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Tax Summary · 2024

Ka-Ching Engine

Form 1040 & Schedule C glass engine · Bank-truth verified · D1 + SQLite sync

Ledger (1230 txns) →
2023 Summary 2024 Summary 2025 Summary 💰 (Refund Anchor)
★ Maximum Cash Refund Target
+$1,626.68 Refund
Federal: +$1,035.29 Refund | State: +$591.39 Refund | Total Withheld: $1,783.20
100% Tax Return Target: LOCKED 🔒
Filing Status: Single · Tax Year: 2024
🎯

TARGET REACHED: MAXIMUM REFUND LOCKED

All $1,035.29 Federal and $591.39 SC State withheld taxes are returned. Deductions offset self-employment profits so your tax liability was eliminated. Further deductions will yield $0.00 extra refund.

{INPUT-TAX-NUMBERS}

Fixed external employer, client, & IRS inputs
EXTERNAL TRUTH

Income Sources & Pre-Paid Withholding

Payer / Source Type Gross Fed Tax Paid State
Hilton Head Island Spa & Wellness W-2 $11,070.50 $1,191.81 SC
Joyful Massage Day Spa LLC 1099-NEC $35,430.10 $0.00 —
Total Pre-Paid 2 sources $46,500.60 $1,191.81 $591.39

IRS Standard Allowances

Standard Deduction (Single): $14,600.00
Standard Mileage Rate: $0.670 / mile
Practice Miles Driven: 9,312.69 miles ($6,239.50)
Transaction Ledger Status AUTHENTIC BANK TRUTH
1230 genuine bank transactions recorded for 2024.
Marked Deductible in Ledger: 641 transactions totaling $32,527.66.

{SUMMARY-TAX-NUMBERS}

Computed Schedule C deductions & Form 1040 bottom line
LIVE COMPUTED

Schedule C Business Deductions

Schedule C — Brian McAllorum LMT NMT

Code / Activity: lmt
Gross Income: $35,888.10
Net Profit: $1,107.72
Category Raw Spend Rate Deductible
Workspace $13,245.53 100% $13,245.53
Supplies $8,264.58 100% $8,264.58
Equipment $3,137.96 100% $3,137.96
Dining $6,011.99 50% $3,006.63
Client Comfort $2,030.89 100% $2,030.89
Software $1,296.59 100% $1,296.59
Phone $854.03 100% $854.03
Subscription $587.64 100% $587.64
Home Office $1,455.88 1/3 $485.28
Uniform $477.94 100% $477.94
Hosting $434.03 100% $434.03
Electric Bill $1,045.60 1/3 $348.49
License $194.99 100% $194.99
Transportation $100.00 100% $100.00
Cleaning Supplies $82.07 100% $82.07
Insurance $79.35 100% $79.35
Shipping $67.62 100% $67.62
Professional Membership $46.27 100% $46.27
Education $17.00 100% $17.00
Travel $15.01 100% $15.01
Cloud Storage $8.48 100% $8.48
Total Expenses $34,780.38

Self-Employment Tax (Schedule SE)

Net SE Profit: $1,022.98
SE Tax Rate (92.35% × 15.3%): $156.52
Deductible Half of SE Tax: $78.26

Form 1040 Final Math

Adjusted Gross Income (AGI): $12,099.96
Less Standard Deduction: -$14,600.00
Taxable Income: $0.00
Federal Income Tax Liability: $0.00
Self-Employment Tax Liability: $156.52
Total Tax Liability: $156.52
Less Federal Withholding Paid: -$1,191.81
Net Federal Refund: +$1,035.29 Refund
Net State Refund: +$591.39 Refund