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accounting profession to experience highest ai impact

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a new research report hints at future opportunities for accountants.

by hitendra patil
client accounting services: the definitive success guide

openai, the creator of the wildly popular artificial intelligence (ai) tool chatgpt, conducted a new research study with the university of pennsylvania. it identified the occupations with the most significant impact potential because of large language models (llms, like chatgpt). among the occupations with the highest exposure to ai are accountants, auditors and tax preparers!

more: be serious about ai, not amused
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what does it mean?

1. to quote some (edited somewhat for more straightforward reading) of the essential notes from the research:

  • which occupations will see gpt-powered software saving workers a significant amount of time completing a task while maintaining equivalent quality? workers facing higher (lower) barriers to entry in their jobs tend to experience more (less) exposure to llms. (gpt = generative pre-trained transformer.)

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clientele and revenues rising, but …

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… is expansion cutting into profits?

by 卡塔尔世界杯常规比赛时间 research

client rosters, revenue and profits all seem to be rising, according to the 卡塔尔世界杯常规比赛时间 busy season barometer – and rising more than expected.

more: should tax preparers be certified competent? | have no fear, april is here | survey: busy season looking good | on business outlook, cpas are confident … and concerned | tax pros offer advice for small businesses | busy season barometer finds many cpas in transition | more cpas see worsening economy | has early tax season optimism peaked?
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most impressive, and curious, is the radical rise in numbers of clients. for 22 percent of respondents, clientele has expanded by more than 10 percent. another 43 percent have seen increases of 5 to 10 percent. only 13 percent have seen any significant decrease.
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put your linkedin profile to work

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official_logo_linkedin

five ways to improve it today.

by sandi leyva
the complete guide to marketing for tax & accounting firms

your linkedin profile is just as important as your website these days. it’s not uncommon at all for small business owners to check out your profile before contacting you. if your profile doesn’t measure up, then you might not get the lead. here are five ideas to get the most out of your linkedin profile.

more: leverage your client list today | why you need a link-in-bio tool | five emotional skills for entrepreneurs | transform your marketing with crm | five kinds of small thinking
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1. write a friendly, keyword-filled background. 

on linkedin, the best backgrounds are less formal, more friendly and conversational in style. let people know what drives you from a business standpoint, what you’re passionate about and who the ideal client is for you.
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personalize communication and set yourself apart from competition

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produce personalized videos with the push of a button.

by beth ziesenis
app of the week

according to a 2020 adobe survey of marketers and consumers, creating a personalized experience for customers increases loyalty, revenue and retention. this is good to keep in mind for get to know your customers day, the third thursday in april (and january, july and october).

more apps of the week:  make your computer a clean slate | recycle and repurpose old devices | enlist ai for more productive meetings | keep teams on task with project management apps | apps to put your affairs in order | app of the week: celebrate black business month | app of the week: cheap flights | help your clients save money | time to upgrade your spreadsheets | app of the week: secretly stash cash | easy apps for increasing client engagement with video | app of the week: grow your business knowledge and career skill sets | app of the week: upgrade your resume | app of the week: end procrastination | 
see all: apps of the week here |
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time to set up some personalization–and i have just the tool for you (and/or your marketing team).

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should tax preparers be certified competent?

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four recommendations for congress.

by 卡塔尔世界杯常规比赛时间 research

sad news for all you enrolled agents, enrolled actuaries, attorneys, cpas and other trained, competent tax preparers: you wasted your time and money on education. it turns out incompetence isn’t illegal. there are no standards, no mandatory credentials. anyone can claim to be a tax preparer.

more: irs: let the sun shine in … and out | irs has big plans for its $80 billion | can’t irs tax pro accounts do more? | hello? irs? anybody home? | taxpayer assistance centers need upgrade | at the irs, short on staff means short on service
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

best of all, when an incompetent preparer makes a mistake, it’s only taxpayers and the irs that suffer.
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have no fear, april is here

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most early fears were unfounded. but not all of them.

by 卡塔尔世界杯常规比赛时间 research

the 2023 卡塔尔世界杯常规比赛时间 busy barometer has detected a clear sign that this year’s tax season is working out better than expected … or should we say better than feared?

