What is Flyfin Tax?

Flyfin Tax is an innovative tax filing service that combines advanced artificial intelligence (AI) with the expertise of certified public accountants (CPAs) to streamline the tax preparation process. Designed primarily for freelancers, self-employed individuals, and small business owners, Flyfin aims to simplify tax filing by identifying potential deductions, preparing tax returns, and ensuring compliance with tax regulations. The platform is recognized as the world’s #1 AI and CPA tax filing service, offering users a faster, more affordable, and efficient way to manage their taxes.

Features

Flyfin Tax comes equipped with a plethora of features that cater to the diverse needs of its users. Here are some of the standout features:

AI Deduction Tracker

• Automatic Scanning: Flyfin’s AI scans your expenses and identifies potential tax deductions from over 200 categories.
• Quick Review: Users can easily swipe through the detected deductions, accept or reject them, and consult a CPA if needed.

CPA Support

• Expert Preparation: A dedicated CPA is assigned to each user, ensuring that tax returns are prepared accurately and efficiently.
• Full Review: CPAs review every deduction and provide personalized tax-saving strategies.

Monthly Financial Tracker

• Expense Tracking: The platform automatically tracks finances, making it easier for users to keep tabs on their financial health.
• Quarterly Tax Calculator: Flyfin helps users estimate their quarterly tax payments based on their deductions and income.

E-filing

• Seamless Submission: Once the CPA prepares the tax returns, they are e-filed directly to the IRS, completing the tax filing process with minimal hassle.

Community Support

• Tax Questions: Flyfin boasts a community where users can ask unlimited tax-related questions and receive answers from CPAs.
• Resource Hub: The platform provides access to various resources and guides to help users navigate their tax obligations.

Full Audit Insurance

• Audit Support: In the event of an audit, Flyfin’s CPAs handle all communications with the IRS, ensuring users have professional support during the process.

Money-Back Guarantee

• Satisfaction Assurance: Flyfin offers a 100% money-back guarantee for users who are not satisfied with the service.

Security

• Bank-Level Security: Flyfin employs robust security measures powered by Mastercard and Plaid, ensuring the protection of sensitive user data.

Use Cases

Flyfin Tax is designed to cater to various user profiles, making it a versatile tool for different tax situations. Here are some common use cases:

Freelancers and Gig Workers

Freelancers often have complex tax situations due to multiple income streams and various deductible expenses. Flyfin helps them maximize their deductions and simplify the filing process.

Self-Employed Individuals

Self-employed individuals can benefit from Flyfin’s ability to track business expenses and provide insights into tax-saving strategies tailored to their unique circumstances.

Small Business Owners

For small business owners, Flyfin offers a comprehensive solution to manage federal and state tax returns, ensuring compliance and maximizing refunds.

W-2 Employees with Side Hustles

Individuals who are primarily W-2 employees but also engage in side hustles can use Flyfin to ensure they accurately report their additional income and claim relevant deductions.

Tax Professionals

CPA firms can also leverage Flyfin to automate tax filings for their clients, enhancing efficiency and reducing overhead costs.

Pricing

Flyfin Tax operates on a subscription-based pricing model. While specific pricing details may vary, users can expect to pay a fee for the service that includes access to both AI tools and CPA support. Here’s a general overview of the pricing structure:

• Basic Plan: This plan typically includes access to the AI deduction tracker and basic CPA support.
• Premium Plan: The premium option offers enhanced features, such as more personalized CPA consultations and additional financial tracking tools.
• Custom Plans: For CPA firms or users with unique needs, Flyfin may offer custom pricing plans tailored to specific requirements.

It’s important to note that while Flyfin charges a fee for its services, it is positioned as a more affordable alternative compared to traditional tax services, such as TurboTax and H&R Block.

Comparison with Other Tools

When considering tax filing services, Flyfin stands out from its competitors for several reasons:

Speed and Efficiency

• AI Integration: Flyfin’s AI technology allows users to complete tax filings 20x faster than traditional methods, significantly reducing the time spent on tedious paperwork.
• Automation: The platform automates the identification of deductions, eliminating up to 95% of the manual work typically involved in tax preparation.

Cost-Effectiveness

• Affordable Services: Flyfin claims to be 5x cheaper than hiring traditional CPAs, making it an attractive option for budget-conscious users.

Comprehensive Support

• CPA Expertise: Unlike many DIY tax software options, Flyfin pairs AI capabilities with the expertise of certified CPAs, ensuring accurate and compliant tax filings.
• Community Engagement: Flyfin’s community support allows users to ask questions and receive guidance, which is often lacking in traditional software solutions.

Audit Protection

• Full Audit Insurance: The inclusion of full audit support at no extra cost is a significant advantage over many competitors, providing peace of mind for users.

FAQ

Will I be charged automatically by linking my expenses?

No, linking your expenses with Flyfin only provides permission to read your account statements. There is no risk of being charged automatically.

Can I use Flyfin if I am not a freelancer?

Yes, while Flyfin primarily caters to freelancers, gig workers, and self-employed individuals, anyone can file their taxes through the platform.

Does Flyfin charge any fees for filing taxes?

Yes, Flyfin charges a fee for its services, which includes access to AI tools and CPA support. The exact pricing will be available in the latest version of the app.

What types of banks does Flyfin support?

Flyfin supports over 2,000 financial institutions, allowing users to securely link their accounts and automatically track expenses.

What deductions does Flyfin detect?

Flyfin’s AI and CPA team help users identify various freelance tax deductions, including home office expenses, business travel, meal deductions, and more.

How can Flyfin help me calculate my quarterly taxes?

Flyfin automatically finds every deduction and helps users answer a few basic questions to accurately calculate quarterly tax payments. Additionally, users can consult a CPA for free to prepare quarterly taxes.

Can I export my tax summary if I don’t want to file my taxes via Flyfin?

Yes, users can export their tax summary for IRS form 1040 in Excel format, allowing them to share it with their CPA if they choose to file independently.

Is my data secure with Flyfin?

Yes, Flyfin utilizes bank-level security measures to protect user data, complying with the highest data privacy standards in the US.

In conclusion, Flyfin Tax offers a robust solution for tax filing, combining the efficiency of AI with the expertise of CPAs. Its unique features, cost-effectiveness, and comprehensive support make it an ideal choice for freelancers, self-employed individuals, and small business owners. By simplifying the tax preparation process and maximizing potential deductions, Flyfin empowers users to take control of their finances and ensure compliance with tax regulations.