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Summary: IRS Guidance on Reporting and Taxation of Cryptocurrency and NFTs
Annual Federal Tax Update This article is the first part in a series: A curated list of updates to prepare you for tax season 2023 As digital assets continue to gain prominence, the IRS has provided guidance to clarify the reporting and requirements for taxation of...
Quality in AI Accounting: How Accuracy is Programmed
Artificial Intelligence (AI) has revolutionized various industries, and accounting is no exception. AI in accounting streamlines and enhances financial processes, offering a level of accuracy and efficiency previously unimaginable. Developers can train AI systems and...
Stay Ahead of the Year-End Frenzy with Our Annual Planning Checklist for CPA Firms
As the year quickly comes to a close, wrapping up end-of-year tasks and getting ready for 2024 takes more than just running numbers — it requires a strategic plan. So we built our Annual Planning Checklist for CPA Firms — your roadmap to a smoother year-end...
IRS Announces Tax Inflation Adjustments for 2024 Tax Year
The Internal Revenue Service (IRS) has announced the annual inflation adjustments for over 60 tax provisions for the tax year 2024. Notable changes include the reinstatement of the Hazardous Substance Superfund financing rate for crude oil and petroleum products...
ChatGPT for CPAs: What You Need to Know
In a recent podcast interview with the Journal of Accountancy, Mfon Akpan and Scott Dell, both educators and experts in the field of accounting, delved into the significance of CPAs (Certified Public Accountants) and other professionals understanding generative AI,...
AI for Accountants: A Revolution in Tax Preparation and CPA Services
In the ever-evolving landscape of finance and taxation, accountants, tax preparers, and CPAs face a constant challenge: staying up-to-date with the latest tax codes, providing exceptional client service, and reducing the risk of errors in tax preparation. Furthermore,...
Survey: AI Adoption and Its Impact on Employment
Lately, we've been hearing a lot about AI and robots potentially replacing humans at work. While most of the discussion revolves around how AI affects employment, there hasn't been much research. Creating and using these technologies can affect the quality of jobs,...
IRS Announcement: New ERC Claim Withdrawal Option Available
The IRS has introduced a special withdrawal process to protect small businesses and organizations from scams related to Employee Retention Credit (ERC) claims. This new option allows certain employers to withdraw their ERC claims if they haven't received a refund yet...
What is the Current State of AI Accounting Software and What Will it Look Like in 5 Years?
Artificial Intelligence (AI) has been transforming industries across the board, and accounting is no exception. The integration of AI into accounting processes is reshaping the way financial professionals manage data, make decisions, and ensure compliance. The current...
Retain Tax Clients and Earn More Business with HIVE Tax AI
The world of accounting is evolving at an unprecedented pace, with complex tax codes, regulatory changes, growing client expectations, and accounting professionals leaving the industry in droves. In this rapidly changing landscape, tax preparers and CPAs must adapt...
The Future of Taxation: Working with an AI Tax Advisor
In a world where technology seems to be advancing faster than we can update our smartphones, it's no surprise that even the world of finance and taxation is being touched by the digital revolution. Picture this: you sit down to do your taxes, but instead of sifting...
AI Tax Apps are Revolutionizing Tax Filing
AI tax apps operate by leveraging artificial intelligence and learning technologies to simplify the tax preparation process.
AI for CPAs: An Overview of Tools Available and What the Future Looks Like
In the ever-evolving world of accounting and taxation, the role of Certified Public Accountants (CPAs) is undergoing a transformation. Thanks to advancements in artificial intelligence (AI), accounting professionals now have access to powerful AI for CPA tools that...
Deloitte Report: Novel and Exponential Technologies in Finance
Excellent new report released by Deloitte titled "Novel and exponential technologies in Finance" about the future of finance and accounting covers AI tools:...
How AI Accounting Will Change Taxes and Financial Planning Forever
Artificial Intelligence (AI) has become a driving force in various industries, reshaping the way we work and live. In the world of finance and accounting, AI is ushering in a new era, transforming the landscape for both Certified Public Accountants (CPAs) and the...
Time Article: How AI Will Reshape the World
This great article from Time covers a lot of bases. It highlights AI's capacity to enhance healthcare, energy efficiency, and autonomous vehicles, among other sectors, emphasizing its growing importance in our daily lives. The article also touches on the challenges...
Intuit Launches AI Assistant for Quickbooks
AI is rapidly being integrated into common financial tools. Intuit just announced it's new AI assistant for Quickbooks that is going to change the way you use their financial tools. https://youtu.be/19QXJqurhBg Learn more:...
Unlocking Efficiency and Accuracy: The Benefits of HIVE AI Tax Software Assistant
HIVE AI Tax Software offers extreme efficiency, cost savings, increased customer offerings, scalability, and other benefits to CPAs and tax preparers with three products: a client-facing AI Tax Assistant, an internal AI Tax Research Assistant, and a Financial Planning tool.
How an AI Tax Chatbot Can Streamline Your Tax Prep Business
Tax season can be a daunting time for tax preparers and their clients alike. The endless forms, calculations, and communication can quickly become overwhelming, leading to long hours and lots of stress — on both sides. However, in an era where technology continues to...
AI Tax Assistant Product Demo
Check out the first look of the AI Tax Assistant Product Demo that was presented at the 2023 IRS Tax Forum event in San Diego. https://youtu.be/08Np9oxJV4w
Trullion’s Market Research: Concerns, Challenges, and Opportunities for 2023
Amid the swiftly evolving economic landscape, a wealth of valuable knowledge and insights held by finance experts often goes unnoticed. The aim of this report is to establish a platform for these professionals, encompassing auditors, accountants, and consultants,...
Join us at the IRS TaxForum in San Diego
Hive is delighted to participate in the 2023 IRS Nationwide Tax Forum in San Diego. Swing by our booth for an opportunity to connect with our team and discover our range of AI-driven tax solutions, designed to ensure accurate tax filing, enhance accounting practices,...
Are You Afraid of AI Doing Your Taxes?
An interesting article appeared on Bloomberg regarding taxes and AI software. What do you think? Leave a comment below. Link to article, "Future of AI in the Tax World Prompts Both Excitement and Fear"
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