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The Accounting Podcast

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Sep 30, 2022 • 58min

Tax Fraud as a Service

SponsorsLiveFlow: https://cloudaccountingpodcast.promo/liveflowuCollect: https://cloudaccountingpodcast.promo/ucollectLiscio: https://cloudaccountingpodcast.promo/liscioNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeShow Notes4:31 – Email from Stuart – Thank you! College Student Question - blake@earmarkcpe.com - Earmark Mailhttps://mail.google.com/mail/u/0/#inbox/FMfcgzGqQctTPHtxgLVLqVlXfzZDTwXq 7:51 – Email from Britney – Thank you! 8:28 – The robots are here. And they are making you fries.https://www.washingtonpost.com/business/2022/09/20/robots-automating-restaurant-industry/ 20:58 – A federal watchdog said $45.6 billion may have been stolen from a U.S. unemployment insurance program meant to help people laid off during the Covid-19 pandemichttps://www.wsj.com/articles/covid-19-unemployment-fraud-may-have-topped-45-billion-watchdog-estimates-11663876814 21:38 – U.S. Attorney Announces Federal Charges Against 47 Defendants in $250 Million Feeding Our Future Fraud Schemehttps://www.justice.gov/opa/pr/us-attorney-announces-federal-charges-against-47-defendants-250-million-feeding-our-future 22:13 – 'Crypto King' Has Luxury Cars Seized After $35 Million Vanisheshttps://gizmodo.com/crypto-king-bitcoin-price-luxury-cars-seized-35-million-1849561634 23:02 – SEC charges tech company with revenue manipulationhttps://www.accountingtoday.com/news/sec-charges-tech-company-vmware-with-license-key-based-accounting-scheme-to-manipulate-revenue 25:48 – Watch Skandal! Bringing Down Wirecardhttps://www.netflix.com/title/81404807 30:54 – Voicemail from Joe – Thank you! 32:09 – Message from John Pearce via CloudAccountingPodcast.com - blake@earmarkcpe.com - Earmark Mailhttps://mail.google.com/mail/u/0/#inbox/FMfcgzGqQcnkkBXXWrFMjRzlDcxbMJGc 33:42 – Message from Jeff Guldenschuh (Gold-N-Shoe) via CloudAccountingPodcast.com - blake@earmarkcpe.com - Earmark Mailhttps://mail.google.com/mail/u/0/#inbox/FMfcgzGqQSPxzQSPkRBMZKHfmnhStjnH?compose=new 45:33 – Email from Sarah – Thank you! Colorado now accepts cryptocurrency for tax payments | Accounting Todayhttps://www.accountingtoday.com/news/colorado-now-accepts-cryptocurrency-for-tax-payments 51:23 – Trump’s Former Accounting Firm Begins Turning Over Documents to Congresshttps://www.nytimes.com/2022/09/17/us/politics/mazars-accounting-trump-documents.html?smid=nytcore-ios-share&referringSource=articleShare 52:06 – Trump Is Sued for Fraud By New York State A.G. Letitia Jameshttps://www.nytimes.com/2022/09/21/nyregion/trump-fraud-lawsuit-ny.htmlGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsPodchaser: http://cloudacctpod.link/podchaserSpotify: http://cloudacctpod.link/SpotifyStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the link below to get more info.Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd Full Transcript Available Upon Request - info@cloudaccountingpodcast.com
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Sep 23, 2022 • 1h 10min

