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@panphora
Last active December 2, 2023 00:45
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/*
# calculate your taxes in your browser console
## Usage ##
taxes.bracket(0, 22000, .10)
taxes.bracket(22001, 89450, .12);
taxes.bracket(89451, 190750, .22);
taxes.state(.05);
taxes.income(100000);
console.log("Total Taxes: ", taxes.calculate());
console.log("Federal Taxes: ", taxes.calculateFederal());
console.log("State Taxes: ", taxes.calculateState());
console.log("Taxes Per Bracket: ", taxes.calculatePerBracket());
*/
// Define the taxes object
const taxes = {
brackets: [],
income: 0,
stateTaxRate: 0,
// Method to add a tax bracket
bracket: function(min, max, rate) {
this.brackets.push({ min, max, rate });
},
// Method to set the income
income: function(amount) {
this.income = amount;
},
// Method to set the state tax rate
state: function(taxRate) {
this.stateTaxRate = taxRate;
},
// Method to calculate state tax
calculateState: function() {
return this.income * this.stateTaxRate;
},
// Method to calculate federal tax
calculateFederal: function() {
let federalTax = 0;
for (const bracket of this.brackets) {
if (this.income > bracket.min) {
const taxableIncome = Math.min(this.income, bracket.max) - bracket.min;
federalTax += taxableIncome * bracket.rate;
}
}
return federalTax;
},
// Method to calculate total expected taxes
calculate: function() {
const federalTax = this.calculateFederal();
const stateTax = this.calculateState();
return federalTax + stateTax;
},
// Method to calculate taxes per bracket including state tax
calculatePerBracket: function() {
let taxesPerBracket = [];
for (const bracket of this.brackets) {
if (this.income > bracket.min) {
const taxableIncome = Math.min(this.income, bracket.max) - bracket.min;
const tax = taxableIncome * bracket.rate;
taxesPerBracket.push({
range: `${bracket.min}-${bracket.max}`,
rate: bracket.rate,
tax: tax
});
}
}
// Add state tax as a separate bracket
taxesPerBracket.push({
range: `State Tax`,
rate: this.stateTaxRate,
tax: this.calculateState()
});
return taxesPerBracket;
}
};
// Usage
taxes.bracket(0, 22000, .10)
taxes.bracket(22001, 89450, .12);
taxes.bracket(89451, 190750, .22);
taxes.state(.05);
taxes.income(100000);
console.log("Total Taxes: ", taxes.calculate());
console.log("Federal Taxes: ", taxes.calculateFederal());
console.log("State Taxes: ", taxes.calculateState());
console.log("Taxes Per Bracket: ", taxes.calculatePerBracket());
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