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“AI Inside” – What Does that Even Mean?
Remember back in the day when having your tax and accounting software in the "Cloud" was the newest, coolest thing? Even if it took us 10 years to realize that the "cloud" just meant someone's server somewhere else? Similarly, have you noticed that our tax and accounting products have a sprinkling of AI now? And if they don't, they're talking about how they'll be AI-ing soon? (And if they're not talking about it, do we even want them in our toolbox?) Let's chat about what it means to have "AI Inside", especially with the rise of tools like ChatGPT and Bard. The "AI Inside" label is becoming ubiquitous but can mean many things, so let's discuss. I'd hate for you to get excited about an AI feature only to discover that you can access it via one of the widely available Generative AI (GenAI) tools (ChatGPT, BingChat, Bard, Claude, etc.). While this new technology has fundamentally shifted everything, what does it mean for us as tax professionals? On this journey of exploring what "AI Inside" really means, we're going to discuss what's going on under the hood. We'll also dive into why creating a fully functional "TaxGPT" is challenging right now. (Notice I said "right now"). Finally, we can look at what "AI Inside" tools would be handy, even if you CAN get that functionality out of the regular ol' GenAI applications. In the end, you'll know whether to be impressed or pass. And, even more importantly, you'll know whether to spend the extra money on those tools.
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CURRENT EDITION
Summertime Marketing in Your Tax & Accounting Firm
Tax season is prosperous, summer is dry until extension season. Do you find yourself in that cycle? Clients are “easy” to get during tax season when taxes are top of mind. Then the direct deposits go dry by June, and you are looking for what’s next. Stop the search, you don’t have to add another service. You need better marketing to highlight the service that you offer and specialize in. This will allow you to have a predictable client pipeline. You can do tax preparation, planning, and or representation all year long.
Observations on the House-Passed OBBB
This article focuses on the OBBB from the House offering a variety of observations to help understand the range of changes, relevance to compliance and planning, process considerations and some unexpected provisions. While the final OBBB will not include all of the House provisions or will modify some of them, there are lessons to learn to understand the tax legislation process and results now and in the future.
Client Retention as a Prospecting Strategy: Turning Current Clients into Referral Sources
In the competitive accounting world, where trust and reliability are paramount, client retention is not just a success metric—it’s a vital strategy for sustainable growth. For Certified Public Accountants (CPAs), accountants, and bookkeepers, maintaining a solid relationship with existing clients can unlock new business opportunities, turning satisfied clients into powerful referral sources.
SIMPLIFIED TAX STRATEGIES &
PRACTICAL IMPLEMENTATION
Think Outside the Tax Box provides tax reduction strategies along with practical
implementation advice in order to reduce your clients’ federal tax bill with ease.
