Tax Calculator program Introduction / Problem Statement Write a python program that calculate tax refund based on steps below, use only functions no objects. Step 1. Calculate the standard deduction....

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Tax Calculator program Introduction / Problem Statement Write a python program that calculate tax refund based on steps below, use only functions no objects. Step 1. Calculate the standard deduction. For this problem we are going to assume only two marital status positions. If you are single, you get a $12,200 standard deduction. If you filed married, you get a $24,400 standard deduction. Step 2. Calculate the adjusted gross income. To calculate your taxes owed, you take the wages and subtract the standard deductions. This gives you your adjusted gross income (AGI).  Step 3. Calculate the tax refund or taxes owed. You then use the tables below with the AGI to calculate the taxes.  If the taxes are greater than what was paid, you owe taxes. If the taxes were less, you get a refund. Example First Name = Kevin Last Name = Martin Total Wages = 50000 Taxes Paid = 30000 Marital Status = single Kevin Martin’s refund is going to be $25,658.00! Example First Name = Sarah Last Name = Hayland Total Wages = 25000 Taxes Paid = 1000 Marital Status = single Sarah Hayland still owes $342.00 in taxes!
Answered 14 days AfterJun 30, 2021

Answer To: Tax Calculator program Introduction / Problem Statement Write a python program that calculate tax...

Sushma answered on Jul 15 2021
140 Votes
Tax Calculation/Readme.txt
1. Tax_calcutor_program.docx :- its file for expalining code and result.
2. Taxes.py :- python file for tax calculation
Tax Calculation/Tax_calculator _progra
m.docx.docx
Tax Calculator program
The step to calculate the taxes are:
1. Calculate the adjusted gross income (AGI)
AGI= Total wages - Standard deduction
Where, standard deduction will be decided according marital status.
2. Calculates the taxes according to percentage of AGI given in table
Taxes = some percentage of AGI
CODES
        
def AGI(Total_wages,Marital_Status):
if Marital_Status =="Married" or Marital_Status =="married":
AGI= Total_wages-24400
if Marital_Status =="Single" or Marital_Status =="single":
AGI = float(Total_wages-12200)
return AGI
def tax_married(AGI):

if 19750 >AGI>= 0:
tax= float((10*AGI)/100)

if 80250 >AGI>= 19751:
AGI= AGI-19750
tax= float(1975+((12*AGI)/100))

if 171050 >AGI>= 80251:
AGI= AGI-80250
tax= float(9235+((22*AGI)/100))

if 326600>AGI>= 171051:
AGI= AGI-171050
tax= float(29211+((24*AGI)/100))

if 414700>AGI>= 326601:
AGI= AGI-326600
tax= float(66543+((32*AGI)/100))

if 622050>AGI>=414701 :
AGI= AGI-414700
tax= float(94735+((35*AGI)/100))

if AGI>=622051 :
AGI= AGI-622050
tax= float(167307.50+((37*AGI)/100))
return tax
def tax_single(AGI):

if 9875 >AGI>= 0:
tax= float((10*AGI)/100)

if 40125 >AGI>= 9876:
AGI= AGI-9875
tax= float(987.50 +((12*AGI)/100))

if 85525 >AGI>= 40126:
AGI= AGI-40125
tax= float(4617.50+((22*AGI)/100))

if 163300>AGI>= 85526:
...
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