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.
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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/
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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.
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