The Friday 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

Accountant Steals Clients Tax Payments

A Missoula accountant just admitted to stealing clients’ tax payments instead of sending them to the IRS. Clients thought they were in the clear, until the IRS came knocking.

The accountant, who ran a tax prep business, pocketed the money and left clients stuck with unpaid taxes, penalties, and interest. Now, they’re facing wire fraud and aggravated identity theft charges, which could land them in federal prison for up to 20 years.

Source: Justice.Gov

💎 What’s poppin in accounting

Sales Tax Chaos Incoming Thanks to Inflation

With inflation still high and elections around the corner, states are feeling the pressure to adjust sales tax policies, and businesses are caught in the middle. Some states are raising rates to cover budget gaps, while others are pushing for cuts to win voter approval.

For accountants, this means more complexity, more audits, and more headaches. With tax laws shifting based on politics and economic pressures.

Source: Accounting Today

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 📊 Weekly Trend Chart

McDonald’s Is Super Sizing Its Empire

McDonald’s is on track for its biggest expansion ever, aiming to hit 50,000 locations by 2027. That’s over 9,000 new restaurants in just a few years, faster growth than any period in its history.

Why the push? The Golden Arches are thriving, with sales up and stock hitting all-time highs. More stores mean more market domination, proving that even in a shaky economy, cheap fast food still wins.

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