Deduction’s Taylor, CPAI debuts with $2.8m funding

Deduction, a US-based FinTech specialising in AI-driven tax automation and human-CPA-supported services, has launched “Taylor, CPAI,” which it describes as the first AI tax accountant designed specifically for consumers.

The company has emerged from stealth alongside a $2.8m pre-seed funding round led by One Way Ventures and Creator Ventures, with participation from Alpine VC, Intuition, Charley Moore of Rocket Lawyer, and angel investors from OpenAI and Robinhood.

The launch of Taylor, CPAI comes as Deduction seeks to transform the way everyday taxpayers access accounting support. The company aims to bridge the gap between rising tax complexity and the growing shortage of CPAs, while offering a faster, more affordable alternative to traditional accountants.

The FinTech currently helps consumers communicate with Taylor, CPAI via call, text, chat, or email without the need for an app or lengthy questionnaires. The system automates document collection, proactive planning, return generation, and financial Q&A, while ensuring all critical steps are reviewed by human professionals.

Taylor, CPAI offers users fast answers, compliant filings, and proactive tax optimisation. It also identifies deductions and credits, sources documents such as W2s and 1099s, reads a wide variety of financial forms, and tracks tax-related events including RMDs and option exercises. All filings are overseen by licensed CPAs, and the platform includes a 100% guarantee against interest and penalties.

Deduction co-founder and CEO Sai Dhanak said, “Most AI tax tools are B2B, and focus on software for accountants and increasing margins. We built Deduction to radically improve the end-customer experience. With Taylor, CPAI, anyone can have a personal accountant, without the wait, the paperwork, or the high expense.”
Deduction co-founder and CTO Jonathank Kieliszak said, “The big consumer AI tools largely cater to users with very generalized tasks and needs. But a great accountant is highly specialized, refined and experienced, which is why Taylor is built alongside our human CPA team with specific guardrails and information sources to deliver trustworthy tax support.”

source [Fintech Global]