Take-Home-Pay Calculator by Zachary Hayes (c) 2023

This program calculates an employee's take-home pay based on their hourly pay, the number of hours worked, and the applicable tax rate determined by their annual income.

Features

• Calculates hourly overtime pay rate
• Determines if overtime was accrued
• Calculates overtime hours accrued
• Calculates overtime pay
• Determines tax bracket based on annual income
• Calculates tax deductions
• Calculates take-home pay

Usage

1. Set the hourly_pay and num_hours_worked variables.
2. The program will calculate the take-home pay for the given employee, considering their hourly pay, hours worked, and tax bracket.

Variables

• hourly_pay: (float) The hourly pay rate for a given employee.
• num_hours_worked: (float) The number of hours worked by an employee.
• TAX_BRACKETS: (List[Tuple[float, float]]) A list of tuples representing the tax brackets and their corresponding tax rates.

Functions

overtime_rate

overtime_rate(hourly_pay: float) -> float

Calculates the hourly overtime pay rate.

Multiplies the the hourly pay by 1.5 to determine the hourly overtime pay rate.

• hourly_pay (float): The hourly pay rate for a given employee.
• return (float): Returns the hourly overtime pay rate.

was_overtime_accrued

was_overtime_accrued(num_hours_worked: float) -> bool

Determines if overtime was accrued.

Subtracts the number of hours worked by 40. If there is a remainder of hours, this means overtime pay was accrued. This function is used by take_home_pay().

• num_hours_worked (float): The number of hours worked by an employee.
• return (bool): Boolean which is True if hours worked is greater than or equal to 41.

overtime_hours_accrued

overtime_hours_accrued(num_hours_worked: float) -> float

Calculates the number of hours accrued.

Subtracts the number of hours worked by 40 to isolate the number of overtime hours worked. This function is only called if was_overtime_accrued() returns True.

• num_hours_worked (float): Number of hours worked.
• return (float): Number of hours worked subtracted by fourty.

overtime_pay

overtime_pay() -> float

Calculates the overtime pay accrued.

Calls overtime_rate() to determine the hourly pay rate and calls overtime_hours_accrued() to to determine what number to multiply to the hourly pay rate. The product of the two is the gross overtime pay.

• return (float): Overtime pay rate multiplied by the number of overtime hours accrued.

tax_bracket

tax_bracket(annual_income: float) -> int:

Determines the tax rate based on the employee's annual income.

• annual_income (float): The employee's annual income.
• return: The tax rate for the given income.

tax_deduction

tax_deduction(hourly_pay: float, num_hours_worked: float)

Calculates amount of taxes to be deducted from gross pay.

Multiplies hourly_pay by fourty to determine gross pre-overtime pay, adds gross pre-overtime pay to overtime pay accrued, multiplied by tax_rate, and divided by 100 to calculate the amount of taxes to be deducted from gross pay.

• hourly_pay (float): The hourly pay rate for a given employee.
• num_hours_worked (float): The number of hours worked by an employee.
• return: Salary pay + overtime * tax_rate divided by 100.

take_home_pay

take_home_pay(hourly_pay: float, num_hours_worked: float) -> float

Calculates post-tax pay accrued.

If overtime was accrued, take_home_pay() adds pre-overtime income to post-overtime income, subtracted by the tax_deduction(). If no overtime was accrued, take_home_pay() subtracts the tax_deduction from pre-overtime income.

• hourly_pay (float): The hourly pay rate for a given employee.
• num_hours_worked (float): The number of hours worked by an employee.
• return (float): Income after deducting taxes.

Example

hourly_pay = 90
num_hours_worked = 41

take_home_pay = take_home_pay(hourly_pay, num_hours_worked)
print(f"Take Home Pay: ${take_home_pay}")