Home

Lili, the Small Business Banking Platform, Unveils New Data from Accountant AI: Over Half of Small Business Owners’ Questions Are About Taxes

via Business Wire

Insights reveal 52% of small business owners’ questions focus on tax structures and strategies to reduce their tax burden

Lili, the leading financial platform that offers business banking, credit building, and accounting solutions for small and mid-sized businesses, today announced new data from Lili’s Accountant AI that reveals that small business owners are most concerned about implementing the right tax structure and how they can save money on taxes. The data was pulled from over 1200 Lili customers.

Lili’s Accountant AI harnesses businesses' financial data and the latest industry information to provide business owners with personalized, instant recommendations about their businesses' finances. It provides personalized guidance based on a user’s unique banking and accounting activity, as well as patterns from similar businesses. Lili’s Accountant AI also responds to questions based on extensive training and the latest tax policy updates. The questions being asked reveal not only the challenges business owners face around taxes and cash flow, but also their expectation that their financial platforms deliver more—instant, personalized answers, integrated tools, and proactive guidance to help them make better business decisions.

The questions asked through Accountant AI reveal the issues keeping small business owners up at night. More than half (52%) of all questions were about taxes—whether it’s choosing the right tax structure, maximizing deductions, or legally lowering liabilities. Within that group, 27% of questions focused specifically on finding the best tax structure or maximizing deductions, underscoring the urgent need for clarity on how to optimize taxes.

Audit anxiety was also evident: about 16% of questions centered on audits, either understanding what triggers them or how to avoid one altogether. And nearly 20% of questions addressed raising capital, budgeting, or growing the business—showing that while taxes dominate concerns, business owners are also eager to plan for expansion and long-term success.

The top five questions that small business owners have asked Lili’s Accountant AI, include:

  • What is the best tax structure for my business?
  • How can I maximize deductions for my business
  • How can I minimize my business taxes legally?
  • What are my options for raising capital?
  • What triggers a business audit, and how can I prepare for it?

The questions are not surprising, since the NFIB released a survey in July reporting that nineteen percent of small business owners find that their taxes are their biggest problem. The last time the NFIB received that same feedback was in July 2021. NFIB Chief Economist Bill Dunkelberg states that “Small business optimism remained steady in June while uncertainty fell. Taxes remain the top issue on Main Street, but many others are still concerned about labor quality and high labor costs.”

“Our Accountant AI was built to give small business owners instant, personalized answers to their most pressing accounting questions—drawing directly from their own financial patterns,” says Lilac Bar David, co-founder and CEO of Lili. “It’s no surprise that more than half of all the questions we receive are about taxes, whether it’s structure, deductions, or compliance. This shows just how critical it is to provide AI-driven tools that not only save time but also give business owners the confidence to make smarter financial decisions.”

About Lili

Founded in 2019 by financial and tech industry veterans Lilac Bar David and Liran Zelkha, Lili is a financial platform designed specifically for businesses, offering a combination of advanced business banking with built-in accounting and credit building solutions to help business owners better streamline and simplify their finances. Backed by Group 11, Foundation Capital, AltaIR Capital, Primary Venture Partners, Torch Capital, Target Global and Zeev Ventures, Lili is headquartered in New York and serves customers in all 50 states. Banking services are provided by Sunrise Banks, N.A., Member FDIC. To learn more, visit lili.co.

Contacts