take_home 1.0.0

checksums.yaml

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+  data.tar.gz: 3a0b64465e22118f089e1443ffe279cd878c4c95b5c0637bd1fac2879f2686b5
+SHA512:
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data/lib/fy2020.rb

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+module TaxConstants
+  module FY2020
+    SOCIAL_SECURITY_WAGE_BASE = 137700
+    SOCIAL_SECURITY_TAX_RATE = 0.062
+    MEDICARE_TAX_RATE = 0.0145
+
+    FEDERAL_SINGLE_STD_DEDUCTION = 12200
+    FEDERAL_MARRIED_STD_DEDUCTION = 24400
+
+    FEDERAL_SINGLE_INCOME_TAX_RATES = {
+        9700 => 0.10,
+       39475 => 0.12,
+       84200 => 0.22,
+      160725 => 0.24,
+      204100 => 0.32,
+      510300 => 0.35,
+      Float::INFINITY => 0.37
+    }
+
+    FEDERAL_MARRIED_INCOME_TAX_RATES = {
+       19400 => 0.10,
+       78950 => 0.12,
+      168400 => 0.22,
+      321450 => 0.24,
+      408200 => 0.32,
+      612350 => 0.35,
+      Float::INFINITY => 0.37
+    }
+
+    GEORGIA_SINGLE_STD_DEDUCTION = 4600
+    GEORGIA_MARRIED_STD_DEDUCTION = 6000
+
+    GEORGIA_SINGLE_INCOME_TAX_RATES = {
+       750 => 0.01,
+      2250 => 0.02,
+      3750 => 0.03,
+      5250 => 0.04,
+      7000 => 0.05,
+      Float::INFINITY => 0.0575
+    }
+
+    GEORGIA_MARRIED_INCOME_TAX_RATES = {
+      1000 => 0.01,
+      3000 => 0.02,
+      5000 => 0.03,
+      7000 => 0.04,
+      10000 => 0.05,
+      Float::INFINITY => 0.0575
+    }
+
+    LOOKUP = {
+      single: {
+        federal: {
+          deduction: FEDERAL_SINGLE_STD_DEDUCTION,
+          rates: FEDERAL_SINGLE_INCOME_TAX_RATES,
+        },
+        georgia: {
+          deduction: GEORGIA_SINGLE_STD_DEDUCTION,
+          rates: GEORGIA_SINGLE_INCOME_TAX_RATES,
+        },
+      },
+      married: {
+        federal: {
+          deduction: FEDERAL_MARRIED_STD_DEDUCTION,
+          rates: FEDERAL_MARRIED_INCOME_TAX_RATES,
+        },
+        georgia: {
+          deduction: GEORGIA_MARRIED_STD_DEDUCTION,
+          rates: GEORGIA_MARRIED_INCOME_TAX_RATES,
+        },
+      }
+    }
+  end
+end

data/lib/take_home.rb

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+require_relative 'fy2020.rb'
+
+class TaxablePerson
+  attr_reader :income
+  attr_reader :tax_type
+  attr_reader :state
+
+  def self.single(state, income, opts = {})
+    new(:single, state, income, opts)
+  end
+
+  def self.married(state, income, opts = {})
+    new(:married, state, income, opts)
+  end
+
+  def taxes
+    federal_income_taxes + state_income_taxes + payroll_taxes
+  end
+
+  def federal_income_taxes
+    marginal_taxes(income, federal_deductions, federal_tax_rates)
+  end
+
+  def state_income_taxes
+    marginal_taxes(income, state_deductions, state_tax_rates)
+  end
+
+  def payroll_taxes
+    social_security_taxes + medicare_taxes
+  end
+
+  def social_security_taxes
+    if income < social_security_wage_base
+      taxes = income * social_security_tax_rate
+    else
+      taxes = social_security_wage_base * social_security_tax_rate
+    end
+  end
+
+  def medicare_taxes
+    taxes = medicare_tax_rate * income
+  end
+
+  def effective_tax_rate
+    taxes * 100.0 / income
+  end
+
+  def take_home
+    income - taxes
+  end
+
+  private
+
+  attr_accessor :tax_type
+  attr_accessor :state
+  attr_accessor :income
+  attr_accessor :state_tax_rates
+  attr_accessor :federal_tax_rates
+  attr_accessor :medicare_tax_rate
+  attr_accessor :social_security_tax_rate
+  attr_accessor :social_security_wage_base
+  attr_accessor :federal_deductions
+  attr_accessor :state_deductions
+
+  def configure(opts)
+    self.state_deductions = opts[:state_deductions] || TaxConstants::FY2020::LOOKUP[tax_type][state][:deduction]
+    self.state_tax_rates = opts[:state_tax_rates] || TaxConstants::FY2020::LOOKUP[tax_type][state][:rates]
+    self.federal_deductions = opts[:federal_deductions] || TaxConstants::FY2020::LOOKUP[tax_type][:federal][:deduction]
+    self.federal_tax_rates = opts[:federal_tax_rates] || TaxConstants::FY2020::LOOKUP[tax_type][:federal][:rates]
+    self.social_security_tax_rate = opts[:social_security_tax_rate] || TaxConstants::FY2020::SOCIAL_SECURITY_TAX_RATE
+    self.social_security_wage_base = opts[:social_security_wage_base] || TaxConstants::FY2020::SOCIAL_SECURITY_WAGE_BASE
+    self.medicare_tax_rate = opts[:medicare_tax_rate] || TaxConstants::FY2020::MEDICARE_TAX_RATE
+    nil
+  end
+
+  def initialize(tax_type, state, income, opts)
+    self.tax_type = tax_type.downcase.to_sym
+    self.state = state.downcase.to_sym
+    self.income = income.to_f
+    configure(opts)
+  end
+
+  def marginal_taxes(income, deductions, rates)
+    #Calculate AGI
+    income = income - deductions
+    #Calculate Income Taxes
+    taxes = 0
+    last_cap = 0
+    rates.each do |cap, rate|
+      amt = [income, cap].min
+      taxes += [(amt - last_cap), 0].max * rate
+      last_cap = cap
+    end
+    taxes
+  end
+end

metadata

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+--- !ruby/object:Gem::Specification
+name: take_home
+version: !ruby/object:Gem::Version
+  version: 1.0.0
+platform: ruby
+authors:
+- Patrick Wiseman
+autorequire: 
+bindir: bin
+cert_chain: []
+date: 2020-01-01 00:00:00.000000000 Z
+dependencies: []
+description: Help folks figure out their take home pay and taxes.
+email: patrick.wiseman@deft.services
+executables: []
+extensions: []
+extra_rdoc_files: []
+files:
+- lib/fy2020.rb
+- lib/take_home.rb
+homepage: https://rubygems.org/gems/take_home
+licenses:
+- MIT
+metadata: {}
+post_install_message: 
+rdoc_options: []
+require_paths:
+- lib
+required_ruby_version: !ruby/object:Gem::Requirement
+  requirements:
+  - - ">="
+    - !ruby/object:Gem::Version
+      version: '0'
+required_rubygems_version: !ruby/object:Gem::Requirement
+  requirements:
+  - - ">="
+    - !ruby/object:Gem::Version
+      version: '0'
+requirements: []
+rubygems_version: 3.0.3
+signing_key: 
+specification_version: 4
+summary: Calculate take home pay and taxes
+test_files: []