Magnetic
Automated tax preparation platform that scans client documents and enters data directly into existing tax software.
What is Magnetic?
Magnetic is a specialized tax preparation automation platform designed to eliminate manual data entry for tax professionals. The platform uses advanced OCR technology combined with intelligent recognition systems to scan, extract, and automatically enter client document data into existing tax software. Supporting over 94 different document types with 99.8% accuracy, Magnetic integrates seamlessly with major tax software providers including Thompson Reuters, Intuit, Wolters Kluwer, and Drake. The platform handles everything from document organization to form entry, allowing tax professionals to focus on client relationships rather than repetitive manual work.
Compare with Alternatives
| Feature | Magnetic | Routable | Tributi | Soraban |
|---|---|---|---|---|
| Rating | 0.0 | 0.0 | 0.0 | 0.0 |
| Pricing | Paid | Paid | Paid | Paid |
| Starting From | — | — | — | — |
| API | — | — | — | — |
| Free Tier | — | — | — | — |
| Mobile App | — | — | — | — |
Who is it for
High-Volume Tax Firms
Large tax preparation firms can process hundreds of returns more efficiently by eliminating manual data entry bottlenecks during busy tax seasons.
Boutique Tax Practices
Small firms handling complex returns for high-net-worth clients can maintain quality while scaling operations without additional administrative staff.
CPA Firms with Staff Shortages
Practices facing the industry-wide CPA shortage can maintain capacity by automating time-consuming document processing tasks.
Tax Professionals Seeking Work-Life Balance
Individual practitioners can reduce overtime and burnout by automating repetitive tasks while maintaining accuracy and client service quality.