Quiet Quitting Your Accounting Job

SponsorsLiveFlow: https://cloudaccountingpodcast.promo/liveflowNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeShow Notes3:14 – The billionaire founder of Patagonia gave up the company to protect the planet. He may have skirted a $700 million tax bill in the process https://t.co/tUfG40ubQq— Bloomberg (@business) September 15, 2022 https://twitter.com/business/status/1570523789485801477 3:28 – Patagonia Founder Avoids $700 Million Tax Hit By Donating Companyhttps://www.bloomberg.com/news/articles/2022-09-15/patagonia-billionaire-who-gave-up-company-skirts-700-million-tax-hit DealBook: Taxagoniahttps://messaging-custom-newsletters.nytimes.com/template/oakv2?campaign_id=4&emc=edit_dk_20220916&instance_id=72090&nl=dealbook&productCode=DK&regi_id=103928575&segment_id=107219&te=1&uri=nyt%3A%2F%2Fnewsletter%2F1972582f-ea55-5a42-a974-fb0c427aca1d&user_id=238a5e61c9e3ba1f8e99bcc06b505749 17:59 – Quiet Quitters Make Up Half the U.S. Workforce, Gallup Says – WSJhttps://www.wsj.com/articles/quiet-quitters-make-up-half-the-u-s-workforce-gallup-says-11662517806 22:30 – Remote Workers Are Wasting More Than an Hour a Day on Productivity Theater, New Report Finds | Inc.comhttps://www.inc.com/jessica-stillman/productivity-asynchronous-remote-work.html 26:51 – Tips for managing remote workers - Journal of Accountancyhttps://www.journalofaccountancy.com/news/2022/jun/tips-managing-remote-workers.html 29:27 – The AICPA Has Written a Strongly-Worded Letter to the Treasury Department on Remote Workhttps://www.goingconcern.com/the-aicpa-has-written-a-strongly-worded-letter-to-the-treasury-department-on-remote-work/ 31:39 – Email from Ray – Thank you! 33:51 – Employers can track electronically much of what their workers do. But should they?https://www.wsj.com/articles/companies-track-workers-technology-11660935634 36:08 – Why Rural Americans Keep Waiting for Fast Internet, Despite Billions Spent – WSJhttps://www.wsj.com/articles/rural-broadband-internet-fcc-11655300008 36:55 – Hybrid Work Meetings Are Hell. Tech Is Trying to Fix Them.https://www.wsj.com/articles/meetings-are-broken-tech-is-trying-to-fix-them-11655292666 39:44 – Roofr Raises $12M to Advance SaaS Platform for Roofershttps://www.pymnts.com/news/investment-tracker/2022/roofr-raises-12m-to-advance-saas-platform-for-roofers/ 41:25 – Email from David Barrett – [Expensify] Automated payroll, taxes, and filings built into your subscription - blake@earmarkcpe.com - Earmark Mailhttps://mail.google.com/mail/u/0/#inbox/FMfcgzGqQSTbhvmcsxBhxtbhwxlpfrph 48:13 – Summit Hosting Acquires Tech Commandoshttps://www.prnewswire.com/news-releases/summit-hosting-acquires-tech-commandos-301623302.html 49:40 – That agent who sounds like they’re from Paris, Texas? Try Paris, France | TechCrunchhttps://techcrunch.com/2022/06/22/that-agent-who-sounds-like-theyre-from-paris-texas-try-paris-france/ 51:06 – Adyen to Become First FinTech Platform to Add Block’s Cash Apphttps://www.pymnts.com/news/mobile-payments/2022/adyen-to-become-first-fintech-platform-to-add-blocks-cash-app/ 52:38 – Visa, Mastercard, AmEx to start categorizing gun shop sales | AP Newshttps://apnews.com/article/gun-violence-shootings-new-york-city-politics-4aae50c67e40f9683f604a8683acc391 59:43 – Drunk Ethics – Greg Kyte – on Apple Podcastshttps://podcasts.apple.com/us/podcast/drunk-ethics/id1640305820Get in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts:
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Sep 15, 2022 • 1h 4min

Why Accountants Lose Money

SponsorsOnPay https://cloudaccountingpodcast.promo/onpayCanopy https://cloudaccountingpodcast.promo/canopyFreshBooks https://cloudaccountingpodcast.promo/freshbooksNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeShow Notes2:57 – Inside Bed Bath & Beyond, Concerns Over Mounting Stress for CFOhttps://www.wsj.com/articles/inside-bed-bath-beyond-concerns-over-mounting-stress-for-cfo-11662589539 Bed Bath & Beyond names interim CFO after Arnal's death | Accounting Todayhttps://www.accountingtoday.com/articles/bed-bath-beyond-names-interim-cfo-after-arnals-death Bed Bath & Beyond appoints accounting head as interim CFOhttps://kfgo.com/2022/09/06/bed-bath-beyond-appoints-accounting-head-as-interim-cfo/ Bed Bath & Beyond taps chief accounting officer as interim CFO after executive's suicidehttps://www.cnbc.com/2022/09/06/bed-bath-beyond-taps-chief-accounting-officer-as-interim-cfo-after-executives-death.html 9:17 – The Comedy Store Sues Moss Adams Over Missed $8.5 Million in COVID Relief Fundshttps://www.cpapracticeadvisor.com/2022/08/31/the-comedy-store-sues-moss-adams-over-missed-8-5-million-in-covid-relief-funds/70245/ 13:22 – EY Leaders Green Light Split Plan – WSJhttps://www.wsj.com/articles/ey-to-announce-breakup-plan-for-audit-and-advisory-businesses-11662639241 EY to Split Accounting and Consulting Businesseshttps://www.nytimes.com/2022/09/08/business/ey-ernst-young-split.html?partner=IFTTT 17:00 – Sex Worker Makes $300k A Year After Ditching Accounting Career For Work In A Brothelhttps://www.outkick.com/sex-worker-makes-300k-a-year-after-ditching-accounting-career-for-work-in-a-brothel/ 18:25 – EY Staffers Feel Left in the Dark After Death of Their Colleague Last Weekend - Going Concernhttps://www.goingconcern.com/ey-staffers-feel-left-in-the-dark-after-death-of-their-colleague-last-weekend/?utm_source=rss&utm_medium=rss&utm_campaign=ey-staffers-feel-left-in-the-dark-after-death-of-their-colleague-last-weekend 19:41 – KPMG sued for $830mn over ‘appalling’ Chinese audithttps://www.newsncr.com/business/kpmg-sued-for-830mn-over-appalling-chinese-audit/#:~:text=KPMG%20has%20been%20accused%20of,High%20Court%20heard%20on%20Monday. 23:10 – PwC sees audit quality improving | Accounting Todayhttps://www.accountingtoday.com/news/pwc-sees-audit-quality-improving 28:10 – Paycheck-to-paycheck Consumers Most Willing to Invest in Cryptohttps://www.pymnts.com/cryptocurrency/2022/paycheck-to-paycheck-consumers-most-willing-to-invest-in-crypto/ 29:59 – ‘Far too easy’ — Crypto researcher’s fake Ponzi raises $100K in hourshttps://cointelegraph.com/news/far-too-easy-crypto-researcher-s-fake-ponzi-raises-100k-in-hours 33:51 – US SEC Chair Gensler reiterates crypto stance, frustrating those seeking clarity | TechCrunchhttps://techcrunch.com/2022/08/23/us-sec-chair-gensler-reiterates-crypto-stance-frustrating-those-seeking-clarity/ Gary Gensler's gross SEC overreach | Fox Businesshttps://www.foxbusiness.com/features/gary-gensler-gross-sec-overreach The SEC Treats Crypto Like the Rest of the Capital Marketshttps://www.wsj.com/articles/the-sec-treats-crypto-like-the-rest-of-the-capital-markets-disclosure-compliance-security-investment-mutual-fund-protections-blockfi-bankruptcy-bitcoin-11660937246 36:06 – Email from Ron Baker – Thank you! 40:48 – TriNet acquires Clarus R+D | Accounting Todayhttps://www.accountingtoday.com/news/trinet-acquires-clarus-r-d 44:32 – Credit Karma will pay $3 million to users targeted with false preapproved offershttps://www.npr.org/2022/09/06/1121246081/credit-karma-false-ftc-preapproved-credit-card 46:20 – Accountants try to avoid awkward conversations with clients and it costs them | Accounting Todayhttps://www.accountingtoday.com/news/accountants-try-to-avoid-awkward-conversations-with-clients-and-it-costs-them 51:39 – Sage and Square® partner to help small businesses take morehttps://www.globenewswire.com/news-release/2022/09/08/2512593/0/en/Sage-and-Square-partner-to-help-small-businesses-take-more-control-of-their-finances.html Sage, Square Combine Accounting, PO...
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Sep 9, 2022 • 1h 7min

