Tax management platform Indeed announced on June 9 the launch of its artificial intelligence-driven tax reports, designed to enhance how business owners and individuals make tax decisions and maximize tax savings.
Instead’s platform enables users to get ahead of tax deadlines by turning reactive filing into proactive financial strategy. By harnessing AI to analyze every line of the tax return, users can uncover eligible tax strategies and missed opportunities, the San Francisco-based company said in a media release on Monday.
“We are excited to bring our users the future of smart, effective decisions when it comes to filing taxes,” Andrew Argue, CPA, CEO and co-founder of Instead, said in a statement. “With Instead, users can easily uncover and implement tax strategies and opportunities that will save them money and have the transparent calculations to support a tax return.
“And this is just the beginning,” he added. “We have some exciting things on our roadmap and look forward to sharing them very soon.”
Reports include:
- Tax return analysis report: Reveals tax-saving opportunities in tax returns for individuals (1040) and businesses (Schedule C, E, F, 1120, 1120S, and 1065).
- Tax plan report: Provides a real-time summary and action list of all tax strategies across all entities in a tax year. This includes potential and actual savings, summaries for each tax strategy, and IRS and court case references.
- Tax strategy reports: One for every tax strategy, complete with detailed calculations of deductions and credits, supporting documentation, and an actionable plan including common pitfalls and steps to file.
Every report is designed for clarity, compliance, and confidence and is backed by detailed calculations and real-time updates to support users’ final tax return, Instead said.
Instead users can invite their tax professional to collaborate on tax strategies or search the directory of firms that support the Instead platform and offer tax planning and advisory. All tools are built to ensure users and their advisors can maximize tax savings together with transparency and ease, the company said.
A free trial is available. For more information or to sign up, visit www.instead.com.
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