# Magnetic Review: Pricing, Features, Alternatives Magnetic: Outsourced 1040 preparation where AI does the entry and a US credentialed reviewer checks it. Pricing from On request, SOC 2 unconfirmed, and how it compares to the alternatives, for US accounting and bookkeeping firms. Source: https://node8.ai/accounting-tools/tax-workflow/magnetic/ --- [Accounting Tools](https://node8.ai/accounting-tools/) · [Tax Workflow & Document Automation](https://node8.ai/accounting-tools/tax-workflow/) # Magnetic One to Watch · Magnetic Outsourced 1040 preparation where AI does the entry and a US credentialed reviewer checks it [Visit Magnetic](https://www.magnetictax.com/) [All 26 tax workflow & document automation tools](https://node8.ai/accounting-tools/tax-workflow/) Best for Small 1040 practices buying capacity for a season rather than software to run themselves Starting price On request SOC 2 Unconfirmed Multi-factor auth Unconfirmed The read ## What Magnetic does Buying preparation capacity, not software, is what is on offer here. A firm sends in the client's documents, an agentic AI system reads them and applies the figures to the return, an automated check compares the entered values back to the sources, and a credentialed US-based CPA or Enrolled Agent reviews every return before it goes back. The output is a prepared return inside the firm's own tax engine plus workpapers carrying flags and notes on anything that looks missing. Accepted inputs are deliberately messy: PDFs, spreadsheets, TIFFs, photographs, handwritten organizers and receipts, along with multi-state K-1s and profit and loss schedules. On the two axes that separate these tools, Magnetic sits at one extreme. The human verification queue is not a sample, it is every return, and the reviewers are named as US-credentialed with active PTINs, which is a stronger claim than the offshore review most outsourcing arrangements run on. Data goes into the tax engine rather than into a bookmarked PDF, so the preparer starts at review. Security is stated as AES-256 in transit and at rest, US-only servers, and no model training on taxpayer data. Setup is described as five minutes through a portal, and the accuracy claim is 99.9 percent at field level with a guarantee that inaccurate work is free. What cannot be checked is most of the rest. The site says data is entered directly into five of the leading tax engines and does not name one of them, which is the single most important fact for a firm deciding whether this works with Drake or UltraTax. No price appears anywhere, in any unit, so the difference between 200 returns and 1,500 cannot be modelled at all. No turnaround time is committed to, which for a service model in March is the constraint that matters most. There is no SOC 2 claim, no trust centre, no security page, no named leadership, no stated headquarters and no blog or changelog. The whole public presence is a single-page site. Scale is early by the vendor's own account: 60 or so firms onboarded, against 350 for Soraban and thousands for SafeSend. Time saved is put at 77 percent per return. Those numbers are consistent with a young company doing real work, and nothing here reads as vapour, but a firm cannot do due diligence on a one-page website before handing over a season of client data. The comparison worth drawing is with Juno, which is the mirror image. Juno publishes its per-return price, names its write-back targets, and states explicitly that no one on its side ever reviews the data, so the firm supplies the second pair of eyes. Magnetic supplies the reviewer and publishes neither the price nor the engines. Firms short on staff rather than short on time should prefer the Magnetic shape; firms with reviewers but no data entry capacity should prefer Juno's. Against Soraban and the fuller workflow tools, Magnetic covers only preparation, with no intake, delivery, 8879 signing or K-1 distribution. One to watch is the right tier and stays. The proposition is well constructed and the human review model is genuinely differentiated, but sixty firms, an unnamed integration list, no published price and no security documentation is not enough to commit a busy season to. Capabilities ## What you get Extraction across PDFs, spreadsheets, TIFFs, photographs and handwritten organizers Data entered directly into the firm's tax engine rather than returned as a file Every return reviewed by a US-based CPA or Enrolled Agent with a verified PTIN Automated final check comparing entered figures back to the source documents Workpapers returned with flags and notes on items that appear to be missing Pricing, security, integrations ## What it costs and what it connects to The vendor does not publish a price for Magnetic; it is quoted per firm, usually on firm size or entity count. We could not confirm a SOC 2 report for Magnetic from public sources. Ask the vendor directly before it touches client data — an absence here means unverified, not absent. Magnetic does not integrate directly with a general ledger. [Vendor pricing page](https://www.magnetictax.com/) Our rating ## Why we rate Magnetic a One to Watch Magnetic is rated One to Watch, alongside 12 other of the 26 tax workflow & document automation tools in this directory. Early or unproven at firm scale. Often genuinely interesting technology without the track record, support depth, or install base to bet a busy season on yet. [How these ratings are decided](https://node8.ai/accounting-tools/methodology/). Alternatives ## Magnetic alternatives ### [Juno](https://node8.ai/accounting-tools/tax-workflow/juno/) Per-return tax prep automation that extracts documents and pushes data into the tax program Strong Option ### [Black Ore](https://node8.ai/accounting-tools/tax-workflow/black-ore/) AI 1040 preparation that builds binders, drafts returns and exports into nine tax programs One to Watch ### [Soraban](https://node8.ai/accounting-tools/tax-workflow/soraban/) Client intake, workpapers, tax software write-back and return delivery in one product Top Pick ### [1040SCAN](https://node8.ai/accounting-tools/tax-workflow/1040scan/) Scan-and-populate OCR that turns 1040 source documents into workpapers and tax software input Dated ### [CTRL+Filing](https://node8.ai/accounting-tools/tax-workflow/ctrl-plus-filing/) Practice workflow and document classification for tax firms, currently integrating only with CCH Axcess One to Watch ### [FlyFin](https://node8.ai/accounting-tools/tax-workflow/flyfin/) Consumer AI tax filing service for the self-employed, with an outsourced preparation offer for firms One to Watch [Compare all 26 tax workflow & document automation tools](https://node8.ai/accounting-tools/tax-workflow/) Sources ## Where these facts came from Researched from public sources. Pricing and security claims change without notice, so check the vendor before you buy. Last reviewed September 8, 2026. ### [Magnetic homepage](https://www.magnetictax.com/) Retrieved 2026-09-08 Keep browsing ## Other categories [Practice Management (49)](https://node8.ai/accounting-tools/practice-management/)[General Ledger & Bookkeeping (26)](https://node8.ai/accounting-tools/general-ledger/)[Payroll & PEO (19)](https://node8.ai/accounting-tools/payroll/)[Tax Preparation (18)](https://node8.ai/accounting-tools/tax-preparation/)[Tax Planning & Advisory (13)](https://node8.ai/accounting-tools/tax-planning/)[Tax Research (13)](https://node8.ai/accounting-tools/tax-research/)[Month-End Close Automation (11)](https://node8.ai/accounting-tools/close-automation/)[Proposals & Engagement Letters (9)](https://node8.ai/accounting-tools/proposals-engagement/)[Spreadsheet Reporting & Ledger Sync (6)](https://node8.ai/accounting-tools/spreadsheet-reporting/)[Tax Resolution & IRS Representation (6)](https://node8.ai/accounting-tools/tax-resolution/)[AI Meeting Assistants (5)](https://node8.ai/accounting-tools/meeting-assistants/) ## Got the stack, still doing the work by hand? 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