Bad Bookkeeping

SponsorsJirav: https://cloudaccountingpodcast.promo/jiravLiscio: https://cloudaccountingpodcast.promo/liscioRelay: https://cloudaccountingpodcast.promo/relayNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeShow Notes2:02 – Review from Scott Michael Collier – Thank you! 4:49 – PwC Manager is Suing the Firm After He Lost a Chunk of His Skull at a Drunken Work Event - Going Concernhttps://www.goingconcern.com/pwc-manager-is-suing-the-firm-after-he-lost-a-chunk-of-his-skull-at-a-drunken-work-event/ 8:04 – Ernst and Young employee, 33, found dead at Sydney office after Friday night work drinkshttps://www.news.com.au/finance/work/at-work/ernst-and-young-employee-33-found-dead-at-sydney-office-after-friday-night-work-drinks/news-story/53f85fe1c0d9d96c461e9963f662a040 10:26 – Top House Intel Republican downplays Trump's records-handling: 'More of a bookkeeping issue'https://www.washingtonexaminer.com/news/politics/house-intelligence-gop-trump-docs-not-security-threat 12:16 – Crypto.com mistakenly sent a customer $7.2 million instead of a $68 refund - The Vergehttps://www.theverge.com/2022/8/31/23330458/crypto-dot-com-typo-mistake-refund-audit 17:41 – PCAOB, China sign agreement opening door for inspections - Journal of Accountancyhttps://www.journalofaccountancy.com/news/2022/aug/pcaob-china-sign-agreement-opening-door-inspections.html PCAOB observed problems during audits of SPACshttps://www.accountingtoday.com/news/pcaob-observed-problems-during-audits-of-spacs 19:27 – California Passes Radical AB 257 Fast-Food Legislationhttps://www.uschamber.com/employment-law/unions/california-passes-radical-ab-257-fast-food-legislation California Fast Food Wages Would Be Set by Government Under Bill Passed by State Legislaturehttps://www.wsj.com/articles/california-fast-food-wages-would-be-set-by-government-under-bill-passed-by-state-senate-11661811509 California QSRs Push Back Against Wage Billhttps://www.pymnts.com/news/regulation/2022/california-qsrs-push-back-against-wage-bill/ 21:39 – As prices rise, CFOs turn toward automation to control costs | Accounting Todayhttps://www.accountingtoday.com/news/as-prices-rise-cfos-turn-towards-automation-to-control-costs 26:45 – Wassia Kamon, CPA, CMA, MBA on LinkedIn: Top 10 Accounting and Finance Certifications | 177 commentshttps://www.linkedin.com/posts/wassiakamon_top-10-accounting-and-finance-certifications-activity-6962807548219445248-Y35M 29:43 – Email from Joseph – Thank you! 34:16 – Voicemail from Elliot – Thank you! 43:04 – Intuit unveils new logo design | Accounting Todayhttps://www.accountingtoday.com/news/intuit-unveils-new-logo-design It’s a brand new day for Intuit!https://www.intuit.com/blog/news-social/unveiling-our-new-intuit-logo/ 45:22 – Intuit's (INTU) Earnings and Revenues Surpass Estimates in Q4 (Revised)http://www.zacks.com/stock/news/1972710/intuit-s-intu-earnings-and-revenues-surpass-estimates-in-q4-revised?cid=CS-ZC-FT-analyst_blog|earnings_article-1972710 Intuit's (INTU) Earnings and Revenues Surpass Estimates in Q4http://www.zacks.com/ Intuit Inc. (INTU) CEO Sasan Goodarzi on Q4 2022 Results - Earnings Call Transcripthttps://seekingalpha.com/article/4536551-intuit-inc-intu-ceo-sasan-goodarzi-on-q4-2022-results-earnings-call-transcript Intuit (INTU) Q4 Earnings and Revenues Beat Estimateshttps://www.zacks.com/stock/news/1971565/intuit-intu-q4-earnings-and-revenues-beat-estimates Intuit Reports Strong Full Year Results and Sets Fiscal 2023 Guidance | Business Wirehttps://www.businesswire.com/news/home/20220823005060/en/Intuit-Reports-Strong-Full-Year-Results-and-Sets-Fiscal-2023-Guidance 48:34 – MyCase Rolls Out Built-In Accounting and Integrated Document Automationhttps://www.lawnext.com/2022/08/mycase-rolls-out-built-in-accounting-and-integrated-document-automation.html MyCase Announces Release of Accounting and Robust Document Automation Integration, Further Enhancing Legal Tech Platformhttps://www.businesswire.com/news/home/20220831005177/en/MyCase-Announces-Release-of-Accounting-and-Robust-Document-Automation-Integration-Further-Enhancing-Legal-Tech-Platform 49:56 – Intuit releases automated tax advisory solution in move towards...
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Sep 1, 2022 • 1h 12min

