The Monday Lowdown ⬇️

If you're new around here, every day I share the 4-5 best accounting insights I saw in the past 24 hours.

I scroll. so you don't have to.

💎 WTF of the Day

How the DOE Blew Your Money

The Department of Energy just got caught blowing nearly $1 billion of your money. An audit found $814 million wasted on mismanaged projects and another $123 million spent on things that didn’t deliver. Example A $53 million software system that never worked and millions more spent on contracts for services no one used.

This isn’t their first rodeo. Remember the $1 billion Crescent Dunes Solar Project? Yeah exactly It was hyped as the future of energy but it became completely useless before it even went online.

Now Trump is rolling out a new plan called the Department of Government Efficiency. With Elon Musk and Vivek Ramaswamy at the wheel the goal is simple cut $2 trillion in waste and stop this madness. Fingers crossed.

💎 What’s poppin in accounting

IRS Budget Cuts Could Shake Up Crypto Accounting

The IRS is losing $20 billion in funding, With fewer resources, audits will slow down, and enforcement on crypto tax rules will take a backseat. Sounds good, right? Not so fast.

Here’s the problem, less oversight means less clarity. Accountants will have to deal with even murkier rules, making crypto tax season a bigger headache. To put it in perspective, the IRS seized $3.5 billion in crypto tied to illegal activity in 2021. With cuts like this, those crackdowns could be history.

For accountants, it’s the Wild West all over again.

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 📊 Weekly Trend Chart

Meta Spends $23M to Keep Zuck Safe

Meta dropped $23.4 million in 2023 to keep Mark Zuckerberg secure. That’s $9.4 million for security services and $14 million for “personal security expenses.” Why? Meta says Zuck is basically a walking Meta billboard, making him a high-profile target.

Tesla spent $2.4 million on Elon Musk. But Zuck’s tab isn’t just big, it’s the biggest among all US public companies.

Fun fact, his security setup includes bulletproof glass at his home and a 24/7 security team for his family.

Overkill or just good planning?

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