The Cost of Busy Season Burnout
Kristen Keats, CPA, founder of Breakaway Bookkeeping & Advising, joins the show to talk about busy season burnout, KPMG Canada's new foray into outsourced accounting with "KPMG Finance Plus," along with updates on the Restaurant Revitalization Fund, and Child Tax Credit expansion. We'll also talk about the AICPA's advocacy for tax penalty relief, whether or not the Biden IRS will come after your clients, Elizabeth Warren's opinions about the tax prep industry, the latest opportunities for automation in audit, and more!
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Show Notes
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Show Notes
1:12 – Welcome Kristen Keats, founder of Breakaway Bookkeeping & Advising, and practice owner at Sherwood Tax & Accounting
18:06 – KPMG Canada launches cloud accounting solution for SMEshttps://www.consulting.ca/news/2273/kpmg-canada-launches-cloud-accounting-solution-for-smes
24:06 – Burnout Is Real, On the Rise, and Retractable
28:50 – Restaurant Revitalization Fund to stop accepting applications Monday - Journal of Accountancy
29:11 – SBA will close Restaurant Revitalization Fund on Monday — just 3 weeks after opening
Restaurant Revitalization Fund faces huge funding shortfall
NYC Introduces Restaurant Aggregator Data Billhttps://www.pymnts.com/news/delivery/2021/nyc-introduces-bill-to-require-restaurant-aggregators-to-share-customer-data/
30:08 – Child Tax Credit Expansion Kicks In July 15 With Monthly Payments to Families
31:28 – Under Armour shareholders can sue over sales disclosures
32:37 – Taxpayers deserve pandemic penalty relief, AICPA says - Journal of Accountancy
https://www.journalofaccountancy.com/news/2021/may/taxpayers-deserve-pandemic-tax-penalty-relief-aicpa-says.html
https://www.journalofaccountancy.com/news/2021/may/taxpayers-deserve-pandemic-tax-penalty-relief-aicpa-says.html
36:22 – Will Biden’s IRS be coming after your clients?
41:37 – Elizabeth Warren’s take on the tax-preparer industry
44:39 – Innovations in audit: KPMG deploys smart glasses
47:00 – Auditors leverage technology lessons from pandemic
49:14 – We Found Joe Biden’s Secret Venmo. Here’s Why That’s A Privacy Nightmare For Everyone.
50:25 – Popularity of Venmo, Other Apps Prompt Questions for Lawyer Usehttps://news.bloomberglaw.com/us-law-week/popularity-of-venmo-other-apps-prompt-questions-for-lawyer-use
52:50 – April sees resurgence in ransomware attacks - IT-Online
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