Filing taxes as a freelancer can be expensive and complicated. It’s easy to miss legitimate tax deductions for things like your home office, cell phone bills, or work-related travel expenses. The best solution to this is ongoing, high-quality bookkeeping software. But most bookkeeping software is typically designed for small businesses and Freelancers who keep their business finances separate from their personal finances.

FlyFin Tax is a bookkeeping and tax-filing service that recognizes that many freelancers don’t separate their finances. Even if they have a business checking account, freelancers can often deduct a portion of their rent, their utilities, and other related expenses. The app is designed to help freelancers identify legitimate deductions, so they can easily file their taxes.

The software generates reports, so users can file their taxes outside of the software, or users can pay to have a CPA file taxes on their behalf.

FlyFin Tax - Is It Really Free?

FlyFin Tax offers a 7-day free trial. This allows freelancers to use the app to identify and categorize deductions. Users who upgrade to the Standard Plan ($16 per month) can have a CPA file their Federal and State taxes as part of the price of the service.

What's New In 2022?

FlyFin Tax just launched in time for the 2021 tax filing season. The company offers innovative features such as quarterly tax calculators, data exports, expense reviews from CPAs, and tax returns prepared by CPAs (even for your non-freelance taxes).

The company uses Artificial Intelligence to identify potential expenses. They are constantly rolling out new versions of the A.I. to help different types of freelancers categorize their expenses.

Users who upgrade to the Standard or Premium service tiers qualify for a CPA to prepare their state and federal tax returns.

Does FlyFin Make Filing Taxes Easy In 2022?

FlyFin radically simplifies tax filing for freelancers with a two-pronged approach to tax filing. First, the company specializes in finding tax deductions for freelancers. It uses A.I. to help freelancers find, verify, and record all deductible expenses. It also generates reports related to income. This automated bookkeeping makes tax filing much easier at tax time. If users have a question, FlyFin allows users to ask a CPA for clarifications.

Second, FlyFin Tax connects users to CPAs through the app. These CPAs can use the FlyFin Tax reports to quickly prepare tax returns for freelancers.

The service is designed to keep tax-time headaches low for freelancers.

FlyFin Notable Features

FlyFin’s easy-to-use bookkeeping technology, and full-service tax preparation, make the tool a standout for freelancers and other people who tend to mix their business and personal finances.

CPA-Prepared Tax Returns

FlyFin Tax users can have their tax returns prepared by a CPA. A tax assistant will collect all the necessary information via a Zoom call, so the CPA can prepare a tax return for the filer.

AI Designed To Detect And Record Eligible Expenses 

FlyFin Tax has multiple algorithms that are “trained” to help different types of freelancers identify and record their deductible expenses. The company offers an app, and it pushes notifications to users. Users can confirm the expenses directly through the app. If a user has questions about a specific expense, they can ask a CPA directly through the app.

Quarterly Tax Calculator

FlyFin Tax has a quarterly tax calculator that generates estimated tax burdens for freelancers. The app includes income and expenses so that users don’t dramatically over or underpay in a given year.

Related: The Ultimate Guide To Self-Employment Estimated Taxes

Option To Export Tax Reports

Freelancers who want to file taxes on their own (or use a different tax software) can export reports that they can use to file taxes on their own.

FlyFin Tax Notable Drawbacks

While FlyFin is a great product, there are a few drawbacks to using this app. These are a few things that freelancers should consider.

Must Upgrade To File Taxes

Freelancers who opt to use FlyFin Tax will have to upgrade to the Standard package to have tax filing included in their app cost. The Standard services cost $192 annually, more than $100 more than the $84 annual Basic plan.

No Mileage Trackers

FlyFin covers almost all aspects of freelance bookkeeping except tracking mileage. Freelancers will likely need to use an app like Everalnce or MileIQ to claim the appropriate deductions

Billed Annually

FlyFin is a bookkeeping service, but it includes annual tax filing. As a result, the company charges an annual fee. The large annual fee may take some freelancers by surprise.

FlyFin Tax Pricing And Plans

FlyFin posts its prices as monthly fees, but it charges customers annually. Once the 7-day free trial is complete, FlyFin customers will have to pay the full fee.

All plans include unlimited CPA advice regarding the deductibility of certain expenses. Users simply request a CPA review for an expense, add a few details, and receive an assessment from the CPA.

How Does FlyFin Compare?

FlyFin Tax provides full-service tax returns and bookkeeping, but its pricing is lower than the leading companies.

We’ve chosen to compare FlyFin Tax to full-service tax prep services, but the price is very close to the price of TurboTax Self-Employed.