KT Masterpiece Flooring LLC

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KT Masterpiece Flooring LLC
Kristopher Torres · Owner
Active Tax Year
2025 · Current Year
Tax Year
2025 Current
Business Type
Single-Member LLC
Tax Preparer
Mike Foster
Status
In Progress
🤖
Sam
AI Business Assistant
🧾 Tax Advisory Team
Your AI-powered tax team — organized, accurate, Drake-ready
🤖
Sam
Tax Document Assistant
Organizes your documents into Drake-ready format
Specialty: Income categorization, expense sorting, deduction checklist
💬 Chat with Sam →
📊
IRIS
Tax Strategist
Maximizes deductions and identifies tax-saving opportunities
Specialty: QBI deduction, Section 179, home office, vehicle deductions, estimated payments
💬 Chat with IRIS →
📈
MARCUS
CPA Analyst
Prepares your financials in the format needed for filing
Specialty: P&L reconciliation, Schedule C prep, Drake data entry checklist
💬 Chat with MARCUS →
⚖️
LEX
Business Tax Counsel
Advises on business law, employment, and compliance
Specialty: LLC compliance, contractor vs employee classification, Kansas business law
💬 Chat with LEX →
🏛️
RIVER
Missouri State Tax Specialist
Navigates MO-1040, state deductions, and MO-specific credits
Specialty: Missouri Form MO-1040, 4.7% flat rate (2025), MO standard deductions, MO capital gains subtraction
💬 Chat with RIVER →
🏙️
KC
Kansas City Earnings Tax Specialist
Expert on KC's 1% earnings tax and electronic filing requirements
Specialty: KC 1% Earnings Tax, Form RD-108 (self-employed), Form RD-109 (wage earner), electronic filing (required Jan 2025)
💬 Chat with KC →
🤖
Sam
Tax Document Assistant
📋 Drake Data Entry Checklist — Schedule C ▼
⚠️ 2025 DEPENDENT CHANGE — ACTION REQUIRED
Alivia Torres — NOT claiming in 2025
Baby Caleb Torres — New dependent · Need full legal name + DOB
Line 1 — Gross receipts / sales
Line 10 — Commissions and fees
Line 11 — Contract labor (subcontractors)
Line 13 — Depreciation / Section 179
Line 15 — Insurance (GL/Auto/Umbrella)
Line 17 — Legal and professional
Line 18 — Office expense
Line 20a — Vehicle (miles driven)
Line 22 — Supplies / materials
Line 23 — Taxes and licenses
Line 24b — Meals (50%)
Line 25 — Utilities (internet)
Line 27b — Other expenses (phone/dues/uniforms)
Line 30 — Business use of home
Line 30 — Home office deduction
Net Profit / Loss
📋 MO & KC Tax Rules ▼
🇺🇸 Federal (2025 Updates) ▼
▶Standard mileage: 70¢/mile (up from 67¢ in 2024)
▶Section 179: Up to $2.5 million max deduction
▶Bonus depreciation: 100% for property placed in service after Jan 19, 2025
▶Self-employment tax: 15.3% on net profit (12.4% SS + 2.9% Medicare)
▶SE tax deduction: Deduct 50% of SE tax on Form 1040 Schedule 1
▶1099-NEC required: Any contractor paid $600+ during year
▶NAICS code for flooring: 238330 (Flooring Contractors)
▶New 2025 — No tax on qualified tips: Up to $25,000 — Schedule 1-A
▶New 2025 — No tax on qualified overtime: Up to $12,500 — Schedule 1-A
🏛️ Missouri State (2025) ▼
▶MO income tax rate: 4.7% on income over $9,191
▶MO standard deduction: $15,750 single / $31,500 married filing combined
▶MO return due: April 15, 2026 (extension: October 15, 2026)
▶MO capital gains: 100% subtraction allowed starting 2025
▶MO Form: MO-1040 — Schedule C net flows directly from federal return
▶MO self-employed health insurance: Deductible on MO return
🏙️ Kansas City Earnings Tax ▼
▶Rate: 1% flat on ALL income earned in or received from Kansas City
▶Self-employed: File Form RD-108 (Profits Return) — net profit × 1%
▶Employees: Form RD-109 (Wage Earner) — employer withholds
▶Electronic filing required as of January 1, 2025 — no paper returns accepted
▶Deadline: April 15 (same as federal)
▶Refund deadline: Must file by April 15 or denied
▶Use tax rate: 3.25%
▶Website: kcmo.gov/city-hall/departments/finance/tax-home
🔨 Flooring Contractor — Key Tax Notes ▼
▶Business type: Flooring installer/contractor — NAICS 238330
▶Materials vs. labor: Deduct flooring materials (Schedule C Line 22) AND subcontractor labor (Line 11)
▶1099-NEC: Required for any subcontractor paid $600+ — must issue by January 31
▶Vehicle deduction: Standard mileage (70¢/mile 2025) OR actual expenses — cannot switch methods mid-stream
▶Tools & equipment: Fully deductible same year under Section 179 (up to $2.5M limit)
▶Home office: Use Form 8829 OR simplified method ($5/sq ft, max 300 sq ft = $1,500 max)
▶Estimated taxes: Pay quarterly — April 15, June 16, Sept 15, Jan 15 — to avoid underpayment penalty
✨ Personal Assistant
Stay organized and on top of your business
🤖
Sam
Personal Assistant
🧠 Mastermind
Strategic thinking for your business
Tax Status
2025 In Progress
Est. Deductions
$60,881
Next Deadline
April 15, 2026
Items Pending
3
🧠
Sam
Mastermind Mode · Strategic Advisor
💡 Key Business Insights — 2025 Data
1
Your insurance costs ($8,628) are up from 2024 ($5,034). Consider shopping GL rates.
