TTPP91: Is Billing by Time Spent Worse Than Pricing by Value for Tax Services? with Reza Hooda
01/01/24 • 69 min
Show notes: thetaxprofessionalspodcast.com/TTPP91
Subscribe: thetaxprofessionalspodcast.com/subscribe
Take control of your career progression free course: https://documents.thetaxprofessionalspodcast.com/freecourse
You’ll Learn
- A bit about Reza and his fist business idea
- (15:30) What are the four pillars of running a successful accountancy and/or tax firm?
- (19:15) The ‘pricing’ pillar – how to price based on value and not time spent, increasing profitability with less effort
- (42:00) Giving different pricing options with tax/accountancy work
- (57:00) A bit about the ‘positioning’ pillar
Resources
Free book link (The Four Pillars): Https://go.rezahooda.com/order-348362211681564311623
Podcast (The Profitable Accountant Podcast): https://www.rezahooda.com/podcasts/the-profitable-accountant-podcast
Show notes: thetaxprofessionalspodcast.com/TTPP91
Subscribe: thetaxprofessionalspodcast.com/subscribe
Take control of your career progression free course: https://documents.thetaxprofessionalspodcast.com/freecourse
You’ll Learn
- A bit about Reza and his fist business idea
- (15:30) What are the four pillars of running a successful accountancy and/or tax firm?
- (19:15) The ‘pricing’ pillar – how to price based on value and not time spent, increasing profitability with less effort
- (42:00) Giving different pricing options with tax/accountancy work
- (57:00) A bit about the ‘positioning’ pillar
Resources
Free book link (The Four Pillars): Https://go.rezahooda.com/order-348362211681564311623
Podcast (The Profitable Accountant Podcast): https://www.rezahooda.com/podcasts/the-profitable-accountant-podcast
Previous Episode
TTPP90: Improve Your Tax Research and Save Hours of Time with AI with Nick Stobbs from Tax on Demand
Show notes: thetaxprofessionalspodcast.com/TTPP90
Tax Research Masterclass (link to business case in the full details)
Subscribe: thetaxprofessionalspodcast.com/subscribe
Take control of your career progression free course: https://documents.thetaxprofessionalspodcast.com/freecourse
Rough timings
- About Nick and his involvement in the tax world
- (9:15) Information about Co-pilot – the ChatGBT equivalent but for HMRC manuals – including what it is and how it works
- (12:15) What is a ‘large language model’ and what is ‘RAG’ (retrieval augmented generation)?
- (19:00) How does Co-pilot benefit tax advisors?
- (23:00) Is AI good enough to find the answer to complex tax queries?
- (25:00) A bit about use cases of Co-pilot and tech in tax
- (29:15) Could AI dilute tax specialisms or reduce the amount of jobs?
- (38:00) How Co-pilot is different to the online digital resources like Croner’s Navigate
Resources
Tax Research Masterclass (link to business case in the full details)
Next Episode
TTPP92: 3 Years into Starting a Tax Firm to Gain More Freedom with Omar Aswat
Show notes: thetaxprofessionalspodcast.com/TTPP92
Subscribe: thetaxprofessionalspodcast.com/subscribe
Take control of your career progression free course: https://documents.thetaxprofessionalspodcast.com/freecourse
You’ll Learn
- A bit about Omar Aswat CTA and his journey in tax so far
- (11:30) Challenges Omar’s had from having his own firm
- (16:00) Big pros from having his own tax firm and how Omar went from being employed to running his own firm
- (26:00) The first big advisory projects that Omar won
- (35:00) How Omar was able to develop his advisory skills
- (40:30) Spotting opportunities to help save tax or support clients to benefit them and win you work
Resources
Take control of your career progression free course: https://documents.thetaxprofessionalspodcast.com/freecourse
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