FlyFin A.I.: Bookkeeping and Income Tax Done for the Busy Freelancer

Introduction: What is FlyFin A.I.?
Who is it for?
What are the Benefits of Using FLYFIN A.I. for Income Tax?
Automated Bookkeeping
Access to a certified accountant
Tax filing
Finding Potential Deductions
Plans and Pricing
How to Get Started With FlyFin A.I.?
Testimonials
Conclusion

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Introduction: What is FlyFin A.I.?

FlyFin A.I. is an artificial intelligence (AI) – powered app that helps you prepare your income tax return from start to filing. This A.I. based software is primarily intended for freelancers but also can be used by small businesses and W-2 employees to have their taxes filed for them.

FlyFin is a one-stop solution for all your tax needs, from identifying bookkeeping categories to calculating quarterly taxes, and best of all the A.I. is trained to identify every possible deduction and reduce your overall tax burden. The app’s cloud-based software automates the entire process of tax preparation and filing.

Who is it for?

FlyFin A.I. income tax is intended for freelancers. There are many use cases for A.I. in the world of taxation today, but there has been a trend of people moving towards remote work since the Covid-19 Pandemic. If the pandemic proved anything, individuals can schedule time for their families and chores while still getting work done. Not only have employees discovered work from home culture to be fruitful, they have also become independent by offering their services as Freelancers, doing work as graphic designers, SEO specialists and content writers, to name just a few. Being a freelancer allows an individual to offer multiple services and work on their own time. But for freelancers, income tax as a 1099 employee can be a challenge. The FlyFin app helps freelancers sort through their income and expenses by categorizing them and identifying potential deductions. FlyFin also has a plan to accommodate small businesses filing as S-Corps or K-1s.

What are the Benefits of Using FLYFIN A.I. for Income Tax?

FlyFin A.I. is a software that automates the intricacies of income tax filing. It reduces the time freelancers normally spend on taxes by 90% and provides 100% accurate tax calculations to avoid any errors. The best part is that it can be accessed anywhere and anytime from your phone.

Automated Bookkeeping

When you download the FlyFin app, create an account and link your bank statements. The app prompts you to categorize your transactions, to let the A.I. learn to categorize automatically and find all deductions. Compared to other software like Quickbooks, FlyFin has a much better grasp on bookkeeping and automating the categorization. As a business owner, I found Quickbooks to be very manual and time consuming, whereas with FlyFin, the A.I. helps to automate as many parts of the tax process as possible.

Access to a certified accountant

FlyFin’s team of expert CPAs has more than 100 years of combined experience in freelancer taxes, and they’re available 24/7 to answer your questions and to review your taxes before filing. There are 3 Plans, Basic, Standard and Premium. The Basic plan does include limited tax CPA consultation, but does not include tax filing. The Standard plan gives you one-to-one consultations with a CPA, and with the Premium plan, an accountant files your taxes for you. The team of accountants is made up of experts in income tax intricacies. In general, when you have questions, you can simply log into your app and ask questions directly with an accountant.

Tax filing

Income tax filing can be a nightmare for many freelancers and small businesses. Questions often come up about how to file, what items to include, what’s a business expense, what’s a personal expense, etc. Having an accountant at your side who can walk you through the filing process is one of FlyFin’s best features. Tax filing is available through the Standard and Premium plans covering both federal and state taxes. The system will generate Income Tax reports for you as the filings take place.

Finding Potential Deductions

This is a nice feature and a differentiator with FlyFin. Most tax services will help you record your expenses, but FlyFin examines your expenses for every possible deduction, potentially saving you thousands of dollars. This is especially crucial for Freelancers who often work on many smaller projects and can easily miss out on an expense that could be a business deduction.

Plans and Pricing

The Standard plan is the most featured with FlyFin, as it is the most common for Freelancers to use. The Premium plan is geared towards small businesses who will be filing a K-1 or similar business tax on a pass-through entity.

How to Get Started With FlyFin A.I.?

Signing up to get started is a breeze. Simply follow our link to FlyFin and download the app. Register your account, then link your statements for the accounts you use in freelancing or as a small business. FlyFin uses a service called Plaid to process connectivity to your bank. Your transactions will show in the app, you answer a few questions, and within minutes you are using A.I. to categorize your expenses.

You can get started now with a free 7-day trial.

Testimonials

Conclusion

I would recommend FlyFin to anyone in the freelance and small business community who wants to save time and money preparing and filing their income taxes. It combines A.I. with solid support from a highly experienced team of accountants, all at your fingertips.