Question: Help with this program in c++ language Exercise #2 Write a program for the IRS that will calculate income tax. You will need as input

Help with this program in c++ language  Help with this program in c++ language Exercise #2 Write a

Exercise #2 Write a program for the IRS that will calculate income tax. You will need as input the person's annual salary. Display a message that says: This year you paid tax. So your net salary after taxes are taken out is $ Format your output to two decimal places. dollars in Assume that the tax brackets in the U.S. are as follows: Salary Under $12,000 $12,001-$38,000 38,001-55,000 Over $55,000 Tax Rate 6% 27% 33% 39% Extra Credit: Modify your program to also factor in state and local taxes, and deductions. You should assume that state and local taxes (a combined 15%) only have to be paid by individuals who earn more than $38,000. nally, ask the user if they have any children or if they make any student loan payments. x amount factoring in a If they do have children, ask them how many, and calculate their new ta 5% deduction per child off their pre-tax annual salary. If they do make student loan payments, ask them how much interest they paid on the loan last year, and calculate their new tax amount by subtracting the student loan interest from their pre tax annual salary

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Databases Questions!