Struggling with tax complexity and a talent shortage? You're not alone! A new Accounting Today article by Elizabeth Beastrom, President of Tax & Accounting Professionals at Thomson Reuters, discusses how AI might be the solution.
Thomson Reuters’ Post
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The use of AI is becoming a widely discussed topic, especially in the accounting world. The questions is... what tasks do we leave for AI and what do we leave for ourselves? #Abacus 🤖❔ #insurance #accounting #accountant #indemnity #AI #technology #finance #tech
“The sands are shifting. Leadership in this new world means embracing technology or risking being left behind. But it should always be complemented by critical thinking and fact-checking.” Ahead of her panel discussion at #TaxSummit23, Victoria Lanyon, Senior Associate at King & Wood Mallesons discusses what it takes to lead in tax, accounting and law in the age of artificial intelligence (AI) in this article: https://bit.ly/43WPJZB. You can see her in action at the Leadership in the New World panel discussion on day one of The Tax Summit 2023, along with Andy Hung, Director, Professional Firms and International, CCH Integrator by Wolters Kluwer and Rachael McLean FIPA FFA, Consulting and Training Executive at Wolters Kluwer. See you at the Summit! https://bit.ly/44UPXS3 #TheTaxInstitue #TTI #tax #events #TheTaxSummit
Tax, accounting professionals must adapt to rapid shifts in AI
cfotech.com.au
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Unlock your firm's full potential with AI-powered solutions that streamline tax compliance processes and empower your staff. Embrace the future of accounting and elevate your tax workflow with the transformative power of AI. Explore three ways AI can elevate your tax workflow and revolutionize your accounting practice. #AIforAccounting #TaxWorkflowAutomation #FutureofAccounting
Three ways AI can elevate your tax workflow
tax.thomsonreuters.com
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.@BillSheridan: 213. Tech's Impact on Tax, with Andrew Hatfield: A decade ago, there were predictions that certain accounting jobs would be replaced by automation. Now, in the age of AI, we're still here and thriving. Today's conversation focuses on how we can collaborate with technology to enhance our work and deliver greater value to clients. To delve into this topic, I spoke with Andrew Hatfield, Co-Founder and Chief Growth Officer of SafeSend, a long-time partner of MACPA. He and his team have released a paper discussing the role of AI, the importance of strengthening tech stacks in accounting firms, the shift from e-sign to e-file, the benefits of integrations and APIs, and the concept of a "single pane of glass"—a unified management console displaying data from multiple sources. Andrew and I discussed how client expectations have evolved, and how the technologies and predictions in SafeSend's paper can improve relationships between firms and their clients, as well as the CPA's role in this transformation. Resources: * SafeSend paper, "Top 7 Predictions for Tax Automation in 2024" by Andrew Hatfield & team * SafeSend * Andrew Hatfield LinkedIn Profile * Oxford Martin School article, "The Future of Employment: How susceptible are jobs to computerisation?" by Carl Benedikt Frey & Michael Osborne * Thomson Reuters report, "2024 generative AI in professional services" * CPA Practice Advisor article, "Most Tax Pros, Corporate and Public, Believe AI Should Be in Their Toolbox" by Isaac M. O'Bannon http://dlvr.it/T85f5t Future-Proof #tax #accounting #CPA
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Tax and finance professionals are taking a closer look at how technologies like AI can help them navigate a complex tax environment. However, “I think the nature of what the AI is solving for would be very important," Josh Schauer, SVP of finance for insightsoftware told CFO Dive. "If they’re solving for tax strategies and ways to help you avoid cash payments and things like that, that would be one thing...it’s AI that sort of just helps establish the same numbers that you’re going to get to, but in a quicker time period, that would be a bit of a trade off," he said in an interview. #artificialintelligence #taxes #taxcompliance https://lnkd.in/ejuwyD5h
CFOs mull future benefits for AI in tax: insightsoftware
cfodive.com
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If you're not registered for Wednesday's free CPE there's still time! Power your tax season with AI after we talk about the real ways to deploy this technology in your tax practice. Epiphany Consulting Group, Inc. Insightful Accountant #tax #ai #taxseason #cpe #learning #education #acccounting
An AI Powered Tax Season
https://taxpracticenews.com
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My Article in Tax Guru please like and comment on my article Thanks https://lnkd.in/dbfCFvEj
Rise of AI Takeovers: Impact on Accounting Professionals
taxguru.in
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Great to see Black Ore's entry into the #accountingtech ecosystem at such an auspicious moment, with firms actively evaluating #AI tech that promotes growth, scale, client satisfaction, addresses staffing challenges, and meaningfully moves the needle toward enhanced #advisoryservices capacity. Looking forward to the evolution of #TAAS!
2023 was rife with uncertainty on how AI would impact CPAs and Tax Professionals. In 2024 the answer is clear - it will give them superpowers. Black Ore defines the advanced AI applications driving this transformation as Tax Automation and Advisory Solutions (TAAS). If the 2010s were defined by Automation CAS and the impact it had on transforming the accounting businesses at firms, the 2020s will be defined by AI TAAS and the renaissance it will drive for the tax practices of firms that capitalize on this tectonic shift. We share more of our insights, predictions and tangible suggestions on how firms can capitalize on AI to accelerate growth in our blog post, featured in Accounting Today Huge thank you Chris Gaetano for the feature and the team at AICPA and CPA.com (Erik Asgeirsson, Michael Cerami, Kacee Johnson) for hosting the first ever AI Symposium on how new technology will impact the accounting and finance profession Finally, special shout out to the industry leaders (Randy Johnston, Brian Austin) driving a lot of insights on AI, CAS and Firm Transformation #Accounting #Tax #TaxCompliance #TaxAdvisory #CPA #CPAFirms #AI #ArtificialIntelligence #TAAS
Introducing tax automation and advisory solutions in your firm
accountingtoday.com
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Financial advisors are turning to #AI tools in search of ways to streamline #tax preparation. Bernstein's National Director of Tax Research, Robert Dietz, CFA, shares his thoughts in this article from Financial Planning: https://bit.ly/4acL4Gc
Today's AI tax tools -- and their vast potential to reshape the industry
financial-planning.com
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.@BillSheridan: 213. Tech's Impact on Tax, with Andrew Hatfield: A decade ago, there were predictions that certain accounting jobs would be replaced by automation. Now, in the age of AI, we're still here and thriving. Today's conversation focuses on how we can collaborate with technology to enhance our work and deliver greater value to clients. To delve into this topic, I spoke with Andrew Hatfield, Co-Founder and Chief Growth Officer of SafeSend, a long-time partner of MACPA. He and his team have released a paper discussing the role of AI, the importance of strengthening tech stacks in accounting firms, the shift from e-sign to e-file, the benefits of integrations and APIs, and the concept of a "single pane of glass"—a unified management console displaying data from multiple sources. Andrew and I discussed how client expectations have evolved, and how the technologies and predictions in SafeSend's paper can improve relationships between firms and their clients, as well as the CPA's role in this transformation. Resources: * SafeSend paper, "Top 7 Predictions for Tax Automation in 2024" by Andrew Hatfield & team * SafeSend * Andrew Hatfield LinkedIn Profile * Oxford Martin School article, "The Future of Employment: How susceptible are jobs to computerisation?" by Carl Benedikt Frey & Michael Osborne * Thomson Reuters report, "2024 generative AI in professional services" * CPA Practice Advisor article, "Most Tax Pros, Corporate and Public, Believe AI Should Be in Their Toolbox" by Isaac M. O'Bannon http://dlvr.it/T85f5Y Future-Proof #tax #accounting #CPA
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