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Jaw-Dropping Stats for Ai & Small Businesses 🤖

Dear Future-Focused Entrepreneurs,

AI is a reality. It can automate complex tasks, analyze mountains of data, and tell you the weather.

But can it superpower your small business?

The short answer is an emphatic yes.

Let's dive into a fascinating study that looks at how small businesses are leveraging AI and then reveal how you can join the revolution with UnitedTax.AI.

The Constant Contact Study

Last November, the Small Business & Entrepreneurship Council ran a survey (PDF link) to see how small businesses are adopting AI and what the results have been.

They found that:

● 48% of small businesses had adopted some AI technology in 2023

● 29% had been using AI for up to two years

● 93% of small businesses that adopted AI said it made them more successful

● 41% used AI to save time so they and their employees could focus on higher-value work

● 34% used savings from AI to grow their business

● 25% raised wages thanks in part to the savings

● 36% reported AI allowing them to keep prices stable despite inflation

These are jaw-dropping numbers.

It’s that kind of impact that inspired us to start our latest project (more on that below).

Bringing AI to Your Business with UnitedTax.AI

Inspired to bring AI into your small businesses? We want to help!

Our upcoming bookkeeping app offers powerful AI integration to streamline your business finances, intelligently categorize transactions, and offer Ai suggestions based on your financial data.

**Attention Small Business Owners Who Pay Freelancers**

Freelancer Law Alert 🚦🚦🚦

If you run a small business, this could be big. If you are a freelancer, it could be even more significant.

It’s no secret that independent contractors have ballooned as a labor category over the last decade. Industries across the board now rely, to some degree, on these roles.

For employers, it's an easy way to reduce their tax burden. However, a new rule went into effect on March 11 that could shift many of these roles back to more traditional employee status.

The New Rule

The proposed new rule states that an independent contractor will be considered an employee if they are “economically dependent” on a company.

This contradicts a previous rule stating that if an employee could work for another company simultaneously, they were an independent contractor.

The new rule aligns the executive with the judiciary. For years, courts have held that if an independent contractor is entirely dependent on work from a single company, they should be considered employees and given all the rights associated with that.

How Big of a Change Are We Talking About?

The Labor Department has been quick to manage expectations.

They say the new rule isn’t intended to make sweeping economic changes. It just becomes one more tool to ensure employers aren’t abusing the laws.

In short, the new rule might change how freelancers and small businesses work. It says if you depend a lot on one company for work, you might be considered an employee instead of an independent contractor. This rule aims to ensure fair treatment for workers, but it could impact how businesses operate.

Don’t forget about the tax filing deadline!

As the tax filing deadline draws near, we wanted to remind you to ensure your taxes are in order. If you find yourself in need of assistance or extra time, UnitedTax.Ai is here to support you. Whether you require help with filing your taxes or need to file an extension to allow additional time to gather your documents, our team is ready to assist. Don't let the deadline sneak up on you—reach out to UnitedTax.Ai today and let us help you navigate your tax obligations smoothly.

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