PYTHON

Methods

void read_data()

Description: It handles the reading from the input and the storage of the above class properties

void write_data()

Description: It handles the writing to the output of the final tax return result

float adjusted_gross_income(float income)

Description: It returns the adjusted gross income

Logic: Adjusted gross income is what remains in the income after subtracting the social security and medicare taxes. Social security rate is 12.4%. Medicare is 2.9% but it only applies to the first $100K of the income. Both social security and medicare taxes are split equally between employer and employee.