The Tuesday 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

Musk’s Email to IRS Workers Sparks Federal Chaos

Elon Musk, through his government efficiency project (DOGE), sent federal employees an email demanding they list their weekly accomplishments or risk termination. Agencies have been scrambling to figure out how to handle it. The Treasury Department told IRS workers to respond, while other agencies, like the Justice Department told their staff to ignore it.

Confused? So is everyone else. Federal unions are calling it an overreach, and the Office of Personnel Management later clarified that replying is voluntary despite Musk’s initial threat.

Source: Bloomberg Tax

💎 What’s poppin in accounting

Grant Thornton Launches New Services for SMEs

Grant Thornton just launched a new service line aimed at SMEs, that’s small and medium-sized businesses (aka the backbone of most economies). These are the companies that aren’t massive corporations but still employ a ton of people and drive local economies. Grant Thornton’s new team will help them hire better talent, expand internationally, use AI smarter, and plan tax-efficient exits when it’s time to sell or pass on the business.

Why now? SMEs are growing fast, but they often lack the resources and advice big companies get. This move isn’t just good PR, it’s big business. Helping these companies scale means more clients, more revenue, and a stronger foothold in the market, Grant Thornton wants to be their go to guide.

Source: Accountancy Today

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 📊 Weekly Trend Chart

YouTube’s Ad Revenue Is Catching Netflix

YouTube's advertising revenue is catching up to Netflix's total earnings. In 2024, YouTube pulled in $36.1 billion from ads, while Netflix reported $39 billion in total revenue. The gap is narrowing, with YouTube's ad business now nearly matching Netflix's entire operation.

This surge highlights YouTube's dominance in the digital ad space, especially as more traditional media companies expand their content on the platform to reach wider audiences. As YouTube continues to grow, it's becoming a formidable competitor not just in user generated content but also in premium entertainment.

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