Question

Write a program that asks the user for their filing status (single or married) and their taxable income. Then, using the below table, compute the tax owed and display the filing status, taxable income, and tax owed.

If the filing status is single and the taxable income is overbut not over   the tax is of the amount over$0$9,52510%0$9,526$38,700$952.50 + 12%$9,525$38,701$82,500$4,453.50 +22%
$38,700
$82,501unlimited$14,089.50 +24%
$82,500
If the filing status is married filing jointly and the taxable income is overbut not overthe tax is of the amount over$0$19,05010%$0$19,051$77,400$1,905 + 12%$19,050$77,401$165,000$8,907 + 22%$77,400$165,001unlimited$28,179 + 24%$165,000

Here are some check figures:

Single filer with $50,000 taxable income owes $6,939.50 tax

Married filer with $25,000 taxable income owes $2,619.00 tax

Married filer with $200,000 taxable income owes $36,579.00 tax

Be sure to follow the Program Submission Guidelines document from last week. Save the program and upload the .py file here.

Answer 1

Program

income=None
sum=0
print("Personal Income Tax Calculator\n")
print("Valid Filing Statuses(0=Unmarried Filer, 1=Married Filing Jointly, 2=Head of Household")
status=(int(input("Enter the filing status: ")))
while (status>3):
    print("Enter valid filing status!!!")
    status=(int(input("Enter the filing status: ")))   

income=(float(input("Enter your taxable income: ")))
while income<0:
    print("Enter valid income!!!")
    income=(float(input("Enter your taxable income: ")))

# Compute tax
tax = 0

if status == 0: # Compute tax for single filers
    if income <= 9525:
        tax = income * 0.10
    elif income <= 38700:
        tax = 9525 * 0.10 + (income - 9525) * 0.12
    elif income <= 82500:
        tax = 9525 * 0.10 + (38700 - 9525) * 0.12 +(income - 38700) * 0.22
    elif income <= 157500:
        tax = 9525 * 0.10 + (38700 - 9525) * 0.12 + (82500 - 38700) * 0.22 + (income - 82500) * 0.24
    elif income <= 200000:
        tax = 9525 * 0.10 + (38700 - 9525) * 0.12 + \
            (82500 - 38700) * 0.22 + (157500 - 82500) * 0.24 + \
            (income - 200000) * 0.35
    elif income <= 500000:
        tax = 9525* 0.10 + (38700 - 9525) * 0.12 + \
              (82500 - 38700) * 0.22 + (157500 - 82500) * 0.24 + \
              (200000 - 157500) * 0.32 + (income - 500000) * 0.35
    else:
        tax = 9525* 0.10 + (38700 - 9525) * 0.12 + \
              (82500 - 38700) * 0.22 + (157500 - 82500) * 0.24 + \
              (200000 - 157500) * 0.32 + (500000 - 200000) * 0.35++ (income - 500000) * 0.37;

       
elif status == 1: # Compute tax for married file jointly
    if income <= 19050:
        tax = income * 0.10
    elif income <= 77400:
        tax = 19050 * 0.10 + (income - 19050) * 0.12
    elif income <= 165000:
        tax = 19050 * 0.10 + (77400 - 19050) * 0.12 +(income - 77400) * 0.22
    elif income <= 315000:
        tax = 19050 * 0.10 + (77400 - 19050) * 0.12 + (165000 - 77400) * 0.22 + (income - 165000) * 0.24
    elif income <= 400000:
        tax = 19050 * 0.10 + (77400 - 19050) * 0.12 + \
            (165000 - 77400) * 0.22 + (315000 - 165000) * 0.24 + \
            (income - 315000) * 0.35
    elif income <= 600000:
        tax = 19050 * 0.10 + (77400 - 19050) * 0.12 + \
            (165000 - 77400) * 0.22 + (315000 - 165000) * 0.24 + \
              (400000 - 315000) * 0.32 + (income - 400000) * 0.35
    else:
        tax = 19050 * 0.10 + (77400 - 19050) * 0.12 + \
            (165000 - 77400) * 0.22 + (315000 - 165000) * 0.24 + \
              (400000 - 315000) * 0.32 + (600000 - 400000) * 0.35++ (income - 600000) * 0.37;

       

   
elif status == 2: # Compute tax for head of households
    if income <= 13600:
        tax = income * 0.10
    elif income <= 51800:
        tax = 13600 * 0.10 + (income - 13600) * 0.12
    elif income <= 82500:
        tax = 13600 * 0.10 + (51800 - 13600) * 0.12 +(income - 51800) * 0.22
    elif income <= 157500:
        tax = 13600 * 0.10 + (51800 - 13600) * 0.12 + (82500 - 51800) * 0.22 + (income - 82500) * 0.24
    elif income <= 200000:
        tax = 13600 * 0.10 + (51800 - 13600) * 0.12 + (82500 - 51800) * 0.22 + (157500 - 82500) * 0.24 + \
            (income - 200000) * 0.35
    elif income <= 500000:
        tax = 13600 * 0.10 + (51800 - 13600) * 0.12 + (82500 - 51800) * 0.22 + (157500 - 82500) * 0.24 + \
              (200000 - 157500) * 0.32 + (income - 500000) * 0.35
    else:
        tax = 13600 * 0.10 + (51800 - 13600) * 0.12 + (82500 - 51800) * 0.22 + (157500 - 82500) * 0.24 + \
              (200000 - 157500) * 0.32 + (500000 - 200000) * 0.35++ (income - 500000) * 0.37;

else:
    print("Error: invalid status")
    sys.exit()

# Display the result

print("Your income tax for 2018 will be : $ {:0.2f}".format(tax))

Output