Big Beautiful Bill changes

One of the biggest unknowns heading into 2026 is the impact of the so-called ‘One Big Beautiful Bill’. While much of the detail is still being interpreted, what is clear is that further tax code adjustments will add pressure to an already complex compliance landscape. For accountancy firms, this means more advisory work, more client questions, and a greater need to stay agile.

Accounting Today’s survey respondents highlighted that legislative uncertainty is becoming a near-constant rather than a short-term disruption. As a result, firms that rely heavily on seasonal tax work may find workloads more unpredictable, while those with strong advisory arms could benefit from increased demand. Either way, keeping teams informed and clients educated will be critical as changes filter through during 2026, particularly as businesses look for reassurance and clarity around compliance.

AI is already shaping the industry – will that change?

AI adoption in accounting is no longer a future trend; it’s a present reality. From automated bookkeeping and invoice processing to forecasting and fraud detection, firms are increasingly using AI tools to improve efficiency and reduce manual workloads. This shift is already being felt across the profession: 46% of accountants believe that AI has already had a major impact on the industry, and another 30% think it will in the next two years. AI is no longer the future, it’s the present, and adoption will be make or break.

That said, Accounting Today’s findings suggest that 2026 won’t be about adopting AI for the sake of it. Instead, firms are becoming more selective, focusing on tools that integrate cleanly with existing systems and genuinely improve client outcomes. There is also a growing recognition that AI won’t replace accountants, but it will reshape roles. Expect to see less time spent on data entry and more emphasis on interpretation, strategy and client-facing work.

Firms that invest in training alongside technology are likely to see the greatest returns, particularly as clients become more aware of what automation can (and can’t) do.

Will the market help or hinder the industry?

The broader economic outlook remains cautious. Persistent inflation concerns, tighter credit conditions and slower growth forecasts mean many businesses will be operating defensively in 2026. For accounting firms, this creates a mixed environment. Only 32% of those surveyed believe that the economy will grow in 2026, underlining just how fragile confidence remains and why firms will need to work harder to justify spend.

On one hand, cost-conscious clients may push back on fees or delay non-essential services. On the other, uncertainty tends to drive demand for financial advice, cashflow management and restructuring support. According to survey respondents, firms that position themselves as strategic partners rather than compliance providers are better placed to weather economic headwinds.

In short, the market may not make things easier, but it could reward firms that clearly demonstrate value.

What does this mean for SMBs?

For small and medium-sized businesses, 2026 could be a challenging year to navigate alone. Tax changes, economic pressure and rapidly evolving technology mean that many SMBs will lean more heavily on their accountants for guidance. JP Morgan’s annual business survey showed that SMBs are cautiously optimistic about their prospects, but still preparing for the worst-case scenario. While 76% of small business owners expect their companies to increase revenue in 2026, 47% are focusing on building cash reserves.

This tension between growth ambitions and financial caution creates a clear opportunity for accountants. Firms that can help SMBs navigate recent tax changes, manage cashflow effectively and make informed investment decisions will be well positioned to retain existing clients and win new ones. Increasingly, SMBs are looking for clarity and reassurance, not just end-of-year filings.

Accountants who can translate complexity into practical action will stand out.

How to prepare your accounting firm

Preparation for 2026 starts now. Firms should be reviewing their technology stacks, identifying skills gaps and reassessing service offerings ahead of the next tax season. Clear communication with clients around upcoming changes will also help manage expectations and build trust.

Many Accounting Today respondents emphasized the importance of flexibility: being ready to pivot as regulations evolve, markets shift and client priorities change. Firms that combine technical expertise with adaptability are likely to find that, while 2026 may be a mixed bag, it also offers real opportunities for growth.

For accounting professionals looking to stay ahead of the curve, events like The Business Show Miami offer a chance to explore new technologies, hear from industry leaders and connect with peers facing the same challenges. In a year defined by change, insight and preparation will be your strongest assets.

Click here to inquire about exhibiting at The Business Show Miami in April.