CISP 1610 - Programming in C++
Midterm Examination
You are to write a C++ program to compute federal personal
income taxes. The tax owned depends on
how much money one makes as well as their filing status. For our purposes we will use four filing statuses. These are (1)single filers, (2)married filing
jointly, (3)married filing separately, and (4)head of household.
|
Tax Rate
|
Single Filers
|
Married Filing Jointly
|
Married Filing Separately
|
Head of Household
|
|
10%
|
Up to $7,550
|
Up to $15,100
|
Up to $7,550
|
Up to $10,750
|
|
15%
|
$7,551-$30,650
|
$15,101-$61,300
|
$7,551-$30,650
|
$10,751-$41,050
|
|
25%
|
$30,651-$74,200
|
$61,301-$123,700
|
$30,651-$61,850
|
$41,051-$106,000
|
|
28%
|
$74,201-$154,800
|
$123,701-$188,450
|
$61,851-$94,225
|
$106,001-$171,650
|
|
33%
|
$154,801-$336,550
|
$188,451-$336,550
|
$94,226-$168,275
|
$171,651-$336,550
|
|
35%
|
$336,551 or more
|
$336,551 or more
|
$168,276 or more
|
$336,551 or more
|
For each filing status there are six tax rates. Each rate is applied to a given amount of the
taxable income. For example, for a taxable
income of $450,000 for a single filer, $7,550 is taxed at 10%, ($30,650-$7,550)
at 15%, ($74,200-$30,650) at 25%, ($154,800-$74,200) at 28%,
($336,550-$154,800) at 33%, and ($450,000-336,550) at 35%.
Variables
|
Name
|
Type
|
Description and edit specifications
|
|
statusCode
|
int
|
Status code must be from 1 to 4. 1=single, 2=married filing jointly,
3=married filing separately, 4= head of household, 9 = end processing.
|
|
taxableIncome
|
float
|
Taxable income is entered by the user from the
keyboard. The amount must be numeric
and not less than $500.
|
|
taxAmt
|
float
|
taxAmt is a calculated field and is determined from the
supplied tax table as applied to the taxableIncome.
|
Your program should be modular, that is small blocks of
code. (Later in the semester when we
encounter functions, you will see how handy modular development can be.) You are to follow these specifications as
closely as possible. You should have
code blocks that do the following:
- Input status code. You should use a do/while loop to control the input logic. You are to keep the user in the loop until the input is correct. You are to ensure that the status codes are as specified above.
- Input taxable income. As in step 1, you are to use a do/while loop for this logic. You are to keep the user in the loop until the input is valid.
- Calculate the tax owned as a result of status code and taxable income. You are to use a switch statement for the appropriate logic for each status code. You should manually calculate several cases to ensure your program is performing correctly.
- Display the results of the calculation step. You are to output the status code, the string description of the status code, the taxable income, and the total tax amount. You are to use appropriate formatting of the output.
- You main loop should be a while loop that repeat steps 1 through 4 until the user enters a status code of 9 that will terminate the job.
Hint: As you can see
the tax rates are the same for each of the filing statuses. The primary differences in all the status
groups are the range amounts for the applicable tax rates.
Example of calculations and resulting output (note: it is ok
to take some liberties with the output format.)
Taxable Income:
$70000, Filing status of Married Filing Jointly
|
Taxable income brackets
|
Tax rate
|
Tax amt.
|
|
15100
|
.10
|
1510.00
|
|
(61300 – 15100)
|
.15
|
6930.00
|
|
(70000 – 61300)
|
.25
|
2175.00
|
|
Total Taxes
|
|
10615.00
|
Display of above
Filing status:
Married Filing Jointly
Taxable income:
$70000.00
Tax amount:
$10615.00
