2025 Federal Tax Return — CPA Handoff
Prepared for: John A. Magliano Jr, CPA Phone: 813-690-1221 Mailing Address: PO Box 15717, Tampa FL 33684 EIN: 46-2062733
Filing Status: Married Filing Jointly Tax Year: 2025 State Return: None (Florida)
Taxpayer Information
| Taxpayer | Spouse | |
|---|---|---|
| Name | Benjamin A. Wilson | Michelle M. Wilson |
| SSN (last 4) | 4122 | 2360 |
Dependent:
- Sophia M. Wilson — DOB: February 16, 2023 — SSN (last 4): 8571
- Relationship: Daughter
- Lived with taxpayers all year
Documents Provided
Files are located in the tax-prep folder delivered with this document.
W-2s
Ben Wilson — Ray Data LLC (EIN 87-4413391)
- File:
w2-bw.pdf - Wages: $57,500.00
- Federal income tax withheld: $4,946.38
- File:
Michelle Wilson — Perez Eye Center
- 2025 W-2 NOT YET RECEIVED
- 2024 figures for reference only: $118,750.06 wages / $18,038.54 withheld
- Do not use 2024 figures to file — update when 2025 W-2 arrives
S-Corp / Business (Ray Data LLC)
- Form 1120-S — filed by Collective HUB (Jordan Kirkey) —
2025-rdco-business-taxes.pdf - Form 8879 (S-Corp) —
8879-corp-business-taxes.pdf - Schedule K-1 — included in above
- Box 1 — Ordinary business income: $101,443
- Box 12a — Charitable contributions: $30
- Box 16c — Nondeductible expenses: $4,592
- Box 16d — Distributions: $89,866
- 1099-NEC from Mammoth Growth LLC —
1099-nec-mammoth-growth.pdf- Amount: $201,396 (paid to Ray Data LLC — flows through S-Corp, already reflected in K-1; no separate Schedule C entry needed)
- MacBook Pro M4 — Section 179 depreciation: $4,259 (already reflected in S-Corp return)
Self-Employed Health Insurance (SEHI)
- Medi-Share health sharing ministry — 12 share notices + payment records provided
- Verified 2025 SEHI total from payment records: $9,425.00 (12 payments made in calendar year 2025)
- Jan–May 2025: $753/mo × 5 = $3,765
- Jun 2025 (check): $773
- Jun 2025 (AutoPay): $753
- Jul–Aug 2025: $753/mo × 2 = $1,506
- Sep–Nov 2025: $876/mo × 3 = $2,628
- Total: $9,425.00
- Note: Dec 30, 2024 payment of $755 is a 2024 expense (not included in 2025 total)
- Founder initially stated $9,425 — actual verified amount from payment records is $9,425
Investment / Brokerage 1099s
All 1099s provided. Note: Two copies of the Chase 1099-INT (Michelle) were included — they are exact duplicates; count only once.
| Account | Owner | File | Ord Divs | Qual Divs | Interest | Cap Gain/Loss | Foreign Tax | Exempt-Int Divs | Sec 199A Divs |
|---|---|---|---|---|---|---|---|---|---|
| Wealthfront Brokerage (8W14YTCT) | Ben | 1099-wf-bw-1.pdf |
$19.94 | — | — | -$109.01 ST | — | — | — |
| Wealthfront Brokerage (8W1067NV) | Ben | 1099-wf-bw-2.pdf |
$10.25 | — | — | — | — | — | — |
| Wealthfront Brokerage (8W108343) | Ben | 1099-wf-bw-3.pdf |
$4,071.54 | $2,220.86 | — | -$253.78 net | $152.21 | $4.12 | $48.96 |
| Wealthfront Cash (8W539966) | Ben/Michelle (joint) | 1099-cash-wf-bw.pdf |
— | — | $1,932.96 | — | — | — | — |
| Wealthfront Brokerage (8W286673) | Michelle | 1099-wf-mw.pdf |
$729.39 | $516.68 | — | -$155.28 net | $32.63 | $186.87 | $8.73 |
| Charles Schwab (5373-5670) | Ben/Michelle (joint) | 1099-int-schwab-bw.PDF |
$12.59 | $12.59 | $0.13 | — | — | — | — |
| Chase Savings (122705370) | Michelle | 1099-int-chase-mw.pdf |
— | — | $1.02 | — | — | — | — |
| Chase (backup withholding) | Michelle | same | — | — | — | — | — | — | — |
Backup withholding (Chase): $0.19
Aggregated totals across all accounts:
| Category | Amount |
|---|---|
| Total ordinary dividends | $4,843.71 |
| Total qualified dividends | $2,772.93 |
| Total interest | $1,934.11 |
| Total exempt-interest dividends | $190.99 |
| Total Section 199A dividends | $57.69 |
| Total net capital loss | -$518.07 |
| Total foreign tax paid | $184.96 |
| Backup withholding | $0.19 |
No wash sales identified on any account.
Note: In 2024 you classified the Wealthfront savings interest as dividends on Schedule B — same approach may apply in 2025.
