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If you have a financial services firm focused on tax, accounting and advisory, and want to scale up your growth, my colleague Toan Bui @m1partners and I are hosting a virtual meet up after April 15th.
This will be geared towards accounting and tax firm owners who want to make a material shift in their firm.
We’ve grown our firm nearly 300% since 2021 and can do the same for you. As a value add, we’ll show you how to do the same for your clients. Stop working weekends and late hours. Spend more time on what you enjoy. Be your client’s trusted advisor. DM me if interested. #TaxTwitter #SMB
Dear Avis. Putting me in a minivan should never be considered an upgrade. From an SUV.
I’d rather drive a Prius.
Bill had a crappy accountant.
I just got the draft of my 2025 tax return - it says I owe $117,360 of tax. On top of what I already paid.
Oof.
But it didn't feel right to me.
I asked ChatGPT Astra to do a secondary review, ticking and tying every number to source documents. Max effort. It ran for 90 minutes.
Output - a 15 page report. It says I'm actually due a $191,173 REFUND.
I reviewed Astra's work line by line with my accountant. He agreed, the LLM is correct.
I was about to send Uncle Sam $117,360. Instead, I'm getting back $191,173.
That's a swing of $308,533 (!!!!!!)
The LLM couldn't have done my tax return from scratch - I still need my accountant. But for massively complex detail oriented work, and LLM is the best thought partner you can have.
Connect a frontier LLM to your email and file storage, then ask it to review your past tax returns. You never know what it might find. My prompt is in the next tweet.
The OG space suit worn by Neil Armstrong. Smithsonian tours never disappoint.
Did you know he tossed his backpack and shoes out the window before leaving the moon?
“Thriving…requires creating new economic offerings that directly increase the degree to which people become who they are meant to be”
- Joseph Pine Jr
The Transformation Economy
Craig Hausz, CPA retweeted
You close on a plumbing company at 9 AM. At 9:01, the seller's insurance is still the seller's.
In an asset deal, the seller's policies don't automatically move over to you. Your new company needs its own coverage in place starting at close, subject to policy terms.
What I'd pull before close, with the seller's OK:
1. Dec pages for every policy the seller has now
2. Loss runs
3. The insurance section of your SBA loan authorization
4. The right lender clauses: mortgagee on real estate, lender's loss payable on business personal property
5. Binders, checked 5 business days before close
Number 5 is the one I'd never let slide. If the binder or the lender clause is wrong at close, that's a problem on day one with your lender.
And the workers' comp question comes with it. In Texas the seller may not have carried it at all, so you're deciding that fresh too.
I'd rather sort all of this out the week before close than the week after.
Every accounting firm needs to learn this ASAP.
Zero reason to not automate initial review in 2027.
It's a brave new world. I built an agent that connects to my accounting software through an API, reads everything and tells me what doesn't match within a matter of seconds.
When you run more than one company (or even one), the problems hide in boring places. A vendor gets paid twice, or a payment gets booked to the wrong account for a year and nobody notices, because nobody has time to go through every statement line by line. An outside bookkeeper can cost $1,000+ monthly and has no context.
My AI assistant does. It goes through the bank statements, the books and the email threads (it's connected to email with an API too) and tells me where the numbers don't line up. This morning it found that a year of contractor payments had all been dumped into one account, with marketing and landscaping mixed in with staff.
It's rarely ever wrong, and it keeps learning how my business works.
I think this is where most small business owners will get real value from AI first. It's the work that used to need a full-time bookkeeper. I've now saved myself $12K per year and have a real-time agent that can answer any financial question I have about my company.
Please tell me what agents you're running that I can automate and build next.
Awful...we don't need more random games. Or, just eliminate bowl games.
Also, just go with 16 teams or 8. Random bye weeks hasn't helped the top seeds.
Craig Hausz, CPA retweeted
What every business owner should know before December 31, all in one year-end dashboard. Six numbers worth reviewing while there’s still time to plan around them.
#YearEndTaxPlanning #SmallBusinessTax #DallasCPA @CPATaxTeam
The true tax pros know the deadline isn't tomorrow...it's 5 days after they get the rejection for something missing on the return.
Ooops, had the SSN wrong, I guess I get an additional 5 days to file now. #taxtwitter
"accountants are cooked"
Yep, many will be. If they focus on data entry with no AI tools, see ya! No reason to use an accountant who's value is doing data entry and prep.
Hire a trusted advisor. A CPA is a great trusted advisor. Just make sure they are advisory focused.
Craig Hausz, CPA retweeted
Valtteri Bottas has his old Williams F1 car inside his house alongside his trophies🤩
🎥(@AverageRob)

















