Question

(C++) Write a program that can be used to calculate the federal tax. The tax is calculated as follows: For single people, the standard exemption is $4,000; for married people, the standard exemption is $7,000. A person can also put up to 6% of his or her gross income in a pension plan. The tax rates are as follows:

If the taxable income is: Between $0 and $15,000, the tax rate is 15%. Between $15,001 and $40,000, the tax is $2,250 plus 25% of the taxable income over $15,000. Over $40,000, the tax is $8,460 plus 35% of the taxable income over $40,000. Prompt the user to enter the following information: Marital status If the marital status is “married,” ask for the number of children under the age of 14 Gross salary (If the marital status is “married” and both spouses have income, enter the combined salary.) Percentage of gross income contributed to a pension fund Your program must consist of at least the following functions: Function getData: This function asks the user to enter the relevant data. Function taxAmount: This function computes and returns the tax owed.

To calculate the taxable income, subtract the sum of the standard exemption, the amount contributed to a pension plan, and the personal exemption, which is $1,500 per person. (Note that if a married couple has two children under the age of 14, then the personal exemption is $1,500 ∗ 4 = $6,000.) Since your program handles currency, make sure to use a data type that can store decimals with a decimal precision of 2.

An input of : m, 5, 50000, 6

Should have a federal tax amount of: 5875.00

Answer 1

Code

#include<iostream>
#include<iomanip>
#include<string>
using namespace std;
#define standardexEmptionSingle 4000
#define standardexEmptionMarried 7000
#define personalExemption 1500
void getData(double&,char&,int&,double&);
double taxAmount(double,char,int,double);
int main()
{
   char maritalStatus;
   double income=0;
   int numberOfchildren;
   double percentage_pension,tax;
   getData(income,maritalStatus,numberOfchildren,percentage_pension);
   tax=taxAmount(income,maritalStatus,numberOfchildren,percentage_pension);
   cout<<fixed<<setprecision(2);
   cout<<"\nFedral Tax amount: $"<<tax<<endl<<endl;;
}
void getData(double& income,char& status,int&numberOfChildren,double &percentage)
{
   cout<<"Enter your marital status (m/s): ";
   cin>>status;
   if(status=='m')
   {
       cout<<"Enter the number of childrens under 14 year: ";
       cin>>numberOfChildren;
   }
   cout<<"Enter you gross salary: ";
   cin>>income;

   cout<<"Enter ercentage of gross income contributed to a pension fund up to 6%: ";
   cin>>percentage;
}
double taxAmount(double income,char status,int numberOfChildren,double percentage)
{
   double taxableIncome=income;
   double tax;
   if(status=='m')
   {
       taxableIncome-=standardexEmptionMarried;
       taxableIncome-=(2+numberOfChildren)*personalExemption;
   }
   if(status=='s')
   {
       taxableIncome-=standardexEmptionSingle;
       taxableIncome-=personalExemption;
   }
   taxableIncome-=income*percentage/100;
  

   if(taxableIncome<=15000)
       tax=taxableIncome*0.15;
   else if (taxableIncome>15000 && taxableIncome<=40000)
       tax=2250+(taxableIncome-15000)*0.25;
   else
       tax=8460+(taxableIncome-40000)*0.35;

   return tax;
}

output

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