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April 15 is right around the corner. If you're still staring at a pile of receipts and statements, you might be tempted to look for a shortcut — and with AI tools like ChatGPT and Claude more accessible than ever, it's natural to wonder: Can AI help me with my taxes?
The short answer: With Caution. Here are a few tips from your local Fractional AI Strategist on how to partner with AI safely and smartly this tax season.
1. AI is not your CPA.
This is the big one. AI is a brilliant organizing partner — it can help you categorize expenses, spot patterns, and pull together a clean summary of your finances. But it is not a licensed tax professional, and it should never be treated as one. Think of AI as your prep partner, not your preparer. Use it to get organized, then hand your clean package to a real CPA or tax professional for the final return.
2. Turn off model training before you start.
Most AI platforms have a setting that allows your conversations to be used to improve the model. Before you upload anything financial, go into your settings and turn that off. In ChatGPT, it's under Data Controls. In Claude, you can use Incognito Conversations. This keeps your financial information from being used as training data.
3. Redact your sensitive information.
Before you share any documents with AI, remove or mask the following:
Social Security numbers (yours, your spouse's, and your dependents')
Employer Identification Numbers (EINs)
Bank account and routing numbers
Credit and debit card numbers
Dates of birth
Driver's license numbers
Home addresses
Investment or brokerage account numbers
Insurance policy numbers
Legal case numbers
Any login credentials, PINs, or passwords
You can leave the last four digits of account numbers to keep things organized — just don't share the full numbers.
4. Let AI help you organize, not decide.
AI is great at reading through transaction histories, grouping expenses into categories (office supplies, software subscriptions, meals, professional development, etc.), and building a consolidated view of your income and expenses. That's the tedious part most of us dread — and it's exactly what AI does well.
5. Check the work in stages.
Oprah once said, “Always sign your own checks,” meaning at the end of the day, there are some tasks you don’t delegate to anyone else, especially when it comes to money. You can partner with AI, but don’t outsource your thinking. Don't dump everything in and blindly trust the output. Work in steps — upload one statement at a time, review the categories, confirm what looks right, and flag what doesn't. If a number doesn't match what you know to be true, stop and verify. AI is fast, but you are the one who knows your numbers.
6. Not ready yet? Practice for next year.
If you're not already comfortable partnering with AI for financial tasks, this might not be the year to go all in — and that's okay. You can start practicing now. Use AI to organize one month of expenses. Get a feel for what it can do. Set a monthly calendar reminder to categorize your transactions so you're not facing the springtime dread next year. Future you will be grateful.
This article is for informational purposes only and does not constitute tax, legal, or financial advice. Always consult a licensed tax professional for your specific situation.
Elana Etten is the founder of Identity Marketing U.S. and a Fractional AI Strategist based in Chapel Hill. She helps small businesses and teams work with AI as partners — not replacements. Have questions about how AI can help your business? Email her at [email protected] or call (984) 231-2554 to set up a consultation. You can visit Identity Marketing US at automatewithidmus.com