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Why Trump's Plan To Raise Tariffs Will Backfire
Description
Blake and David Leary dive into several hot topics in the accounting world including the IRS's renewed focus on enforcement, targeting high-income individuals and non-filers, as well as the push to regulate non-credentialed tax preparers. They also explore the ongoing US CPA shortage and discuss potential solutions, including changes to education and recruitment strategies. Moving on, there's talk about emerging threats to traditional accounting software from industry-specific solutions like Clio's new accounting package for law firms. All this and more, right here, right now!
Sponsors
Relay - http://accountingpodcast.promo/relay
Zoho - http://accountingpodcast.promo/zoho
Makers Hub - http://accountingpodcast.promo/makershub
Lendflow - http://accountingpodcast.promo/lendflow
Chapters
- (01:00) - Global IT Outage Chaos
- (02:48) - Guess the Company Game
- (05:04) - Accounting Salaries and Compensation
- (14:47) - PwC Cutting Chinese Partners Pay by 50%
- (16:24) - Relay: The Ultimate Banking Solution
- (18:50) - Payday Advance Apps Under Scrutiny
- (21:40) - Trump's Tax Plan and Tariffs
- (29:03) - Community Engagement and Election 2024
- (29:48) - Zoho Practice Management Overview
- (31:34) - IRS Enforcement and Tax Resolution Opportunities
- (39:40) - Regulating Non-Credentialed Tax Preparers
- (43:09) - Corporate Tax Rates and Economic Impact
- (48:49) - Thank you to MakersHub
- (50:45) - Clio Accounting and Legal Software Innovations
- (53:41) - Addressing the Accountant Shortage
- (01:02:31) - Thanks for Listening and Remember to Earn Your Free CPE
Show Notes
July 19, 2024, global tech outage news
https://www.cnn.com/business/live-news/global-outage-intl-hnk/index.html
AICPA & CIMA Achieves Global Recognition as a Great Place To Work
Just How Much Have Accounting Salaries Increased in the Last Five Years?
You Need to Make Six Figures to Buy a Home in Almost Half of the U.S.
Number of the Day: $5.7 Billion - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2024/06/24/number-of-the-day-5-7-billion/107099/
I.R.S. Crackdown on Delinquent Millionaires Yields $1 Billion - The New York Times
https://www.nytimes.com/2024/07/11/business/irs-crackdown-wealthy-taxpayers.html
The IRS Tidal Wave Is Here - CPA Trendlines
https://cpatrendlines.com/2024/07/07/the-irs-tidal-wave-is-here/
Tax pros: IRS improvi