Student Loan Forgiveness Versus PPP Forgiveness

SponsorsRelay: https://cloudaccountingpodcast.promo/relayuCollect: https://cloudaccountingpodcast.promo/ucollectCanopy: https://cloudaccountingpodcast.promo/canopyNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeShow Notes1:58 – Xero announces new initiatives, partnerships at Xerocon user conferencehttps://www.accountingtoday.com/news/xero-announces-new-initiatives-partnerships-at-xerocon-user-conference          Xero Small Business Insights expands to the United States and Canada, providing timely updates on state of small business https://www.xero.com/blog/2022/08/xsbi-expands-to-us-and-canada/ Product wrap from Xerocon New Orleans 2022 | Xero Bloghttps://www.xero.com/blog/2022/08/xerocon-new-orleans-product-wrap/ Avalara partners with Xero to make automated sales tax solution | Accounting Todayhttps://www.accountingtoday.com/news/avalara-partners-with-xero-to-make-automated-sales-tax-solution That’s a wrap for Xerocon New Orleans 2022https://www.xero.com/blog/2022/08/xerocon-new-orleans-wrap/ 21:31 – Biden to forgive $10K in student debt, double for Pell grant recipients | Accounting Todayhttps://www.accountingtoday.com/articles/biden-to-forgive-10k-in-student-debt-double-for-pell-grant-recipients Biden to cancel up to $10K in student loan debt for borrowers making under $125K : NPRhttps://www.npr.org/2022/08/24/1118879917/student-loan-forgiveness-biden 24:08 – White House shines light on Republicans who are criticizing student debt cancellation after getting their PPP loans forgivenhttps://www.nbcnews.com/politics/white-house/white-house-shines-light-republicans-are-criticizing-student-debt-canc-rcna44904 What the student debt forgiveness plan would mean for taxpayers and the U.S. economy | Accounting Todayhttps://www.accountingtoday.com/news/what-the-student-debt-forgiveness-plan-would-mean-for-taxpayers-and-the-u-s-economy 34:12 – Secret Service returns $286 million in fraudulent pandemic loans to the Small Business Administrationhttps://www.cnbc.com/2022/08/26/secret-service-returns-fraudulent-pandemic-loans-to-small-business-administration.html 36:22 – Cross River Bank’s PPP Lending Practices Raise Questionshttps://www.pymnts.com/loans/2022/cross-river-banks-ppp-lending-practices-raise-questions/ 37:11 – The IRS could be on the verge of changing the way Americans file their taxes | The Hillhttps://thehill.com/homenews/3607174-the-irs-could-be-on-the-verge-of-changing-the-way-americans-file-their-taxes/ 40:53 – Ex-BDO IT Audit Manager Raissa Kengne Charged in Deadly Atlanta Shooting (UPDATE) - Going Concernhttps://www.goingconcern.com/atlanta-shooting-suspect-bdo-usa/ Former BDO audit manager shot and killed ex-boss | Accounting Todayhttps://www.accountingtoday.com/news/former-bdo-audit-manager-shot-and-killed-ex-boss r/Accounting - Ex-BDO Auditor Kills One, Injures Two in Atlantahttps://www.reddit.com/r/Accounting/comments/wv6jdw/exbdo_auditor_kills_one_injures_two_in_atlanta/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Ex-BDO IT Audit Manager Raissa Kengne Charged in Deadly Atlanta Shooting (UPDATE)https://www.goingconcern.com/atlanta-shooting-suspect-bdo-usa/ 43:06 – Atlanta Shooting Suspect Gave Cybersecurity Talk About ‘Fraud in Accounting,’ Accused Victims of Committing Accounting Fraud on LinkedInhttps://www.vice.com/en/article/v7v7vj/atlanta-shooting-suspect-raissa-kengne-linkedin-lawsuit-cybersecurity-talk 46:12 – IRS will wipe away $1.2B in late fees from pandemic | Accounting Todayhttps://www.accountingtoday.com/articles/irs-will-wipe-away-1-2b-in-late-fees-from-pandemic IRS relieves penalties for 2019 and 2020https://www.journalofaccountancy.com/news/2022/aug/irs-relieves-penalties-for-2019-2020.html 47:23 – KPMG to relocate NYC HQ as it downsizes office space | Accounting Todayhttps://www.accountingtoday.com/news/kpmg-to-relocate-nyc-hq-as-it-downsizes-office-space 48:39 – Voicemail from Tyler Otto – Thank you! (1) davidleary on Twitter: "YES, YOU NEED TO FIND A NEW #Accountant!!! Craziest shit I've seen about #QuickBooks Desktop I've seen in a decade! https://t.co/cqxDUL3jRf"https://twitter.com/davidleary/status/1562093434801819650 53:30 – ▪David Leary▪ on LinkedIn: #Accountant #QuickBooks | 95 comments
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Aug 25, 2022 • 1h 7min

