Can AI do my taxes? It is the question of the year. “Laura, with all this new AI, can’t a computer just do my taxes now?”
The honest answer? Yes. If you have a single W-2, a standard deduction, and you don't plan on growing. Honestly? The AI will probably do a great job. It will even be faster than a human.
Yes. For straightforward filing, AI tax preparation tools are getting better fast.
But here is the distinction that matters for you:
Most of the people reading this don't just have a job. You have a Web of Income.
If you upload your documents to an AI, it treats each one as a separate math problem. It calculates Business A. Then it calculates Business B.
It doesn't understand (yet) that:
If you’re building (or scaling) a multi-entity plan, this is where “preparation” ends and strategy begins. (If you want an example of what proactive planning looks like, read: Essential Tax Strategy for Business Owners.)
And finally, the most important part: If I sign your return, I put my license, my reputation, and my liability insurance on the line. I stand between you and the IRS.
If ChatGPT messes up your return? It doesn't go to audit. You do.
And yes—this principle is broader than AI. The IRS is explicit that you’re ultimately accountable for the accuracy of what’s on your return, even when someone else helps prepare it.
But Laura, isn't AI getting smarter? Won't it be able to strategize soon?
The answer is yes. We are rapidly approaching the “Simulator Era.” And honestly? That scares me even more than the Calculator Era.
I’ll explain why in a follow-up.
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Here’s to protecting your wealth,
Laura