Magnetic
AI Tax Preparer for CPA firms
Magnetic is active in the b2b space based in San Francisco, CA, USA.
Profile
Magnetic scans client documents - from handwritten charity notes to excel spreadsheet Schedule Cs to multi-state K-1s - and enters them into tax software automatically, saving hours of tedious data entry.
The accounting profession is facing a massive talent shortage, as graduates choose different professions and the old guard begins to retire. As a result, CPA and tax preparation firms are awash in clientele, but unable to keep up. At many firms, phones go unanswered, clients are "fired", and websites are taken down, as the existing workforce tries to handle the grueling 80 hour+ weeks necessary to push through tax season to the April 15th deadline.
We built this because a former colleague who owns her own tax firm asked us to automate her workload, and we quickly realized the massive opportunity. Thomas brings deep domain expertise as the former Head of Product at Keeper (YC W19), where he built tax engine automation systems and an OCR form scanning system that outperformed everything else on the market. At Keeper, he leveraged early access to OpenAI's LLMs (well before ChatGPT) to build systems that automated the entire tax filing process, allowing a tiny team of CPAs to process thousands of returns with near zero busy work. Patrick was the first engineer at FunCraft, shipping multiple mobile games with 1M+ downloads and building scalable shared codebases. We've worked
As a business in b2b, Magnetic is listed here with the public details available about it.
The company is recorded as being based in San Francisco, CA, USA.
Its current recorded stage is Summer 2025.
The company reports a headcount in the 10 range.
Directory analysis
Magnetic is a B2B AI‑powered tax preparer that scans client documents—from handwritten notes to complex spreadsheets—and automatically inputs the data into tax software, dramatically reducing manual entry time. The platform is designed for CPA and tax preparation firms struggling with talent shortages and high workloads during tax season. By automating routine data capture, Magnetic aims to improve efficiency and client service for accounting practices.
Positioning: Magnetic targets the niche of tax‑service firms seeking to streamline operations amid workforce constraints, positioning itself as a complementary tool to existing tax software. Its success will hinge on seamless integration, data accuracy, and compliance with tax regulations.
Note: Magnetic automates tax data entry to help CPA firms cut hours of manual work.
Auto-generated directory analysis from public data · updated 8 Oct 2026. Informational only, not investment advice.
| Sector | B2B |
|---|---|
| Headquarters | San Francisco, CA, USA |
| Country | USA |
| Employees | 10 |
| Stage | Summer 2025 |
Website: www.magnetictax.com
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