Trump CFO Pleads Guilty to Tax Fraud

SponsorsFreshBooks https://cloudaccountingpodcast.promo/freshbooksRelayFI https://cloudaccountingpodcast.promo/relayLiscio https://cloudaccountingpodcast.promo/liscioNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeShow Notes1:46 – 🚀Big news from David Leary and Blake Oliver! 🚀https://www.linkedin.com/pulse/big-news-from-david-leary-blake-oliver-david-leary-/ 2:14 – Dotcom Pioneer AccountingWEB Shuts Down - CPA Trendlineshttps://cpatrendlines.com/2022/08/18/dotcom-pioneer-accountingweb-shuts-down/ 3:43 – Sift to Close AccountingWEB US Divisionhttps://www.sift.co.uk/blog/sift-closes-accountingweb-us/ 5:58 – IRS issues immediate guidance for EV credits under Inflation Reduction Acthttps://www.accountingtoday.com/opinion/irs-issues-immediate-guidance-for-ev-credits-under-inflation-reduction-act 7:24 – Yellen sets six-month timeline for IRS plan to target tax cheats | Accounting Todayhttps://www.accountingtoday.com/articles/yellen-sets-six-month-timeline-for-irs-plan-to-target-tax-cheats Yellen: These are the 4 priorities for the $80 billion in IRS fundinghttps://www.cnbc.com/2022/08/18/yellen-these-are-the-4-priorities-for-the-80-billion-in-irs-funding.html IRS Funding: Inflation Reduction Act IRS Tax Enforcement Provisionshttps://taxfoundation.org/inflation-reduction-act-irs-funding/ 11:21 – Inflation Reduction Act potentially doubles R&D tax credit | Accounting Todayhttps://www.accountingtoday.com/news/inflation-reduction-act-potentially-doubles-r-d-tax-credit 15:00 – Prosecutors Struggle to Catch Up to a Tidal Wave of Pandemic Fraudhttps://www.nytimes.com/2022/08/16/business/economy/covid-pandemic-fraud.html COVID Fraud Could Hit $163B, Experts Sayhttps://www.pymnts.com/news/security-and-risk/2022/covid-fraud-could-hit-163b-experts-say/ Bills extend statute of limitation for prosecuting PPP, EIDL fraud - Journal of Accountancyhttps://www.journalofaccountancy.com/news/2022/aug/bills-extend-statute-limitation-prosecuting-ppp-eidl-fraud.html 18:06 – A Plethora of Pandemic PPP Fraud – Oh My Fraudhttps://ohmyfraud.com/episodes/ppp-placeholder 19:28 – Trump Organization, CFO tax-fraud trial to begin Oct. 24 | Accounting Todayhttps://www.accountingtoday.com/articles/trump-organization-cfo-tax-fraud-trial-to-begin-oct-24 Ex-finance chief of the Trump Organization Allen Weisselberg pleads guilty to tax crimeshttps://www.wsj.com/articles/former-trump-organization-finance-chief-pleads-guilty-to-tax-crimes-11660834259 23:32 – Tether said it switched the accounting firm that signs off on its attestation reports to BDO Italiahttps://www.wsj.com/articles/biggest-stablecoin-issuer-tether-switches-accounting-firm-to-bdo-italia-11660795062 Bankrupt Crypto Brokerage Voyager Ordered to Cease False Promises About U.S. Banking Insurance – WSJhttps://www.wsj.com/articles/bankrupt-crypto-brokerage-voyager-ordered-to-cease-false-promises-about-u-s-banking-insurance-11659044094 Voyager customers beg New York judge for money back after bankruptcyhttps://www.cnbc.com/amp/2022/08/15/voyager-customers-beg-new-york-judge-for-money-back-after-bankruptcy.html 32:41 – Revenue from crypto scams down 65%, crypto hacks up 58% | Accounting Todayhttps://www.accountingtoday.com/news/revenue-from-crypto-scams-down-65-crypto-hacks-up-58 34:21 – IRS expands crypto question on draft version of 1040 | Accounting Todayhttps://www.accountingtoday.com/news/irs-expands-crypto-question-on-draft-version-of-1040 36:51 – TikTok: Mid range-entry level pay bands for Deloittehttps://www.tiktok.com/t/ZTRyYgTKT/ 40:47 – Request Finance Introduces ‘Salaries’ Feature to Automate Crypto Payrollhttps://ffnews.com/newsarticle/request-finance-introduces-salaries-feature-to-automate-crypto-payroll/ 44:41 – Latest product news — August 2022 | Xero Bloghttps://www.xero.com/blog/2022/08/product-news-august-2022/ 48:16 – Sage Launches Canadian Sage Payroll Versionhttps://www.intuitiveaccountant.com/in-the-news/people-and-business/sage-launches-canadian-sage-payroll-version/ Sage acquires accounting software provider Lockstep | Accounting Todayhttps://www.accountingtoday.com/news/sage-acquires-accounting-software-provider-lockstep Sage to acquire Lockstep
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Aug 18, 2022 • 1h 23min

