From Compliance to Consulting: A CPA's Journey into M&A and Business Valuation

Discover the compelling advantages of nearshoring your accounting and finance functions to Argentina. In this episode, Nicolás Villafañe, partner at South Offices, shares his insider perspective on why Argentina is a top destination for accessing skilled talent while enjoying significant cost savings compared to hiring in the US.Learn how Argentina's timezone alignment, cultural affinity, and highly qualified pool of licensed CPAs can provide your business with a seamless experience as if you were hiring remote employees. Nicolás also shares a case study of how his firm has partnered with a US client to build a successful, integrated team.If you've been considering nearshoring options, this episode is packed with valuable insights to help you evaluate your choices and unlock the benefits for your business. Tune in now to explore the power of nearshoring!Meet Our Guest, Nicolás VillafañeLinkedIn: https://www.linkedin.com/in/nicolasvillafane/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need 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/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Blake and David get brutally honest about why pricey accounting conferences are a no-go and how the industry sidelines neurodivergent professionals. You'll also get a rundown of the rebranded Intuit Connect event's new direction, the political firestorm around IRS Direct File, and a Google Sheets update that will blow your mind. From the mailbag, don't miss one reader's incredible story of passing the CPA exam in record time and our take on why firms need to rethink degree requirements. Plus, we offer real-talk advice for starting your ownbookkeeping biz and take shots at the infamous 150-hour rule.SponsorsOnPay - http://accountingpodcast.promo/onpay Relay - http://accountingpodcast.promo/relayMakers Hub - http://accountingpodcast.promo/makershubChapters(01:02) - David Has FOMO (03:50) - The Cost of AICPA Engage (07:11) - ADHD and Conferences (16:39) - Community Engagement and Comments (21:23) - Intuit Connect Announcement & Going After the Mid-Market (28:54) - Future of Accounting with AI (32:59) - AI Agents Replacing Human Labor (34:07) - Preparing for a Future in Accounting (35:06) - The Value of Practical Experience (36:52) - Listener Feedback and Community Engagement (39:14) - Intuit and IRS Direct File Controversy (48:20) - Google Sheets' New Conditional Notifications (51:11) - Listener Mailbag: Unique Paths to CPA (55:28) - Earning Your Accounting Degree Quick! (59:13) - The Debate on College Degrees and Signaling (01:04:29) - Closing Remarks and Thanks for Listening  Show NotesHouse GOP proposes IRS funding cuts, defunding free tax filing ...Intuit Connect 2024 - Formerly QuickBooks ConnectGoogle Sheets’ new ‘conditional notifications’ easily keep track of small changes - The VergeNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need 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/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Anthony Venette, Director of Business Valuation and Advisory Services at DeJoy & Co., joins Blake to discuss his unconventional career path and the world of business valuation. Anthony shares his journey from audit to tax and eventually to valuation, highlighting the importance of soft skills and effective communication in advisory roles. He also provides valuable insights into the day-to-day life of a valuation professional and offers advice for young CPAs interested in pursuing this career path.Meet Our Guest, Anthony VenetteLinkedIn: https://www.linkedin.com/in/anthonyvenettecpaabv/Learn more about DeJoy & Co.https://www.teamdejoy.com/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need 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/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Blake and David delve into the accounting and bookkeeping aspects of Donald Trump's recent guilty verdict in New York. They discuss the charges related to falsifying business records and hush money payments and explore the potential implications for Trump's businesses and campaign. Their conversation also touches on the current state of AI in accounting, the retirement of AICPA president Barry Melancon, and the challenges facing the profession in attracting new