The Friday Lowdown ⬇️

If you're new around here, every day I share the 4-5 best accounting insights I saw in the past 24 hours.

I scroll. so you don't have to.

💎 WTF of the Day

Accounting ranked as one of the world’s fastest declining jobs

The World Economic Forum says accounting will shrink significantly by 2030. Automation is killing entry level roles, outsourcing is sending work overseas, and fewer students are entering the field. It’s no surprise accounting just ranked as one of the world’s fastest declining jobs.

Firms that embrace tech and shift to high value services like strategy and advisory might thrive. The rest risk being left behind in a rapidly changing industry.

Source: Accountants Daily

💎 What’s poppin in accounting

IRS Free File Is Live Starting Today

The long awaited IRS Free File is live starting today! Taxpayers earning $73K or less can now file federal returns for free using easy-to-use software provided through private partners (like TurboTax). It’s a big step in making tax season less stressful.

If you’re earning more than $73K, don’t worry, you can still use the IRS’s Fillable Forms to file electronically for free. These are basic digital forms without guidance or calculations, perfect for confident DIY filers with simple returns.

More details: IRS Free File

💎 What Google Knows About You

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 📊 Weekly Trend Chart

OpenAI’s $100B Moonshot

OpenAI aims to hit $100B in annual revenue by 2029, but they're currently burning through cash, losing about $5 billion this year. Despite charging $200/month for ChatGPT Pro, they're still operating at a loss.

Their plan? Scale up AI-powered tools and services across various sectors to turn these losses into massive gains. However, achieving a 90% annual growth rate over the next five years is a monumental challenge

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