Intuit Hosts Investor Day, Reaffirms First-Quarter and Fiscal 2025 Guidance

https://investors.intuit.com/news-events/press-releases/detail/1215/intuit-hosts-investor-day-reaffirms-first-quarter-and-fiscal-2025-guidance

The State of AI in Accounting Report 2024

https://karbonhq.com/resources/state-of-ai-accounting-report-2024/

AICPA, NASBA propose a new pathway to CPA licensure

https://www.journalofaccountancy.com/news/2024/sep/cpa-competency-based-licensure-pathway.html

AICPA and NASBA Propose Changes to the Uniform Accountancy Act

https://www.masscpas.org/news/f339a29a-f278-4bc3-bf30-b1e10d198ca2:aicpa-and-nasba-propose-changes-to-the-uniform-accountancy-act

The Hazards of Redefining Mobility

https://nasba.org/blog/2024/09/19/the-hazards-of-redefining-mobility/

How Accounting Firms Can Overcome the Profit Plateau

https://www.accountingtoday.com/opinion/how-accounting-firms-can-overcome-the-profit-plateau

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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

Ep. 18: Downtown with The Drunken Canal (FREE SECTION)