Estimated Tax Payments (IRS Direct Pay)
| Quarter | Date Paid | Amount | Confirmation # |
|---|---|---|---|
| Q1 | April 14, 2025 | $3,900 | 222-5505-6341-9538 |
| Q2 | June 5, 2025 | $3,900 | 222-5557-6458-9879 |
| Q3 | — | NOT PAID | — |
| Q4 | December 23, 2025 | $5,000 | 222-5758-6061-4708 |
| Total | $12,800 |
Files: 1040ES-Q1-2025.pdf, 1040ES-Q2-2025.pdf, 1040ES-Q4-2025.pdf
Charitable Contributions
- Christ the King Catholic Church —
CTK-charitable-contributions.pdf- Account #3766
- Amount: $3,105.00
- No goods or services received in exchange
- Ray Data LLC (K-1 Box 12a): $30 (flows through S-Corp return)
- Total personal charitable: $3,135
Dependent Care (Form 2441) — NEW for 2025
- Small Blessings Preschool —
small-blessings-tuition-2025.pdf- Dependent: Sophia M. Wilson (age 2 in 2025)
- Provider address: 500 W. Platt Street, Tampa FL 33606
- Provider Tax ID: 59-0714823
- Qualifying expenses (tuition + registration + supply fee): ~$2,942
- Estimated credit at 20% rate (MFJ AGI): ~$588
- Sophia qualifies — under age 13, lived with taxpayers all year
Missing Documents — Action Items
The following documents must be collected before the return can be finalized:
- Michelle Wilson 2025 W-2 — Perez Eye Center (required to file)
- Form 1098 mortgage interest — Rocket Mortgage (Nationstar d/b/a Mr. Cooper), Loan #0705087542: Box 1 mortgage interest = $16,582.82, Box 2 outstanding principal = $432,835.11, origination 06/12/2019. Property taxes disbursed from escrow: $10,257.65. Hazard insurance: $11,169.00.
- Medi-Share payment records — verified from payment history: $9,425 total for 2025
-
Form 1095-B— not needed (informational only, no premium tax credit)
-
- Escrow / property tax — $10,257.65 from 1098 escrow statement (moot — standard deduction wins)
Deduction Analysis
Standard vs. Itemized
| Item | Estimated Amount |
|---|---|
| Mortgage interest (Rocket Mortgage 1098, Box 1) | $16,582.82 |
| Property taxes | ~$9,500 est. |
| Charitable contributions | $3,135 |
| Estimated itemized total | ~$28,635–$29,635 |
| Standard deduction (MFJ 2025) | $30,000 |
Standard deduction wins by $282. Itemized total with SALT cap: $16,582.82 (mortgage) + $10,000 (property tax, SALT capped from $10,257.65) + $3,135 (charitable) = $29,717.82 vs. $30,000 standard. Consistent with 2024.
QBI Deduction (Section 199A)
- QBI from S-Corp (K-1 Box 1): $101,443
- Less SEHI deduction: $9,425 (verified from payment records)
- Net QBI: ~$92,136
- QBI deduction (20%): ~$18,427
- Section 199A dividends: $57.69 × 20% = ~$12
- Total estimated Section 199A deduction: ~$18,439
- Taxpayer is well below the $383,900 MFJ income limitation for 2025 — W-2 wage limitation does not apply
- W-2 wages paid by S-Corp: $57,500 (documented if needed for wage test)
Self-Employed Health Insurance Deduction
- Use confirmed 2025 SEHI amount once reconciled with taxpayer
- Medi-Share qualifies as SEHI per IRS guidance applicable to health sharing ministries
- Deduction taken on Schedule 1, not Schedule A
Preliminary Tax Estimate
Note: Uses Michelle's 2024 W-2 as a stand-in. Will change materially once 2025 W-2 is provided.
| Line Item | Amount |
|---|---|
| Ben W-2 wages | $57,500 |
| Michelle W-2 wages (2024 proxy) | $118,750 |
| S-Corp K-1 ordinary income | $101,443 |
| Investment income (net) | ~$6,260 |
| Less: SEHI deduction | -$9,425 |
| Less: QBI deduction | -$18,415 |
| Less: Standard deduction | -$30,000 |
| Estimated taxable income | ~$226,113 |
| Estimated federal tax | ~$36,930 |
| Less: Estimated tax payments | -$12,800 |
| Less: Ben W-2 withholding | -$4,946 |
| Less: Michelle withholding (2024 proxy) | -$18,038 |
| Less: Backup withholding (Chase) | -$0.19 |
| Less: Foreign tax credit | -$184.96 |
| Less: Dependent care credit | -$588 |
| Estimated amount owed | ~$1,145 |
This estimate will shift once Michelle's actual 2025 W-2 is in hand.
2024 Return Comparison Notes
These notes are for CPA reference — same preparer, same return.
| Item | 2024 | 2025 |
|---|---|---|
| S-Corp ordinary income (K-1 Box 1) | $81,000 est. | $101,443 |
| SEHI deduction | $15,458 | $9,425 (pending confirmation) |
| Ben W-2 wages | $55,000 | $57,500 |
| Refund / amount owed | $3,580 refund | ~$1,145 owed (est.) |
| Deduction method | Standard | Likely standard |
| Dependent care credit | Not claimed | NEW — Sophia started preschool |
Key year-over-year differences:
- K-1 income increased ~$20K
- SEHI deduction decreased ~$6K (Medi-Share plan change)
- Dependent care credit is new for 2025 (Sophia, age 2, attended Small Blessings Preschool)
- No Q3 estimated tax payment was made
Contact / Questions
Primary contact: Benjamin Wilson (Ray Data Co) Questions on S-Corp return: Jordan Kirkey, Collective HUB (prepared 1120-S)
For SEHI reconciliation, taxpayer will provide additional Medi-Share documentation if needed.
Document prepared: April 6, 2026 All figures sourced from documents provided in the tax-prep folder. Preliminary estimates are for planning purposes only.