641 Two HUGE AI Releases for Accounting Firms [A new generation of shockingly good AI models]
Accounting Firm Coach: Office HoursShow Notes
🚀 Get smarter faster by learning with other firm owners: https://www.rlz.io/ 📩 Want a simple way to keep up with accounting firm and AI? I break it down every week in my newsletter: https://www.jasononfirms.com/newsletter
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In this episode, I break down the biggest AI developments of the last two weeks and what they could mean for accounting firms, especially the shift toward AI that can actually operate a computer instead of simply chatting with you. I explain why computer-use AI could be especially powerful in accounting, where firms are constantly stitching together disconnected software, and why security and due diligence become even more important as AI agents gain more autonomy. I also go through 🔥 Roast My Tech Stack and answer to some of your questions in 📞 Accountant Support.
💰 Today's Sponsors Verito: https://verito.com/jason?utm_campaign=42071442-Jason&utm_source=Podcast&utm_medium=Podcast&utm_content=show-notes Soraban: https://hubs.ly/Q04cNLF80 MakersHub: https://makershub.com/get-started?utm_source=podcast&utm_medium=partner&utm_campaign=jasonstaats Canopy: Go to https://www.getcanopy.com/jason and schedule a demo to see for yourself, and Canopy will send you a $75 gift card after your demo Financial Cents: sign up at https://hubs.li/Q03mLr_x0 and use code Jason10 to receive 10% off the Team or Scale annual plan for firms with 2+ users. Karbon: https://karbonhq.com/?utm_source=podcast&utm_campaign=jason-staats
// Chapters: 00:00 - The AGI Era 01:20 - Artificial General Intelligence 02:30 - Fable 5.1 04:45 - AI Benchmarks 06:10 - GPT6 Astra 07:55 - AI That Uses Your Computer 09:25 - Automating Accounting Work 10:40 - AI Inside Your Apps 12:15 - What Do I Do With My Hands? 13:05 - ChatGPT vs. Claude 13:49 - AI Security Risks 15:59 - Trusting AI Agents 18:00 - Sandboxing AI 19:45 - The Four-Monitor Accountant 21:15 - Talking to Your Computer 22:25 - Learning AI 23:25 - AI Due Diligence 25:35 - 🔥 Roast My Tech Stack 26:25 - The 3.5-Person Firm 27:54 - Practice Management 28:44 - Month-End Close Automation 32:24 - Drake Tax Hosting 34:09 - Filed vs. GruntWorx 34:49 - GoHighLevel 35:24 - Document Management 36:09 - Digits or Zero? 36:29 - Upfront Pricing 38:03 - Stop Building Software 38:38 - AI and the Tech Stack 40:44 - Submit Your Tech Stack 40:59 - 📞 Accountant Support 41:19 - Acquisition Fatigue 43:14 - When to Acquire Firms 43:59 - Starting With Small Acquisitions 44:04 - Leaving Intuit 45:19 - The Case for AI 46:04 - Moving Beyond QuickBooks 48:59 - Raising Your Prices 49:44 - Migrating Existing Clients 51:19 - Outsourcing Bookkeeping 52:59 - Offshore Bookkeeping 53:58 - AI Bookkeeping 54:43 - Business Valuation Credentials 55:38 - Building a Valuation Practice 56:38 - Is an Accounting Degree Still Worth It? 57:28 - Accounting Beyond Bookkeeping 58:18 - AI Watermarks 59:08 - Talking to Clients About AI 01:00:14 - Closing Thoughts
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More from Accounting Firm Coach: Office Hours
🚀 Get smarter faster by learning with other firm owners: https://www.rlz.io/ 📩 Want a simple way to keep up with accounting firms and AI? I break it down every week in my newsletter: https://www.jasononfirms.com/newsletter 📌 Check out the cool stuff our sponsors are doing here: https://accountingfirmcoach.com/sponsors/ Welcome to Accounting Firm Coach Office Hours presented by Canopy. I’m Jason Staats. Ready to get 1% better at running an accounting firm? In this episode, I break down the three biggest priorities accounting firm owners need to tackle before year-end, including tech transitions, hiring, client renewals, and getting ahead of January production. Then, in 🏹 Firm Hunters, we look at a $1.4 million accounting firm with an unbelievable 87% of revenue going to the owner. I also introduce a new segment called 👿 Mean Bag to tackle whether AI is about to get dramatically more expensive, rethink the all-in-one versus best-of-breed software debate in 🤓 Nerd Corner, and answer 📬 Mailbag questions about accounting ledgers, getting clients to sign proposals, AI agents, and keeping client data secure. // Chapters: 01:32 - Do This By November 1 11:06 - Do This By December 1 20:44 - Do This By January 1 22:49 - This $1.4M/yr Firm Is Running An 87% Margin!? 28:38 - Is AI About To Get Expensive? 34:03 - Is All-in-One A Mirage? 