FLYFIN TAX | THE BEST AI TOOL EVER?

Simplify tax filing for freelancers & self-employed. Eliminate work with AI, maximize deductions, file taxes in 5 min with audit insurance. Trusted by experts.

Our Verdict

FlyFin stands out as a comprehensive solution for freelancers, offering efficient tools for bookkeeping and tax filing, and managing federal and state taxes. The app provides valuable features, including unlimited CPA advice and assistance with quarterly taxes.

Our team's professional findings highlight its user-friendly interface, though some considerations, such as the need to upgrade for tax filing and the absence of integrated mileage tracking, should be noted. With FlyFin, freelancers can streamline their tax-related tasks. Empower your freelance journey with FlyFin and start filing taxes with ease.


About Flyfin

Flyfin

Flyfin, tailored for self-employed individuals, brings a revolutionary approach to tax management. Primarily utilized by independent contractors, sole proprietors, and gig workers, this AI tool streamlines the process of identifying tax deductions.

By seamlessly connecting various expense accounts, Flyfin's A.I. diligently scans for every conceivable deduction, reducing workload by an impressive 95%. Geared towards those seeking maximum tax savings, Flyfin serves as an invaluable tool for bookkeeping, tax filing, and optimizing freelance tax deductions. Its additional benefits make it an indispensable resource for the ever-growing community of self-employed professionals.


Overview of Flyfin

Flyfin

In our exploration of Flyfin, we delve into its features, accessibility, and pricing plans. As our team of experts navigated the tool, we assessed its effectiveness and user experience. From the intricacies of its features to its pricing plans, we provide you with firsthand insights to guide you through understanding Flyfin.

Whether you're eyeing the free version or contemplating the paid plans, our professional findings offer a comprehensive overview, shedding light on how Flyfin can potentially revolutionize your tax management experience and calculate estimated taxes and deductible expenses.


Pricing

Flyfin

Flyfin provides a user-friendly pricing structure with a 7-day free trial for freelancers to explore its deduction identification capabilities before committing to a plan.

  • BASIC Plan - $84 Annually: Freelancers seeking help with bookkeeping, excluding tax filing assistance, benefit from a comprehensive financial management solution tailored to their needs.
  • STANDARD Plan - $192 Annually: Ideal for freelancers and solopreneurs, this plan includes both tax filing and bookkeeping support, offering a holistic financial management solution for individuals managing their businesses independently.
  • PREMIUM Plan - $348 Annually: Geared towards S-Corps, K-1s, and other multi-person entities, this plan offers advanced features to cater to the complex financial needs of larger business structures, ensuring comprehensive financial management.

Flyfin's pricing plans are designed to accommodate various user requirements, and with a 7-day free trial, users can experience the platform's capabilities before committing. Moreover, you can cancel anytime you want.


Features

In our exploration of FlyFin, our team of experts delved into its array of features designed to simplify tax management for freelancers. FlyFin seamlessly integrates bookkeeping and tax preparation, standing out as an invaluable tool for individuals navigating the intersection of business and personal finances. File taxes and calculate tax deduction with ease using this amazing tool.

  • CPA-Prepared Tax Returns

    One standout feature is the option for users to have their tax returns prepared by a Certified Public Accountant (CPA). Our team experienced a smooth process where a tax assistant collected necessary information via a Zoom call, allowing the CPA to prepare a comprehensive and accurate tax return tailored to the filer.

  • AI-Enhanced Expense Tracking

    FlyFin leverages multiple algorithms to detect and record eligible expenses, providing users with a proactive approach to deduction identification. During our testing, the app's AI algorithms efficiently pushed notifications to users for expense confirmation. Additionally, the ability to seek clarification directly from a CPA within the app offered real-time expert assistance.

  • Quarterly Tax Calculator

    FlyFin's quarterly tax calculator emerged as a valuable tool for freelancers. Our team appreciated its ability to generate estimated tax burdens, preventing freelancers from over or underpaying throughout the year. The inclusion of income and expense data enhances accuracy, ensuring users stay on track with their tax obligations.

  • Exportable Tax Reports

    For freelancers who prefer to handle tax filing independently or use different tax software, FlyFin offers the option to export tax reports. Our team found this feature useful for those who desire flexibility in their tax filing process.

  • Drawbacks

    During our assessment, our team uncovered certain considerations freelancers should keep in mind. Notably, users are required to upgrade to the Standard package, priced at $192 annually, to avail themselves of tax filing capabilities within the app. While FlyFin does offer mileage deductions and assistance with Travel, Rent, and Mileage deductions, it lacks an integrated mileage tracking feature. Therefore, users may need to utilize additional apps for precise mileage. It's also important to note the app's annual billing structure, which may catch some freelancers by surprise.

  • Resourceful Inclusions

    FlyFin complements its services with an array of resources, including deduction guidelines, a blog, tools and calculators, tax forms, itemized deduction information, tax credits details, and various guides tailored to specific professions and business categories.

    FlyFin AI offers freelancers an innovative and efficient solution for managing taxes effortlessly. While there are some limitations, such as the absence of mileage tracking, the designated CPA team, proactive expense tracking, and the comprehensive quarterly tax calculator make FlyFin a noteworthy tool for freelancers seeking accurate and expert-driven tax management.


