document.addEventListener('DOMContentLoaded', function() { // Function to calculate taxes function calculateTax() { // Get values from form let filingStatus = document.getElementById("filingStatus").value; let income = parseFloat(document.getElementById("income").value) || 0; let dependents = parseInt(document.getElementById("dependents").value) || 0; let withholdings = parseFloat(document.getElementById("withholdings").value) || 0; let stateWithholdings = parseFloat(document.getElementById("stateWithholdings").value) || 0; let age = parseInt(document.getElementById("age").value) || 0; let claimedAsDependent = document.getElementById("claimedAsDependent").checked; // Adjustments for dependents and age let additionalCredit = (age >= 65) ? 1500 : 0; // Extra credit for seniors if (claimedAsDependent) { additionalCredit = 0; // No additional credit if claimed as dependent } // Standard deductions for 2024 tax year let standardDeductions = { "single": 13850, "married_joint": 27700, "married_separate": 13850, "hoh": 20800 }; let deduction = standardDeductions[filingStatus] || 0; // Tax brackets (2024) - simplified let taxBrackets = { "single": [ [11000, 0.1], [44725, 0.12], [95375, 0.22], [182100, 0.24] ], "married_joint": [ [22000, 0.1], [89450, 0.12], [190750, 0.22], [364200, 0.24] ], "married_separate": [ [11000, 0.1], [44725, 0.12], [95375, 0.22], [182100, 0.24] ], "hoh": [ [15700, 0.1], [59850, 0.12], [95350, 0.22], [182100, 0.24] ] }; // Apply standard deduction let taxableIncome = Math.max(income - deduction, 0); // Calculate tax liability let taxOwed = 0; let brackets = taxBrackets[filingStatus] || []; let previousBracket = 0; for (let [threshold, rate] of brackets) { if (taxableIncome > previousBracket) { let amountTaxed = Math.min(taxableIncome - previousBracket, threshold - previousBracket); taxOwed += amountTaxed * rate; previousBracket = threshold; } else { break; } } // Apply Child Tax Credit ($2000 per child, simplified, no phaseouts) let childTaxCredit = Math.min(dependents * 2000, taxOwed); taxOwed -= childTaxCredit; // Apply additional credits (e.g., senior credit) taxOwed = Math.max(taxOwed - additionalCredit, 0); // Calculate final refund or amount owed let refund = withholdings + stateWithholdings - taxOwed; let resultText = refund >= 0 ? `Estimated Refund: $${refund.toFixed(2)}` : `Amount Owed: $${Math.abs(refund).toFixed(2)}`; document.getElementById("result").innerText = resultText; } // Render the form let container = document.getElementById('taxEstimatorContainer'); container.innerHTML = ` `; // Attach event listener to button document.querySelector("button").addEventListener("click", calculateTax); });