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 rate is 2250 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:

1. Function getData: This function acts the user to enter the relevant data.
2. 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.)

Answer 1

Code

#include<iostream>
using namespace std;

// function to calculate tax
void taxAmount(char status, int child, float salary)
{
        float tax, excemption, net_tax, taxable_income; // variable declaration
                        
        if(status == 'u') // if person is unmarried
                excemption = 4000 + (0.06 * salary) + 1500; // calculate excemption
                
        else // if person is married
                excemption = 7000 + (0.06 * salary) + (1500 * (2+child)); // calculate excemption
                
        taxable_income = salary - excemption; // calculate taxable income after subtracting excemption
                
        if(taxable_income <= 15000) // if taxable_income is less than 15000
                tax = 0.15 * taxable_income;
                
        else if(taxable_income > 15000 && taxable_income <= 40000) // taxable_income between 15000 and 40000
                tax = 2250 + (taxable_income - 15000) * 0.25;
                
        else // taxable income greater than 40000
                tax = 8460 + (taxable_income - 40000) * 0.35;
                
        cout<<"Federal Tax: "<<tax<<endl; // print federal tax
}

// function to take the input
void getData()
{
        char status; // variable declaration
        int child=0;
        float salary;
        
        cout<<"Enter the marrital status: (m or u) ";// marrital status
        cin>>status;
        
        if(status=='m') // if person is married
        {
                cout<<"Enter the number of child below 14: ";
                cin>>child; // take no. of child below 14 as input
        }
        
        cout<<"Enter the gross salary: "; // gross salary
        cin>>salary;
        
        taxAmount(status, child, salary); // function call to calculate tax amount
}

// main function
int main()
{
        getData(); // function call to take input
        return 0;
}

Screenshot

Part 1

Part 2

Output 1: If person is married

Output 2:if person is unmarried

Comments has been given in the code. Also, screenshot of the code as well the output has been given for the reference.