talent.SponsorsLiveFlow - http://accountingpodcast.promo/liveflow Zoho - http://accountingpodcast.promo/zoho Blue Onion - http://accountingpodcast.promo/blueonion Bean - http://accountingpodcast.promo/beanChapters(01:10) - Breaking Down Trump's Guilty Verdict (02:56) - Analyzing the Charges (04:52) - Legal Implications and Campaign Finance (07:54) - Trump's Bookkeeping and Legal Strategies (10:01) - Asking ChatGPT How This Entry Should Have Been Coded (17:14) - Commercial Real Estate and Trump's Properties (24:50) - Puzzle Accounting and AI Automation (29:15) - Rose Financial's EASBY adds AI (33:23) - Challenges in AI Categorization (34:07) - Human Oversight in AI Accounting (35:38) - Digits' AI Performance and Market Comparison (39:10) - Live Listener Question: Career Path in Accounting (42:28) - University of Scranton Brags About Number of Accounting Papers They've Published (43:00) - AICPA's Future as President Barry Melancon Announces Retirement (52:32) - App Review: Rose AI-Powered Spreadsheet (54:34) - Watch Our TurboTax Business Assisted 2024 Review and Listen to the Best Metrics Podcast (57:07) - Earn CPE For Listening To Our Podcast  Show Notes"Who's the victim of Trump's Bookkeeping?" Washington Examinerhttps://www.washingtonexaminer.com/daily-memo/3014100/who-is-the-victim-of-trumps-bookkeeping/ Trump May Owe $100 Million From Double-Dip Tax Breaks, Audit Showshttps://www.nytimes.com/2024/05/11/us/trump-taxes-audit-chicago.html The Office-Market Meltdown Comes for Trump’s Prized Wall Street Buildinghttps://www.wsj.com/real-estate/commercial/the-office-market-meltdown-comes-for-trumps-prized-wall-street-building-31b3a667 Profession Leader Humbly Requests You STFU About Long Hours, Busy Season, and Stresshttps://www.goingconcern.com/profession-leader-humbly-requests-you-stfu-about-long-hours-busy-season-and-stress/ New AICPA chair: ‘We need to promote the cool work we do’https://www.journalofaccountancy.com/issues/2024/jun/new-aicpa-chair-we-need-to-promote-the-cool-work-we-do.html Rose Financial Solutions Sets Goal to Automate 85% of Finance and Accounting Activities by 2030https://www.prnewswire.com/news-releases/rose-financial-solutions-sets-goal-to-automate-85-of-finance-and-accounting-activities-by-2030-302145576.html TAP: TurboTax Business Assisted Review 2024 (for Tax Year 2023)https://www.youtube.com/watch?v=zaaMIV1lyns Check out Best Metrics here: https://bestmetrics.transistor.fm/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need 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/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Dr. Mfon Akpan, Assistant Professor of Accounting at Methodist University joins Blake and David for a conversation on the impact of AI on accounting education, the challenges faced by accounting graduates entering the workforce, and the future of the CPA profession. Dr. Akpan shares his insights on incorporating AI into the classroom and the importance of lifelong learning in the rapidly evolving world of technology.Sponsors Cloud Accountant Staffing - http://accountingpodcast.promo/casKeeper - http://accountingpodcast.promo/keeperBean - http://accountingpodcast.promo/beanChapters(01:43) - AI in Accounting Education (02:49) - Prompting Techniques for AI (04:36) - Practical Applications of AI in Accounting (05:52) - Challenges and Benefits of AI in Education (07:00) - Incorporating AI into Accounting Curriculum (15:07) - Debate on Accounting Education and Skills Gap (23:51) - The 5th-Year Requirement for CPAs (35:01) - The Value of Personal Interaction in Education (35:42) - The Importance of Smaller Class Sizes (37:33) - The Role of AI in Education (41:29) - Improving Salaries in the Accounting Profession (43:09) - The Impact of Technology on Accounting Jobs (43:55) - Balancing Work and Life in Accounting (56:26) - The Future of Accounting Education (01:00:27) - Embracing AI in Accounting (01:03:30) - Final Thoughts and Conclusion  Meet our Guest, Dr. Mfon AkpanWebsite: https://mfonakpan.com/LinkedIn: https://www.linkedin.com/in/drmfonakpan/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need 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/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Blake and David dig into reports from the Illinois CPA Society and National Pipeline Advisory Group highlighting issues like long work