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 Villafañe

LinkedIn: https://www.linkedin.com/in/nicolasvillafane/

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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

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 own
bookkeeping biz and take shots at the infamous 150-hour rule.

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• (01:02) - David Has FOMO

Show Notes

House GOP proposes IRS funding cuts, defunding free tax filing ...

Intuit Connect 2024 - Formerly QuickBooks Connect

Google Sheets’ new ‘conditional notifications’ easily keep track of small changes - The Verge

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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

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 Venette

LinkedIn: https://www.linkedin.com/in/anthonyvenettecpaabv/

Learn more about DeJoy & Co.

https://www.teamdejoy.com/

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The 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.

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• (01:10) - Breaking Down Trump's Guilty Verdict

Show Notes

"Who's the victim of Trump's Bookkeeping?" Washington Examiner

https://www.washingtonexaminer.com/daily-memo/3014100/who-is-the-victim-of-trumps-bookkeeping/

Trump May Owe $100 Million From Double-Dip Tax Breaks, Audit Shows

https://www.nytimes.com/2024/05/11/us/trump-taxes-audit-chicago.html

The Office-Market Meltdown Comes for Trump’s Prized Wall Street Building

https://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 Stress

https://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 2030

https://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/

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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

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.

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• (01:43) - AI in Accounting Education

Meet our Guest, Dr. Mfon Akpan
Website: https://mfonakpan.com/
LinkedIn: https://www.linkedin.com/in/drmfonakpan/

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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

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.

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• (01:44) - Does QuickBooks have some new competition?

Show Notes

Teal Announces $8M Seed Investment to Drive Next-Gen Accounting Products for Vertical SaaS

https://www.businesswire.com/news/home/20240520567117/en/Teal-Announces-8M-Seed-Investment-to-Drive-Next-Gen-Accounting-Products-for-Vertical-SaaS

Embedded accounting startup Layer secures $2.3M toward goal of replacing QuickBooks
https://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/?guccounter=1

Illinois CPA Society Releases Updated CPA Pipeline Report
https://www.icpas.org/about-us/press/press-release-details/2024/05/16/illinois-cpa-society-releases-updated-cpa-pipeline-report

National Pipeline Advisory Group releases draft strategy report
https://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 recruits

https://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 : NPR

https://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 DOJ

https://www.bankingdive.com/news/kabbage-pay-120-million-ppp-fraud-doj-small-business-loan-pandemic/716053/

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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.
 

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• (00:53) - Generative AI's Impact on Pricing

Show Notes

Rudy Giuliani Forced to Learn Accounting After Bankruptcy Beancounter Bails

https://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 resumes

https://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 Testimony

https://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 Management

https://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 Startups

https://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 Clients

https://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 claim

https://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 & Cooper

https://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 Turley

LinkedIn: https://www.linkedin.com/in/cody-turley-cpa-cff-cfe-776254122/

Learn about SEC internship opportunities:
https://www.sec.gov/pathways-internship-program

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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

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.

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• (09:04) - Anthropic launches Claude for teams

Show Notes

Anthropic launches a free Claude iOS app and Team, its first enterprise plan | ZDNET

https://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 Filings

https://www.sec.gov/news/press-release/2024-51

Oregon senator demands refunds for TurboTax customers over glitch | Accounting Today

https://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-prioritterrestrial

Block lets Square merchants convert a part of their daily sales to bitcoin

https://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 Act

https://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 deal

https://www.cnbc.com/2024/04/30/binance-founder-changpeng-zhao-cz-sentenced-to-four-months-in-prison-.html

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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.

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• (02:40) - New proposed IRS Math Act

Show Notes

Accountant 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 Advisor

https://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 – WSJ

https://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 – Avweb

https://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 Advisor

https://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 – WSJ

https://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 América

https://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 controllers

https://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 Hill

https://thehill.com/business/4602429-new-bill-would-force-irs-to-explain-tax-return-errors/

The Accountancy Licensing Library: Your Ultimate Resource for CPA Licensure | NASBA

https://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 – Marketplace

https://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 David

https://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 Bad

https://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 rule

https://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 Season

https://www.cpapracticeadvisor.com/2024/04/26/irs-saw-strong-response-from-direct-file-pilot-users-this-tax-season/104545/

U.S. accounting firm Be...