102 lines
3.5 KiB
Python
102 lines
3.5 KiB
Python
"""
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federal_tax.py
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"""
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CODE = '''
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"""
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federal_tax.py
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"""
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YEARLY_TAXABLE_INCOME = 189000.52
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def calcluate_federal_tax(yearly_income: int, **kwargs) -> float:
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"""
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Federal Tax calculation method
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yearly_income: The early converted 'based on' amount
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eg: yearly_income-> 189000 then taxable_amount-> 39312.0 (yearly)
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"""
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def filter_brackets(brackets: list) -> list:
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"""
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This method to filter out the actual brackets/brackets range
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"""
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# brackets that contains actual bracket range, calculated_rate, and diff amount
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filterd_brackets = []
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for bracket in brackets:
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if bracket["max"] > bracket["min"]:
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# bracket: {'rate': 12, 'min': 11000, 'max': 44725}
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# finding diff amount and adding to the bracket
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bracket["diff"] = bracket["max"] - bracket["min"]
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# find bracket rate from the difference and adding to bracket
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bracket["calculated_rate"] = (bracket["rate"] / 100) * bracket["diff"]
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# bracket: {'rate': 12, 'min': 11000, 'max': 44725, 'diff': 33725, 'calculated_rate': 4047.0}
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filterd_brackets.append(bracket)
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continue
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# returning valid filtered brackets
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return filterd_brackets
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# returning valid filtered brackets
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return filterd_brackets
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# filter_brackets method/function will sort out the brackets
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# for example for the 189000 yearly income come in the 32% group,
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# so the final the max considered as min(231250,189000) which is 189000
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brackets = [
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{"rate": 10, "min": 0, "max": min(11000, yearly_income)},
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{"rate": 12, "min": 11000, "max": min(44725, yearly_income)},
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{"rate": 22, "min": 44725, "max": min(95375, yearly_income)},
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{"rate": 24, "min": 95375, "max": min(182100, yearly_income)},
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{"rate": 32, "min": 182100, "max": min(231250, yearly_income)},
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{"rate": 35, "min": 231250, "max": min(578125, yearly_income)},
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{"rate": 37, "min": 578125, "max": max(578125, yearly_income)},
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]
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# filtering the brackets to actual range
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brackets = filter_brackets(brackets=brackets)
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# finding yearly taxable amount
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taxable_amount = sum(bracket["calculated_rate"] for bracket in brackets)
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"""
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use formated_result method to print the table
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"""
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# formated_result(brackets=brackets, taxable_amount=taxable_amount)
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# returning the taxable amount later on the yearly taxable amount-
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# is converted to daily and calculate federal tax for the total days between the
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# Payslip period
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return taxable_amount
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def formated_result(brackets: dict, taxable_amount: float) -> None:
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"""
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It will print the brackets such a formated way
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"""
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col_width = 7
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print("----------------------Brackets----------------------")
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print(
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f"|{'Rate':<{col_width}} |{'Min':<{col_width}} |{'Max':<{col_width}} |{'Taxable':<{col_width}} |{'Bracket Tax':<{col_width}} |"
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)
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for bracket in brackets:
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print(
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f"|{bracket['rate']:<{col_width}}% |{bracket['min']:<{col_width}} | {bracket['max']:<{col_width}} | {bracket['diff']:<{col_width}} | {round(bracket['calculated_rate'],2):<{col_width + 3}} |"
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)
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print(f"| YEARLY TAXABLE INCOME | {taxable_amount} |")
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print("----------------------------------------------------")
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month_taxable = calcluate_federal_tax(YEARLY_TAXABLE_INCOME)
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print("YEARLY TAXABLE AMOUNT", month_taxable)
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'''
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