hours, the 150-hour rule, and low starting salaries. They examine the potential disruption of traditional accounting software by startups and vertical SaaS companies offering embedded accounting functionality and review some of the CPA Practice Advisor Readers' Choice Awards. Wrapping things up, they highlight the health risks of long working hours, and discuss the need for better work-life balance in accounting firms, based on a recent WHO report.SponsorsOnPay - http://accountingpodcast.promo/onpay Cloud Accountant Staffing - http://accountingpodcast.promo/casKeeper - http://accountingpodcast.promo/keeperBlue Onion - http://accountingpodcast.promo/blueonionChapters(01:44) - Does QuickBooks have some new competition? (07:05) - Layer wants to be a GL service (10:08) - Lili's place in the marketspace (13:26) - The role of accountants in software success (16:28) - CPA Practice Advisor's 2024 Reader Choice Awards (18:53) - Illinois CPA Society survey results (25:31) - WHO publishes estimates on health costs from working long hours (30:02) - The long-awaited NPAG Impact Report was released! (33:11) - Identifying pipeline problems (35:06) - Reasons students don't choose accounting majors (49:45) - Final points from report (53:31) - Blake's theory on why accounting starting salaries are low (01:00:15) - Thanks for listening and remember to subscribe  Show NotesTeal Announces $8M Seed Investment to Drive Next-Gen Accounting Products for Vertical SaaShttps://www.businesswire.com/news/home/20240520567117/en/Teal-Announces-8M-Seed-Investment-to-Drive-Next-Gen-Accounting-Products-for-Vertical-SaaSEmbedded accounting startup Layer secures $2.3M toward goal of replacing QuickBookshttps://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/?guccounter=1Illinois CPA Society Releases Updated CPA Pipeline Reporthttps://www.icpas.org/about-us/press/press-release-details/2024/05/16/illinois-cpa-society-releases-updated-cpa-pipeline-reportNational Pipeline Advisory Group releases draft strategy reporthttps://www.accountingpipeline.org/draft-report/Embedded accounting startup Layer secures $2.3M toward goal of replacing Quickbooks | TechCrunch                https://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/ The Best Tech for Accounting Firms: CPAs Voted for Readers Choice Tech Awards        https://www.cpapracticeadvisor.com/2024/05/15/2024-cpa-practice-advisor-readers-choice-award-winners-announced/105089/ Lili Launches New Accountant AI for Small Business Financial Management   https://www.cpapracticeadvisor.com/2024/05/16/lili-launches-new-accountant-ai-for-small-business-financial-management/105520/ Embedded accounting startup Layer secures $2.3M toward goal of replacing QuickBooks     https://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/ Kabbage Inc. Settles Allegations of PPP Fraud        https://smallbiztrends.com/?p=1487492 US accounting group bows to calls for faster path for recruitshttps://www.ft.com/content/b6562303-cfda-4c6e-bb7b-8fe6e092bb01 National Pipeline Advisory Group releases draft strategy report - National Pipeline Advisory Group   https://www.accountingpipeline.org/draft-report/ Bench and Shopify alumni announce $11M CAD to build “the Stripe for accounting” with Teal - BetaKit                https://betakit.com/bench-and-shopify-alumni-announce-11-million-cad-to-build-the-stripe-for-accounting-with-teal/ Embedded accounting startup Teal raises $8M seed          https://www.axios.com/pro/fintech-deals/2024/05/20/embedded-accounting-teal-8-million-seed The Indicator from Planet Money : NPRhttps://www.npr.org/2024/05/17/1197964709/trade-wars-and-talent-shortages Canadian fintech Teal raises $8M to build ‘Stripe for accounting’               https://techfundingnews.com/canadian-fintech-teal-raises-8m-to-build-stripe-for-accounting/ Kabbage to pay $120M in PPP fraud settlements with DOJhttps://www.bankingdive.com/news/kabbage-pay-120-million-ppp-fraud-doj-small-business-loan-pandemic/716053/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or

