The Accounting Podcast

The Accounting Podcast Trailer Bonus Episode 341 Season 1

How To Know If An App Will Survive & Big Tax Prep Sent Taxpayer Data to Facebook

00:00
This week, Blake and David talk app survival signs, Big Tax Prep sending taxpayer data to Facebook, and the dearth of accountants visible in financials. They cover news from the accounting world, including Jirav's $20 million raise in its series B round, and Pilot's 13% workforce layoff, Collective's $50 million raise, and the story about the IRS website sending data to Google Analytics. They also discuss the Accountests ChatGPT challenge and Claude.AI as a ChatGPT alternative.


Chapters
  • (00:00) - Preview: Owning your own accounting firm is a path to the upper middle class
  • (01:19) - Welcome to The Accounting Podcast
  • (03:24) - Jirav raises $20 million in series B round
  • (04:29) - How likely a startup is to fail based on their funding round
  • (10:05) - Is this the end of Evernote?
  • (12:20) - Codat removing desktop API support from some plans
  • (17:05) - Pilot lays off 13% of its workforce
  • (20:01) - Collective raises $50 million
  • (21:40) - Are tax prep companies giving customers' personal information to social media giants?
  • (32:35) - Even the IRS website sends your data to Google Analytics!
  • (38:03) - WSJ article on the accounting shortage
  • (44:00) - Blake checks in on the live chat
  • (53:43) - Accountests ChatGPT challenge
  • (57:57) - Claude.AI as a ChatGPT alternative
  • (01:01:17) - Wrap up and please check out our TurboTax Live Business Tax Return experience video on our YouTube channel

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Show Notes
Jirav raises $20M in Series B | Accounting Today 
https://www.accountingtoday.com/news/jirav-raises-20m-in-series-b
 
3 tax prep firms shared 'extraordinarily sensitive' data about taxpayers with Meta, lawmakers say
https://apnews.com/article/irs-taxpayer-tax-preparation-meta-congress-9315cfca7a0942ab89f765d183fbf822
 
Tax prep companies shared private taxpayer data with Google and Meta for years, congressional probe finds | CNN Business               
https://www.cnn.com/2023/07/12/tech/tax-prep-companies-taxpayer-data-google-meta/index.html
 
The dearth of accountants has now become visible in several financial reports, with companies pleading difficulty in finding and retaining skilled people.         
https://www.wsj.com/articles/the-accountant-shortage-is-showing-up-in-financial-statements-b14a6b94
 
ChatGPT Does Accountests Debits & Credits Test 
https://www.accountests.com/blogs/news/chatgpt-does-accountests-debits-credits-test
 
Pilot lays off 13% of workforce – 45 Employees - LayoffsTracker    
https://layoffstracker.com/pilot-lays-off-13-of-workforce-45-employees/?expand_article

ChatGPT scores 90% on debits & credits test        
https://www.blakeoliver.com/blog/chatgpt-scores-90-on-debits-amp-credits-test
 
Some Chicago Restaurants Are Still Adding Surcharges Of Up to 20% to Checks. Should They?
https://www.nbcchicago.com/news/local/some-chicago-restaurants-are-still-adding-surcharges-of-up-to-20-to-your-bill-should-they/3055697/
 
2023-10-10: Change in pricing for some accounting integrations  
https://docs.codat.io/updates/231010-deprecation-onprem-erp-premium
 
Tax prep companies shared private taxpayer data with Google and Meta for years, congressional probe finds          
https://www.cnn.com/2023/07/12/tech/tax-prep-companies-taxpayer-data-google-meta/index.html
 
Attacks%20on%20Tax%20Privacy_Final.pdf
https://www.warren.senate.gov/imo/media/doc/Attacks%20on%20Tax%20Privacy_Final.pdf
 
Jirav Announces $20M Series B Round Led By Cota Capital              
https://www.intuitiveaccountant.com/in-the-news/people-and-business/jirav-announces-20m-series-b-round-led-by-cota-capital/
 
The U.S. Tax Code Is Too Complex for Direct eFile to Work              
https://taxfoundation.org/irs-efile-prefilled-tax-returns/
 
IRS renews cybersecurity push for tax pros            
https://www.accountingtoday.com/news/irs-renews-cybersecurity-push-for-tax-pros
 
The Accountant Shortage Is Showing Up in Financial Statements 
https://www.wsj.com/articles/the-accountant-shortage-is-showing-up-in-financial-statements-b14a6b94
 
Collective, a financial management platform for freelancers, raises $50M 
https://techcrunch.com/2023/07/11/collective-a-financial-management-platform-for-freelancers-raises-50m/
 
Bay Area tech firm relocating to Europe, lays off most staff https://www.sfgate.com/tech/article/evernote-layoffs-moving-to-europe-18190083.php


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The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Creators & Guests

Host
Blake Oliver
Founder and CEO of Earmark CPE
Host
David Leary
President and Founder, Sombrero Apps Company

What is The Accounting Podcast?

The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast! Join us weekly for a roundup of accounting news, analysis, and interviews. Plus, earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at https://earmarkcpe.com.