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How do you calculate the following:
-Weekly Gross Wages
-Federal taxes
-Net Pay
I need to find out how to calculate these for a C++ program.
The program has to have the user enter the total hours worked and the pay rate. Then the program will take into account the overtime pay by multiplying the hours after 40 by 1.5.
Get IRS Circular E, it has all the tables, percentages, exemptikons, calculations, etc. for federal withholding. Of course, some state & cities also have income taxes.
Note also that the tables and withholding rates change periodically.
Start googling.
I wrote one of these years ago in Lotus 1-2-3, that my firm's account used you our payroll. I had to maintain it and he got bent out of shape when I stopped maintaining it when I becase aware that he was using it for other clients.
There's lots of commerical programs and web sites that perform the calculations.