Neo.Tax Company Market Research Report

Company Overview

Name: Neo.Tax

Mission: To simplify and automate taxes for startups and businesses, turning taxes into a strategic advantage by leveraging AI.

Founding Information:

• No information is available on when the company was founded or by whom.

Key People:

• Ibrahim - CEO and Cofounder. Former Intuit QuickBooks product manager.

• Firas Abuzaid - CTO. Holds a Stanford PhD focusing on AI automation.

Headquarters: No information is available on where the company is headquartered.

Number of Employees: No information is available.

Revenue: No information is available.

Known For: Neo.Tax is known for optimizing R&D tax credits and software capitalization using AI to streamline tax processes. They offer a unique solution that connects to platforms such as Github and Jira to automate the identification and categorization of R&D expenses for tax credit purposes.

Products and Services

Overview

Neo.Tax offers products primarily focused on simplifying and automating tax processes for startups and businesses, particularly in the realm of R&D tax credits and software capitalization.

Main Products and Their Features

1. R&D Tax Credit Platform

• Description: Helps users automate the preparation of R&D Tax Credits both at the federal and state levels.

• Key Features:

• Integration with payroll and accounting software such as Gusto, Trinet, Justworks, Rippling, and QuickBooks for seamless expense tracking.

• AI-driven process to eliminate the need for manual interviews and reduce human errors.

• Automated identification of qualifying R&D activities and expenses.

2. Software Capitalization Solution

• Description: Supports the capitalization and amortization of software costs in compliance with ASC 350-40.

• Key Features:

• Automatic classification and capitalization of R&D expenses over prescribed periods.

• Integrates with existing financial systems to streamline data input and analysis.

3. Combined R&D Credit and Capitalization Solution

• Description: Provides an end-to-end solution for managing both R&D tax credits and capitalization effectively.

• Key Features:

• Unified platform to manage tax credits and cashflows from capitalization.

• Scenario planning and optimization tools for maximizing tax outcomes.

Recent Developments

• New Product Launches:

• Neo.Tax 2023: A platform update to address changes in federal tax codes and optimize R&D deductions (Launched February 14, 2023).

• New Partnerships:

• Neo.Tax has partnered with Bench to offer a comprehensive 360° tax solution combining tax optimization with bookkeeping services. This partnership enhances the offering for businesses by providing combined R&D filing and capitalization services (Announced March 15, 2023).

• Product Recognition:

• Neo.Tax was named a Top FinTech Product in the 2023 Product Awards by Products That Count, recognizing its excellence in providing a comprehensive R&D expenditures view and its contribution to innovation in product management.

• Software Updates:

• Expanded integration capabilities to include more accounting and payroll software systems (Announced March 8, 2022). This expands user access to automate data intake for tax calculations.

No information is available regarding any new features added to existing products beyond the general product descriptions and updates listed above.

This concludes the detailed market research report on Neo.Tax with an emphasis on available company's data and structured insights into their operations, offerings, and strategic developments.