cover of episode Cut Your Tech Stack 50%, Threat to CPA in Florida, IRS Cuts Recap

Cut Your Tech Stack 50%, Threat to CPA in Florida, IRS Cuts Recap

2025/5/16
logo of podcast The Accounting Podcast

The Accounting Podcast

Shownotes Transcript

What if your firm could cut its tech stack in half while delivering faster results to clients? In this episode, Blake and David explore the consolidation revolution in accounting software as practice management tools secure massive funding rounds. They also break down how private equity is reshaping the profession's business model, with some firms now prohibiting CPAs from using their credentials in email signatures. Plus, discover why a proposed Florida bill eliminating the Board of Accountancy could have nationwide implications for licensed professionals. Learn why shorter turnaround times—not lower prices—might be your most cost-effective path to happier clients in today's AI-transformed landscape.**

SponsorsOnPay - http://accountingpodcast.promo/onpay)Relay - http://accountingpodcast.promo/relay)REFRAME 2025 - http://accountingpodcast.promo/reframe2025) Payhawk - http://accountingpodcast.promo/payhawk) Chapters

  • (01:14) - Today's Topics Overview

  • (03:53) - Travel Stories and Observations

  • (05:14) - Conference Highlights and Industry Insights

  • (16:50) - Florida CPA Threat and Licensing Issues

  • (21:21) - Private Equity in Accounting Firms

  • (39:39) - IRS Workforce Reduction Update

  • (44:04) - IRS and ICE Data Sharing Agreement

  • (45:42) - Proposed Bill to Regulate Tax Preparers

  • (47:37) - Americans' Perception of Tax Fairness

  • (52:16) - Improving Client Satisfaction in Tax Services

  • (01:01:36) - Consolidation in Accounting Tech: Xero and Bill.com

  • (01:03:43) - Gusto Expands into AR and AP

  • (01:12:02) - The Impact of AI on Accounting Jobs

 

Show Notes

Firms with AI report higher per-employee revenue vs others https://www.accountingtoday.com/news/firms-with-ai-report-higher-per-employee-revenue-vs-others)

50% of finance teams still take over a week to close the books https://www.cfo.com/news/50-of-finance-take-week-to-close-books-ledge-month-end-close-time-cfo-three-day-close-myth-/746085/)

Shorter Turnaround Equals Happier Tax Clients https://www.cpatrendlines.com/2025/05/shorter-turnaround-equals-happier-tax-clients/)

Less than half of Americans believe federal income taxes are fair, Gallup poll finds https://news.gallup.com/poll/taxes-fairness-poll-2025.aspx)

Florida bill threatens to eliminate Board of Accountancyhttps://www.goingconcern.com/florida-bill-threatens-to-eliminate-board-of-accountancy/)

13 regional accounting firms unite under Sorin brand backed by private equity https://www.accountingtoday.com/news/13-regional-accounting-firms-unite-under-sorin-brand)

Bennett Thrasher rejects private equity, champions independence https://www.accountingtoday.com/news/bennett-thrasher-rejects-private-equity-champions-independence)

Interest in accounting rising among students, CAQ survey finds https://www.thecaq.org/accounting-interest-students-survey-2025/)

Treasury to stop issuing and accepting paper checks effective September 30, 2025 https://home.treasury.gov/news/press-releases/paper-checks-phase-out-2025)

IRS and ICE reach agreement to share immigrants' tax information https://www.irs.gov/newsroom/information-sharing-agreement-ice-2025)

Bill to regulate tax preparers introduced in Congress https://www.congress.gov/bill/tax-preparer-regulation-2025)

Canopy raises $70 million Series C for practice management software https://www.canopytax.com/blog/70-million-series-c-funding-2025)

Thoma Bravo invests $100 million in HubSync for accounting technology growthhttps://www.hubsync.com/news/thoma-bravo-investment-100-million)

Xero and Bill forming alliance for embedded bill pay in the US https://www.xero.com/blog/2025/05/bill-partnership-announcement/)

Melio to embed payments for AR and AP inside Gusto https://www.melio.com/blog/melio-gusto-partnership-2025)

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