What Is A Fair IRS Audit Rate?

SponsorsOnPay: https://cloudaccountingpodcast.promo/onpayFreshBooks: https://cloudaccountingpodcast.promo/freshbooksCanopy: https://cloudaccountingpodcast.promo/canopyNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeShow Notes2:25 – davidleary on Twitter: "How come @amazon can do this with a $20 picture frame ...but @Ford can't do it with a $50k automobile? How do you lose a Mustang #MachE?!?!!?!? I find it hard to believe that a company puts millions $$$ of automobiles on train cars ...and can't track them. cc @jimfarley98 https://t.co/YmHTXsbqlR"https://twitter.com/davidleary/status/1558108425724108801 9:04 – How will the IRS use $80B in funding it could receive from the Inflation Reduction Act?https://www.morningbrew.com/daily/stories/IRS-funding-80-billion-inflation-reduction-act 14:01 – Tax Compliance:Trends of IRS Audit Rates and Results for Individual Taxpayers by Incomehttps://www.gao.gov/products/gao-22-104960#:~:text=From%20tax%20years%202010%20to,0.9%20percent%20to%200.25%20percent. 22:10 – Twitter: What % of individual income tax returns should the IRS audit?https://twitter.com/blaketoliver/status/1557876501789286400?s=12&t=QCA6FrS6BD8_eXrAlVoxMA 27:29 – IRS Deletes Job Posting Seeking Applicants Willing to ‘Use Deadly Force’ | National Reviewhttps://www.nationalreview.com/news/irs-deletes-job-posting-seeking-applicants-willing-to-use-deadly-force/ 29:26 – Tweet by Adam Markowitzhttps://twitter.com/adammarkowitzea/status/1555548397389635587?s=12&t=XCaiAZbt78Tt-0fan9Qbzw 31:15 – Hyperbolic GOP claims about IRS agents and audits - The Washington Posthttps://www.washingtonpost.com/politics/2022/08/11/hyperbolic-gop-claims-about-irs-agents-audits/ 53:09 – Opinion | Inside the IRS ‘Pipeline’ used to process tax returns - Washington Posthttps://www.washingtonpost.com/opinions/interactive/2022/irs-pipeline-tax-return-delays/ 57:57 – AICPA demands IRS answer calls on 'plummeting' practitioner priority phone linehttps://www.accountingtoday.com/news/aicpa-demands-irs-answer-calls-on-plummeting-practitioner-priority-phone-line 59:59 – AICPA weighs in on Inflation Reduction Acthttps://www.accountingtoday.com/news/aicpa-weighs-in-on-inflation-reduction-act Private-equity lobbyists have won their latest battle to preserve the carried-interest tax break.https://www.wsj.com/articles/how-the-private-equity-lobby-wonagain-11659834467 1:03:59 – Avalara To Go Private With $8.4B Acquisition By Vista Equityhttps://www.crn.com/news/applications-os/avalara-to-go-private-with-8-4b-acquisition-by-vista-equity Avalara to be bought by private investment firmhttps://www.accountingtoday.com/news/avalara-to-be-bought-by-private-investment-firm-vista 1:05:40 – Mailchimp Bans Crypto Companies Againhttps://thedigitalsanctuary.org/mailchimp-bans-crypto-companies-again/ 1:06:05 – Mark Cuban, Mavericks in hot water over Voyager 'Ponzi scheme'https://techcrunch.com/2022/08/11/mark-cuban-mavericks-face-lawsuit-over-crypto-voyager-ponzi-scheme/ 1:08:49 – Letter from Tom Herbert – Thank you! 1:10:00 – Message from Aileen Asche via CloudAccountingPodcast.com - blake@earmarkcpe.com - Earmark Mailhttps://mail.google.com/mail/u/0/#inbox/FMfcgzGqPpcnhlBpXnRkSWrVbWgxNFTq 1:11:58 – Message from Brian – Thank you!Get in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsPodchaser: http://cloudacctpod.link/podchaserSpotify: http://cloudacctpod.link/SpotifyStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/Overcast
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Aug 11, 2022 • 1h 20min

