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
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