EPISODE · Jul 1, 2021 · 1H 3M
How To Turn $2,000 Into $5 Billion Tax-Free
from The Accounting Podcast · host Blake Oliver & David Leary
SponsorsRewind: https://cloudaccountingpodcast.promo/rewindUncat: https://cloudaccountingpodcast.promo/uncatOdoo: https://cloudaccountingpodcast.promo/odooShow Notes1:20 – David is LIVE (well, recorded) from the brand-new Accounting Podcast Network recording studio! Check out our Instagram for a pictorial view -@cloudacctpod 2:20 – Welcome to all our new listeners from the BKX conference! 5:45 – SuiteWorld will be back in Las Vegas - insightfulaccountant.comhttps://www.intuitiveaccountant.com/accounting-tech/vendor-news/suiteworld-will-be-back-in-las-vegas/ 6:15 – Find all the latest, greatest accounting conference news here: AccountingConferences.com 8:10 – How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank — ProPublicahttps://www.propublica.org/article/lord-of-the-roths-how-tech-mogul-peter-thiel-turned-a-retirement-account-for-the-middle-class-into-a-5-billion-dollar-tax-free-piggy-bank 10:25 – ProPublica Tells Only Half the Story on Taxeshttps://www.wsj.com/articles/propublica-tells-only-half-the-story-on-taxes-11624464637 11:38 – Antivirus software pioneer John McAfee dies in prisonhttps://www.accountingtoday.com/articles/john-mcafee-antivirus-software-pioneer-found-dead-in-prison 26:00 - Bobby Bonilla Dayhttps://www.npr.org/2021/06/25/1010404697/bobby-bonilla-dayBobby Bonilla Day: 10 other athletes who are getting big checks from deferred payments https://www.cbssports.com/mlb/news/bobby-bonilla-day-10-other-athletes-who-are-getting-big-checks-from-deferred-payments 28:47 – Listener Voicemails – Why I didn’t get a CPA. Thank you, Mr. Three Cents, and Carla (sp?) from Lewisville, TX! 35:04 – The Accounting Profession Is Running Low on CPAs, But There’s an Obvious (and Completely Ignored) Fix For Thathttps://www.goingconcern.com/accounting-talent-shortage-and-cpa-exam-expectations/ 41:13 – Visa Buys Swedish Fintech Tink for More Than $2 Billionhttps://www.wsj.com/articles/visa-buys-swedish-fintech-tink-for-more-than-2-billion-11624528687 Visa Acquiring Swedish Open Banking Platform Tinkhttps://www.pymnts.com/news/partnerships-acquisitions/2021/visa-acquiring-swedish-open-banking-platform-tink-for-2-1b/ 42:31 – What’s new in QuickBooks Online: June 2021https://quickbooks.intuit.com/blog/whats-new/whats-new-in-quickbooks-online-june-2021/ 45:20 – H&R Block’s Wave unit plans new AR abilitieshttps://www.accountingtoday.com/news/h-r-blocks-wave-unit-plans-new-ar-abilities 47:58 – Announcing the first payroll products built on Check - Checkhttps://www.checkhq.com/post/announcing-the-first-payroll-products-built-on-check 50:14 – Tech news: FloQast releases request management tool for monthly close, and morehttps://www.accountingtoday.com/list/floqast-releases-request-management-tool-for-monthly-close 51:40 – Venmo Is About to Get More Expensive for Millions to Usehttps://money.com/venmo-fee-changes-email/ 56:40 – This Bachelor Fan Figured Out Who Won Colton Underwood’s Season With Venmohttps://www.cosmopolitan.com/entertainment/celebs/a30350953/bachelor-venmo-winner-colton-underwood/ 57:33 – PwC Restructures for Future of Bots, Post-Covid Advisory Boomhttps://news.bloombergtax.com/financial-accounting/pwc-restructures-for-future-of-bots-post-covid-advisory-boom 58:29 – Deloitte tells its 20,000 UK employees they can work from home foreverhttps://www.independent.co.uk/life-style/deloitte-work-from-home-employees-b1868977.htmlGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http:/...
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What this episode covers
In this episode, we dive into the brilliant tax avoidance strategy Peter Thiel used to amass a $5 billion in a Roth IRA so that it will never be taxed, and also examine why Bobby Bonilla's "exit" strategy wasn't so brilliant. We asked, and you answered! We've got voicemail about why accountants chose to not take the CPA path. In acquisitions, VISA bought Tink, and in app news, we've got an overview of QuickBooks Online updates for June, and new accounts receivable management features from Wave, Venmo's updated pricing policies, and more!
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How To Turn $2,000 Into $5 Billion Tax-Free
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