Accountants: What's in store for 2025

Industry leaders share insights for the year ahead and what they hope to leave behind.

Accountants: What's in store for 2025

We asked industry experts — educators, CEOs and practicing CPAs — to share their predictions for the year ahead. What trends will define 2025? What challenges might finally fade? And what’s the one issue they hope disappears like a bad tax season?

On their radar: automation, evolving regulations and AI-driven transformation. Meanwhile, outdated processes, inflation and industry talent shortages topped their wish lists of trends to bid farewell. - Paul McCormack

The answers below have been edited for brevity and clarity.


The Experts

Dr. Rachel Byers accounting professor at Purdue Global and managing partner of Byers, Byers, and Associates P.C. She holds a Ph.D. in business from Capella University. Recognized as a "40 Under 40" by Mobile Bay Magazine and an honoree by CPA Practice Advisor.

Hector Castaneda is a Certified Public Accountant at Castaneda CPA & Associates in Washington state. He holds a bachelor's degree in business administration from Washington State University and a master's in accounting from the University of Washington.

John Frank is the Founder & CEO of Third Road Management and is responsible for the firm’s overall directional leadership in addition to serving as a Fractional CFO for multiple Third Road Management clients. He holds bachelor's degree in finance from the University of Illinois Urbana-Champaign.

Swapnil Shinde is the CEO & Co-founder of Zeni.ai - a Bookkeeping, Tax, and CFO Services Platform designed for startup founders. He holds a master's degree in computer science, computer networks & algorithms from the University of Southern California.

Adam Hamilton is the CEO and co-founder of REI Hub. His intersecting interests in real estate investing and data-driven small business operations drove him to build rental property accounting software for the average person. His particular passion is de-mystifying basic bookkeeping for investors without a financial background.


What industry shifts do you anticipate in 2025?

RB: Regulations will likely extend deadlines for filing and paying taxes on amended 2020 and 2021 returns tied to Employee Retention Credits (ERC), addressing delays in funds disbursement. Current rules require taxpayers to pay taxes on funds they haven’t received, causing challenges. The IRS’s five-year audit window adds further complexities if claims are disallowed without Protective Claims for Refund. Technology will also advance, with AI, blockchain, and cloud software increasingly transforming the industry and offering CPAs tools to enhance efficiency. Finally, I anticipate clearer regulations for cryptocurrency to reduce scams and protect taxpayers from fraud.

HC: The extension of benefits from the Tax Cuts and Jobs Act (TCJA) in 2025 will help individuals and businesses save through higher deductions and lower tax rates, boosting demand for accountants to optimize these benefits. Payroll tax breaks for small businesses are also expected to continue, providing relief on costs like tips and overtime. Accountants will play a key role in helping businesses navigate these changes. Another trend to watch is rising tariffs, which may increase costs for businesses and consumers, requiring companies to implement strategic tax planning to manage the financial impact.

JF: Artificial intelligence will increasingly automate accounting tasks, requiring financial leaders to embrace AI or risk losing their competitive edge. Remote work may see a shift toward hybrid models, with partial in-office policies aimed at fostering mentorship and workplace culture. Cybersecurity remains a critical issue, as accounting departments are prime targets for cybercriminals. Businesses must adopt advanced security measures and stay vigilant to protect sensitive financial data from evolving threats. Together, these trends highlight the need for adaptability and proactive strategies in the industry.

SS: In 2025, accounting will see three major trends: fully automated bookkeeping, real-time financial reporting replacing month-end closings, and accountants becoming strategic advisors. Automation will eliminate manual processes, while instant financials empower businesses to make faster, smarter decisions. With routine tasks automated, accountants can focus on providing meaningful insights that drive growth and innovation for their clients.

AH: AI will become more heavily integrated in accounting, cloud-based accounting will become the norm, and we will see more innovative tech-forward accounting startups hit the scene. Basically, technology is going to elevate the industry in numerous ways, some out of necessity and some for competitive, innovative purposes.


What’s one trend that will define 2025?

RB: As both an academic and a CPA, I’m excited about updates to the CPA Exam that better prepare accountants for real-world challenges. These include a stronger focus on data analytics and a new format allowing candidates to choose specialized topics, such as Tax Compliance & Planning (TCP), enabling them to tailor their exam to their career goals.

HC: I hope the benefits of the Tax Cuts and Jobs Act (TCJA) continue in 2025, with its lower corporate tax rates, higher deductions, and generous tax relief fostering growth. Maintaining these advantages would provide stability, especially for small businesses, while accountants play a key role in helping clients maximize savings and stay compliant.

JF: A well-known and discussed fact is that there is a significant shortage in accounting professionals in the marketplace. I don’t see that changing, absent changes in image in the marketplace, as well as reverting to previous standards for eligibility to sit for the CPA examination.

SS: I’d like to see the accounting industry continue to embrace AI. While the world has been hesitant of AI, fearing it might replace jobs, it’s actually creating opportunities to elevate the accounting profession. By automating routine tasks, AI frees up time for accountants to focus on strategic, impactful work.

AH: -A trend I would like to see stick around in 2025 in the industry is remote work. This is an industry that is generally pretty well-equipped for remote work, and it’s what a large percentage of workers prefer.


Is there a trend or issue you hope disappears next year?

RB: The confusion and conflicting rulings around the Beneficial Ownership Information Reporting requirement under the Corporate Transparency Act (CTA). The inconsistency has caused uncertainty for CPAs and business owners, compounded by unconstitutional rulings and changing enforcement policies. Additionally, I hope to see an end to marketing scams targeting business owners with false promises about Employee Retention Credit (ERC) claims.

HC: Inflation and rising tariffs are driving up the cost of goods, leaving many consumers overwhelmed. By 2025, I hope to see inflation ease, as its continued rise, coupled with higher tariffs, makes essentials harder to afford. Business owners and accountants will need to monitor costs and help clients adapt to these economic challenges while minimizing financial strain.

JF: I’m personally a proponent of dropping the 150-hour requirement for eligibility to sit for the CPA exam. I think the bar was raised too high when this standard was enacted and in today’s college tuition economy I think the marketplace perception is the juice doesn’t seem worth the squeeze. I think that a lot of students will just defer to finance and data science instead of pursuing accounting.

SS: I wish the outdated “month-end close” mentality would go away. In 2025, businesses should no longer accept delays in financial reporting when real-time insights are possible. It’s time to adopt a faster, smarter approach that keeps up with the speed of decision-making today.

AH: While this doesn’t apply to my company, there are a lot of companies out there that are resistant to change, especially when it comes to things like technology and remote work. A problem that this is contributing to is making less people want to enter the field, so there is a bit of a talent shortage. If more companies would embrace the new ways of the industry and of the workforce in general, I think that would help attract new talent.


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The Net Gains is curated and written by Paul McCormack and edited by Bianca Prieto.