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taxCalculator.r
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library(R6)
CalculateTaxes <- R6Class("CalculateTaxes",
public = list(
setAnnualIncome = function(val) {
private$annualIncome <- val
},
setAnnualMarriedIncome = function(val) {
private$marriedIncome <- val
},
getTaxedAnnualIncome = function() {
return(private$totalTaxedIncome)
},
initialize = function(val = NULL, val2 = NULL) {
if (!is.null(val) && is.null(val2)) {
self$setAnnualIncome(as.numeric(val))
self$setAnnualMarriedIncome(as.numeric(val))
} else if (!is.null(val) && !is.null(val2)) {
combinedIncome = as.numeric(val + val2)
self$setAnnualMarriedIncome(combinedIncome)
}
},
standardDeductions = function() {
},
singleFederalTaxes = function() {
#Ask questions, such as "filing status, HOH? etc"
# Tax tables: https://smartasset.com/taxes/current-federal-income-tax-brackets
# Understand marginal tax rate and how only portions of income are taxed at different rates.
# private$federalTaxedIncome <- private$federalTaxedIncome + socialSecurityTaxAmount
# https://www.khanacademy.org/college-careers-more/personal-finance/pf-taxes/pf-personal-taxes-tutorial/v/calculating-federal-taxes-and-take-home-pay
# if (private$annualIncome <= 11000) {
# tax <- private$annualIncome * 0.1
# } else if (private$annualIncome <= 44725) {
# tax <- (11000 * 0.1) + (0.12 * (private$annualIncome - 11000))
# } else if (private$annualIncome <= 95375) {
# tax <- (11000 * 0.1) + (0.12 * (44725 - 11000)) + (0.22 * (private$annualIncome - 44725))
# } else if (private$annualIncome <= 182100) {
# tax <- (11000 * 0.1) + (0.12 * (44725 - 11000)) + (0.22 * (95375 - 44725)) + (0.24 * (private$annualIncome - 95375))
# } else if (private$annualIncome <= 231250) {
# tax <- (11000 * 0.1) + (0.12 * (44725 - 11000)) + (0.22 * (95375 - 44725)) + (0.24 * (182100 - 95375)) + (0.32 * (private$annualIncome - 182100))
# } else if (private$annualIncome <= 578125) {
# tax <- (11000 * 0.1) + (0.12 * (44725 - 11000)) + (0.22 * (95375 - 44725)) + (0.24 * (182100 - 95375)) + (0.32 * (231250 - 182100)) + (0.35 * (private$annualIncome - 231250))
# } else if (private$annualIncome > 578125) {
# tax <- (11000 * 0.1) + (0.12 * (44725 - 11000)) + (0.22 * (95375 - 44725)) + (0.24 * (182100 - 95375)) + (0.32 * (231250 - 182100)) + (0.35 * (578125 - 231250)) + (0.37 * private$annualIncome)
# }
private$taxBracketsFormula(list(11000, 44725, 95375, 182100, 231250, 578125), list(0.1, 0.12, 0.22, 0.24, 0.32, 0.35, 0.37))
# print(paste("CORRECT TAX: ", tax))
},
headOfHouseholdFederalTaxes = function() {
private$taxBracketsFormula(list(15700, 59850, 95350, 182100, 231250, 578100), list(0.1, 0.12, 0.22, 0.24, 0.32, 0.35, 0.37))
},
marriedSeparateFederalTaxes = function() {
private$taxBracketsFormula(list(11000, 44725, 95375, 182100, 231250, 346875), list(0.1, 0.12, 0.22, 0.24, 0.32, 0.35, 0.37))
},
marriedTogetherFederalTaxes = function() {
private$taxBracketsFormula(list(22000, 89450, 190750, 364200, 462500, 693750), list(0.1, 0.12, 0.22, 0.24, 0.32, 0.35, 0.37))
},
# Current tax rates are not out yet, unfortunately uses 2022 brackets
singleCaliforniaTaxes = function() {
private$taxBracketsFormula(list(10099, 23942, 37788, 52455, 66295, 338639, 406364, 677275), list(0.01, 0.02, 0.04, 0.06, 0.08, 0.093, 0.103, 0.113, 0.123), 1)
},
headOfHouseholdCaliforniaTaxes = function() {
private$taxBracketsFormula(list(20212, 47887, 61730, 76397, 90240, 460547, 552658, 921095), list(0.01, 0.02, 0.04, 0.06, 0.08, 0.093, 0.103, 0.113, 0.123), 1)
},
marriedSeparateCaliforniaTaxes = function() {
