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Magnetic is a cutting-edge AI-powered tax preparation tool designed to revolutionize the workflow of tax professionals. By automating repetitive manual tasks, Magnetic empowers accounting firms to significantly enhance efficiency, reduce errors, and dedicate more time to client relationships and strategic advisory services. The platform leverages proprietary AI to scan, organize, and input data from a wide array of client documents directly into existing tax software, streamlining the entire preparation process.
Magnetic offers a comprehensive suite of features to optimize tax preparation:
Magnetic is ideal for tax firms, CPAs, and Enrolled Agents (EAs) seeking to modernize their practice, reduce operational overhead, and improve the accuracy and speed of tax return preparation. It's particularly beneficial for firms handling a high volume of returns or those looking to scale their operations efficiently.
To experience the benefits of Magnetic, tax professionals are encouraged to book a demo via the website. This allows potential users to see the tool in action and understand how it can be integrated into their specific practice workflows.
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Automates the scanning and data entry from all client tax documents, including PDFs, images, and handwritten notes.
Seamlessly integrates with your existing tax software, inputting data directly like a human would.
Ensures data privacy and compliance with 256-bit bank-level encryption and U.S.-based secure servers.
All returns are reviewed for accuracy by U.S.-based EAs and CPAs before final client review.
Handles a wide variety of file formats, including complex K-1s, brokerage forms, and prior year returns.
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