Questions
The United States federal personal income tax is calculated based on filing status and taxable income....

The United States federal personal income tax is calculated based on filing status and taxable income. There are four filing statuses (in this program we’ll use only three): single filers, married filing jointly, and head of household. The tax rates vary every year. Table 1 shows the rates for 2016. If you are, say, single with a taxable income of $10,000, the first $9,075 is taxed at 10% and the other $925 is taxed at 15%. So, your tax is $1,046.25.

 

Table 1. 2014 Taxable Income Brackets and Rates

Rate

Single Filers

Married Joint Filers

Head of Household Filers

10%

$0 to $9,075

$0 to $18,150

$0 to $12,950

15%

$9,076 to $36,900

$18,151 to$73,800

$12,951 to $49,400

25%

$36,901 to $89,350

$73,801 to $148,850

$49,401 to $127,550

28%

$89,351 to $186,350

$148,851 to $226,850

$127,551 to $206,600

33%

$186,351 to $405,100

$226,851 to $405,100

$206,601 to $405,100

35%

$405,101 to 406,750

$405,101 to 457,600

$405,101 to $432,200

39.6%

$406,751+

$457,601+

$432,201+

Source: Internal Revenue Service

Part I:

You are to re-write programming assignment 1 to compute personal income tax. Your program should prompt the user to enter the filing status and taxable income and compute the tax. Enter 0 for single filers, 1 for married filing jointly, and 2 for head of household.

 

Part II:

In this part of the assignment, you will reorganize your code using Methods. Your program must have at least four (4) methods i.e the main method, and the other three (3) for tax brackets that return the tax amount owed. You will organize the income ranges as an Array in each method and select an Array Record to compute specific tax in a tax bracket.

 

 

Part III

 

i) You are required to follow the Software Development Process (Ref: Chapter 2.16).

ii) Must include a Design Diagram [Ref: Fig. 6.11]

iii) Use UML [Ref: Fig 9.4] create class diagrams for your program

NOTE

There will be NO POINTS earned even if your code is working if you

1. don’t use methods

2. don’t use arrays

Hence you will get a 0/50.

 

Deliverables:

 

Note:

· Project name: ProgrammingAssignment_2

· Class name: ProgrammingAssignment_2

In: Computer Science

all persons mentioned below are New Zealand tax residents unless otherwise stated. All taxpayers have a...

all persons mentioned below are New Zealand tax residents unless otherwise stated. All taxpayers have a 31 March balance date.

QUESTION 1. Tobby has been buying and selling residential houses since 2010 and is regarded as a land dealer for tax purposes. Tobby also owns 20% and his daughter (who is 22 years old) owns 5% of Tobby Rentals Ltd (the balance of 75% is owned by his close friend Fred), a company that invests in residential rental investment properties. In January 2012, the company bought a rental property. In December 2016, the company decided to sell the rental property for a very good price. You are required to explain whether the income from the sale of the property by Tobby Rentals Ltd is taxable income under sections CB 6, CB 9 and CB 6A.

QUESTION 2. Kim is married to Bruce, a property developer. Kim is settlor and trustee of a trust, which owns all the shares in Kim's family company, Guts Ltd. Guts Ltd recently sold a rental property which was bought nine years ago. Is the income derived by Guts Ltd assessable income under section CB 10?

QUESTION 3. Maryanne entered into a sale and purchase agreement on 15 October 2015 to buy a property in Auckland with the intention of providing a home for herself and her children. When she eventually sells it, she hopes to make a gain and leave her children a legacy. The title of the property was registered in her name on 15 December 2015. However, in April 2017, she got a new job in Wellington and entered into an agreement to sell the property on 1 May 2017 to move closer to her new job. Property prices have risen, so Maryanne is able to sell the house for much more than she paid for it. The title was registered in the buyer’s name on 1 July 2017. You are required to explain whether the income from the sale of the property by Maryanne is assessable income under sections CB 6 and CB 6A (show also which dates are relevant in arriving at your decisions). She is not associated with a land developer/divider or dealer or builder.

In: Accounting

In January of 2016, the average price of an asset was $28,558. 7 years earlier, the...

In January of 2016, the average price of an asset was $28,558. 7 years earlier, the average price was $20,808. What was the annual increase in the selling price?


Multiple Choice

  • -4.42%

  • 4.63%

  • 4.16%

  • 5.55%

  • 5.09%

In: Finance

Intrepret and explain in detail why Tesla' current ratio between 2013-3017 are as follows: Year Current...

Intrepret and explain in detail why Tesla' current ratio between 2013-3017 are as follows:

Year Current Ratio
2013 1.88%
2014 1.51%
2015 0.99%
2016 1.07%
2017 0.86%

In: Accounting

What was the issuance price of the bonds if the market rate of Interest was 8%?

On January 1, 2016, Jason Company Issued $5 million of 10-year bonds at a 10% coupon Interest rate to be paid annually. The following present value factors have been provided: 

In: Accounting

1. Prepare a trend analysis from the following sales, assuming a base year of 2015. Round...

1. Prepare a trend analysis from the following sales, assuming a base year of 2015. Round to the nearest whole percent.

                           2018        2017        2016        2015

Sales $25,000 $60,000 $50,000   $70,000

In: Finance

Subject : Critical Thinking Need a Summary in 200-300 words. Consciousness Isn’t a Mystery. It’s Matter....

Subject : Critical Thinking

Need a Summary in 200-300 words.

Consciousness Isn’t a Mystery. It’s Matter.

https://www.nytimes.com/2016/05/16/opinion/consciousness-isnt-a-mystery-its-matter.html

In: Psychology

What strategic issues confront LVMH in 2016? What market or internal circumstances should most concern CEO...

What strategic issues confront LVMH in 2016? What market or internal circumstances should most concern CEO Bernard Arnault and his company’s senior leadership team?

Cite your sources.

In: Operations Management

How many of the reforms set forth in the Affordable Care Act have been implemented, how...

  1. How many of the reforms set forth in the Affordable Care Act have been implemented, how successful were they, and which ones (if any) have been undone following the November 2016 elections?

In: Operations Management

in Java Write a function that inputs a 4 digit year and outputs the ROMAN numeral...

in Java

Write a function that inputs a 4 digit year and outputs the ROMAN numeral year
M is 1,000
C is 100
L is 50
X is 10
I is 1
Test with 2016 and 1989

In: Computer Science