⬇️ The Wednesday Lowdown ⬇️

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

I scroll. so you don’t have to.

💎 WTF of the Day

EY Fires Staff for “Cheating” 

EY just fired dozens of staff members for taking multiple online training courses at once, calling it "cheating." But here’s the twist, several employees claim that upper management encouraged them to get creative with their time by completing multiple trainings simultaneously.

Some employees feel like they were set up, where following the rules might still get you fired.

💎 What’s poppin in accounting

IRS adjusts tax amounts for inflation for 2025

The IRS just announced its annual inflation adjustments for 2025. These updates could impact how much you owe, or save in the coming years. 

Key changes:

• Standard Deduction: For single filers, it increases to $15,000 (up by $400), and for married couples filing jointly, it rises to $30,000 (up by $800).

• Tax Brackets: The top tax rate of 37% applies to incomes over $626,350 for individuals and $751,600 for married couples. The lowest rate of 10% covers incomes up to $11,925 for individuals or $23,850 for married couples.

• Other Changes: The earned income tax credit maximum for families with three or more children rises to $8,046, and the monthly qualified transportation fringe benefit limit increases to $325.

💎 Did you know?

The 97 Year Audit

Ever heard of a project taking 97 years to finish? Well, that’s exactly what happened with the English  audit.

It’s like mixing a slow government system with a huge pile of paperwork. Each generation of auditors just kept passing it on. The complexity of the old-school accounting methods and the sheer volume of records made it a never ending task.

Imagine auditing your entire family’s expenses, going back 300 years! The audit finally wrapped up in 1932, and it's still one of the longest ever recorded.

 📊 Weekly Trend Chart

Netflix is Eating Everyone’s Lunch 🍿

Netflix is absolutely killing it right now. Not only are they keeping Disney+ and HBO Max in check, but their latest earnings show they’re way ahead. What’s the secret sauce? 

Simple, they’ve got a powerhouse combo of original hits (One Piece, The Witcher), global expansion, and that ruthless password sharing crackdown that’s making bank (sucks for moochers, but genius move). And, they’re dipping into gaming and merch too.

While everyone else is stuck in survival mode, Netflix is building an empire. 

#😂

😂 when people ask me about our company culture I'm just going to show them this.

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