Intuit's $100m/yr OpenAI Deal & How Tech Companies Juice Profits
Blake breaks down how AI can help with cost segregation and explains why AI currently works best on tasks that take humans 2-5 minutes. Michael Burry is betting against AI companies, claiming they're manipulating earnings by stretching server depreciation from 3-4 years to 5-6 years, adding billions to their bottom lines. Also covered: Intuit's $100 million annual OpenAI deal to integrate QuickBooks and TurboTax into ChatGPT, new bank evidence in the Rippling corporate espionage case, and a survey showing 10% of adults are acting on AI tax advice despite error rates up to 50%.SponsorsOnPay - http://accountingpodcast.promo/onpayRelay - http://accountingpodcast.promo/relayCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(00:00) - Welcome to The Accounting Podcast
(00:49) - Blake's Illness and Recovery
(02:05) - Upcoming Topics
(04:06) - Cost Segregation Explained
(06:46) - AI in Cost Segregation
(11:15) - AI's Current Capabilities and Limitations
(19:10) - Intuit's OpenAI Deal
(22:01) - Intuit's Strategy and Industry Implications
(30:12) - Michael Burry's New Bet Against AI
(31:21) - Depreciation and AI Companies
(39:15) - Rippling vs. Deel: Corporate Espionage
(42:44) - New Jersey's Alternative Pathways Bill
(44:39) - AI's Role in Tax and Investing Advice
(47:37) - Defining Audit Quality: PCOB's New Initiative
(51:56) - FASB's Costly Lease Standard
(56:13) - Ancient Accounting Systems in Peru
(58:45) - Conclusion and Viewer Interaction
Show NotesAI Is Now a First Stop for Tax and Investing Questions - CPAs Need a Playbook Fasthttps://www.cpapracticeadvisor.com/2025/10/29/ai-is-now-a-first-stop-for-tax-and-investing-questions-cpas-need-a-playbook-fast/171939/ 19% lost $100 or more on bad AI financial advicehttps://www.accountingtoday.com/news/19-lost-100-or-more-on-bad-ai-financial-advice Intuit to pay OpenAI over $100 million for model access, ChatGPT integrates with TurboTaxhttps://www.cnbc.com/2025/11/18/intuit-pays-openai-100-million-turbotax-integrates-chatgpt.html Intuit Strikes $100M Deal to Bring TurboTax and QuickBooks Into ChatGPThttps://www.eweek.com/news/intuit-100m-chatgpt-deal/ Intuit signs $100M+ deal with OpenAI to bring its apps to ChatGPThttps://techcrunch.com/2025/11/18/intuit-signs-100m-deal-with-openai-to-bring-its-apps-to-chatgpt/ Intuit and OpenAI join forces on new AI-powered experienceshttps://openai.com/index/intuit-partnership/ 'Big Short' investor Michael Burry accuses AI hyperscalers of artificially boosting earningshttps://www.cnbc.com/2025/11/11/big-short-investor-michael-burry-accuses-ai-hyperscalers-of-artificially-boosting-earnings.html Michael Burry Hits Back At Critics: Accuses AI Companies Of 'Suspicious Revenue Recognition' And Depreciation Gimmicks: 'Fraud, Not A Flywheel'https://www.benzinga.com/markets/hedge-funds/25/11/48967194/michael-burry-hits-back-at-critics-accuses-ai-companies-of-suspicious-revenue-recognition-and-depreciation-gimmicks-fraud-not-a-flywheel Fireside chat with PCAOB acting chair George Botichttps://www.accountingtoday.com/opinion/fireside-chat-with-pcaob-acting-chair-george-botic New Banking Records Prove Deel Paid Thief Who Stole Trade Secrets from Rippling https://www.rippling.com/blog/new-banking-records-prove-deel-paid-thief-who-stole-trade-secrets-from-rippling Newly unsealed documents tie Deel to payments for alleged Rippling spy, while Deel points to witness incentiveshttps://www.calcalistech.com/ctechnews/article/h1ysgtng11l FASB Says Certain Costs of Leases Standard Were Significantly Higher Than Expectedhttps://www.cpapracticeadvisor.com/2025/11/20/fasb-says-certain-costs-of-lease-accounting-standard-were-significantly-higher-than-expected/173680/ FASB finds leases standard was costlier than expectedhttps://www.accountingtoday.com/news/fasb-finds-leases-standard-was-costlier-than-expected NJ's once-stalled CPA licensing bill advances after 'surprise' votehttps://www.cfodive.com/news/njs-once-stalled-cpa-licensing-bill-advances-surprise-vote-accounting/805589/ Indigenous accounting and exchange at Monte Sierpe ('Band of Holes') in the Pisco Valley, Peruhttps://www.cambridge.org/core/journals/antiquity/article/indigenous-accounting-and-exchange-at-monte-sierpe-band-of-holes-in-the-pisco-valley-peru/41D83389D230D99CFF18194CF274A9A3 Peru's ancient 'band of holes' mystery may be solvedhttps://edition.cnn.com/2025/11/21/science/peru-band-of-holes-mysteryNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on
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1:00:43
The Future of Advisory: Unlocking Your Firm’s CFO Potential (from The Earmark Podcast)
