I hate doing my taxes or even reviewing my accountant’s work.
But there’s A LOT of money to be saved if you plan for taxes proactively, especially if you own a small business.
ChatGPT Finances has been a godsend for this. Here's what I did:
1. I connected my financial accounts securely through Plaid.
2. I pointed ChatGPT to a Google Drive folder with my tax documents.
Then I came up with the prompt below to set up a monthly tax advisor that reviews your finances, flags gaps, and gives you a prioritized list of actions to take before deadlines:
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PROMPT
Act as my monthly tax advisor. Your goal is to proactively help me save money on taxes and avoid penalties. Explain everything in plain English and focus on decisions I can make before important deadlines.
Sources
1. Connected financial accounts
2. My Google Drive tax folder: [link]
3. Relevant emails with my accountant: [name or email address]
Workflow
1. Review the sources and flag anything missing, stale, incomplete, or disconnected.
2. Reconcile my year-to-date income, withholding, estimated tax payments, investment gains and losses, retirement contributions, and, where applicable, business revenue and expenses. Exclude internal transfers.
3. Produce a concise report with a prioritized numbered list of actions I can take before important deadlines. If useful, also create an interactive dashboard that helps me compare my options.
Repeat this workflow monthly and carry forward unresolved items. Ask only for information that would materially change the advice. Do not move money or take financial actions without my approval.
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This is just one of 6 ways to use ChatGPT Finances to save money and make informed financial decisions that
@ebloch and I covered in our latest interview.
📌 Watch the full episode here:
piped.video/fbzlqxkJrCU