1099 WORKERS CAN NOW USE ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING TO HELP WITH EXPENSES AND DEDUCTIONS
You may not be familiar with companies that combine financial services with technologies called fintech companies. According to one such company, FlyFin (https://flyfin.tax/), 1099 individuals can benefit from using their tax calculator to help track expenses and deductions and categorize them. Their app is free and takes about 15 minutes to set up. The app uses artificial intelligence and machine learning to help calculate taxes by quarter and yearly time periods. Artificial intelligence helps automated systems perform tasks previously requiring human involvement, while machine learning adapts to information using algorithms and data to learn as a human would. At the time of this writing, FlyFin's app had 4.4 stars in the Apple App Store. The Google Play Store showed 4 Stars with over 10,000 downloads.
PRNewswire (03-21-2022). Retrieved from FlyFin Unveils Free 1099 Tax Calculator To Help Filers with Self-Employment Tax (prnewswire.com)