Earmark Media Presents a bonus episode of Earmark Podcast:Live from Boston on the final stop of the Advisory Amplified tour, Blake sits down with James Erving from Fathom and Chris Macksey from Prix Fixe Accounting to explore what advisory services really mean beyond bookkeeping and compliance. Chris shares how his firm requires advisory for all restaurant clients, using industry expertise and operational metrics to guide decisions on everything from menu pricing to expansion timing. The conversation covers the difference between delivering information versus being integral to decision-making, with insights on forecasting, benchmarking, and why visual KPIs help clients with low financial literacy understand their business performance.Meet Our GuestsJames ErvingLinkedIn: https://www.linkedin.com/in/jameserving/Learn more about FathomOfficial website: http://fathomhq.comChris MackseyLinkedIn: https://www.linkedin.com/in/cmacksey/Learn more about Prix Fixe AccountingOfficial website: https://prixfixe.accountants/Need CPE?Get CPE for this episode: https://earmark.app/c/2912Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant 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 classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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Leading with Empathy: Building Teams That Thrive (from The Earmark Podcast)
Earmark Media Presents a bonus episode of Earmark Podcast:On the fifth stop of the Advisory Amplified tour in Atlanta, Blake sits down with Lisa Gilreath of Acuity and Valerie Heckman of OnPay to discuss what empathetic leadership actually looks like in an industry notorious for long hours and tight deadlines. The conversation covers everything from recognizing when team members are struggling to handling toxic high performers, with real talk about building slack into capacity planning and why unused PTO is a red flag. Lisa and Valerie share concrete steps for creating a culture where people feel supported enough to lean in when it matters most.Meet Our GuestsValerie HeckmanLinkedIn: https://www.linkedin.com/in/valerieheckman/Learn more about OnPayOfficial website: https://onpay.comLisa GilreathLinkedIn: https://www.linkedin.com/in/lisa-gilreath-2ba506a/Learn more about SorrenOfficial website: https://sorren.com/Need CPE?Get CPE for this episode: https://earmark.app/c/2909Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant 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 classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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Banking on Change: How Renegade Firms Redefine Success (from The Earmark Podcast)
Earmark Media Presents a bonus episode of Earmark Podcast:Live from Austin on the Advisory Amplified tour, Blake sits down with Madeline Reeves of Fearless Foundry and Wesley McDonald of Relay to explore what it truly means to be a renegade in accounting: firms that lead clients to somewhere new rather than settle for "the way things have always been done." The conversation explores why top firms aren't afraid to say no to the wrong clients, how transparency in compensation and career pathways can address the talent crisis, and the hard-won lessons learned about building cultures of collaboration over competition.Meet Our GuestsMadeline ReevesLinkedIn: https://www.linkedin.com/in/madelinefearless/Learn more about Fearless FoundryOfficial website: http://www.fearlessfoundry.comWesley McDonaldLinkedIn: https://www.linkedin.com/in/wmcdonald48/?originalSubdomain=caLearn more about RelayOfficial website: https://relayfi.comNeed CPE?Get CPE for this episode: https://earmark.app/c/2880Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant 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 classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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Unlocking Capacity: The Workflow Revolution (from The Earmark Podcast)
Earmark Media Presents a bonus episode of Earmark Podcast:Blake sits down with Mary Delaney, CEO of Karbon, and Kenji Kuramoto, co-founder of Acuity, to explore how standardizing workflows can unlock growth without sacrificing the artistry of advisory work. They discuss Karbon's acquisition of Aider, the power of time studies to identify automation opportunities, and why getting senior advisors to embrace process requires framing workflow as empowerment rather than micromanagement. Kenji shares lessons from building Acuity's advisory practice and why workflow due diligence became critical during their 14-firm merger with Sorren.Meet Our GuestsMary DelaneyLinkedIn: https://www.linkedin.com/in/marywdelaney/Learn more about KarbonOfficial website: http://karbonhq.comKenji KuramotoLinkedIn: https://www.linkedin.com/in/kenjikuramoto/Learn more about AcuityOfficial website: https://acuity.coNeed CPE?Get CPE for this episode: https://earmark.app/c/2877Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant 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 classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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.
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