This week, Blake and David are puzzled by the results of a survey that shows 40% of tax professionals believe generative AI will allow them to charge clients higher rates. They also cover the sham audit firm BF Borgers and question why the firm's CPA is still licensed despite SEC charges. Blake demonstrates how he uses Zapier Central to build an AI agent that can automatically respond to client emails about the status of their tax returns. Wrapping up, they examine Digits' $35 million raise and pivot to bill pay, and Xero's new filtering functionality for bank reconciliations. SponsorsLiveFlow - http://accountingpodcast.promo/liveflow Cloud Accountant Staffing - http://accountingpodcast.promo/casKeeper - http://accountingpodcast.promo/keeperBlue Onion - http://accountingpodcast.promo/blueonionChapters(00:53) - Generative AI's Impact on Pricing (05:39) - The Curious Case of BF Borgers and Sham Audits (08:19) - The Slow Response of Regulatory Bodies to Fraud (18:07) - NASBA Hires New President (19:24) - NASBA and the CPA Exam: A Call for Modernization (28:16) - The Trump Stormy Daniels NY Trial (35:19) - Rudy Giuliani's Financial Woes: A Deep Dive (38:18) - Building AI Agents with Zapier Central: A How-To Guide (39:38) - AI Tools for Productivity: Insights from ClickUp (40:41) - The Power of AI in Automating Client Communication (48:04) - The Big Money in AI-Powered Practice Management (53:54) - Bill Pay Innovations and Market Dynamics (55:12) - Xero's New Features and Bank Feed Improvements (58:58) - The Real Value of Dashboards in Business Management (01:04:10) - Closing Remarks and Future Events  Show NotesRudy Giuliani Forced to Learn Accounting After Bankruptcy Beancounter Bailshttps://www.thedailybeast.com/rudy-giuliani-forced-to-learn-accounting-after-bankruptcy-beancounter-bails Stormy Daniels payment puts focus on Trump and check-writing as trial testimony resumeshttps://www.nbcnews.com/politics/donald-trump/former-white-house-executive-assistant-stand-trump-trial-dramatic-stor-rcna151578 Trump Accountant on His Stormy Daniels Coverup Notes: ‘I Made a Boo-Boo’https://www.yahoo.com/news/trump-accountant-stormy-daniels-coverup-152934446.html Trump Accountant Exposes Checks to Michael Cohen in Damning Testimonyhttps://newrepublic.com/post/181344/trump-accountant-checks-signed-michael-cohen-hush-money-trial What’s new in Xero — May 2024 - Xero Blog      https://blog.xero.com/product-updates/whats-new-in-xero-may-2024/ End of Trump Media’s Auditor Jolts Hundreds of Other Companies      https://news.bloombergtax.com/financial-accounting/end-of-trump-medias-auditor-jolts-hundreds-of-other-companies Trump Media hires new auditor after previous accounting firm charged with 'massive fraud'  https://www.cnbc.com/2024/05/06/trump-media-hires-new-auditor-after-accounting-firm-charged-with-fraud.html Digits Launches AI Bill Pay for Small Businesses            https://www.pymnts.com/news/b2b-payments/2024/digits-launches-ai-bill-pay-for-small-businesses/ Countsy Debuts Platform to Streamline Back-Office Managementhttps://www.pymnts.com/back-office/2024/countsy-debuts-platform-to-streamline-back-office-management/ Why we’re calling 2024 ‘the year of the US bank feed’  https://blog.xero.com/product-updates/year-of-the-us-bank-feed/ Let's Meet NASBA's Next President and CEO    https://www.goingconcern.com/lets-meet-nasbas-next-president-and-ceo/ Digits Launches AI Bill Pay for Small Businesses            https://www.pymnts.com/news/b2b-payments/2024/digits-launches-ai-bill-pay-for-small-businesses/ Digits AI Bill Pay -- The World's First AI Bill Pay, Built Specifically For Startupshttps://www.prnewswire.com/news-releases/digits-ai-bill-pay--the-worlds-first-ai-bill-pay-built-specifically-for-startups-302131944.html Imagine the Chaos If the PCAOB Starts Naming and Shaming Audit Deficiency Clientshttps://www.goingconcern.com/imagine-the-chaos-if-the-pcaob-starts-naming-and-shaming-audit-deficiency-clients/ 'Nobody seems interested' in helping Giuliani with accounting in bankruptcy case, lawyers claimhttps://thehill.com/video/%e2%80%98nobody-seems-interested%e2%80%99-in-helping-giuliani-with-accounting-in-bankruptcy-case-lawyers-claim/9675968/Canopy Secures $35 Million in Funding to Enhance AI-Powered Practice Management for Accounting Firms https://www.einnews.com/pr_news/709723429/canopy-secures-35-million-in-funding-to-enhance-ai-powered-practice-management-for-accounting-firms  Trump Media Replaces Its Accounting Firm BF Borgers With Semple, Marchal & Cooperhttps://www.fxleaders.com/news/2024/05/06/trump-media-replaces-its-accounting-firm-bf-borgers-with-semple-marchal-cooper/ Trump Org. accounting system was de...