Pros and Cons of Flyfin

Unveiling the strengths and weaknesses of any AI tool is crucial for users seeking optimal solutions. FlyFin, designed for seamless tax management, presents a blend of advantages and limitations that our team of experts explored firsthand.

Pros

Multiple Tools: FlyFin boasts a versatile toolkit encompassing bookkeeping technology, tax preparation services, and comprehensive resources. Our team found these tools to be invaluable for freelancers seeking an all-in-one solution.

Saves Time: The efficiency of FlyFin translates into significant time savings for users. During our testing, the streamlined processes, from expense tracking to quarterly tax calculations, contributed to a more time-efficient tax management experience.

Broad User Base: FlyFin has garnered popularity among a diverse user base, including freelancers, self-employed individuals, and gig workers. The broad adoption speaks to its relevance and utility in catering to the needs of various professionals.

Cons

Limited to the USA Market: A notable limitation of FlyFin is its focus on the USA market. Our team observed that the tool's features and tax-related functionalities are tailored to the U.S. tax system, limiting its utility for international users.

Occasional Bugs: During our exploration, we encountered occasional bugs within the platform. While these instances did not significantly impede functionality, our team noted that occasional glitches could be a consideration for users seeking seamless experiences.


User Reviews of Flyfin

When considering any tool, it's valuable to explore the experiences and opinions of users who have firsthand experience with it. Here are a few user reviews that provide insights into Flyfin and its functionality:

"This is one of the best tax applications out there. Even if you don't have any knowledge of tax prep, the app guides you all the way through till the very end. My expenses are so well organized and it's easy for me to check up on all my business expenses. I recommend this app to every freelancer." - from Alex

"I got to know about this app through a friend, and I must say that I'm super impressed. I downloaded it a couple of months back and it has helped me track all of my expenses and provided me an extensive list of deductions. I look forward to January now!" - from Pamela Berkeley


How We Tested Flyfin

Our team used these key criteria to form the basis for their evaluation:

User-Friendliness: In assessing user-friendliness, we found FlyFin's user dashboard to be well laid out. However, some editing features presented a learning curve. The intuitive design facilitates smooth navigation, enhancing the overall user experience.

Speed: FlyFin's commitment to streamlining processes manifested in its speed. The tool efficiently handles intricate tax-related tasks, contributing to time savings. During our evaluation, we experienced a notable reduction in time spent on tax-related activities.

Overall Quality of Service: Our team placed paramount importance on the overall quality of service. FlyFin showcases a commitment to providing accurate and efficient tax solutions. The tool's incorporation of AI algorithms contributes to a comprehensive and reliable service, catering to the diverse needs of freelancers.

Price: FlyFin offers a free version, providing a valuable entry point for users. The pricing plans provide flexibility, allowing users to choose based on their specific needs. The affordability aligns with the diverse requirements of freelancers.


Our Review Rating System

We employ a 5-star rating system for all the AI tools we review to give you a comprehensive idea of the overall utility of each tool.

  • Five stars: Editor’s choice
  • Four stars: An excellent choice
  • Three stars: Meets some of our standards
  • Two stars: Doesn’t meet our standards
  • One star: Not recommended

Our team of experts has awarded this AI tool an overall rating of four stars, as Flyfin proves to be a robust AI tool with a plethora of useful features. However, our assessment reveals a significant focus on the USA market, limiting its applicability to a global audience. Additionally, the tool is currently available only in English.

Despite these considerations, Flyfin stands out as a valuable asset for those navigating the complexities of tax deductions and business expenses, particularly within the context of the United States.


Alternatives to Flyfin

In the dynamic landscape of AI-driven tax management, various alternatives complement or diverge from FlyFin's offerings. Our exploration unveils noteworthy alternatives, each bringing its unique strengths and considerations to the table.

Taxly AI

Taxly AI distinguishes itself with an intuitive interface and automated features. During our testing, we appreciated its user-friendly design, making tax processes accessible for a diverse audience. Taxly AI caters to both individual and business tax needs, offering a seamless alternative with a focus on simplicity.

VATCalc AI

VATCalc AI specializes in accurate value-added tax (VAT) calculations. Our team observed its proficiency in handling complex VAT scenarios, making it an ideal choice for businesses dealing with international transactions. With real-time updates and compliance features, VATCalc AI stands out for its precision in navigating VAT complexities.

Deloitte AI

Deloitte AI leverages advanced technologies to provide comprehensive tax advisory services. Our exploration revealed its integration of AI in offering industry-specific tax insights. Deloitte AI caters to businesses seeking not just automated processes but also expert guidance, making it a prominent alternative for those valuing industry expertise.

Thriday AI

Thriday AI introduces innovation to tax compliance, focusing on predictive analytics and compliance automation. During our assessment, we noted its emphasis on proactively identifying compliance issues and providing predictive solutions. Thriday AI appeals to businesses aiming for forward-looking tax strategies and streamlined compliance processes.


Flyfin FAQ

Here we'll answer some of the most frequently asked questions about our Flyfin review.

How much does Flyfin cost?

Is there a free trial for Flyfin?

What type of customer support does Flyfin offer?

How does Flyfin differ from other tools?

Is Flyfin suitable for every business?

What languages does Flyfin support?