We're giving a billion hours back to tax professionals

Tax professionals shouldn’t spend their days copying numbers into boxes.

The tax prep industry is built on trust, expertise, and precision. But every year, tens of thousands of CPAs and tax professionals burn their busiest season on tedious, manual work—sorting PDFs, hunting for data across 1040s, W-2s, 1099s, and inputting it line-by-line into outdated tax software. This is not why they got into the profession.

Technology promised efficiency, but in practice, most "solutions" just digitized the clutter. Document portals didn’t eliminate paperwork. OCR didn’t understand the nuance of tax forms. And AI—until now—wasn’t trustworthy enough to be part of a real workflow.

Magnetic is changing that.

We’re building the first U.S.-based AI-powered data extraction platform purpose-built for tax professionals. By combining cutting-edge vision-language models with deep domain knowledge of tax documents, we automate the organization and entry of client forms—accurately, securely, and at scale.

Our goal is simple: free up tax professionals from the rote work so they can focus on what matters—strategic advice, planning, and building long-term client relationships.

The next decade of tax is not about automation for automation’s sake. It’s about amplifying the people who do the work.

We’re building Magnetic to be the AI teammate every tax firm deserves. Now is the time to modernize the backbone of American small business finance.