Who Gets No Tax on Tips, Why Firms Struggle With Tech, Xero Updates

Sep 10, 2025

Is AI really changing accounting, or just adding shiny distractions? The hosts dive into Xero’s latest features and explore the intriguing implications of a tax exemption for tips. Listen as they discuss the IRS's staffing challenges and what it means for professionals. They also investigate the limitations of AI in automating tasks and offer smart strategies to leverage technology without losing control. Wrap it all up with insights into the future of AI and its potential impact on the workforce.

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ADVICE

Target Clients For No‑Tax Tips Planning

Identify clients who qualify under the leaked "no tax on tips" occupations and offer targeted tax planning services.
Focus on high-earning tipped workers (e.g., casino staff, entertainers, creators) for the biggest client impact.

INSIGHT

IRS Cuts Leave Modernization In Limbo

The IRS slashed staff and now must rehire, leaving modernization stalled and capacity fragile.
High retirement eligibility plus cuts mean ongoing IRS delays and worse taxpayer service.

ADVICE

Ask Why—Not Just What For Metrics

Don't rely on embedded chat agents to answer why financial metrics changed; ask follow-up causal questions.
Combine accounting outputs with operational and supplier data to explain margin movements.

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