2
Contract labor ($2,156) is significantly lower than 2024 ($130,426). Verify all subcontractor 1099s are issued.
3
Equipment spending ($17,029) is your largest expense. Section 179 can expense all of this in year 1 — confirm with Mike.
🎯 Strategic Questions Before Filing
▶
Did you purchase any major equipment over $2,500? → Section 179 applies
▶
Did you use a vehicle exclusively for business? → Actual expense method may beat mileage rate
▶
Do you have a dedicated home office space used ONLY for business? → Form 8829
✅ My Tasks
Stay on top of what needs to get done
🔴 Tax Action Required
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📁 Documents
Your business documents, organized
📋 Tax Returns
📋
2024 Tax Return
Form 1040 + Schedule C · KT Masterpiece Flooring LLC
REFERENCE
📋
2025 Tax Return
In progress · Will be filed after year-end
IN PROGRESS
📂 2024 E-File Documents
🔨
KT Flooring — 2024 Annual Statement
Schedule C · Gross: $333,833 · Net: $141,291 · Miles: 20,265
✅ ON FILE
🏙️
KT Flooring — KC RD-105 (2024)
Kansas City Earnings Tax · Gross: $333,833 · Tax paid: $295.03
✅ FILED
👗
Kat's Poshmark — 2024 Annual Statement
Schedule C · Gross: $23,912 · Net: $18,215 · Shipping: $8,704
✅ ON FILE
🏙️
Kat's Poshmark — KC RD-108 (2024)
Kansas City Earnings Tax (Sched C) · Gross: $22,806 · Tax: $95.11
✅ FILED
🏙️
KT Flooring — KC RD-108 (2024)
KC Schedule C Earnings Tax · Net $134,961 · Tax: $1,349.61
✅ FILED
🇺🇸
2024 Federal & MO Tax Return
1040 Joint · Taxable income: $122,188 · Federal owed: $9,533
✅ E-FILED
📜
KCMO Business License — RD-100
KC Business License · KT Masterpiece Flooring LLC
✅ ON FILE
📊 2025 Supporting Tax Documents
📊
2025 TripLog Summary
Total deductions: $60,881.22 · Miles: $13,168.61 · Expenses: $47,712.61
✅ IMPORTED
🧾
2025 Expense Breakdown by Category
Equipment $17,029 · Insurance $8,628 · Dues $3,052 · Taxes $3,633
✅ IMPORTED
📋
2025 All Transactions (Detail)
Line-by-line expense log · 180+ transactions · Receipts linked
✅ ON FILE
🚗 Import from TripLog
📊
Business Expenses
TripLog CSV export — paste or upload year-end expense data
🚗
Mileage Report
TripLog mileage summary — business miles, deduction calculated
🧾
Expense Transactions
TripLog transaction detail — Sam confirms Schedule C categories
📁 Other Documents
📑
Tax Documents
W-2s, 1099s, receipts — year auto-detected from document
📃
Contracts
Client agreements, subcontractor contracts
🗂️
Business Records
LLC documents, licenses, insurance
📌 Document storage and AI analysis coming soon. For now, paste document content directly into chat with Sam.
🧾 Receipts
Capture and categorize business receipts
This Month
0
Est. Total
$0.00
Uncategorized
0
🚗 Mileage Tracker
Log business miles · 2025 rate: 70¢/mile
Total Business Miles
0
Standard Deduction
$0.00
TripLog Sync
Not synced
Tax Year
2025
Trip Log ▼
TripLog is the official record for your tax return. Use this tracker for real-time visibility.