Transform Your Client Advisory Services With ChatGPT

Hello and welcome back to another thrilling day in accounting, as CPAs and AI are in the early days of a face-off.

Let’s get to it. Here’s what’s on the menu today:

📰 News: AI Gets Its CPA On: Preparing for a Future of Robot Tax Returns

🖥️ AI Tutorial of the Day: How To Price Your Outsourced CFO Services Using ChatGPT

📝 Daily ChatGPT Swipe File: How To Price Your Outsourced CFO Services ChatGPT Prompt

🗞️ News: AI Gets Its CPA On: Preparing for a Future of Robot Tax Returns

Grab your coffee, fellow number crunchers. Let's talk about the buzzword of the century: AI.

Just when we thought it couldn’t get any crazier, AI is now setting its sights on preparing tax returns.

Look, I know what you're thinking: "AI? Taxes? I barely trust my Roomba with cleaning the living room rug."

But here's the real deal: the more advanced ChatGPT-4 has been making leaps and bounds. We're talking passing the bar exam with a score in the 90th percentile and nailing 13 out of 15 AP exams. And the cherry on top? It's starting to grasp the complexities of tax calculations.

Now, does this mean you'll be replaced by a machine with a penchant for long numbers? Hold your horses.

Yes, AI is coming. It's revolutionizing industries, and accounting isn't immune. But here's the silver lining: we're not talking Terminator-level takeover (yet). It's more like a new, super-efficient assistant.

Major tax, accounting, and consulting firms are already jumping on the bandwagon. Picture this: AI tools for tax research, analysis, and planning that can analyze legislation, predict outcomes, and even quantify risk. It's like having a miniature Sherlock Holmes on your desktop, minus the pipe and deerstalker hat.

One current limitation is privacy. It doesn't have the magic key to all personal information needed for tax returns. No, your Aunt Mildred's investment in Bitcoin isn't in the public domain (yet).

But, remember, the same was true for the first calculators and computers. And now, they're our bread and butter. So, while we may not see AI handling tax returns tomorrow, the future is knocking on the door.

So, accountants, it's not about packing up and calling it a day. It's about embracing the change, adapting to the tech, and making it work for us.

Yes, AI could be a game-changer. But let's not forget: it's only as good as the person using it. So, keep your debits on the left, credits on the right, and let's prepare for a future where we ride the AI wave, not get wiped out by it.

🖥️ AI Tutorial of the Day: How To Transform Your Client Advisory Services With ChatGPT

In today’s tutorial you will learn how to leverage ChatGPT for your client advisory services.

We’ll even create a “Advisory Score” to help pick which advisory service you could introduce for your accounting or tax practice:

All with the click of a button using my latest ChatGPT prompt.

Here’ the video on how I did it step-by-step (and how you can too):

⚡️ Daily ChatGPT Swipe File: How To Transform Your Client Advisory Services With ChatGPT

Here is the direct ChatGPT link that you can literally copy/paste your own info to research, analyze and introduce Client Advisory Services using ChatGPT.

👋 See You Tomorrow

That’s it for today folks!

In the meantime, if you want live updates, join over 95,000 other accountants, tax pros and entrepreneurs who follow me across YouTube, Twitter, and LinkedIn.

🧞‍♂️ Your wish is my command

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Until next time!

Marc

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