About this episode
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. Sponsors OnPay - 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 Accountancy https://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 growth https://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 Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com Get in Touch Thanks 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. Sponsorships Are you interested in sponsoring The Accounting Podcast? For details, read the prospectus . Need Accounting Conference Info? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http...