Disclaimer: This skill provides educational information about financial concepts and general guidance for personal financial planning. It does NOT constitute financial advice, investment recommendations, or tax guidance. Individual financial circumstances vary significantly, and the information provided should not be relied upon as a substitute for professional counsel. Always consult a qualified financial advisor, tax professional, or licensed financial planner before making financial decisions.
Tax preparation support covering common deductions, tax bracket explanations, W-2 vs 1099 differences, estimated tax payments, tax-advantaged accounts (HSA, FSA, 529), filing status optimization, record-keeping requirements, and deadline calendars.
How much does it cost?+
Nothing. It ships with Murage, which is open source. Your bots run on the AI plan you already have.
Can I change it?+
Yes. Open it in Settings → Skills to read, edit or duplicate it. Skill Guard scans it again after every edit.
Give your first job to Murage.
Download the app, connect the AI you already pay for, and tell your Chief of Staff what needs doing. Plan on about ten minutes from install to a working team.
User has questions about tax concepts, deductions, or filing basics
User wants to understand how a financial decision affects their taxes
User needs help organizing documents for tax preparation
User wants to understand tax brackets, credits, or withholding
Do NOT use this skill when:
User needs specific tax filing or preparation -- refer to CPA or tax professional
User has a complex tax situation (business, international, estate) -- refer to tax specialist
User needs legal tax dispute resolution -- refer to tax attorney
Process
Step 1: Identify the specific tax question and relevant filing status
Step 2: Explain applicable tax concepts in plain language with examples
Step 3: Walk through relevant deductions, credits, or calculations
Step 4: Provide document checklist or organizational framework
Step 5: Clarify when professional tax help is needed
Purpose
This skill helps users understand their tax obligations, identify potential deductions and credits, choose optimal filing strategies, and maintain proper records. It educates users on tax concepts so they can have more informed conversations with their tax professionals.
Questions to Ask the User First
Filing status: Single, Married Filing Jointly, Married Filing Separately, Head of Household, or Qualifying Surviving Spouse?
Income types: W-2 employment, 1099 freelance/contract, business income, investment income, rental income, retirement distributions?
Dependents: Any children or other dependents? Ages?
Major life events this year: Marriage, divorce, home purchase, baby, job change, retirement, inheritance?
Homeownership: Own or rent? Mortgage interest amount?
State of residence: Which state(s) did you live/work in? (State tax implications vary enormously)
Retirement contributions: 401k, IRA, HSA contributions this year?
Charitable giving: Did you make charitable donations (cash, goods, stock)?
Health insurance: Employer-provided, marketplace, or other?
Previous year: Did you owe taxes or get a refund last year? Roughly how much?
Tax Bracket Explanation (2024 Federal)
How Marginal Tax Brackets Work
Tax brackets are marginal, meaning only the income within each bracket is taxed at that rate. Your effective (average) tax rate is always lower than your marginal rate.
