### project 1 compute income tax example of a tax computation from wikipedia income tax 3540568

Project 1 Compute Income Tax

Example of a tax computation (From Wikipedia)Income tax for year 2009:

Single taxpayer, no children, under 65 and not blind takingstandard deduction;\$40,000 gross income – \$5,700 standard deduction -\$3,650 personal exemption = \$30,650 taxable income\$8,350 × 10% = \$835.00(\$30,650 – \$8,350) x 15% = \$22,300.00 x 15% =\$3,345.00Total income tax = \$4180.00 (10.45% effective tax)

This project provides you an opportunity to show off your C++programming skill. In order to earn full points, you need to followthe following design guidelines:

1. Write a main function that takes a user’s income,deductable, and exemption information and compute the incometax.

2. The input should allow a user to enter her/his personalinformation including name, address, SSN, and the number ofdependants.

3. The input should allow a user to enter her/his income frommultiple sources and multiple exemptions.

4. The input should allow a user to enter exemptions withvalues.

5. The income can be salary (could be multiple sourcse),dividends from stock shares (name of the stock and dividend), andcapital gain:Income = salary1 + salary2 + … + dividend1 + dividend2 +… + capital gain

6. The deductable amount depends on the number ofdependants:Deduction = number of dependants x \$5000

7. Exemptions include the full amount of donations and aneducation costExemption = donation1 + donation2 + … + educationcost.

8. The program should be able to compute the income taxaccording to year 2009 income brackets and tax rates (reference 1)and use the “single” category.

9. The output should be formatted. It should include a list ofpersonal information, total income, total deductable and exemptioninformation and the total tax.

10. The program should have multiple classes and thedefinitions of the classes are separated from theirimplementations.

11. You need to demonstrate your knowledge of private, public,constructor, destructor, overload, and template.

12. Extra 20% — format the output and write it into a PDFfile.

Reference:http://en.wikipedia.org/wiki/Income_tax_in_the_United_States