Blake and David examine several significant developments, including TaxDome's data security incident, and the implications of China's DeepSeek AI model that caused Nvidia's stock to drop. They also dig into the White House's federal employee buyout offer that could impact IRS staffing levels and break down key findings from Accounting Today's 2025 Year Ahead survey about trends in remote work, tech spend, and AI adoption in accounting firms.

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• (00:24) - Introduction and Episode Overview
• (01:41) - Listener Shoutouts and Engagement
• (02:31) - Sports Banter and Mood Check
• (03:22) - Live Stream Interaction
• (05:11) - TaxDome Data Incident Discussion
• (22:24) - White House Buyout Offer for Federal Employees
• (31:26) - DeepSeek AI Model and Market Impact
• (36:24) - Exploring Perplexity's New DeepSeek R1 Model
• (36:58) - Comparing Reasoning Capabilities: R1 vs. ChatGPT
• (38:10) - The Google Search Analogy
• (39:16) - Concerns Over Unverified Financial Information
• (40:32) - Running AI Models on Personal Hardware
• (41:00) - Cost Implications for Businesses Using AI
• (42:59) - Innovation in Large vs. Small Firms
• (45:33) - Reforming the IRS: A New Approach
• (48:36) - Addressing the Accountant Labor Shortage
• (49:32) - Accounting Trends for 2025
• (57:00) - The Role of AI in Accounting Tools
• (59:56) - Frustrations with Current Accounting Software
• (01:05:33) - Final Thoughts

Show Notes

Deepseek R1 Explained by a Retired Microsoft Engineer

https://www.youtube.com/watch?v=r3TpcHebtxM

China’s DeepSeek AI dethrones ChatGPT on App Store: Here’s what you should know

https://www.cnbc.com/2025/01/27/chinas-deepseek-ai-tops-chatgpt-app-store-what-you-should-know.html

TaxDome reports security incident, says no sensitive data exposed

https://www.accountingtoday.com/news/taxdome-reports-data-breach 

Reporting system error official post-mortem

https://community.taxdome.com/c/resources/reporting-system-incident-official-post-mortem-794aebba-618b-4857-8aab-debca4e644ee 

TaxDome Post from Caleb Jenkins’ LinkedIn

https://www.linkedin.com/posts/calebjenkins1994_so-taxdome-can-you-tell-us-more-about-activity-7288762022882594816-X9eS?utm_source=share&utm_medium=member_desktop

Trump administration offers roughly 2 million federal workers a buyout to resign

https://www.nbcnews.com/politics/white-house/trump-administration-offer-federal-workers-buyouts-resign-rcna189661

Trump suggests sending IRS agents to the border

https://www.yahoo.com/news/trump-suggests-sending-irs-agents-233900348.html

Accounting in 2025: The year ahead in numbers

https://www.accountingtoday.com/list/accounting-in-2025-the-year-ahead-in-numbers

Top 10 AI accounting tools every business needs in 2025

https://www.accountancyage.com/2025/01/24/top-10-ai-accounting-tools-every-business-needs-in-2025/

Xero's new tagline: 'Your business supercharged'

https://www.accountingtoday.com/news/xero-announces-new-tagline-your-business-supercharged

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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