2024 FEDERAL TAX BRACKETS -- SINGLE
====================================
Income Range Tax Rate Tax on Bracket
$0 - $11,600 10% $1,160
$11,601 - $47,150 12% $4,266
$47,151 - $100,525 22% $11,742
$100,526 - $191,950 24% $21,942
$191,951 - $243,725 32% $16,568
$243,726 - $609,350 35% $127,969
$609,351+ 37% --
2024 FEDERAL TAX BRACKETS -- MARRIED FILING JOINTLY
====================================================
Income Range Tax Rate Tax on Bracket
$0 - $23,200 10% $2,320
$23,201 - $94,300 12% $8,532
$94,301 - $201,050 22% $23,486
$201,051 - $383,900 24% $43,884
$383,901 - $487,450 32% $33,136
$487,451 - $731,200 35% $85,313
$731,201+ 37% --
QUICK TAX CALCULATION
=====================
Gross income: $__________
Pre-tax deductions (401k, HSA): -$__________
Adjusted Gross Income (AGI): $__________
Deduction (standard or itemized): -$__________
Taxable income: $__________
Apply brackets above to calculate federal tax: $__________
Effective tax rate: tax / gross income x 100 = ____%
Marginal tax rate: the bracket your last dollar falls in = ____%
W-2 vs 1099 Differences
Factor
W-2 Employee
1099 Independent Contractor
Tax withholding
Employer withholds
You pay estimated taxes quarterly
Social Security/Medicare
Split 50/50 with employer (7.65% each)
You pay both halves (15.3% self-employment tax)
Deductions
Limited (standard deduction)
Business expenses deductible on Schedule C
Benefits
Often provided (health, retirement)
You provide your own
Tax forms
Receive W-2 by Jan 31
Receive 1099-NEC by Jan 31
Estimated payments
Generally not needed
Required quarterly (Apr 15, Jun 15, Sep 15, Jan 15)
QBI deduction
Not applicable
May qualify for 20% Qualified Business Income deduction
Self-Employment Tax Calculation (1099)
SELF-EMPLOYMENT TAX WORKSHEET
==============================
Net self-employment income (Schedule C): $__________
Multiply by 92.35% (adjustment factor): x 0.9235
Self-employment tax base: $__________
Self-employment tax (15.3%): x 0.153
TOTAL SE TAX: $__________
Note: You deduct HALF of SE tax from AGI as an adjustment
Deductible portion: SE tax / 2 = $__________
Estimated Tax Payments
Who Must Pay Estimated Taxes
You generally must make estimated payments if:
You expect to owe $1,000 or more when you file
Your withholding is less than 90% of current year tax OR 100% of prior year tax (110% if AGI > $150,000)
Quarterly Deadlines
ESTIMATED TAX CALENDAR
======================
Quarter Income Period Due Date
Q1 Jan 1 - Mar 31 April 15
Q2 Apr 1 - May 31 June 15
Q3 Jun 1 - Aug 31 September 15
Q4 Sep 1 - Dec 31 January 15 (following year)
Payment methods:
- IRS Direct Pay (irs.gov/payments)
- EFTPS (Electronic Federal Tax Payment System)
- IRS2Go app
- Check mailed with Form 1040-ES voucher
Safe Harbor Calculation
ESTIMATED PAYMENT CALCULATOR
=============================
Method 1: 90% of current year tax
Estimated total tax this year: $__________
x 90%: $__________
Divided by 4: $__________ per quarter
Method 2: 100% of prior year tax (110% if AGI > $150k)
Total tax from last year's return: $__________
x 100% (or 110%): $__________
Divided by 4: $__________ per quarter
USE THE LOWER of Method 1 or Method 2 to determine safe harbor.
Common Deductions Checklist
Standard Deduction (2024)
Single: $14,600
Married Filing Jointly: $29,200
Head of Household: $21,900
Additional $1,550 if 65+ or blind (single); $1,300 (married)
Itemized Deductions (only if total exceeds standard deduction)
ITEMIZED DEDUCTIONS WORKSHEET
==============================
Amount
Medical expenses (only amount exceeding
7.5% of AGI): $__________
State and local taxes (SALT) -- capped at
$10,000 total:
State income tax or sales tax: $__________
Property tax: $__________
SALT TOTAL (max $10,000): $__________
Mortgage interest (on up to $750k of debt): $__________
Charitable contributions:
Cash donations: $__________
Non-cash donations (fair market value): $__________
Charitable mileage (14 cents/mile): $__________
Casualty and theft losses (federally
declared disasters only): $__________
TOTAL ITEMIZED DEDUCTIONS: $__________
Compare to standard deduction: $__________
USE THE HIGHER AMOUNT
Above-the-Line Deductions (Available Even with Standard Deduction)
