Example: Income Tax Calculator in C++

// Income Tax Calculator
#include <iostream>
#include <iomanip> // For std::fixed and std::setprecision

int main() {
    double annualIncome;
    double taxAmount = 0.0;

    // Step 1: Get annual income from the user
    std::cout << "Enter your annual income: $";
    std::cin >> annualIncome;

    // Step 2: Define hypothetical tax slabs and calculate tax
    // Slab 1: Up to $10,000 - 0% tax
    // Slab 2: $10,001 to $50,000 - 10% on amount above $10,000
    // Slab 3: Above $50,000 - 20% on amount above $50,000

    if (annualIncome <= 10000) {
        taxAmount = 0; // No tax for income up to $10,000
    } else if (annualIncome <= 50000) {
        // Income is between $10,001 and $50,000
        // Tax 10% on the amount over $10,000
        taxAmount = (annualIncome - 10000) * 0.10;
    } else {
        // Income is above $50,000
        // Calculate tax for the first $50,000
        // Tax for income between $10,001 and $50,000 ($40,000 range)
        taxAmount = (50000 - 10000) * 0.10; // Tax on the 10% slab: $40,000 * 0.10 = $4,000

        // Add tax for income above $50,000 at 20%
        taxAmount += (annualIncome - 50000) * 0.20;
    }

    // Step 3: Display the calculated income tax
    std::cout << std::fixed << std::setprecision(2); // Format output to 2 decimal places
    std::cout << "Based on your income of $" << annualIncome << ", your estimated income tax is: $" << taxAmount << std::endl;

    return 0;
}