Why VC Is a Bigger Threat Than AI

How big money could change everything.

By Seth Fineberg
At Large

Here is some truth, at least that I believe, accountants need to know: Accountants in practice today, particularly firm owners, should be more afraid of venture capital entering the profession than AI or any like form of automation. A bold statement, I know but stay with me and see if you agree.

MORE SETH FINEBERG: What Does Taking Control of Your Firm Mean? | Accountants Need Each Other More Than Ever | Marchternity: Just Say ‘No’ |

Some Thoughts on In-Person Events | So You Think You Know Accountants? | What Bogs Down Accountants

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At the core of this viewpoint is how I believe the two will, respectively, impact the profession at large. The major difference, to me, is that one has the potential to help the profession move forward while the other could change its dynamic for the worse.

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What Does Taking Control of Your Firm Mean?

It starts with setting the right priorities. 

“Your business does not have to control your life. When you choose control and proactivity and the way you serve your clients, you start to support your life.”
John Mitchell, Creative Director, Rootworks

By Seth Fineberg
At Large

In a Q&A about what being a ‘modern’ firm means during ADP’s recent digital Accountant Summit, John Mitchell let loose this quote about control in your firm’s life. So what does that really mean?

MORE FINEBERG: What Bogs Down Accountants | Your Classic Business Model Won’t Allow Growth

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Certainly, accountants who work at or run small firms (which, as we know, encompass the vast majority of the public accounting profession) would like to feel like they have more of a say in what goes on in their professional lives versus it happening “to” them. But few are involved in any initiatives to do just that.

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Accountants Need Each Other More Than Ever

Don’t ditch live events. We need human connection.

By Seth Fineberg

At Large

“We didn’t realize how hard accountants party, and we had a difficult time keeping up. We’re also still recovering from the ‘socializing’ and contemplating having a recovery section at our next booth.”

MORE FINEBERG: What Bogs Down Accountants | Your Classic Business Model Won’t Allow Growth

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Certainly, event creators need to consider content first and foremost as a draw. You need a “why” and a practical purpose.

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Marchternity: Just Say ‘No’

Whether Marchternity continues depends entirely upon you.

More on Marchternity:
The Solution Is Community, by Liz Farr

By Seth Fineberg
At Large

After nearly three years of what many tax pros consider one of the longest tax seasons on record –- a.k.a. ‘Marchternity’ –- one would think this season would be different.

MORE FINEBERG: What Bogs Down Accountants | Your Classic Business Model Won’t Allow Growth

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To be sure, plenty of tax practitioners in late 2022 did indeed call the end of Marchternity and look forward to some sense of normalcy, as much of what caused the extended tax season in the first place appears to have subsided. So, do tax pros expect this season to be different?

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Some Thoughts on In-Person Events

Confident businesswoman handing man a business card in networking sessionBy Seth Fineberg

“We didn’t realize how hard accountants party and we had a difficult time keeping up. We’re also still recovering from the ‘socializing’ and contemplating having a recovery section at our next booth.”

MORE FROM FINEBERG: So You Think You Know Accountants? | What Bogs Down Accountants | Your Classic Business Model Won’t Allow Growth
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This was just one of the many quotes from vendors who attended the QuickBooks Connect event in Las Vegas for the first time. It was not surprising to me; I’ve been attending QBC and other accounting events for over 20 years. But with live accounting events only really just “returning” this year, the idea of socializing with accountants took more of a spotlight.
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