Insurance
1 technical briefing from 1 company building insurance infrastructure.
Alex Cram
Abound demos the tax-automation APIs behind freelancer banking apps like Lance — built on the thesis of "what if the IRS shipped a REST API." Four core products cover the self-employed tax stack: year-to-date federal/state/self-employment tax calculation, tax payments with 100% federal/state/DC coverage, transaction prediction (personal vs. business, deduction category), and end-of-year form generation (1099, Schedule C). The demo shows how Abound sits on top of Unit BaaS: when a Lance user opens a Unit account, Abound automatically registers them on its tax ledger using Unit\'s KYC data and auto-creates a payment method from the Unit account and routing numbers. Every debit and credit on the Unit ledger flows to Abound, which recalculates taxes in real time — income marked 1099 adds to the marginal/effective rate breakdown; business expenses categorized as commission deduct accordingly; a personal Apple Store purchase is flagged by the prediction engine as non-deductible. Abound returns a "smart tax rate" that Lance uses to set aside taxes from every deposit, and the tax-payment API remits $887 to the IRS on April 15 with a full created → pending → done lifecycle.