Trump Tax Plan Could Spell Doom For Tax Preparation Firms
Last week the Trump Administration released a high-level plan for significant changes to the US Tax Code. Ones, which if put into effect, could decimate the tax preparation industry.   Key points of the plan were outlined to be: Reducing the marginal tax brackets from seven to threee Doubling the standard deduction for each filing… (0 comment)

Two-Thirds Of Practitioners Report Revenue Up In 2017 Tax Season!
Two-thirds of Practice Builder Publishing members responding to the annual growth survey report that annual revenues for tax preparation services are up, with over half responding that revenue is up over ten percent! This compares favorably to recent industry reports showing only three-fifths of practitioners reporting increased revenues, with the majority of those practitioners only… (0 comment)

Robots Are Coming To The Accounting Industry — Here’s How To Prepare
There’s been quite a lot of speculation recently that the growing sophistication and pervasiveness of artificial intelligence will decimate the ranks of the professional services industry, with accounting particularly endangered. Indeed, a 2013 Oxford University study listed accountants and auditors as among the most threatened by computers, and a 2016 McKinsey report predicted that 86… (0 comment)

Amazon turns Alexa into a style assistant with its new Echo Look device Inc. has added to its Echo family. The e-retailer today introduced the Echo Look, a small tower-like, voice-activated camera that Amazon bills as a style assistant. “Using just your voice, easily take full-length photos and short videos with a hands-free camera that includes built-in LED lighting, depth-sensing camera, and computer vision-based background blur,” an… (0 comment)

The Future of Consulting
By Ismail Amla Disruption. As consultants, we love to talk about how radical technology shifts are disrupting everything—the markets we work in, the clients we work with and the world we live in. But what about consulting itself? Surely our industry is facing massive disruption with the introduction of technology platforms, like Hourlynerd and Experfy,… (0 comment)

Automated Tax Resolution And Collection Service Launched
There’s a new game in town, and it’s the first foray of automation into the IRS Tax Resolution field, sort of. Settleitsoft, Inc., of Fort Lauderdale, Florida, has rolled out what they are call an innovative, intuitive debt negotiation software platform, systematically designed to help alleviate the debtors’ universal problem of harassing phone calls and… (0 comment)

What Do Blockchain And Building 8 Have In Common?
They both have the potential to totally disrupt the accounting industry, either by completely destroying it, or by creating entirely new types of work for professionals. One thing for sure, these two each have such a potential for disruption that the combination of the technology being developed with these two resources can’t be foreseen. Blockchain’s… (0 comment)