42:38 - Double vs New AI Ledgers 45:38 - Simplify That Proposal! 47:28 - Create An AI Agent User? 49:12 - Claude MAX Plan Made Secure? 52:07 - Lester Returns 📞 Leave me a voicemail at +1 (516) 980-4968! 📧 Email me! [email protected] 📌 Here’s that $1.4M/yr firm https://privatepracticetransitions.com/business-listing/1265-established-cas-practice-with-strong-growth/ 💰 Today's Sponsors Canopy: https://www.getcanopy.com/jason Gusto: https://gusto.com/ Kick: https://www.kick.co/ Stanford Tax: https://stanfordtax.com/ Realize: https://www.rlz.io/ Cloud Accountant Staffing: https://www.cloudaccountantstaffing.com/ 🗣️ Continue the discussion on social! X https://x.com/jasononfirms LinkedIn https://www.linkedin.com/in/jstaats/ YouTube https://www.youtube.com/@jasoncpa
🚀 Get smarter faster by learning with other firm owners: https://www.rlz.io/ 📩 Want a simple way to keep up with accounting firms and AI? I break it down every week in my newsletter: https://www.jasononfirms.com/newsletter 📌 Check out the cool stuff our sponsors are doing here: https://accountingfirmcoach.com/sponsors/ Welcome to Accounting Firm Coach Office Hours presented by Canopy. I’m Jason Staats. Ready to get 1% better at running an accounting firm? In this episode, I explore how to build a niche accounting firm by tapping into industry-specific communities and partnerships. In 🤓 Nerd Corner, I cover eight major tech updates from Canopy, Financial Cents, Digits, Karbon, Gusto, Double, Kik, and RightTool. Then, in the 📬 Mailbag, I tackle delegating more work to admins, construction accounting software, Microsoft Copilot, tax workflow tools, lead tracking, and building a remote accounting firm. // Chapters: 00:00 - These Industries Need YOU 15:14 - 8 Tech Updates 29:19 - Push This Work to Admins 33:44 - Construction Accounting Software? 36:09 - Microsoft AI Use-Cases 37:59 - Don’t Buy This Tax Workflow Software 42:54 - Lead Tracking App 44:53 - Transitioning A Firm To Remote Work 51:31 - We Love Them 📞 Leave me a voicemail at +1 (516) 980-4968! 📧 Email me! [email protected] 💰 Today's Sponsors Canopy: https://www.getcanopy.com/jason TaxBandits: https://www.taxbandits.com/ Stanford Tax: https://stanfordtax.com/ MakersHub: https://makershub.com/ Verito: https://verito.com/jason?utm_campaign=42071442-Jason&utm_source=Podcast&utm_medium=Podcast&utm_content=show-notes Realize: https://www.rlz.io/ 🗣️ Continue the discussion on social! X https://x.com/jasononfirms LinkedIn https://www.linkedin.com/in/jstaats/ YouTube https://www.youtube.com/@jasoncpa
🚀 Get smarter faster by learning with other firm owners: https://www.rlz.io/ 📩 Want a simple way to keep up with accounting firms and AI? I break it down every week in my newsletter: https://www.jasononfirms.com/newsletter 📌 Check out the cool stuff our sponsors are doing here: https://accountingfirmcoach.com/sponsors/ Welcome to Accounting Firm Coach Office Hours presented by Canopy. I’m Jason Staats. Ready to get 1% better at running an accounting firm? In this episode, I break down two surprisingly profitable accounting firms for sale, including one generating over $1.6 million with just two people, and explain why outsourcing and offshoring can create very different business models. In 💾 You Need This Tech, I share a $400 artificial skylight designed to bring natural-looking light into your office. Then, in 🤓 Nerd Corner, I challenge some of the guidance around AI and taxpayer data presented at an IRS National Tax Forum session. Finally, I answer 📬 Mailbag questions about Double as a practice management tool, seller financing when buying a firm, AI for nonprofit accounting, software security, Grok, and why heavily funded tax AI startups aren’t on my app recommendations list. 📌 The skylight https://www.amazon.com/PHILIPS-Skylight-Ceiling-NatureConnect-inches/dp/B0HDTPRNSD?sr=8-1 💲 The tax firm that’s for sale https://privatepracticetransitions.com/business-listing/1262-established-virtual-tax-practice/ 🧾 And the CAS firm that sold https://poegroupadvisors.com/practice/cp2024/ // Chapters: 00:00 - A 2-Person $1.6M Firm 11:32 - A 60% Margin CAS Firm 21:52 - You Need This Tech 26:05 - Bad AI Advice From The IRS 36:56 - Double As A PM? 40:04 - Up-Front Cash? 44:16 - AI For Fund Accounting 47:35 - How To Know if an App Is Secure? 49:21 - Firms Using Grok!? 52:53 - BlackOre Basis and Accrual 📞 Leave me a voicemail at +1 (516) 980-4968! 📧 Email me! [email protected] 💰 Today's Sponsors Canopy: https://www.getcanopy.com/jason Gusto: https://gusto.com/ Kick: https://www.kick.co/ Stanford Tax: https://stanfordtax.com/ MakersHub: https://makershub.com/ Verito: https://verito.com/jason?utm_campaign=42071442-Jason&utm_source=Podcast&utm_medium=Podcast&utm_content=show-notes 🗣️ Continue the discussion on social! X https://x.com/jasononfirms LinkedIn https://www.linkedin.com/in/jstaats/ YouTube https://www.youtube.com/@jasoncpa
