Tabby's AI tax engine has three major differentiating values:1) Real-time deduction recommendationsTabby analyzes every transaction as soon as it occurs, whereas traditional software only generates a summary report during tax season. For example, when a payment is made for a web server, it immediately indicates that "this expense qualifies for the IRC Section 179 equipment credit", allowing users to dynamically optimize their tax strategy.
2) Sub-project tracking: Freelancers can create tags for different clients/projects, and the system automatically calculates each item: ① Deductible expense percentage ② Estimated taxable income ③ Quarterly prepaid tax amount. Compared to software such as QuickBooks, which requires complex manual screening, this feature improves the efficiency of 1099 tax form preparation by 70%.
3) Deferred tax projections: Based on cash flow data, AI will simulate the impact of different deduction options on annual tax liability (e.g., whether to choose standard deduction or itemized deduction) and give optimization suggestions. Feedback from internal test users that this feature helps save $1,200/year of excess tax payment on average.
All of these features are presented intuitively via mobile, eliminating the complex learning curve of traditional tax software.
This answer comes from the articleTabby: an AI automated bookkeeping tool for small businesses and freelancersThe
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