About this episode
What happens when Congress passes a $3.8 trillion deficit-increasing bill by just one vote while promising fiscal responsibility? Blake and David break down the "Big Beautiful Bill" and reveal who really benefits—spoiler alert: it's not the middle class or the national debt. They explore QuickBooks' aggressive new AI agents rollout with price hikes up to 17%, examine why Tesla's CPA CFO earned $139 million in one year, and uncover how tariff-stressed businesses are weaponizing invoice rejections to manage cash flow. You'll discover why the time-based billing model is fundamentally broken in accounting, learn about the emerging "Next 12" tier of accounting firms, and understand why partners work the most hours while achieving only 6.9/10 job satisfaction. Sponsors Relay - http://accountingpodcast.promo/relay TeamUp - http://accountingpodcast.promo/teamup REFRAME 2025 - http://accountingpodcast.promo/reframe2025 Payhawk - http://accountingpodcast.promo/payhawk Chapters (00:44) - The Big Beautiful Bill Act Overview (03:13) - Public Perception and Survey Insights (04:51) - Tax Implications and Specific Provisions (19:24) - National Debt Concerns (29:35) - QuickBooks AI Agents and Price Increases (32:52) - AI and Automation in Accounting (33:52) - Intuit's Earnings and Stock Performance (34:53) - Price Increases for QuickBooks Products (36:53) - AI Agents and QuickBooks Plans (38:01) - Impact of AI on Accounting Apps (38:56) - Intuit Enterprise and Accountants' Role (39:28) - Reframe 2025 Conference (42:40) - Big Four Transparency and Work Hours (48:18) - Tariffs and Invoice Rejections (54:52) - Big Four vs. Next 12 Accounting Firms (01:00:48) - Conclusion and CPE Information Show Notes Do Americans Support Trump's 'Big, Beautiful' Budget Package? What Poll Found Before it Passed in House https://www.cpapracticeadvisor.com/2025/05/22/do-americans-support-trumps-big-beautiful-budget-package-what-poll-found-before-it-passed-in-house/161567/ Tesla CFO earns staggering $139 million compensation package https://www.foxbusiness.com/markets/tesla-cfo-earns-staggering-139-million-compensation-package Tesla Exec Receives Record Pay Package, Highest Paid CFO https://www.entrepreneur.com/business-news/tesla-exec-receives-record-pay-package-highest-paid-cfo/491938 Tesla CFO Vaibhav Taneja draws record $139 million salary https://americanbazaaronline.com/2025/05/21/tesla-cfo-vaibhav-taneja-draws-record-139-million-salary-462881/ Big 4 Transparency - Awards Season https://big4transparency.beehiiv.com/p/big-4-transparency-awards-season Tariffs & Trade Uncertainty Creates Invoice Rejections Surge https://procurementmag.com/news/tariffs-trade-uncertainty-creates-invoice-rejections-surge Invoice rejection spike suggests tactic's use as tariff buffer, study says https://www.cfodive.com/news/invoice-rejection-spike-suggests-tactics-use-as-tariff-buffer-study-says/748528/ Art of Accounting: Analysis of Top 100 Firms data https://www.accountingtoday.com/opinion/art-of-accounting-analysis-of-top-100-firms-data The corporate work week grows even longer https://www.cfo.com/news/the-corporate-work-week-grows-even-longer-survey-microsoft-reclaim-ai-/748628/ 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://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast Classifieds REFRAME 2025 - http://accountingpodcast.promo/reframe2025 Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a cla...