A Strange New World With Joe Woodard

In this episode, Eric Green sits down with Joe Woodard to break down the “strange new world” reshaping tax and accounting.

They dive into how AI is transforming everything—from automating prep work to enabling firms to scale faster, leaner, and more profitably than ever before. What used to take months (and six figures) can now be built in hours, changing the game for practitioners.

But this isn’t about replacing professionals—it’s about redefining them. Eric and Joe explain why the future belongs to those who shift from compliance work to advisory and representation, and how AI can solve the industry’s staffing crisis while creating massive opportunity.

If you want to understand where the profession is heading—and how to stay ahead of it—this is a conversation you can’t afford to miss.

Join Joe and Eric at Scaling New Heights in June: https://www.woodard.com/scaling-new-heights-2026

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A Strange New World: How AI Is Transforming Tax and Accounting

The tax and accounting profession is entering what can only be described as a “strange new world”—one defined by rapid technological change, shifting workforce dynamics, and new business models. As discussed in a recent conversation with industry leader Joe Woodard, three major forces are driving this transformation: artificial intelligence, staffing challenges, and private equity investment.

At the center of it all is AI. While professionals anticipated its growth, few predicted the speed at which it would evolve. In just a year, the capabilities of AI tools have expanded dramatically, reshaping how firms operate. Tasks that once required hours—like drafting documents, preparing returns, or summarizing client data—can now be completed in minutes. But rather than replacing professionals, AI is better understood as a force multiplier.

For smaller firms especially, AI offers a solution to ongoing staffing shortages. While large firms are finding talent through global recruitment strategies, smaller practices continue to struggle. AI helps bridge that gap by automating routine work such as basic tax preparation and bookkeeping. This allows firms to scale without adding headcount, improving both efficiency and profitability.

However, automation does not eliminate the need for human expertise. In fact, it elevates it. As compliance work becomes increasingly automated, the real value shifts to advisory and representation. Clients still need strategic guidance, nuanced judgment, and advocacy—areas where human professionals remain essential. AI can assist with research and drafting, but it cannot replace the expertise required to represent a client before the IRS or provide high-level tax strategy.

This shift is also changing how firms structure their services—and how they charge for them. The traditional billable hour model becomes less effective when AI drastically reduces the time required to complete tasks. Instead, many firms are moving toward fixed fees, subscription models, or value-based pricing. The result is a more scalable and profitable business model, where revenue is no longer tied directly to hours worked.

Another major trend reshaping the profession is the rise of specialization and collaboration. Much like in healthcare, professionals are increasingly focusing on niche areas and working together in networks. This allows firms to deliver higher-quality services without needing to build every capability in-house. At the same time, technology enables professionals to collaborate more easily, often without geographic limitations.

Perhaps most striking is how accessible it has become to build a successful practice. With the right combination of AI tools, outsourcing, and strategic focus, it’s now possible for a solo practitioner to build a high-revenue firm with relatively low overhead. Tasks like marketing, client communication, and even initial document preparation can all be automated or streamlined.

Still, this transformation requires action. The biggest risk is not adopting AI—it’s ignoring it. As these tools move from early adoption to widespread use, firms that fail to adapt will quickly find themselves at a competitive disadvantage. The key is to start now: experiment with tools, rethink workflows, and develop a clear plan for integrating AI into your practice.

The bottom line? This “strange new world” is full of opportunity. For those willing to embrace change, the future of tax and accounting isn’t something to fear—it’s something to build.

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About Joe Woodard

Joe Woodard is the founder and CEO of Woodard®, a company that empowers CPAs, Enrolled Agents, professional bookkeepers, and other business advisors with education, coaching, resources, networking communities, and consulting services.

As a seasoned author, consultant, business coach, and national speaker, Joe has trained over 150,000 accounting and business professionals in practice development, technology trends, strategic consulting, and optimizing the use of accounting software. Joe is also the host of Scaling New Heights®, one of the world’s largest and most respected conferences for accountants and bookkeepers.

Each year, for the last 10 years, Accounting Today has recognized Joe as one of the Top 100 Most Influential People in Accounting.

Joe is a published author with Accounting Today, The Journal of Accountancy, Insightful Accountant, CPA Practice Advisor, and McGraw-Hill. Additionally, The Woodard Report™ reaches over 100,000 readers annually within the accounting and bookkeeping space.