The Cloud Accounting Podcast is the #1 accounting and bookkeeping podcast in the world! Join Blake Oliver and David Leary at the intersection of accounting and technology for a weekly news roundup, plus interviews with industry leaders.
IRS To Increase Audits On Small Business By 50%
Happy Almost Thanksgiving! Before we stuff ourselves senseless on socially distanced turkey, we're talking remote work, and compensation for all those work-from-home expenses. We'll also discuss why women are less likely than men to feel fairly compensated for those expenses. Then we'll dig into PPP news, with talks about how the IRS plans to increase audits on small businesses by 50% — and how that's a joke based on the latest numbers. Meanwhile, since the IRS is investigating fewer tax preparers, is fraud declining? We'll also hit on the various and sundry confusion points regarding PPP loan forgiveness, the AICPA's contentions with the IRS on penalty relief, and the PPP loan necessity questionnaires by the SBA, all while Mnuchin pulls the plug on some pandemic lending programs. In other news, we'll examine some of the top challenges of accounting firms in 2020, and ponder why over a third of Americans won't move to rural areas due to slow internet speeds. In app-ish news, we'll talk all things QuickBooks Connect (Virtual) 2020, QuickBooks Live, Intuit earnings, and why Xero investors should forget about the United States market. Enjoy!
Millennials Need Helicopter Accountants
With the holidays fast approaching, we talk about new ways to celebrate, at a healthy distance, of course. Inspired by feedback from Leary's theory on why Trump lost, we dive deep into the reasons, and logic behind it. Looking for some great practice management ideas for winning millennial clients? We've got 11 from Ryan Lazanis, founder of FutureFirm. In app news, we talk about how NetSuite's debut of an accounting partner program; Receipt Bank availability on QuickBooks Desktop via Right Networks, and we'll look at Xero's fast growth slowing down, while profits surge. In the world of taxes, Deutsche Bank calls for taxing remote workers for the privilege of working at home, others are considering the benefits of a wealth tax, and Blake sits down with CAP listener, Juventino Gaytan, NAVSEA accountant, to talk more about relocation, income taxes, and more!
How Trump's TCJA Caused Him to Lose
David Leary has a theory... that Donald Trump's tax cuts way back at the beginning of his presidency were ultimately what caused him to lose this election, and an Excel error leads to voter fraud accusations. In other news, we'll talk about why Walmart's abandoning shelf-scanning robots, how to double your client conversions, and just what Bill.com and Square earnings are telling us about the future of cloud accounting. In PPP news, we'll discuss how a judge ordered the SBA to reveal PPP loan data it sought to obscure, while evidence of PPP fraud mounts. We'll also talk about the income tax surprise waiting for remote workers in 2021, and why California fined KPMG $1.3M for cheating scandal. All this and more, right now!
Accounting Jobs Are Coming Back
While we wait to learn who's going to be in charge of the country, this episode is full of all the news that's good to know, including what accountants can learn from the 3 billion texts sent during this U.S. election, how employers are refilling open accounting jobs during the pandemic, and the future of remote work after the pandemic ends. There's more PPP-ish news, including how the SBA is pressing big businesses to justify the necessity of their PPP loan applications, more related frauds, and updates on the Main Street Lending program. Then, we dive into an all-you-can-eat buffet of app news from the likes of QuickBooks, FreshBooks, Lendio, Square, Stripe, and more!
Expensify Stand Down and Stand By
David Barrett, CEO of Expensify, emailed all 10 million users on Friday morning telling them that, “If you are a U.S. citizen, anything less than a vote for Biden is a vote against democracy.” Blake and David dive into the reactions from and impact on the accounting and bookkeeping community, including results from this week's Twitter survey. In app and fintech news, Jirav partners with CPA.com, Chase goes after Square, PayPal adds crypto, FreshBooks adds inventory, and Jetpack Workflow gets a new perspective. In news of a stranger nature, Accounting Seed makes an accounting board game, George Washington's Revolutionary War expense report. Finally, we balance the depressing political news with a spirit-boosting voicemail from another satisfied Cloud Accounting Podcast listener!
Ernst & Young Auditors Under Scrutiny After String of Massive Frauds
We're celebrating the passing of the final official tax deadline of 2020 with a huge slew of news! We'll dive into what E&Y has in common with a string of imploding firms. Then we'll Zoom into a wide array of updates and features that will take the yawn factor out of videoconferencing, and enhance employee safety, and enable hybrid workforces. If you've been itching to travel, a new study reveals that it's nearly impossible to catch COVID on a plane. Venturing into other news, we'll talk about Robinhood, and the lack of security in many newer fintech players, and we look at Revolut's play to get a bank charter in Cali. Then, we'll round out the party with some IRS updates, PPP happenings, and we'll also see who's not charging for PPP services. All this, and party favors! Enjoy!
Customer ReviewsSee All
Informative and entertaining
As a UK based accountant and software advisor I am limited as to resources of information on fintech and specifically cloud accounting tech (we really need a podcast over here).
I benefit greatly from the insights on this podcast and find the way it is delivered entertaining. I encourage anyone new to this field, or wanting to expand on their knowledge, to tune in and subscribe.
4 stars purely as you guys don’t make me laugh as much as the “blokes” on “from the trenches” ;)
Edit - changed to 5 stars. Enjoying the podcast more and more
Despite living in the UK it is interesting to hear what is happening in the US cloud accounting and being about the cloud makes it relevant to all. The presenters are great at explaining.
Not just for CPA’s
Whilst, understandably, there is a focus on what’s happening in the US this podcast does have a view of what is happening elsewhere and is certainly useful for a European based listener like me who has many clients with HQ’s in the US. It’s a good way to keep up with the multitude of changes happening across the industry that will affect us all; accountants and businesses.