TWR Podcast Episode 107: 5 Things We Must Watch Closely in 2025

The year 2025 is poised to be a pivotal period for accounting professionals, with rapid technological advancements, evolving business models and significant regulatory shifts reshaping the landscape. In a recent episode of The Woodard Report Podcast, hosts Joe Woodard and Heather Satterley discussed five key areas practitioners should watch for to remain relevant and successful in the industry.

They delve into these crucial topics and provides actionable insights for accounting, bookkeeping, and tax professionals.

1. Artificial intelligence: The game changer

Artificial intelligence (AI) continues to be the most transformative force in the accounting industry. The integration of AI and machine learning is not just about automation; it’s about enhancing efficiency, improving decision-making, and redefining the role of accountants as strategic advisors.

Heather emphasized the importance of understanding AI beyond the myths perpetuated by science fiction. She recommended reading More Than a Glitch by Meredith Broussard, which explores the ethical implications of AI and the biases embedded in technology.

Additionally, she encouraged professionals to invest time in AI education, whether through books, webinars or industry conferences such as Scaling New Heights 2025, which will feature dedicated AI sessions.

2. Policy changes under the new presidency

With the inauguration of President Trump for a second term, significant policy changes are already underway. Over 50 executive orders were signed on day one, impacting various industries, including accounting and taxation.

One of the key developments is the IRS hiring freeze, which may affect tax enforcement and audit procedures. Additionally, all federal employees, including IRS staff, have been mandated to return to in-office work, signaling a shift away from remote operations.

Another noteworthy policy is the reinforcement of tax exemptions on tips, which presents logistical challenges in tax compliance and enforcement.

Accounting professionals must stay informed about these changes and proactively assess their impact on clients. The Woodard Report will continue to provide updates and analysis on regulatory developments relevant to the accounting sector.

3. Exploring new business models and services

The industry is experiencing a wave of private equity acquisitions, technological disruptions and shifting client expectations. Firms must reassess their business models and consider diversifying their service offerings to remain competitive.

Heather urged professionals to explore new opportunities, whether through adopting value pricing, integrating advisory services, or leveraging emerging technologies. She highlighted the importance of understanding market trends and adapting strategies accordingly.

Upcoming industry events, such as Scaling New Heights, will feature expert-led discussions on private equity, mergers and the evolving role of accountants in a technology-driven world.

4. Prioritizing self-care and well-being

The fast-paced nature of the accounting profession, combined with external stressors such as economic fluctuations and policy changes, makes self-care more critical than ever. Both Joe and Heather emphasized the need for professionals to prioritize mental and physical well-being to sustain long-term success.

Heather shared her personal experience with mindfulness and meditation, citing their benefits in managing stress and staying present. Joe recommended Unwinding Anxiety by Judson Brewer, a book that explores strategies for overcoming stress and uncertainty.

They also referenced Your Best Year Ever by Michael Hyatt, which includes an assessment tool to help individuals identify areas for personal and professional growth.

5. Taking action: “Make It So”

The theme for Scaling New Heights 2025 is “Make It So,” a call to action for professionals to commit to progress in at least one key area. Whether it’s mastering AI, adapting to regulatory changes or prioritizing self-care, the key to success lies in taking consistent, intentional steps forward.

Heather introduced the concept of “just for today,” inspired by her Reiki training. By focusing on small, daily improvements rather than overwhelming long-term goals, professionals can make meaningful progress without succumbing to stress.

Joe reinforced this mindset by emphasizing that vision should act as a guiding force rather than a fixed destination.

Final thoughts

As 2025 unfolds, accounting professionals must embrace change, seek knowledge and remain adaptable. The five key areas outlined in this discussion—AI, regulatory changes, business model innovation, self-care, and proactive action—serve as essential focal points for success in the year ahead.

To stay updated on industry trends and insights, professionals are encouraged to subscribe to The Woodard Report and participate in industry-leading events such as Scaling New Heights 2025.

By staying informed and proactive, accountants can continue to add value to their clients and navigate the evolving business landscape with confidence.