Broken CPA Supply Chain

SponsorsCanopy: https://www.cloudaccountingpodcast.promo/canopyLiscio: https://www.cloudaccountingpodcast.promo/liscioLiveFlow: https://cloudaccountingpodcast.promo/liveflowNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeShow Notes03:41 – Firms big and small are facing a crisis. There's not enough accountants (CPAs) : The Indicator from Planet Money : NPRhttps://www.npr.org/2022/08/04/1115790852/if-the-world-had-no-accountants The Indicator from Planet Money : NPRhttps://www.npr.org/2022/08/04/1115790852/if-the-world-had-no-accountants The Indicator from Planet Moneyhttps://pca.st/tLRP 06:03 – How to fix the leaky CPA pipelinehttps://www.mncpa.org/resources/publications/footnote/august-september-2022/how-to-fix-the-leaky-cpa-pipeline/ 17:04 – U.S. job growth seen slowing in July; but far from recession levels | Reutershttps://www.reuters.com/markets/us/us-job-growth-seen-slowing-july-far-recession-levels-2022-08-05/ Despite a drop in June, job openings remain well above the number of people unemployed but looking for workhttps://www.wsj.com/articles/job-openings-hiring-economy-june-2022-11659388973 22:05 – DealBook: A tax loophole’s powerful defenderhttps://messaging-custom-newsletters.nytimes.com/template/oakv2?campaign_id=4&emc=edit_dk_20220805&instance_id=68516&nl=dealbook&productCode=DK&regi_id=103928575&segment_id=100533&te=1&uri=nyt%3A%2F%2Fnewsletter%2Fc8714674-e316-52c1-bf11-83af763fd4a7&user_id=238a5e61c9e3ba1f8e99bcc06b505749 DealBook: The new power brokers on taxeshttps://messaging-custom-newsletters.nytimes.com/template/oakv2?campaign_id=4&emc=edit_dk_20220804&instance_id=68424&nl=dealbook&productCode=DK&regi_id=103928575&segment_id=100423&te=1&uri=nyt%3A%2F%2Fnewsletter%2F01624dbe-566d-5ac1-8a90-419f9a88508c&user_id=238a5e61c9e3ba1f8e99bcc06b505749 25:02 – Two SEC Commissioners Frown on Accounting Rules for ESG Issueshttps://news.bloombergtax.com/financial-accounting/two-sec-commissioners-frown-on-accounting-rules-for-esg-issues Comment on the Financial Accounting Foundation Draft Strategic Planhttps://www.sec.gov/news/statement/peirce-uyeda-statement-draft-financial-accounting-foundation-strategic-plan-072222 30:05 – Founder of My Big Coin Convicted of Fraudhttps://www.pymnts.com/cryptocurrency/2022/founder-of-my-big-coin-convicted-of-fraud/ Titanium Blockchain CEO Pleads Guilty in $21M Crypto Fraud Casehttps://www.pymnts.com/legal/2022/titanium-blockchain-ceo-pleads-guilty-in-21m-crypto-fraud-case/ SEC insider trading case against Coinbase holds larger implicationshttps://www.accountingtoday.com/news/sec-insider-trading-case-against-coinbase-holds-larger-jurisdictional-implications Millions Drained in Solana Wallet Hackhttps://www.pymnts.com/news/security-and-risk/2022/millions-drained-in-solana-wallet-hack/ Two settle with Securities and Exchange Commission over alleged $300 million cryptocurrency Ponzi schemehttps://www.accountingtoday.com/news/two-settle-with-securities-and-exchange-commission-over-alleged-300-million-cryptocurrency-ponzi-scheme 31:44 – Web3 network Helium claims rideshare company Lime is one of its biggest clients. Lime says that's not true. | Mashablehttps://mashable.com/article/helium-lime-web3-crypto 35:58 – Hackers Force a $4B Question: Can DeFi Ever Be Safe?https://www.pymnts.com/cryptocurrency/2022/hackers-force-a-4b-question-can-defi-ever-be-safe/ 37:59 – Georgia residents can claim an embryo as a dependent on tax returnshttps://twitter.com/thehill/status/1554491493569667073?s=12&t=vkja1dbRfIlSLC16YvOusg 39:34 – Tesla’s Bitcoin dump leaves accounting mystery in its wake | Accounting Todayhttps://www.accountingtoday.com/articles/teslas-bitcoin-dump-leaves-accounting-mystery-in-its-wake Tesla Records $170 Million Impairment Charge on Bitcoin – WSJhttps://www.wsj.com/articles/tesla-records-170-million-impairment-charge-on-bitcoin-11658751201 40:50 – Ernst & Young Split Plan Held Up by Debt Issues – WSJ
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Aug 3, 2022 • 54min

