Write a program that can be used to calculate the federal tax. The following is an example: For single people the standard exemption is $4’000 and for married people it is $7’000. A person can also put up to %6 of his or hers gross income in a pension plan. The tax rates are as follows: if the taxable income is: 1. Between $0-$15’000 it is 15% 2. %15’001-$40’000 $2’225 plus 25% of the income over $15’000 3. Over $40’000 the tax is $8’460 plus 35% of the income that is over $40’000 Prompt the user to enter the following information: 1. Marital status 2. If the marital status is married: ask for the number of children under the age of 14 3. Gross salary (if married and both have income enter combined gross salary.) 4. Percentage of gross income contributed to a pension fund. Your program must consist of at least the following functions: 1. The function getData: this will ask the user to enter the relevant data 2. The Function taxAmount: this will compute and returns the tax owed. To calculate the taxable income subtract the sum of the standard exemption, the amount contributed to the pension plan, and the personal exemption, which is $1’500 per person. (if married couple has 2 childern it would be $1’500 * 4 = $6’000)
Download : Federal Tax Calculation.cpp
Tested on VB 2010 (zipped file >> open federalcalculation.sln file >> press f5 to run project.)