Traditional IRA contributions (up to $7,000; $8,000 if 50+)
Student loan interest (up to $2,500)
HSA contributions
Self-employment tax (50%)
Self-employed health insurance premiums
Educator expenses (up to $300)
Alimony (for agreements before 2019)
Tax-Advantaged Accounts
HSA (Health Savings Account)
Requirements: Must have a High Deductible Health Plan (HDHP)
2024 limits: $4,150 individual / $8,300 family (+$1,000 catch-up if 55+)
Triple tax advantage: Tax-deductible contribution, tax-free growth, tax-free withdrawals for qualified medical expenses
Strategy: Contribute the max, invest it, pay medical expenses out of pocket, let HSA grow for retirement
KEY TAX DATES
=============
January 15 Q4 estimated tax payment due
January 31 Employers must send W-2s; payers must send 1099s
February 15 Deadline to submit new W-4 to claim exemption
March 15 S-Corp and Partnership returns due (Form 1065, 1120-S)
April 15 Individual tax returns due (Form 1040)
Q1 estimated tax payment due
Last day for prior-year IRA contributions
Last day to file extension (Form 4868) -- extends to Oct 15
June 15 Q2 estimated tax payment due
Expat filing deadline (automatic 2-month extension)
September 15 Q3 estimated tax payment due
October 15 Extended individual returns due
Common Tax Credits
Credit
Amount
Who Qualifies
Child Tax Credit
Up to $2,000/child
Children under 17, income limits
Earned Income Tax Credit
Up to $7,430 (2024)
Low-to-moderate income, varies by dependents
Child and Dependent Care Credit
Up to $3,000 (1 child) / $6,000 (2+)
Childcare costs to enable work
American Opportunity Credit
Up to $2,500/student
First 4 years of higher education
Lifetime Learning Credit
Up to $2,000/return
Any post-secondary education
Saver's Credit
Up to $1,000 ($2,000 MFJ)
Low-income retirement savers
EV Tax Credit
Up to $7,500
New qualifying electric vehicle purchase
Output Format
When providing tax guidance, deliver:
Situation summary -- Filing status, income types, key factors
Standard vs. itemized analysis -- Which deduction method saves more
Deductions and credits identified -- Complete list with estimated values
Tax-advantaged account recommendations -- What to contribute and where
Estimated tax liability -- Rough calculation with effective rate
Action items -- Specific steps and deadlines
Records to gather -- Documents needed for filing
Professional referral note -- Recommend CPA/EA for complex situations
Example
Input: "I started freelancing this year in addition to my full-time job. I have made $12,000 from freelance work. What do I need to know about taxes?"
Output:
Tax Guide: Freelance Side Income
Situation: W-2 employee + $12,000 freelance income Key change: You now have self-employment income, which has different tax rules
What You Owe (Framework)
Tax
Rate
On $12,000
Federal income tax
Your marginal rate (22-24% typical)
~$2,640-$2,880
Self-employment tax
15.3% (Social Security + Medicare)
~$1,696
State income tax
[JURISDICTION: varies by state]
Varies
Estimated total
~37-40%
~$4,400-$4,800
Critical Action Items
Quarterly estimated taxes: You likely owe quarterly payments (due Jan 15, Apr 15, Jun 15, Sep 15). Underpayment penalty applies if you owe more than $1,000 at filing. Use IRS Form 1040-ES.
Deductible expenses: Track ALL business expenses to reduce taxable income:
Software and tools used for freelance work
Home office (if dedicated space): simplified method = $5/sqft up to 300 sqft
Internet (business-use percentage)
Professional development and courses
Health insurance premiums (if not covered by employer)
Document everything: Save all receipts. Use a separate bank account or credit card for freelance transactions.
Tax Forms You Will Need
Schedule C (business profit/loss)
Schedule SE (self-employment tax)
Form 1040-ES (quarterly estimated payments)
1099-NEC from each client paying you $600+
Edge Cases
Incomplete information: Ask clarifying questions before proceeding. Do not assume details the user has not provided.
Out of scope requests: Redirect to appropriate professional resources when the request exceeds educational guidance.
Conflicting requirements: Present trade-offs clearly and let the user decide priorities.