⬇️ The Friday Lowdown ⬇️

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

I scroll. so you don’t have to.

Let’s get to it!

💎 WTF of the Week

Deloitte’s $2.4 Billion Tax Dodge

Deloitte, one of the Big Four accounting firms, helped their client, Liberty Global, try to avoid paying $2.4 billion in taxes. They used a complex offshore tax loophole, shifting money between different countries to lower their tax bill. The IRS caught on and blocked the move, calling it a clear case of tax evasion.

Here’s the kicker: after the IRS shut down the scheme, Deloitte stayed quiet about whether they used the same tax loophole for other clients. Liberty Global had denied that Deloitte created the scheme, but court documents hint that they were heavily involved in planning it.

💎 What’s Poppin in Accounting

Dockworkers Strike Paused

The dockworkers' strike? It’s all about labor negotiations, and the union’s holding off until January 15 to hash out a deal. The bad side? These strikes mess with supply chains and push up costs for businesses, which hits your bottom line.

The good? If they strike a deal, we might avoid bigger disruptions. Accountants, keep an eye on how this affects inventory and shipping costs this could impact year-end numbers and 2025 forecasts.

💎 Did you know?

CPA Retirement Gold Rush

Here’s the deal, 40% of CPAs are about to retire, and the pipeline of new talent is weak. Firms are betting big on AI to fill the gap, automating everything from bookkeeping to audits.

But here’s the catch, while AI is great for routine stuff, it’s still not replacing decades of experience. If you’re in accounting, the future looks part-human, part-machine. Time to get comfortable with both.

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