Two Drunk Accountants

This week we discuss 5 pieces of the data that you will likely overlook that will greatly increase your risk of being reviews or audited by the ATO.    Links: Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: twodrunkpodcast@gmail.com ATO Industry Code Finder: https://www.ato.gov.au/calculators-and-tools/businesses-industry-code-tool  

This week we tackle another set of financial statements from an interesting point in time, Twitter circa 2021. Tim has seen them, Dan has not. Can he answer whats good, whats not good, what is the industry, what is the business and would he invest? Find out as we deep dive and analyse Twitters financials!  Don't forget you can submit your anonymised financial statement for us to review on a future episode of Show us ya books! by emailing them to twodrunkpodcast@gmail.com.   Links: Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au    

This week we recap our time at Xerocon! We rehash the fun times and of course all the product announcements from Xero this year. We chat to Angad Soin Manage Director of Xero Australia and NZ and Chief Global Strategy Officer and debrief with friend of the pod Heather Smith! 

This week Dan is joined by Liam Hindle Head of Product Marketing at MYOB to discuss their Accounting Industry Monitor report. We discuss what they found the best firms were doing in areas like talent retention and tech/AI. Links: MYOB Accounting Industry Monitor Report - Here Website: https://twodrunkaccountants.com.au/ Instagram: https://www.instagram.com/twodrunkaccountants/ Youtube: https://www.youtube.com/@TwoDrunkAccountants   Chapters 00:00 Introduction and Humor in Accounting 02:44 The Impact of COVID on Health Awareness 05:35 Overview of the MYB Accounting Industry Monitor Report 08:18 Talent Shortages in the Accounting Industry 11:05 Investing in People and Processes for Growth 13:52 Automation and Technology in Accounting Practices 14:56 The Importance of Client Engagement 17:07 Enhancing Client Onboarding Experiences 19:06 Navigating AI in Accounting 21:00 The Evolving Role of Accountants 22:49 Adapting to Technological Changes 23:37 AI Innovations in Accounting Software 26:30 The Future of Agentic AI 27:48 Practical Applications of AI in Accounting

This week we go full clickbait and discuss how you can deduct your home loan interest. We cover the general mistakes peoples make when borrowing against their home for investments and the issue around lending this money to a discretionary trusts. We also discuss our hair for an extended period.   Website: https://twodrunkaccountants.com.au/ Instagram: https://www.instagram.com/twodrunkaccountants/ Youtube: https://www.youtube.com/@TwoDrunkAccountants

This week Tim and Dan discuss how we are currently using AI in our business and what we are finding it can and can't do.    Website: https://twodrunkaccountants.com.au/ Youtube: https://www.youtube.com/@TwoDrunkAccountants Socials: @twodrunkaccountants

This week Tim and Dan cover the updated superannuation laws taxing unrealised gains. We also discuss some other tax reform being discussed in the lead up to the Economic Reform Roundtable...which we have not been invited to.    Website: https://twodrunkaccountants.com.au/ Email: twodrunkpodcast@gmail.com Insta: https://www.instagram.com/twodrunkaccountants/ Youtube: https://www.youtube.com/@TwoDrunkAccountants

This week Tim and Dan go full mythbusters style and discuss the viral videos doing the rounds about whether you can use your tax to pay down your mortgage. Will it be true? Will it be busted? Find out this week.    Website: https://twodrunkaccountants.com.au/ Email: twodrunkpodcast@gmail.com Insta: https://www.instagram.com/twodrunkaccountants/ Youtube: https://www.youtube.com/@TwoDrunkAccountants    

This week Tim give his tips for running a small business and having a young family while Dan with no kids plays devils advocate.   Sponsored: Accsouce - email john.m@accsource.net to receive 30 day free trial.

This week Tim and Dan tackle a common questions when starting a family business, can I hire my spouse or kids? Can I distribute income to them? 

This week Tim and Dan play another round of everyones favourite new game Show Us Ya Books! Can Tim guess the business correctly? Will he make a fool of himself? Do we wish we invested in this company? Find out!

This week Dan reveals why he and Tim have bad blood, we begin our question for Xerocon tickets and discuss why using the immediate write off over COVID might come back to cost you more tax now. 

Its the end of the year as we know it, and Tim and Dan have made a little jingle to help you remember what you need to do before 30 June! Plus we discuss the top 10 things you consider before 30 June. 

Dan and Tim dodge death, battle a rogue office mouse, and somehow tie it all back to gratitude and balance sheets. In their new segment "Show Us Your Books," they crack open Lehman Brothers’ financials like a cold one—revealing red flags, dodgy debt, and the truth behind “growth.” Laughs, lessons, and a little light accounting—what more could you want?

This week on the pod, Tim and Dan pour a Hugo Spritz and dive into the nitty-gritty of getting paid from your biz. They break down how sole traders, companies, and trusts all do it differently, and why your personal budget matters more than you think when it comes to tax. Along the way, they swap some travel tales with a side of cultural spice and hammer home why keeping your paperwork in check is a game-changer for financial planning. It’s a classic mix of banter and business — making money talk a little less boring, one episode at a time.

This week on The Two Drunk Accountants, Tim sits down with leadership expert John Munden for a chat that swings from air fryers to Apple, and everything in between. They dive into the big stuff—empathy, kindness, connection—and how those warm-and-fuzzy words actually make a huge impact on team performance and business culture. John shares stories from his time working with companies like Xero and Apple, and why creating psychological safety at work isn’t just a buzzword—it’s essential. Plus, they get real about micromanagement, coaching, and why your team (and your relationships) probably just need a bit more love. Oh, and yes, we do talk about air fryers.

Dan and Tim sit down with the awesome Shari Elle to unpack this thing called Nonviolent Communication — or NVC for those of us who like to keep things snappy. And no, it’s not about yelling less at your coworkers (although... also yes). It’s about actually listening to people, understanding their needs, and not being a total muppet in tough convos. They get into how this stuff can totally flip the script in both business and personal life. Think: more empathy, more connection, less passive-aggressive Slack messages. Shari drops some wisdom on how tuning into your own feelings (we have those?) can seriously level up how you talk to your team, your family, and maybe even your accountant.   Special Offer just for Drunk Accountants Listeners… until the end of 2025, you can get a 20% discount on NVC's “Leading with Connection” 2-day Professional Foundation Training, it will enrich your Leadership and all your relationships, professional and personal.  Code is “DRUNK20%”.

In our final episode of Tradie month, we are joined by Nic Cox, Co-Founder of Tradies in Business.  Nic and Tim dig into how AI and smart software can save tradies time, cash, and headaches. From job management to quoting and keeping the books in line — it's the ultimate tech toolbelt for running a slicker biz.

Think you’re charging enough? Think again. Dan and Tim get real about the nitty-gritty of tradie charge-out rates—why most are too low, what costs you're probably forgetting, and how to price like a pro without scaring off clients. From dodgy margins to time-tracking fails, they’re breaking it all down with no fluff. Plus, hear about their big plans for tradie boot camps that’ll get your business firing on all cylinders. If you're tired of working hard for too little, this one’s for you. Want to Join our Bootcamp? Register HERE   P.S A sheep shepherd's hourly rate in NSW would typically range from $35 - $45 per hour. 

Welcome to Episode 1 of Tradie Month! Now, you know we love a listical, and in true Tim & Dan fashion we are making a list of the 5 biggest killers of cashflow for tradies.