Internet Financial Calculator for Taxes

let taxSteps = “”; const currencySymbol = “$”, fixedCurrency = “USD”; function calculateTax(){ taxSteps=””; const income=parseFloat(document.getElementById(“income”).value); const deductions=parseFloat(document.getElementById(“deductions”).value); const rate=parseFloat(document.getElementById(“taxRate”).value)/100; if(isNaN(income)||isNaN(deductions)||isNaN(rate)||income<=0){ alert("Please enter valid positive values for all fields."); return; } const taxableIncome = income – deductions; const taxLiability = taxableIncome * rate; document.getElementById("taxResult").value = formatCurrency(taxLiability); taxSteps += `Inputs:
Income: ${formatCurrency(income)}
Deductions: ${formatCurrency(deductions)}
Tax Rate: ${(rate*100).toFixed(1)}%

`; taxSteps += `Formulas:
Taxable Income = Income – Deductions
Tax Liability = Taxable Income × Tax Rate

`; taxSteps += `Results:
Taxable Income: ${formatCurrency(taxableIncome)}
Tax Liability: ${formatCurrency(taxLiability)}
`; if(document.getElementById(“calculationStepsTax”).style.display===”block”){ document.getElementById(“calculationStepsTax”).innerHTML = taxSteps; } } function resetTax(){ document.querySelectorAll(“#calculator input”).forEach(el=>el.value=””); taxSteps=””; document.getElementById(“calculationStepsTax”).innerHTML=”

Not calculated yet.

“; } function toggleTaxSteps(){ const s=document.getElementById(“calculationStepsTax”); const a=document.getElementById(“toggleArrowTax”); if(s.style.display===”none”||s.style.display===””){ s.style.display=”block”;a.style.transform=”rotate(180deg)”; s.innerHTML=taxSteps||”

Not calculated yet.

“; }else{s.style.display=”none”;a.style.transform=”rotate(0deg)”;} } function formatCurrency(n){return currencySymbol+n.toFixed(2)+” “+fixedCurrency;}