Tax Summary

The Tax Summary report gives you a high-level tax planning view of your year. It combines income, expenses, mileage, and estimated tax numbers so you can see the bigger picture before filing.

Who this is for

This report is for teachers and organization admins who want a year-end tax planning summary.

What data it generates

The report includes:

• recorded payment income
• paid event income
• non-mileage expenses
• mileage entries
• gross revenue
• net income
• estimated self-employment tax
• estimated income tax if your tax rates are configured
• estimated total tax
• recommended quarterly payment amount
• quarterly revenue and expense summaries
• top expense categories
• an estimated mileage deduction

How to use it

Open Tax Summary from the Business Reports area and choose the year you want to review.

You can:

• view the full year
• open the PDF in a new tab
• download the PDF
• download the CSV

What the report means

The Tax Summary report is built from recorded activity, not projected invoices.

It uses:

• payment transactions for income
• paid events for income
• expenses for deductions
• mileage for deduction planning

It also estimates self-employment tax using the current wage-base logic in the app and adds an income-tax set-aside if tax rates have been configured in your environment.

What you will see in the report

The report shows:

• year-wide summary totals
• quarterly net income and estimated quarterly payments
• due dates for estimated tax payments
• a snapshot of the biggest deduction categories
• an estimated mileage deduction based on recorded miles and the configured mileage rate

Best practice

Use this report when you want a planning tool, not just a ledger. It is especially useful before quarterly estimated tax payments or at the end of the year when you want a fast summary of business finances.

Related reports

• Revenue Summary
• Expense Summary
• Mileage Tracking
• Estimated Quarterly Tax Report
• Tax Filing Preparation