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Magic MIS vs 1040kit

A side-by-side comparison built from both listings. Blank cells mean the company has not given that detail; we never guess.

Magic MIS compared with 1040kit
DetailMagic MIS logo Magic MIS1040kit logo 1040kit
What it doesTurn raw data into business insights Free AI tax software that reads your W-2 and 1099 forms, finds deductions you'd miss, and prepares your federal return
StageNot given Not given
FoundedNot given Not given
Based inIN US
Pricing modelPaid Free
PricingPrepaid credit packs: Solo Top-up $29 (1,100 credits), Starter $49 (2,000 credits), Plus $109 (5,000 credits plus 250 bonus), Growth $199 (10,000 credits plus 750 bonus), Practice $449 (25,000 credits plus 2,500 bonus), Firm $849 (50,000 credits plus 6,000 bonus), Scale $1,549 (100,000 credits plus Not given
Key features
  • Monthly MIS report and management accounts from trial balance with checked Excel workbook
  • Ledger mapping by rules first, then AI, remembered each month
  • Validation checks before delivery
  • Excel workbook with live formulas and lineage
  • Dashboard built and changed by chatting with undo
  • Chat that answers questions about figures linked to ledgers
  • AI commentary with figures computed by engine
  • Budget against actual and year-end forecast
  • File encryption with access logging
  • Support for any currency, scale and financial year
  • Automatic deduction discovery from bank and card statements
  • Home office and business mileage deductions
  • Qualified business income deduction calculation
  • Self-employed health insurance deduction
  • Documents remain on your computer
  • IRS rule citations for every line item
  • E-file free with IRS Free File Fillable Forms
  • Line-by-line calculation transparency
What makes it different
  • Every figure computed from books, never written by AI
  • Monthly mapping remembered, no rebuild required
  • Files encrypted with staff unable to access
  • Natural language dashboard building and querying
  • Full lineage and ledger transparency for every number
  • Finds deductions automatically in bank and card statements, not available in traditional tax software
  • All documents and returns stored locally on your computer with no cloud storage
  • Free with no paid upgrade tiers to unlock deductions
  • Completely transparent calculations with IRS rule citations for every line
  • No lengthy interview process required
Community votes00
DR (Domain Rating by Ahrefs)Not checked yet no change since last checkNot checked yet no change since last check
Trust Flow (Majestic)00
Citation Flow (Majestic)00
Referring domains (Majestic)00

5 details filled in for both companies.

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