Cody Turley, CPA and Certified Fraud Examiner, joins Blake and David to discuss his SEC career path, describing what it's like to investigate securities law violations. He emphasizes that while Big Four experience is valuable, it's not the only way to have a successful and meaningful accounting career. Cody shares insights into the benefits of working in government accounting roles, including greater responsibility early on, work-life balance, and the ability to transition to public accounting or industry later if desired.Meet Our Guest, Cody TurleyLinkedIn: https://www.linkedin.com/in/cody-turley-cpa-cff-cfe-776254122/Learn about SEC internship opportunities: https://www.sec.gov/pathways-internship-programNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need 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/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: 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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

The SEC charged Trump's audit firm with a massive fraud – 1,500 fake filings over 2.5 years! Plus, hundreds of small US banks are at risk due to commercial real estate loan exposure. We're also talking about the potential of AI tools like Claude and ChatGPT to automate various accounting and business tasks, the controversial Corporate Transparency Act's beneficial ownership reporting requirements, and the possibility of its repeal. We wrap with fintech and crypto news, including Mercury Bank's rapid growth and potential regulatory issues.Sponsors Zoho - http://accountingpodcast.promo/zohoRelay - http://accountingpodcast.promo/relayKeeper - http://accountingpodcast.promo/keeperHarbor Compliance - http://accountingpodcast.promo/harborChapters(09:04) - Anthropic launches Claude for teams (11:12) - More LLM models pass CPA exam (18:28) - Blake demonstrates AI's abiity to help with emails (32:56) - 28 AI prompts for small businesses (36:39) - Oregon Senator going after TurboTax to issue refunds to Oregonians (38:44) - The possibility of a regional banking crisis (48:12) - The Corporate Transparency Act might be repealed (54:15) - Tether claims they can't find a Big 4 firm to audit them (56:54) - Mecurity Bank being looked at by FDIC (01:02:05) - Square to allow users to transfer percent of daily sales to Bitcoin (01:03:26) - Download and sign up for the Earmark app  Show NotesAnthropic launches a free Claude iOS app and Team, its first enterprise plan | ZDNEThttps://www.zdnet.com/article/anthropic-launches-a-free-claude-ios-app-and-team-its-first-enterprise-plan/ SEC.gov | SEC Charges Audit Firm BF Borgers and Its Owner with Massive Fraud Affecting More Than 1,500 SEC Filingshttps://www.sec.gov/news/press-release/2024-51 Oregon senator demands refunds for TurboTax customers over glitch | Accounting Todayhttps://www.accountingtoday.com/news/oregon-senator-demands-refunds-for-turbotax-customers-over-glitch Can LLMs Pass the CPA Exam? Evaluating Large Language Model Performance on the Certified Public Accountant Test by Will Zacher, Sanmukh Kuppannagari :: SSRN           https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4788096 Sam Altman says helpful agents are poised to become AI’s killer function | MIT Technology Review    https://www.technologyreview.com/2024/05/01/1091979/sam-altman-says-helpful-agents-are-poised-to-become-ais-killer-function/ Why hundreds of U.S. banks may be at risk of failure   https://www.cnbc.com/2024/05/01/why-hundreds-of-us-banks-may-be-at-risk-of-failure.html Tether CEO Says An Audit By A Big Four Giant Is Our Top Priority            https://coingape.com/tether-ceo-says-an-audit-by-a-big-four-giant-is-our-top-prioritterrestrialBlock lets Square merchants convert a part of their daily sales to bitcoinhttps://techcrunch.com/2024/04/24/block-now-lets-square-merchants-convert-a-part-of-their-daily-sales-to-bitcoin/ The 28 best AI prompts for small businesses    https://www.sage.com/en-us/blog/the-28-best-ai-prompts-for-small-businesses/ Congress considers how to fix the Corporate Transparency Acthttps://www.accountingtoday.com/news/congress-considers-how-to-fix-the-corporate-transparency-act Article from www.congress.gov              https://www.congress.gov/bill/118th-congress/house-bill/8147/cosponsors Binance founder Changpeng Zhao sentenced to 4 months in prison after plea dealhttps://www.cnbc.com/2024/04/30/binance-founder-changpeng-zhao-cz-sentenced-to-four-months-in-prison-.htmlNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need 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/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher:

