TurboTax Losing Customers Over Price, Thomson Reuters Builds Own AI

Can AI make tax prep cheaper without replacing the experts behind it? Hector Garcia joins Blake and David to unpack Intuit’s TurboTax pricing pressure, QuickBooks’ push into the mid-market, and whether AI-powered services are a bridge to automation. They also examine Thomson Reuters’ proprietary tax-and-legal AI model, Relate’s $100 million raise, and a student’s unusual path onto the New Mexico Board of Accountancy. Sponsors Cloud Accountant Staffing - accountingpodcast.promo Thomson Reuters - accountingpodcast.promo OnPay - accountingpodcast.promo Savant Labs - accountingpodcast.promo Chapters (00:00) - TAP 503 (02:47) - Intuit earnings overview (03:52) - Meet Hector Garcia (04:40) - Intuit stock and AI fears (07:57) - TurboTax pricing pressure (11:34) - TurboTax Live strategy shift (16:12) - TurboTax Live vs firms (19:47) - AI plus human bridge (22:13) - QuickBooks Free and Light (25:54) - Thomson Reuters builds LLM (30:29) - Trust security and ownership (34:16) - Vertical models disrupt giants (35:18) - Copilot partnership pitch (36:51) - Bulk AI Adoption (38:59) - Rillet Unicorn News (39:21) - Workday Buyout Math (40:50) - Switching Costs Reality (43:12) - Intuit Versus Rillet (45:26) - How Rillet Wins (48:18) - AI Spend Line Item (51:15) - Stripe Buys OpenRouter (53:22) - Reframe Conference Pitch (56:01) - Pablo Pledgebar Cautionary (57:08) - Britton Joins Board (01:01:37) - Student View On PE (01:04:57) - Education And AI Concerns (01:09:33) - Board Dynamics Explained (01:12:12) - Regulation Priorities (01:15:13) - Wrap Up And CPE Show Notes Intuit Reports Fourth Quarter and Full Year Fiscal 2026 Results; Sets Fiscal 2027 Guidance investors.intuit.com Thomson Reuters Leverages its World-Class Data Assets to Launch Its Own Frontier Model thomsonreuters.com Rillet Raises $100 Million Series C at $1 Billion Valuation, Becomes Unicorn techcrunch.com Silver Lake Eyes $51 Billion Workday Take-Private in Mega Software Deal axios.com Stripe Agrees to Acquire OpenRouter to Help Businesses Optimize Token Routing and Usage stripe.com From Accounting Major and Frat Brother to Suspected of Being Penn State's Largest Drug Dealer nbcnews.com Accounting Student Appointed to the New Mexico Public Accountancy Board news.unm.edu Need CPE? Get CPE for listening to podcasts with Earmark: earmarkcpe.com Subscribe to the Earmark Podcast: podcast.earmarkcpe.com Get in Touch Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary . Find us on Facebook and Instagram . If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser . Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040. Sponsorships Are you