The Thursday 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

School exec gave millions in deals to his friends

Anthony Manning, the former head of School Infrastructure NSW, is under investigation for giving over 12 million dollars in public contracts to people he was personally close with, including yoga buddies and cycling pals. One contract was worth 39 million dollars and collapsed, wasting 5 million in taxpayer money.

Manning had with firms like PwC and Paxon Consulting. Whistleblowers say they were pushed out for speaking up.

Source: Accounting Times

💎 What’s poppin in accounting

HSA limits will rise slightly in 2026

The IRS just said you can put a bit more money into your HSA in 2026. The new cap will be 4,400 dollars for individuals and 8,750 for families. Deductibles and out of pocket maxes for high deductible plans are also getting small bumps.

It is not a big jump like we saw in past years. Inflation is cooling off, so the IRS is not adjusting as much as before.

Source: SHRM

 📊 Weekly Trend Chart

Bets On The Next Pope Have Surged

Pope Francis has died and the conclave to pick the next pope just began. Over 20 million dollars has already been bet on Polymarket and other sites trying to predict who gets the job.

Top picks are Pietro Parolin from Italy and Luis Antonio Tagle from the Philippines. But the vote is completely secret. The only clue is the smoke. Black means not yet. White means we have a pope.

#😂 

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