Investment Spotlight: TaxGPT, LA30

Americans spend six billion hours on tax filing per year, and tax inefficiencies cost $260B annually [Source]. Also, there is a shortage of 340K accountants in the US.

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‍TaxGPT is an AI tax assistant for personal taxes and businesses and an AI co-pilot for tax professionals.

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How it works:

• Users enter their tax questions into an AI chat box. For example, they can inquire about a tax credit for a dependent, medical care, or EVs.
• TaxGPT searches millions of tax documents from trusted sources (e.g., IRS rules, state tax laws and tax court judgments) and provides an answer citing the sources and including up-to-date information.
• Tax pros can use TaxGPT for research, memo-writing, and AI-powered client management tools.

The founder, Kashif Ali, was inspired to create TaxGPT out of frustration with a tax question he couldn’t answer after 30 minutes.

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Kash discovered LAUNCH through a tweet of Jason’s asking folks rejected by Y Combinator to email their application to yc@launch.co. Shortly after, he attended Founder University cohort 5 with his cofounder, Isabella Maceda-Ali.

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The MVP was launched 12 hours after ideation and crossed 500+ users in one week. The team was accepted into LAUNCH Accelerator cohort 30, and Kashif is now becoming credentialed as a tax preparer. TaxGPT has 10,000+ users, including 1000+ tax firms.

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If you're a builder-founder interested in fundraising and growth, we’d like to hear from you! We review applications on a rolling basis. Learn more and apply at https://www.launch.co/apply.

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