Tax Summary · 2023
Ka-Ching EngineForm 1040 & Schedule C glass engine · Bank-truth verified · D1 + SQLite sync
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TARGET REACHED: ZERO TAX LIABILITY ($0 OWED)
No federal taxes were withheld from W-2s in 2023, so the maximum federal refund is $0.00.
Schedule C deductions completely neutralized your $19,118.12 in 1099 self-employment income, bringing Self-Employment Tax and Income Tax down to $0.00.
You owe nothing federally, and you receive a $13.22 GA State Refund!
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Fixed external employer, client, & IRS inputsIncome Sources & Pre-Paid Withholding
| Payer / Source | Type | Gross | Fed Tax Paid | State |
|---|---|---|---|---|
| Natalie Meyer (Spavia) | W-2 | $1,013.19 | $0.00 | GA |
| Vayu Spa | 1099-NEC | $18,108.25 | $0.00 | — |
| Soothe Inc | 1099-NEC | $1,009.87 | $0.00 | — |
| Total Pre-Paid | 3 sources | $20,131.31 | $0.00 | $13.22 |
IRS Standard Allowances
Standard Deduction (Single):
$13,850.00
Standard Mileage Rate:
$0.655 / mile
Practice Miles Driven:
6,561.45 miles ($4,297.75)
Transaction Ledger Status
AUTHENTIC BANK TRUTH
1287 genuine bank transactions recorded for 2023.
Marked Deductible in Ledger: 891 transactions totaling $32,947.45.
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Computed Schedule C deductions & Form 1040 bottom lineSchedule C Business Deductions
Schedule C — Brian McAllorum LMT NMT
Code / Activity: lmtGross Income: $19,118.12
Net Profit: $10,155.31
| Category | Raw Spend | Rate | Deductible |
|---|---|---|---|
| Workspace | $8,760.00 | 100% | $8,760.00 |
| Supplies | $6,912.32 | 100% | $6,912.32 |
| Home Office | $9,339.29 | 1/3 | $3,113.08 |
| Equipment | $2,349.34 | 100% | $2,349.34 |
| Dining | $3,382.56 | 50% | $1,691.81 |
| Uniform | $1,656.78 | 100% | $1,656.78 |
| Hosting | $1,038.62 | 100% | $1,038.62 |
| Software | $835.08 | 100% | $835.08 |
| Phone | $621.07 | 100% | $621.07 |
| Subscription | $566.04 | 100% | $566.04 |
| Client Comfort | $505.78 | 100% | $505.78 |
| Electric Bill | $1,279.55 | 1/3 | $426.47 |
| Professional Fee | $243.06 | 100% | $243.06 |
| License | $204.49 | 100% | $204.49 |
| Cleaning Supplies | $134.91 | 100% | $134.91 |
| Insurance | $107.00 | 100% | $107.00 |
| Cloud Storage | $69.80 | 100% | $69.80 |
| Laundry | $37.78 | 100% | $37.78 |
| Total Expenses | $29,273.43 | ||
Self-Employment Tax (Schedule SE)
Net SE Profit:
$0.00
SE Tax Rate (92.35% × 15.3%):
$0.00
Deductible Half of SE Tax:
$0.00
Form 1040 Final Math
Adjusted Gross Income (AGI):
$9,142.12
Less Standard Deduction:
-$13,850.00
Taxable Income:
$0.00
Federal Income Tax Liability:
$0.00
Self-Employment Tax Liability:
$0.00
Total Tax Liability:
$0.00
Less Federal Withholding Paid:
-$0.00
Net Federal Refund:
$0.00 (Balanced)
Net State Refund:
+$13.22 Refund