Posted on

# C++ | Write a program that can be used to calculate the federal tax.

### Write a program that can be used to calculate the federal tax.

The tax is calculated as follows: For single people, the standard exemption is \$4,000; for married people, the standard exemption is \$7,000. A person can also put up to 6% of his or her gross income in a pension plan. The tax rates are as follows: If the taxable income is:

• Between \$0 and \$15,000, the tax rate is 15%.
• Between \$15,001 and \$40,000, the tax is \$2,250 plus 25% of the taxable income over \$15,000.
• Over \$40,000, the tax is \$8,460 plus 35% of the taxable income over \$40,000. Prompt the user to enter the following information:
• Marital status
• If the marital status is “married,” ask for the number of children under the age of 14
• Gross salary (If the marital status is “married” and both spouses have income, enter the combined salary.)
• Percentage of gross income contributed to a pension fund Your program must consist of at least the following functions:
• Function getData: This function asks the user to enter the relevant data.
• Function taxAmount: This function computes and returns the tax owed.

To calculate the taxable income, subtract the sum of the standard exemption, the amount contributed to a pension plan, and the personal exemption, which is \$1,500 per person. (Note that if a married couple has two children under the age of 14, then the personal exemption is \$1,500 ∗ 4 = \$6,000.)

Since your program handles currency, make sure to use a data type that can store decimals with a decimal precision of 2.

`                                  100% Working Code File is Ready | C++`
Solved by verified study co-pilot
Student review: