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The Accounting Podcast
Trump's Tax Plans, IRS PPS Fraud, & PCAOB Drama
Nov 16, 2024
The hosts tackle the economic implications of Trump's election, discussing proposed tariffs that could reshape business landscapes and inflation. They dive into potential tax reforms, including corporate rate cuts and SALT cap changes. An alarming $47 million IRS fraud scheme targeting tax practitioners is revealed, raising concerns about security. The conversation also touches on the meteoric rise of Bitcoin, speculating about its future viability as a national currency amid increased market interest.
01:13:41
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Quick takeaways
- Trump's proposed economic policies could disrupt consumer prices and business stability, emphasizing the need for accountants to prepare clients for these changes.
- The alarming $47 million IRS fraud scheme underscores the vulnerability of tax practitioners, highlighting the importance of vigilance in financial practices.
Deep dives
OnPay's Endorsement and Market Reach
OnPay payroll is recognized by the American Dental Association as the only endorsed payroll app, making it a notable choice for various professional sectors, including dentists, farms, startups, restaurants, and gyms. This endorsement solidifies OnPay's reputation and indicates its versatility in handling payroll needs across diverse business types. The ability to provide services that cater to both traditional and modern business requirements enhances OnPay's standing in the payroll market, attracting clients who value efficiency and reliability. The episode highlights the importance of choosing the right payroll system, particularly in a complex regulatory environment.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode