SAN JOSE, California, November 11, 2021 / PRNewswire / – FlyEnd, a fintech provider, has announced its release from beta to officially launch its namesake offering. FlyFin is the first AI-based tax engine that combines the human expertise of real CPAs to eliminate 95% of the labor required for freelance workers. The mobile first app is ideal for freelancers, gig workers, free agents in the creative economy, and freelancers with a higher level of tax complexity.
FlyFin squarely solves the problems self-employed and freelancers face when it comes to preparing tax returns, including the uncertainties of time-consuming and complicated accounting and tax reporting, knowing which deductions qualify and meeting deadlines. set to avoid tax penalties. According to a investigation Earlier this year, 33% of Americans procrastinated to do their taxes and waited until the last minute. He also revealed that millennials are more likely to postpone filing their taxes compared to different generations.
As part of its launch, FlyFin has also introduced additional services bundled into its packages.
- Full tax report: An in-depth analysis and report produced by analyzing all user expenses to understand all the areas and specific deductions they can take to maximize their tax savings. The personalized tax report is generated using AI and fully reviewed by CPAs. The average value for a service like this is $ 499, but FlyFin will provide it free of charge to subscribers opting for standard and premium plans.
- Full Audit Insurance: An important insurance, this insurance offers complete management of any IRS or state tax notice or “audit” requiring the review of a tax return. The FlyFin CPA team will review, research, respond to and represent a user with the IRS from start to finish. This guarantee is generally a $ 150 value that standard and premium subscribers receive for free.
To get started, users download the app and link their accounts to make it easier to track expenses. FlyFin’s AI engine automatically analyzes expense accounts daily to suggest the category in which to classify expenses based on profession. FlyFin’s AI and CPAs find all possible tax deductions. Users also have access to the expertise in the field of tax CPAs, who examine each individual’s tax information and provide expert assistance to maximize savings. Users have the option of filing their taxes with FlyFin’s CPAs, which guarantee 100% accurate tax review and preparation, or can export their data in an IRS-ready format.
FlyFin aims to disrupt the $ 23 billion U.S. tax preparation market The pandemic has continuously modified companies adapting to remote work, accelerating their plans to hire more freelancers. With 70 million freelancers, the American market is expected to reach 86.5 million self-employed over the next five years. By 2027, the self-employed will represent about 51% of the total U.S. workforce. According to a 2019 Upwork report.
FlyFin is led by a strong team of experienced and successful AI and research entrepreneurs from leading companies in the industry including LinkedIn, Microsoft and Facebook. Co-founder and CEO Jaideep Singh proven experience has created more than $ 3 billion in value for companies. In 2007, he co-founded Spock, the industry’s leading people search engine and one of the early adopters of AI, indexing over 1 billion people, representing over 1.5 trillion data records. He has founded or funded many companies in Silicon Valley and India.
Pricing and availability
Available immediately, FlyFin offers three packages (basic, standard and premium) which vary in terms of service and features provided, with prices starting at $ 7, 16 $, and $ 29, respectively. For iPhone or iPad users, the app requires iOS 11.0 or later and can be downloaded here. A desktop version is also available for Macs with an Apple M1 chip. Android users can download the FlyFin app here.
FlyEnd is an AI-powered SaaS platform that provides freelancers, freelancers and workers in the creative economy with a convenient, easy-to-use and affordable answer to maximize their deductible expenses and manage their tax returns. FlyFin’s “Man + Machine” approach harnesses the power of AI combined with CPA expertise to deliver automation that eliminates 95% of the work required for an individual to prepare their tax returns, with a tax return. income led by world-class CPAs. Situated at San jose, california, FlyFin is a private company funded by venture capital.