Blake and David examine the latest tax legislation traveling through Congress, including a new bill requiring the IRS to provide detailed explanations for math errors on tax returns. They also discuss the IRS's new direct file program, the banning of non-compete agreements, and the coolest profession around (spoiler alert: it's not accounting). Lastly, they touch on the concerning data breach at BerryDunn and the AICPA's efforts to rebrand the CPA to attract more young people to the field.SponsorsLiveFlow - http://accountingpodcast.promo/liveflow Zoho - http://accountingpodcast.promo/zohoKeeper - http://accountingpodcast.promo/keeperHarbor Compliance - http://accountingpodcast.promo/harborChapters(02:40) - New proposed IRS Math Act (05:42) - IRS wraps first season with free file program (09:44) - "The Magician" tax preparer arrested for $100 million tax fraud (15:11) - The future of social security (19:01) - Sam Bankman-Fried makes a deal in civil suit (20:34) - FTC rules noncompetes are unlawful (25:32) - Ryan Tax Firm challenges FTC noncompete ruling (28:04) - QuickBooks Live announcement upsets accountants (41:10) - Anonymous listener says you can work normal hours and still make money (44:31) - Accountant charged with embezzling $800k from CA paving firm (47:39) - Ryanair CEO thinks more accountants should be running airlines (55:25) - Accounting firm sued for data leak (57:22) - CPA "Coolest Profession Around) (01:01:35) - What is "Accounting Plus" (01:06:38) - NASBA offers The Accountancy Licensing Library (01:10:00) - Thanks for listening and remember to subscribe  Show NotesAccountant Charged With Embezzling $800,000 From Paving Firm in California - CPA Practice Advisor            https://www.cpapracticeadvisor.com/2024/04/25/virginia-accountant-charged-with-embezzling-800000-from-richmond-paving-firm/104508/ Ryan Leads Charge Against Biden’s Ban on Noncompete Clauses - CPA Practice Advisorhttps://www.cpapracticeadvisor.com/2024/04/26/ryan-leads-charge-against-bidens-ban-on-noncompete-agreements/104537/ Move Over, TurboTax? IRS Considers Expanding Free Tax-Filing Program – WSJhttps://www.wsj.com/personal-finance/taxes/irs-considers-expanding-free-tax-filing-program-8f68cc9a?st=0akqqiu2v0gjb8v Boeing Needs Another Accountant As CEO, Says Ryanair CEO – Avwebhttps://www.avweb.com/aviation-news/boeing-needs-another-accountant-as-ceo-says-ryanair-ceo/ Ultra-Rich Should Pay More Taxes to Save Social Security, Poll Shows - CPA Practice Advisorhttps://www.cpapracticeadvisor.com/2024/04/25/ultra-rich-should-pay-more-taxes-to-save-social-security-poll-shows/104458/ FTC Bans Noncompete Agreements That Restrict Job Switching – WSJhttps://www.wsj.com/politics/policy/ftc-bans-noncompete-clauses-that-restrict-job-switching-984d2187?st=sxhwibcr49evqxc Bronx tax preparer known as "the magician" arrested for $100 million tax fraud | ADN Américahttps://adnamerica.com/en/new-york/bronx-tax-preparer-known-magician-arrested-100-million-tax-fraud With close calls mounting, the FAA will require more rest for air traffic controllershttps://www.npr.org/2024/04/22/1246349237/close-calls-faa-air-traffic-control-fatigue New bill would force IRS to explain tax return errors | The Hillhttps://thehill.com/business/4602429-new-bill-would-force-irs-to-explain-tax-return-errors/ The Accountancy Licensing Library: Your Ultimate Resource for CPA Licensure | NASBAhttps://nasba.org/blog/2024/04/01/the-accountancy-licensing-library-your-ultimate-resource-for-cpa-licensure/ The cost of doing your taxes are up nearly 10% this year – Marketplacehttps://www.marketplace.org/2024/03/15/tax-preaparation-costs-up-nearly-10-percent/Sam Bankman-Fried agrees to help FTX investors in lawsuits against Tom Brady, Larry Davidhttps://nypost.com/2024/04/22/business/sam-bankman-fried-agrees-to-help-ftx-investors-in-lawsuits-against-tom-brady-larry-david/ Intuit Hosting 'QuickBooks Live' Webinar           https://insightfulaccountant.com/in-the-news/people-and-business/intuit-hosting-quickbooks-live-webinar/ QuickBooks "Live Experts" May Not Be So Badhttps://insightfulaccountant.com/accounting-tech/general-ledger/quickbooks-live-experts-may-not-be-so-bad/ Millions more salaried workers will be eligible for overtime pay under final Biden administration rulehttps://www.cnn.com/2024/04/23/politics/overtime-pay-salaried-workers-biden/index.html Senators introduce bill to simplify IRS notices https://www.accountingtoday.com/news/senators-introduce-bill-to-simplify-irs-notices IRS Says It Saw ‘Strong Response’ From Direct File Pilot Users This Tax Seasonhttps://www.cpapracticeadvisor.com/2024/04/26/irs-saw-strong-response-from-direct-file-pilot-users-this-tax-season/104545/ U.S. accounting firm Be...