The Accounting Podcast

Accounting for the U.S. Iran War

The Accounting Podcast

Show Notes

What do tariffs, war, AI agents, and a collapsed accounting startup have in common? This week, Blake and David connect the dots between rising economic pressure and rapid tech change. They break down the lopsided cost of drone warfare, small businesses getting crushed by tariffs, AI tools handling tax and bookkeeping tasks, and new details on Botkeeper’s collapse. You’ll hear what these shifts could mean for accountants, firms, and the future of the profession.

Sponsors UNC - http://accountingpodcast.promo/unc OnPay - http://accountingpodcast.promo/onpay Cloud Accountant Staffing - http://accountingpodcast.promo/cas

Chapters (01:27) - Sponsor Break UNC

(02:46) - War Costs and Drones

(08:58) - GPT 5.4 for Accountants

(11:13) - AI Agent Files City Tax

(15:23) - Claude Skill for Tax Prep

(17:11) - Sponsor Break OnPay

(18:55) - Gemini Makes Theme Music

(22:33) - Uber CEO AI Clone

(24:22) - Botkeeper Collapse Follow Up

(31:13) - QuickBooks Integration Doubts

(31:53) - Cloud Accountant Staffing Spot

(32:59) - KPMG Earnings Leak Theory

(37:23) - Zapier AI Guardrails

(39:43) - 401k Hardship Withdrawals Rise

(43:02) - Tariff Refunds and AI Lawsuits

(46:27) - Trump v Trump IRS Lawsuit

(48:43) - IRS Union Contract Termination

(50:01) - Direct File Act Returns

(51:56) - Meta 16B Tax Fight

(54:33) - Trump Accounts Auto Enrollment

(56:13) - Accounting Degrees Loan Limits

(57:39) - CPE App and Sign Off

Show Notes Iran's Drones Cost a Fraction of the U.S. Weapons Shooting Them Down https://www.nytimes.com/2026/03/04/business/iran-drones-us-weapons-cost.html

Introducing GPT-5.4 https://openai.com/index/introducing-gpt-5-4/

Breaking Up with TurboTax: How I Used Claude to File My Taxes for Free https://kachess.dev/taxes/ai/personal-finance/2026/02/27/breaking-up-with-turbotax.html

Show HN: Claude Skill to Do Your Taxes https://news.ycombinator.com/item?id=47277164

Enrico Palmerino Explains Botkeeper's Fall https://www.accountingtoday.com/news/enrico-palmerino-explains-botkeepers-fall

Uber CEO Dara Khosrowshahi Has an AI Clone https://www.fastcompany.com/91500087/uber-ceo-dara-khosrowshahi-has-an-ai-clone

KPMG-Audited Companies Are Trading Strangely on Polymarket https://eventwaves.substack.com/p/kpmg-audited-companies-are-trading

Zapier Updates: AI Guardrails & Governance Controls https://zapier.com/blog/february-2026-product-updates/

Record Numbers of Workers Are Raiding Their 401(k) Savings https://www.wsj.com/personal-finance/retirement/401k-hardship-withdrawals-record-vanguard-2025

For Some Small Businesses, a Tariff Refund Isn't Worth the Pain of Pursuing It https://finance.yahoo.com/news/small-businesses-tariff-refund-isnt-worth-pain-pursuing-it.html

Trump's IRS Lawsuit Offers Lessons on Privacy and Legal Process https://news.bloombergtax.com/tax-insights-and-commentary/trumps-irs-lawsuit-offers-lessons-on-privacy-and-legal-process

Democrats Unveil Bill to Resurrect Direct File https://www.accountingtoday.com/news/democrats-unveil-bill-to-resurrect-direct-file

I.R.S. Tactics Against Meta Open a New Front in the Corporate Tax Fight https://www.nytimes.com/2026/02/24/business/irs-meta-tax-ireland.html

IRS Should Open Trump Accounts for Eligible Children Automatically, AICPA Says https://www.journalofaccountancy.com/news/2026/feb/irs-should-open-trump-accounts-for-eligible-children-automatically-aicpa-says/

NASBA Urges U.S. Department of Education to Restore "Professional" Status for Accounting Degrees https://nasba.org/blog/2026/03/05/status-for-accounting-degrees/ Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com

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 voicemai

More from The Accounting Podcast

Oct 22, 2026

AI outperformed 12 CPAs on a month-end close benchmark, but that doesn’t mean it can replace them. Blake Oliver and David Leary unpack the study’s limits and why adding AI to existing workflows may not save time. They also explore survey findings that accounting budgets triple when businesses hit $1 million in revenue, plus why most firms are invisible in AI searches. Learn what these shifts mean for your firm’s processes, pricing, and marketing.

Oct 7, 2026

Could AI replace your CFO or simply make their job more exhausting? Blake and David debate automation’s limits, unpack an enrolled agent’s log of 188 IRS calls, and explore proposed reforms to taxpayer service. They also examine why AI is putting pressure on billable hours, gaps in AI safety audit requirements, and a romance scam victim’s $225,000 tax bill. Learn what these developments could mean for your firm, clients, and workload.

Oct 1, 2026

Will AI replace accountants—or finally ease the profession’s talent shortage? Blake and David unpack why AI-exposed accounting roles are seeing pay rise, not fall; how EY cut audit deficiencies from 28% to under 5%; and why firms must give AI agents limited access and auditable logins. They also explore the coming firm structure: fewer staff, more AI agents, and partners focused on judgment, review, and client relationships.

Sep 25, 2026

Could AI make a one-person audit firm possible—and what happens if the data-center boom slows down first? Blake and David examine the AI economy’s circular debt, the construction ripple effects of a pullback, and practical ways firms can document workflows before automating them. They also cover AI-powered continuous audits, Mercury’s new general ledger, and tax evasion headlines.

Sep 18, 2026

Is AI the real threat to accounting firms, or is it the client experience? Blake and David unpack a KPMG-linked Polymarket insider-trading investigation, AI-powered fraud, Xero’s influencer backlash, and a tax startup founder charged with defrauding investors. They also share their own experiments using Claude and ChatGPT to prepare tax returns, making the case that firms must eliminate frustrating back-and-forth if they want to keep clients.

See all episodes →