Abound provides holistic estimates on a user's taxes incorporating both 1099 and W-2 income. At any time you can retrieve the user's year-to-date (YTD) tax information for a particular tax year. This information will always be the most up-to-date tax information for your user.

Below are the Tax object's fields and descriptions:

FieldDescription
1099IncomeThe total annual 1099 income for the user. The tax totals returned are the taxes owed on this income.
expenseDeductionThe total business expense deduction for this user. Most business expenses are deducted at 100% of the expense value. However, it’s important to note that expenses related to categories, such as "Meals & Entertainment," are deducted at a different rate.
federalIncomeTaxThe federal income tax owed on the user’s 1099 income. This is a graduated tax that is determined by the user’s filing status and income tax bracket.
filingStateThe state in which the user earns their 1099 income (this is typically the state they live in). This value is used to calculate the user's stateIncomeTax.
The value should be the lowercase abbreviation of the state ("ca" for "California"). Default value is ca
filingStatusThe user's filing status, which determines the tax bracket to use for tax calculations. The possible values are single, married, marriedSeparately, and headOfHousehold.
quarterlyPaymentsThe total payments submitted to the IRS in the year.
smartTaxRateThe single rate at which Abound recommends your users withhold on outstanding (not yet withheld) 1099 income.
mileageThe total mileage driven for a current year. Used to calculate the mileageDeduction.
mileageDeductionThe total mileage deduction value for a current year.
selfEmploymentTaxThe self-employment taxes owed on the user’s 1099 income. This is typically a flat rate of 15.3% that covers medicare (2.9%) and social security (12.4%).
stateIncomeTaxThe state income tax owed on the user’s 1099 income. This is a graduated tax that is determined by the user’s filing status and income tax bracket. Seven states have no income tax (Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming).
taxWithholdingsThe current tax withholding balance for your user. This value represents only settled funds and the max amount that can be withdrawn.
Only applicable if your user is using the Tax Withholding product.
taxWithholdingsPendingThe amount of tax withholdings that have not settled yet. The value can be positive or negative based on the direction of the funds. For example, a non-settled withdrawal will show up as negative.
Only applicable if your user is using the Tax Withholding product.
totalTaxThe sum of all the taxes owed across both federal and state.
w2IncomeThe user’s expected annual W2 income (if applicable). This number informs the tax bracket to be used when calculating the taxes owed on 1099 income. The taxes owed on this income are not included in the tax totals returned, as it is assumed to be already withheld by the employer.
yearThe tax year in which the tax calculations are associated.