more: survey: busy season looking good | on business outlook, cpas are confident … and concerned | tax pros offer advice for small businesses | busy season barometer finds many cpas in transition | more cpas see worsening economy | has early tax season optimism peaked? | marchternity: just say ‘no’ | marchternity: the solution is community | how bullish are you this tax season? | accountants’ top problems for tax season 2023 | tax season 2023: better or worse?
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comparing the barometer’s early results with those near the end of the season, we see that the fears of many practitioners were unwarranted. the fears of february are quite different from the experiences of march.
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set expectations with an anticipatory set

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businesswoman using a tabletbonus: a full proposal for bos services.

by penny breslin
it’s not just the numbers

in 2000, our company created a quickbooks training dvd. the owner wanted it done professionally and hired a movie company and rented a studio. the rfp went out. all proposals received had a fee for discovery.

more: get the most out of your client meeting | why bos calls for flat rates | procedures require regular revisiting | why federated search matters | tips for getting clients started on bos | the best tech for your team and clients | marketing? know your goals first | eight things to stop doing now
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

today, if you were to hire a development team to create, update or install code, they would charge you a certain amount for discovery before they would do any actual coding. what you are paying for is the development of the anticipatory set and a clear definition of the scope.
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automation is key to cas

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hitendra patil cas q-and-a logoit’s about the best way to serve your clients.

by hitendra patil
client accounting services: the definitive success guide

q: what are some common challenges or obstacles that arise when providing client accounting services, and how can i overcome them?

more cas q&a: how to get clients to adopt caas tech | there are only three growth strategies | how much advice should your firm provide? | cas marketing is different. here’s how
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a: the only challenge/obstacle that matters when providing cas is clients not experiencing differentiated value from your cas offering. everything you do in your cas practice is to ensure you don’t face this challenge.
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irs: let the sun shine in … and out

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we need clear answers, not just an info dump.

by 卡塔尔世界杯常规比赛时间 research

could the internal revenue service be a little more transparent?

more: survey: busy season looking good | irs has big plans for its $80 billion | can’t irs tax pro accounts do more? | hello? irs? anybody home? | taxpayer assistance centers need upgrade | at the irs, short on staff means short on service
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national taxpayer advocate erin m. collins thinks so, and her reasons go beyond mere functionality.
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business won’t come to you

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hand using key to unlock doora proactive approach is where many fall short.

by martin bissett
business development on a budget

have you noticed all of those titles in the local bookstore or at the airport offering us the “key” to this and the “key” to that, the “six keys” to one thing, and the “four keys” to another?

more: where is your next money coming from? | forged in fire: the pains of leadership | a lesson in customer service and reputation | prioritize your prospects | good enough is not enough
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it also seems that every book is a “game-changer” now, to the point where it is difficult to understand what the game is anymore, never mind how to play it.
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average tax refunds down 10%

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table of irs weekly datareturns by tax pros are one of the only positives.

by beth bellor
卡塔尔世界杯常规比赛时间 research

the average tax refund is down 10 percent, but it’s just part of a pattern. virtually every piece of data the internal revenue service reports weekly is in the red.

more: irs has big plans for its $80 billion | tax pro e-filings up 3% | pros handle 45% of income tax returns | can’t irs tax pro accounts do more? | hello? irs? anybody home? | taxpayer assistance centers need upgrade
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the agency has received 90.1 million individual income tax returns as of march 31, the latest information available, down 1.3 percent from the same period in 2022. it has processed 89.7 million returns, up 0.4 percent.
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three ways to run a break-even analysis

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woman working on calculator in front of two computer monitorshow to tell what the profit should be.

by ed mendlowitz
77 ways to wow!

break-even analysis is a budgetary process designed to tell you how much sales are needed to break even, and how much you will make or lose if you exceed or fall short of this “break-even” sales amount. properly used, it can become a very potent tool.

more: the top 11 financial statement ratios | insurance you might not know you need | solos need plans for death, disability | you don’t need this, but your survivors do | five ways to ward off fraud in not-for-profits | client hires new manager: you need a plan | anatomy of a fraud
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in a break-even analysis, all costs and expenses must be separated into “fixed” and “variable” categories. designations such as “costs of goods sold,” “selling” or “general and administrative” are irrelevant.
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