private$taxBracketsFormula(list(10099, 23942, 37788, 52455, 66295, 338639, 406364, 677275), list(0.01, 0.02, 0.04, 0.06, 0.08, 0.093, 0.103, 0.113, 0.123), 1)
},
marriedTogetherCaliforniaTaxes = function() {
private$taxBracketsFormula(list(20198, 47884, 75576, 104910, 132590, 677278, 812728, 1354550), list(0.01, 0.02, 0.04, 0.06, 0.08, 0.093, 0.103, 0.113, 0.123), 1)
},
ficaTaxes = function() {
socialSecurityTaxAmount <- private$annualIncome * 0.062
medicareTaxAmount <- private$annualIncome * 0.0145
ficaTaxes <- socialSecurityTaxAmount + medicareTaxAmount
private$federalTaxedIncome <- private$federalTaxedIncome + ficaTaxes
},
californiaSdiTax = function() {
if (private$annualIncome <= 145000) {
sdiTax <- (private$annualIncome * 0.009)
if (sdiTax >= 1378.48) {
sdiTax <- 1378.48
private$stateTaxedIncome <- private$stateTaxedIncome + sdiTax
} else {
private$stateTaxedIncome <- private$stateTaxedIncome + (private$annualIncome * 0.009)
}
# print(sdiTax)
}
},
totalSingleCaliforniaFedTaxes = function() {
self$singleFederalTaxes()
self$ficaTaxes()
self$singleCaliforniaTaxes()
self$californiaSdiTax()
private$totalTaxedIncome <- private$federalTaxedIncome + private$stateTaxedIncome
private$biweeklyTakeHomePay <- (private$annualIncome - private$totalTaxedIncome) / 26
return(private$totalTaxedIncome)
},
totalHeadOfHouseholdCaliforniaFedTaxes = function() {
self$headOfHouseholdFederalTaxes()
self$ficaTaxes()
self$headOfHouseholdCaliforniaTaxes()
self$californiaSdiTax()
private$totalTaxedIncome <- private$federalTaxedIncome + private$stateTaxedIncome
private$biweeklyTakeHomePay <- (private$annualIncome - private$totalTaxedIncome) / 26
return(private$totalTaxedIncome)
},
getBiweeklyTakeHomePay = function() {
return(private$biweeklyTakeHomePay)
}
),
private = list (
annualIncome = NA,
marriedIncome = NA,
federalTaxedIncome = NA,
stateTaxedIncome = NA,
localTaxedIncome = NA,
totalTaxedIncome = NA,
biweeklyTakeHomePay = NA,
# @params {list(), list(), number}
taxBracketsFormula = function(brackets, percents, flag = NULL) {
income <- NA
tax <- 0
if (!is.na(private$annualIncome)) {
income <- private$annualIncome
} else if (!is.na(private$marriedIncome)) {
income <- private$marriedIncome
}
for (i in seq_along(brackets)) {
if (income <= brackets[[1]]) {
tax <- income * percents[[1]]
break;
} else if (i == length(brackets) && income > brackets[[i]]) {
previous <- (brackets[[1]] * percents[[1]])
for (j in seq_along(brackets)) {
if (j+1 <= i) {
previous = previous + (percents[[j+1]] * (brackets[[j+1]] - brackets[[j]]))
# print(paste(percents[[j+1]], " * (", brackets[[j+1]], " - ", brackets[[j]], ")"))
} else {
tax <- previous + (percents[[i+1]] * (income))
break;
}
}
} else if (income <= brackets[[i]] && income > brackets[[i-1]] && i > 1) {
previous <- (brackets[[1]] * percents[[1]])
for (j in seq_along(brackets)) {
if (j+1 != i) {
previous = previous + (percents[[j+1]] * (brackets[[j+1]] - brackets[[j]]))
# print(paste(percents[[j+1]], " * (", brackets[[j+1]], " - ", brackets[[j]], ")"))
} else {
tax <- previous + (percents[[i]] * (income - brackets[[i-1]]))
break;
}
}
}
}
if (flag == 0 || is.null(flag)) {
private$federalTaxedIncome <- tax
} else if (flag == 1) {
private$stateTaxedIncome <- tax
}
# print(paste("TT", tax))
}
)
)
#always include FICA taxes after running one of the federal income filing options
# taxes <- CalculateTaxes$new(41600)
# print(paste("TEST: ", taxes$totalSingleCaliforniaFedTaxes()))
# print(taxes$getBiweeklyTakeHomePay())
# print(paste("TEST: ", taxes$totalHeadOfHouseholdCaliforniaFedTaxes()))
# print(taxes$getBiweeklyTakeHomePay())
# taxes$marriedFilingTogetherFederalTaxes()