Join Us In Italy!*

SponsorsLiveFlow: https://cloudaccountingpodcast.promo/liveflowCanopy: https://cloudaccountingpodcast.promo/canopyLiscio: https://www.cloudaccountingpodcast.promo/liscioNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeMeet Billy DeClercqLinkedIn: https://www.linkedin.com/in/declercqwbWebsite: https://declercq.law/about.phpShow NotesThe Invite: https://drive.google.com/file/d/11Jere06NPnSziLqGONdqflqQCov6a1In/viewGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsPodchaser: http://cloudacctpod.link/podchaserSpotify: http://cloudacctpod.link/SpotifyStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsGetW9: getw9.taxRoyalwise Solutions: learn.royalwise.comWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the link below to get more info.Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd Full Transcript Available Upon Request - info@cloudaccountingpodcast.com
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Jul 28, 2022 • 1h 18min

Accountants Voted Best Kissers

SponsorsCanopy: https://www.cloudaccountingpodcast.promo/canopyLiscio: https://www.cloudaccountingpodcast.promo/liscioRelay: https://www.cloudaccountingpodcast.promo/relayNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeShow Notes1:11 – Accountants are voted the best kissers in Britain ahead of doctors and nurses | Daily Mail Onlinehttps://www.dailymail.co.uk/news/article-10953579/Accountants-voted-best-kissers-Britain-ahead-doctors-nurses.html 4:34 – How Will ESG Impact be Measured?https://www.cfo.com/accounting-tax/disclosure/2022/07/esg-disclosures-impact-accounting-regulation/ 8:19 – Tesla sells 75% of its bitcoin as profits slump due to production challengeshttps://www.theguardian.com/technology/2022/jul/20/tesla-second-quarter-earnings-elon-musk 9:09 – FBI warns $42.7 million stolen via fake crypto trading appshttps://www.accountingtoday.com/news/fbi-warns-42-7-million-stolen-via-fake-crypto-trading-apps 11:14 – FASB Scraps Project on Goodwill Accounting, Disclosure – WSJhttps://www.wsj.com/amp/articles/fasb-scraps-project-on-goodwill-accounting-disclosure-11655317940 15:05 – Inflation Puts Spotlight on Companies’ Use of Last-In, First-Out Accounting – WSJhttps://www.wsj.com/articles/inflation-puts-spotlight-on-companies-use-of-last-in-first-out-accounting-11656322200?mod=pls_whats_news_us_business_f 19:07 – EY suffers payroll problem | Accounting Todayhttps://www.accountingtoday.com/news/ey-suffers-payroll-problem 21:16 – Is remote work effective: We finally have the data | McKinseyhttps://www.mckinsey.com/industries/real-estate/our-insights/americans-are-embracing-flexible-work-and-they-want-more-of-it 92 million US workers now have the opportunity to work remotely: survey - The Vergehttps://www.theverge.com/2022/6/28/23186112/us-flexible-remote-hybrid-work-survey-mckinsey 25:50 – Cherry Bekaert receives private equity funding from Parthenon Capital | Accounting Todayhttps://www.accountingtoday.com/news/cherry-bekaert-receives-private-equity-funding-from-parthenon-capital 26:37 – Two U.S. Attorneys are investigating Kabbage’s PPP lending | Miami Heraldhttps://www.miamiherald.com/news/local/crime/article263376788.html 31:47 – Xerocon London updates – Recorderhttps://recorder.google.com/share/424be2ce-ba19-4fc6-8377-a6fd5b149552 Xero releases Xero Go app to provide basic accounting to small business owners, freelancershttps://www.accountingtoday.com/news/xero-releases-xero-go-app-to-provide-basic-accounting-to-small-business-owners-freelancers Announcing Xero Go: Our new app for UK-based sole tradershttps://www.xero.com/blog/2022/07/xero-go-for-uk-based-sole-traders/ 38:02 – Xero reveals future of accountinghttps://gadget.co.za/xero-reveals-future-of-accounting/ 38:48 – Announcing Excel Live - Transform Microsoft Teams meetings with real-time collaboration - Microsoft Tech Communityhttps://techcommunity.microsoft.com/t5/microsoft-365-blog/announcing-excel-live-transform-microsoft-teams-meetings-with/ba-p/3573371 41:28 – Sage deepens Microsoft partnership and “unveils” Sage Active –https://www.enterprisetimes.co.uk/2022/07/20/sage-deepens-microsoft-partnership-and-unveils-sage-active/ 43:46 – Accountants: How to Manage Your Clients’ Chart of Accounts in FreshBooks | FreshBooks Bloghttps://www.freshbooks.com/blog/manage-client-chart-of-accounts 47:16 – NetSuite rolls out new Smart Count solution plus improvements to Analytics Warehouse | Accounting Todayhttps://www.accountingtoday.com/news/netsuite-rolls-out-new-smart-count-solution-plus-improvements-to-analytics-warehouse 49:07 – Why did Intuit decide to stop offering QuickBooks in India?https://www.mmcconvert.com/blog/intuit-stop-offering-quickbooks-in-india/ Discontinuation of QuickBooks in Indiahttps://quickbooks.intuit.com/in/notice/ Zoho to hire 2,000 people, expand operations in India, abroadhttps://economictimes.indiatimes.com/tech/startups/zoho-plans-to-hire-2000-workers-for-indian-and-global-expansion/articleshow/92940061.cms 52:06 – Voicemail from Donnie Shimamoto – Thank you! Email from Keith – Thank you!Get in TouchThanks for listening and for...

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