⬇️ 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

Roofing Company’s $2.5 Million Tax Dodge

A roofing company owner and his accountant just pled guilty to a $2.5 million IRS scam. They faked expenses, stashed cash, and tried to dodge taxes.

The IRS caught on, and now they’re both facing the fallout. Moral? You can’t outsmart the taxman.

Source: Nasdaq

💎 What’s poppin in accounting

Deepfakes and Financial Fraud

Deep Fakes are now a serious threat in finance. Imagine a CEO “calls” an accountant, requesting an urgent transfer, only it’s not actually the CEO, but a deep fake video created by scammers. 

These fake videos and audio clips can look and sound real, leading to unauthorized transactions and data breaches. Accountants need to stay sharp, double check communications, and boost security to keep these scams at bay.

💰 Todays Deal

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Bitcoin Crosses $1.6 Trillion Market Cap

Bitcoin just crossed the $1.6 trillion mark in market value, marking a huge moment for crypto. With interest from big investors and more mainstream acceptance, the digital currency is seeing new levels of influence. 

For anyone watching crypto, it’s a clear sign that Bitcoin isn’t just a trend, it's reshaping the financial landscape.

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