🚀 Get smarter faster by learning with other firm owners: https://www.rlz.io/ 📩 Want a simple way to keep up with accounting firms and AI? I break it down every week in my newsletter: https://www.jasononfirms.com/newsletter 📌 Check out the cool stuff our sponsors are doing here: https://accountingfirmcoach.com/sponsors/ Welcome to Accounting Firm Coach Office Hours presented by Canopy. I’m Jason Staats. Ready to get 1% better at running an accounting firm? In this episode, I break down a new AI accounting study suggesting that leading models can outperform human accountants, and explain what that actually means for our firms. I share why public booking links are a bad idea, explore Claude’s faster AI models and new ChatGPT features, and explain why AI won’t fix bad business decisions. Then I highlight accountants available for hire and answer questions about selling a firm to private equity, why I dropped Xero from my recommendations, and whether standalone receipt management software still makes sense. 📌 Here’s that AI vs accountants study https://www.mercor.com/blog/human-baselines-for-benchmarks-ai-now-outperforms-junior-accountants/ // Chapters: 00:00 - The End Is Near 13:45 - Bad Booking Links 17:35 - This AI Model is FAST 24:20 - Hormozi Pops The Balloon 26:20 - ChatGPT Updates 31:45 - Accountants For Hire 34:25 - Sell His Firm to PE? 42:45 - I Dropped Xero 47:55 - New Receipt Tech? 📞 Leave me a voicemail at +1 (516) 980-4968! 📧 Email me! [email protected] 💰 Today's Sponsors Canopy: https://www.getcanopy.com/jason Gusto: https://gusto.com/ Kick: https://www.kick.co/ Stanford Tax: https://stanfordtax.com/ MakersHub: https://makershub.com/ Verito: https://verito.com/jason?utm_campaign=42071442-Jason&utm_source=Podcast&utm_medium=Podcast&utm_content=show-notes 🗣️ Continue the discussion on social! X https://x.com/jasononfirms LinkedIn https://www.linkedin.com/in/jstaats/ YouTube https://www.youtube.com/@jasoncpa
🚀 Get smarter faster by learning with other firm owners: https://www.rlz.io/ 📩 Want a simple way to keep up with accounting firms and AI? I break it down every week in my newsletter: https://www.jasononfirms.com/newsletter 📌 Check out the cool stuff our sponsors are doing here: https://accountingfirmcoach.com/sponsors/ Welcome to Accounting Firm Coach Office Hours presented by Canopy. I’m Jason Staats. Ready to get 1% better at running an accounting firm? In this episode, I break down whether you can build a bookkeeping firm without QuickBooks or Xero, and why specializing around a painful industry-specific accounting system may be a much bigger opportunity than simply choosing a newer ledger. I also look at Meta’s upcoming VR glasses, debate separating technical production from client relationship management, dissect a supposedly self-sufficient $1.2 million accounting firm for sale, empty out September’s Swear Jar, and answer Mailbag questions about sponsorships, advisory positioning, buying versus building a firm, AI-powered email management, and tax research tools. 📌 Here’s that firm we talked about https://poegroupadvisors.com/practice/va2036/ // Chapters: 01:54 - Building a Bookkeeping Firm Without QuickBooks or Xero 11:20 - The Industry Ledger Opportunity 17:05 - Meta VR Glasses: Goodbye, Monitors? 23:25 - Technical Hire or Relationship Manager? 26:49 - Planning for When Someone Leaves 31:58 - A CPA Firm Run in 30 Owner Hours a Year 33:46 - What You're Really Buying 38:05 - The September Swear Jar 42:41 - How Sponsors Work at Accounting Firm Coach 45:01 - What's Wrong With the Word "Advisor" 48:07 - Buy a Firm or Grow Organically? 50:55 - Admin vs AI for Email Management 57:00 - CoCounsel vs. Claude, ChatGPT or Blue J 📞 Leave me a voicemail at +1 (516) 980-4968! 📧 Email me! [email protected] 💰 Today's Sponsors Canopy: https://www.getcanopy.com/jason Gusto: https://gusto.com/ Kick: https://www.kick.co/ Stanford Tax: https://stanfordtax.com/ MakersHub: https://makershub.com/ Verito: https://verito.com/jason?utm_campaign=42071442-Jason&utm_source=Podcast&utm_medium=Podcast&utm_content=show-notes 🗣️ Continue the discussion on social! X https://x.com/jasononfirms LinkedIn https://www.linkedin.com/in/jstaats/ YouTube https://www.youtube.com/@jasoncpa