About this episode
Buckle up for a wild ride covering everything from brazen ERC scams to cutting-edge AI. Join Blake and David as they expose the rampant fraud sucking billions from the federal coffers. You'll hear an unbelievable voicemail scam promising gangbusters refunds—could it really be Snoop Dogg or is your mind playing tricks? Fast forward to the bleeding edge of technology with jaw-dropping examples of AI voice and face swapping. Think real-time translation opening global markets. But not so fast—can emerging tech replace human accountants offshore? We tackle the automation debate head-on. Strap on your justice caps as the crew champions entrepreneurial accountants breaking free from the shackles of the timesheet. But will AI be the death knell of the billable hour? Tune in to find out! Sponsors LiveFlow - http://accountingpodcast.promo/liveflow Forwardly - https://cloudaccountingpodcast.promo/forwardly Aero Workflow - http://accountingpodcast.promo/aero Chapters (00:45) - David got a voicemail from Snoop Dogg! (08:42) - Mark Cuban and Warren Buffett talk about why accounting is important (12:50) - Couple gets married in the accounting classroom where they met (14:51) - Purdue accounting professors invite accounting students and alumni to tailgate together at football games (15:51) - AICPA drops the ball on member survey (19:11) - Vegas gets hit by cyber attacks (23:30) - Square outage causes problems for small businesses (25:32) - The Doberman dog breed is named after a German tax collector (26:33) - JP Morgan partners with Gusto to offer online payroll (28:36) - American Express & Walmart expand small business offerings (31:47) - AI real-time language translation for video and audio is not far away (39:01) - The future of voice assists and integration with LLM's (43:58) - 29-year-old accountant quits firm to open her own (49:34) - Offshoring vs. automation (55:26) - Blake's new lawyer charges by the hour...sometimes (57:39) - Thanks for listening and how to earn free CPE Need CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.com Get CPE for listening to podcasts with Earmark CPE: https://earmarkcpe Show Notes JPMorgan to offer online payroll services https://www-cnbc-com.cdn.ampproject.org/c/s/www.cnbc.com/amp/2023/09/14/jpmorgan-to-offer-online-payroll-services.html I.R.S. Freezes Pandemic-Era Tax Credit Amid Fraud Fears https://www.nytimes.com/2023/09/14/us/politics/irs-pandemic-employee-credit-fraud.html The Cyberattack That Sent Las Vegas Back in Time https://www.wsj.com/lifestyle/travel/las-vegas-mgm-cyberattack-casinos-6ca43dcf Caesars Paid Ransom After Suffering Cyberattack – WSJ https://www.wsj.com/business/hospitality/caesars-paid-ransom-after-suffering-cyberattack-7792c7f0 Meet a 29-year-old accountant whose ‘resentment’ only climbed after her firm raised her salary from $60k to $90k as she made millions for them. She has her own firm now https://finance.yahoo.com/news/meet-29-old-accountant-whose-110000532.html Mark Cuban on Accounting via Hector Garcia https://youtube.com/watch?v=VT_SCYbkmd8&si=3fLUqsQbqIlCzkgA Meet a 29-year-old accountant whose ‘resentment’ only climbed after her firm raised her salary from $60k to $90k as she made millions for them. She has her own firm now https://finance.yahoo.com/news/meet-29-old-accountant-whose-110000532.html How Amex is building a B2B ecosystem for SMBs https://tearsheet.co/smb-finance/how-amex-is-building-a-b2b-ecosystem-for-smbs/ IRS halts new ERC processing after flood of bogus claims https://www.accountingtoday.com/news/irs-halts-new-employee-retention-credit-processing-after-flood-of-bogus-claims Don't offshore. Automate instead https://www.accountingtoday.com/opinion/dont-offshore-automate-instead MGM hack has Vegas hotels resorting to cash bars, paper vouchers https://bankautomationnews.com/allposts/risk-security/mgm-hack-has-vegas-hotels-resorting-to-cash-bars-paper-vouchers/ They found love in their accounting classroom. Ten years later, they ... https://www.wenatcheeworld.com/lifestyles/they-found-love-in-their-accounting-classroom-ten-years-later-they-got-married-there/article_c0ee232e-5334-11ee-a4ac-e359a3362f03.html Walmart Business Has a Plan to Boost SMB Cash Flow https://www.pymnts.com/commercial-payments/2023/walmart-business-has-a-plan-to-boost-smb-cash-flow/ Square and Cash App outage creates trouble for small businesses https://www.asbn.com/articles/square-and-cash-app-outage-creates-trouble-for-small-businesses/ MGM Resorts Hack Becomes Hassle for Vacationers Who Must Use Cash https://www.pymnts.com/cybersecurity/2023/mgm-resorts-hack-becomes-hassle-vacationers-must-use-cash/ Cash App And Square Face System Outage, Keeping Users From Their Coins