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#include <iostream>
using namespace std;
#include <iomanip>
/* Incremental income per tax bracket(single/jointly)
$0 to $12,400.00(single) and $0 to $24,800.00(jointly) 0%
$12,400.01 to $22,275.00(single) and $24,800.01 to $44,550.00(jointly) 10% tax1/jtax1
$22,275.01 to $52,525.00(single) and $44,550.01 to $105,050.00(jointly) 12% tax2/jtax2
$52,525.01 to $97,925.00(single) and $105,050.01 to $195,850.00(jointly) 22% tax3/jtax3
$97,925.01 to $175,700.00(single) and $195,850.01 to $351,400.00(jointly) 24% tax4/jtax4
$175,700.01 to $219,750.00(single) and $351,400.01 to $439,500.00(jointly) 32% tax5/jtax5
$219,750.01 to $530,800.00(single) and $439,500.01 to $646,850.00(jointly) 35% tax6/jtax6
>$530,800.01(single) and >$646,850.01(jointly) 37% */
const double tax1 = 987.499; const double tax2 = 3629.9988; const double tax3 = 9987.9978; const double tax4 = 18665.9976; // Constant tax rates for single filing
const double tax5 = 14095.9968; const double tax6 = 108867.4965;
const double jtax1 = 1974.999; const double jtax2 = 7259.9988; const double jtax3 = 19975.9978; const double jtax4 = 37321.9976; // Constant tax rates for joint filing
const double jtax5 = 28191.9968; const double jtax6 = 72572.4965;
const double bracket1 = 12400.00; const double bracket2 = 12400.01; // Single bracket constants
const double bracket3 = 22275.00; const double bracket4 = 22275.01;
const double bracket5 = 52525.00; const double bracket6 = 52525.01;
const double bracket7 = 97925.00; const double bracket8 = 97925.01;
const double bracket9 = 175700.00; const double bracket10 = 175700.01;
const double bracket11 = 219750.00; const double bracket12 = 219750.01;
const double bracket13 = 530800.00; const double bracket14 = 530800.01;
const double bracket15 = 24800.00; const double bracket16 = 24800.01; // joint bracket constants
const double bracket17 = 44550.00; const double bracket18 = 44550.01;
const double bracket19 = 105050.00; const double bracket20 = 105050.01;
const double bracket21 = 195850.00; const double bracket22 = 195850.01;
const double bracket23 = 351400.00; const double bracket24 = 351400.01;
const double bracket25 = 439500.00; const double bracket26 = 439500.01;
const double bracket27 = 646850.00; const double bracket28 = 646850.01;
double x, x1, income, otherincome, taxed, efftax; // In between math work
int main()
{
cout << "Are you filing as a single or jointly?" << endl << "1. Single" << endl << "2. Joint" << endl << "Select option: "; cin >> x; // Asks under which filing, they are filing under.
x1 = x;
if (x1 <= 1) {
cout << "Enter income ($): "; cin >> income; // Asks the income then picks the category
if (income <= bracket1)
{
taxed = 0;
efftax = 0;
cout << "Marginal tax rate: 0.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%" << endl << endl;
}
else if (income >= bracket2 && income <= bracket3)
{
taxed = (income - bracket1) * .10;
efftax = (taxed / income) * 100;
cout << "Marginal tax rate: 10.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%" << endl << endl;
}
else if (income >= bracket4 && income <= bracket5)
{
taxed = (income - bracket3) * .12 + tax1;
efftax = (taxed / income) * 100;
cout << "Marginal tax rate: 12.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%" << endl << endl;
}
else if (income >= bracket6 && income <= bracket7)
{
taxed = (income - bracket5) * .22 + tax1 + tax2;
efftax = (taxed / income) * 100;
cout << "Marginal tax rate: 22.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%" << endl << endl;
}
else if (income >= bracket8 && income <= bracket9)
{
taxed = (income - bracket7) * .24 + tax1 + tax2 + tax3;
efftax = (taxed / income) * 100;
cout << "Marginal tax rate: 24.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%" << endl << endl;
}
else if (income >= bracket10 && income <= bracket11)
{
taxed = (income - bracket9) * .32 + tax1 + tax2 + tax3 + tax4;
efftax = (taxed / income) * 100;
cout << "Marginal tax rate: 32.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%" << endl << endl;
}
else if (income >= bracket12 && income <= bracket13)
{
taxed = (income - bracket11) * .35 + tax1 + tax2 + tax3 + tax4 + tax5;
efftax = (taxed / income) * 100;
cout << "Marginal tax rate: 35.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%" << endl << endl;
}
else if (income >= bracket14)
{
taxed = (income - bracket13) * .37 + tax1 + tax2 + tax3 + tax4 + tax5 + tax6;
efftax = (taxed / income) * 100;
cout << "Marginal tax rate: 35.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%" << endl << endl;
}
}
else if (x1 = 2) {
cout << "Enter income ($): "; cin >> otherincome;
}
if (otherincome <= bracket15)
{
taxed = 0;
efftax = 0;
cout << "Marginal tax rate: 0.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%";
}
else if (otherincome >= bracket16 && otherincome <= bracket17)
{
taxed = (otherincome - bracket15) * .10;
efftax = (taxed / otherincome) * 100;
cout << "Marginal tax rate: 10.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << endl << setprecision(3) << "Effective tax rate: " << efftax << "%";
}
else if (otherincome >= bracket18 && otherincome <= bracket19)
{
taxed = (otherincome - bracket17) * .12 + jtax1;
efftax = (taxed / otherincome) * 100;
cout << "Marginal tax rate: 12.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << endl << setprecision(3) << "Effective tax rate: " << efftax << "%";
}
else if (otherincome >= bracket20 && otherincome <= bracket21)
{
taxed = (otherincome - bracket19) * .22 + jtax1 + jtax2;
efftax = (taxed / otherincome) * 100;
cout << "Marginal tax rate: 22.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%";
}
else if (otherincome >= bracket22 && otherincome <= bracket23)
{
taxed = (otherincome - bracket21) * .24 + jtax1 + jtax2 + jtax3;
efftax = (taxed / otherincome) * 100;
cout << "Marginal tax rate: 24.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%";
}
else if (otherincome >= bracket24 && otherincome <= bracket25)
{
taxed = (otherincome - bracket23) * .32 + jtax1 + jtax2 + jtax3 + jtax4;
efftax = (taxed / otherincome) * 100;
cout << "Marginal tax rate: 32.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%";
}
else if (otherincome >= bracket26 && otherincome <= bracket27)
{
taxed = (otherincome - bracket25) * .35 + jtax1 + jtax2 + jtax3 + jtax4 + jtax5;
efftax = (taxed / otherincome) * 100;
cout << "Marginal tax rate: 35.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%";
}
else if (otherincome >= bracket28)
{
taxed = (otherincome - bracket27) * .37 + jtax1 + jtax2 + jtax3 + jtax4 + jtax5 + jtax6;
efftax = (taxed / otherincome) * 100;
cout << "Marginal tax rate: 35.00%"; cout << endl << "Federal taxes due: $" << taxed; cout << setprecision(3) << endl << "Effective tax rate: " << efftax << "%";
}
return 0;
}
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