Paychex THRIVE, a Business Podcast Paychex, Inc.

Jodi Ann Ray, CEO of the Texas Society of CPAs, talks about the efforts of TXCPA to create a better pipeline in the accounting profession that faces gaps with an upcoming retirement wave, including leveraging AI and other technology to drive growth and expand the advisory role of CPAs. She also acknowledges the need for more diversity and inclusion in the profession, including the rise of women in leadership roles, in her conversation with Gene Marks on Paychex THRIVE, a Business Podcast.
Topics Include:00:00:00: Episode Preview00:01:22: Introduction of Jodi Ann Ray
00:03:37: Discussion about variations between CPA groups
00:04:03: The role of CPAs in society
00:05:20: Discussion about the diversity in CPA groups
00:06:45: Discussion about female leadership in CPA groups
00:08:36: Services provided by Texas CPA society
00:09:25: Importance of advocacy by Texas Society of CPAs
00:12:38: What are the demographics of CPA firms in Texas
00:13:25: Recruitment solutions for CPA professionals
00:17:10: Opportunities in CPA profession
00:18:34: The versatility of the CPA profession
00:21:32: CPE credits
00:25:11: Impact of AI in the accounting profession
00:30:24: Wrap-up and thank you
 
DISCLAIMER:The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

On this episode of Paychex THRIVE, distinguished labor economist and Harvard professor Dr. Richard Freeman joins host Gene Marks to navigate the future of work in an era of rapid technological advancement. With the rise of artificial intelligence (AI) and significant shifts in labor economics, the debate around employee ownership becomes more relevant. Dr. Freeman paints a compelling picture of a future where workers share the fruits of innovation and are not left behind by technological advancements. Tune in as he encourages listeners to consider employee ownership structures to boost productivity, foster a sense of shared investment, and ensure equitable distribution of AI-induced wealth.
 
00:00: Episode preview and welcome
01:34: Introduction of Dr. Richard Freeman
02:19: Discussion on AI’s impact on labor
07:06: AI as a potential solution to global problems
10:29: History of job replacement by technology
11:35: Impact of AI on jobs and opportunities
15:12: Discussion on employee ownership
18:15: The benefits of employee ownership
21:00: The tax advantages of employee-owned businesses
22:04: Possible reasons for low growth in employee ownership
24:51: Differences between ESOP and other forms of ownership
27:32: Historical perspective on American democracy and work
28:38: Richard’s ideals ownership scenario
34:15: Wrap-up and thank you
 
DISCLAIMER:The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Federal agencies got on a roll last week by announcing three new regulations that will change how businesses deal with protecting proprietary information, handling overtime and the classifying of exempt and non-exempt employees, and the use of broadband services. Gene Marks shares some thoughts on each of these pocketbook issues and how businesses might approach prior to the rules going into effect. 
DISCLAIMER:The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Jennifer Cryder, CEO of the Pennsylvania Institute of CPAs (PICPA), spells out some of the challenges facing CPAs and their firms, largely around hot having clients understand the value of a CPA’s advisory role and sometimes a CPA not grasping the idea that they are advisers. The accounting profession, like almost all industry sectors, faces issues with recruiting and retaining talent. Cryder’s conversation with Gene Marks on Paychex THRIVE, a Business Podcast, sheds some light on how her state association is addressing issues of modernization through AI, professional development, and rethinking the business model firms have used for decades.
Topics Include:
00:00:00: Episode Preview
00:00:54: Introduction of Jennifer Cryder
00:02:12: Challenges facing CPA profession
00:03:24: Examples of challenges, including talent acquisition
00:04:43: Future of CPA firms and the advisory role
00:10:11: What’s happened to the small, local firms?
00:13:26: The value a CPA can offer
00:16:35: Recruiting challenges in the CPA profession
00:19:18: Initiatives For Retaining Good Talent
00:23:09: Metrics and job evaluation
00:27:18: Advice on collaboration with CPAs
00:30:57: Wrap-up and thank you
 
DISCLAIMER:The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Quickly evolving technology such as artificial intelligence coupled with changing labor dynamics have altered the workplace. Labor economist and MIT professor David Autor delve into these two critical areas in his conversation with Gene Marks on Paychex THRIVE, a Business Podcast, to help the audience understand the shifting trends impacting businesses. They also discuss strategies around integrating AI-driven insights with human expertise. 
 
Topics Include:00:00: Episode Preview
00:01:01: Introduction of David Autor
00:01:40: Autor’s background
00:03:32: Discussion on industry dynamics
00:03:51: Impacts of AI on labor markets
00:08:33: AI and decision making in various industries
00:09:37: AI and skills re-evaluation
00:11:19: Skills needed for future with AI
00:15:19: AI's current potential
00:17:16: Long-term impact on labor markets
00:18:17: Discussion on potential disruptions of future technology
00:23:16: Discussion on minimum wage debate
00:29:45: Current state of workforce after pandemic
00:33:24: Wrap-up and thank you
DISCLAIMER:The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Looking to start a business? The trend is to buy a business rather than start from scratch, and a recent report shows small-business acquisitions up 10% from the previous year and 3% in the last quarter. Some experts say new borrowers are accepting high interest rates as normal. And if you’re opening a business, another survey found Ohio has all the factors to make it the top spot to start. Gene Marks also shares his insights on the constant tipping and its impact. Watch the podcast.
DISCLAIMER:The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.