Question

plz help with this matlab program

Write program that calculates the total amount of taxes a citizen has to pay based on his/her income. Here is the rule: Federal tax 10% on income between $0 and $8025 15% on income between $8026 and $32550; plus $802.5 25% on income between $32551 and $78850; plus $4481.25 28% on income between $78851 and $164550; plus $16056.25 33% on income between $164551 and $357700; plus $40052.25 Social Security tax 6.2% of income above 97500. None otherwise. Medicare tax 1.45% of income Your program should be given the income at the beginning and then calculate the total amount of taxes due

Answer 1

SAVE BELOW CODE AS taxes.m and run using commands shown in output

Program ask income as input and returns the tax due amount

function tax_due=taxes(income)

% Federal tax calculation
if (income>=0 && income<=8025)
tax_due=0.1*income;
elseif (income>=8026 && income<=32550)
tax_due=0.15*income+802.5;
  
elseif (income>=32551 && income<=78850)
tax_due=0.25*income+4481.25;
  
elseif (income>=78851 && income<=164550)
tax_due=0.28*income+16056.25;
  
elseif (income>=164551 && income<=357700)
tax_due=0.33*income+40052.25;
end

%Social secuirity tax

if(income>97500)
tax_due=tax_due+(0.062*income);
end

% Medicare Tax
tax_due=tax_due+0.0145*income;

end

OUTPUT_------------------------------TEST---------------------CODE

>> tax_due=taxes(97501)
tax_due =    5.0815e+04
>> tax_due=taxes(8021)
tax_due =  918.40
>> tax_due=taxes(32551)
tax_due =    1.3091e+04
>> taxes(164552)
ans =    1.0694e+05