tax_collector.py

   1 import utils
   2
   3 class tax_collector(object):
   4     def __init__(self):
   5         # These four accumulate and then clear every year (i.e. every call
   6         # to record_taxes_paid_and_reset_for_next_year)
   7         self.ordinary_income = 0
   8         self.short_term_gains = 0
   9         self.dividends_and_long_term_gains = 0
  10         self.roth_income = 0
  11
  12         # The rest of these aggregate and are used as part of the final stats.
  13         self.total_tax_bill = 0
  14         self.total_ordinary_income = 0
  15         self.total_short_term_gains = 0
  16         self.total_dividends_and_long_term_gains = 0
  17         self.total_roth_income = 0
  18         self.total_aggregate_income = 0
  19
  20     def record_taxes_paid_and_reset_for_next_year(self,
  21                                                   taxes_paid):
  22         self.total_tax_bill += taxes_paid
  23         self.total_aggregate_income += self.get_total_income()
  24         self.ordinary_income = 0
  25         self.short_term_gains = 0
  26         self.dividends_and_long_term_gains = 0
  27         self.roth_income = 0
  28
  29     def record_ordinary_income(self, amount):
  30         self.ordinary_income += amount
  31         self.total_ordinary_income += amount
  32
  33     def record_short_term_gain(self, amount):
  34         self.short_term_gains += amount
  35         self.total_short_term_gains += amount
  36
  37     def record_dividend_or_long_term_gain(self, amount):
  38         self.dividends_and_long_term_gains += amount
  39         self.total_dividends_and_long_term_gains += amount
  40
  41     def record_roth_income(self, amount):
  42         self.roth_income += amount
  43         self.total_roth_income += amount
  44
  45     def approximate_taxes(self,
  46                           standard_deduction,
  47                           ordinary_income_tax_brackets,
  48                           dividends_and_long_term_gains_brackets):
  49         taxes_due = 0
  50
  51         # Handle ordinary income:
  52         ordinary_income = (self.ordinary_income +
  53                            self.short_term_gains -
  54                            standard_deduction)
  55         if ordinary_income < 0:
  56             ordinary_income = 0
  57         taxes_due += ordinary_income_tax_brackets.compute_taxes_for_income(
  58             ordinary_income)
  59
  60         # Handle dividends and long term gains:
  61         taxes_due += dividends_and_long_term_gains_brackets.compute_taxes_for_income(
  62             self.dividends_and_long_term_gains)
  63
  64         # Assume Roth money is still available tax free in the future.
  65         return taxes_due
  66
  67     def how_many_more_dollars_can_we_earn_without_changing_tax_rate(
  68             self,
  69             federal_ordinary_income_tax_brackets):
  70         """Return number of ordinary income dollars we can make without
  71            changing this year's tax rate.  Note: this may return None
  72            which actually indicates something more like 'infinite since
  73            you're already at the top tax bracket.'"""
  74         income = self.ordinary_income
  75         if income <= 1: income = 2
  76         b = federal_ordinary_income_tax_brackets.get_bracket_above_income(
  77             income)
  78         if b[0] is not None:
  79             delta = b[0] - income
  80             return delta
  81         return 0
  82
  83     def get_total_income(self):
  84         return (self.ordinary_income +
  85                 self.short_term_gains +
  86                 self.dividends_and_long_term_gains +
  87                 self.roth_income)
  88
  89     def dump_final_report(self):
  90         print "  Taxes and income:"
  91         print "    {:<50}: {:>14}".format("Total aggregate income",
  92                                           utils.format_money(self.total_aggregate_income))
  93         print "    ...{:<47}: {:>14}".format("Ordinary income",
  94                                              utils.format_money(self.total_ordinary_income))
  95         print "    ...{:<47}: {:>14}".format("Income from short term gains",
  96                                              utils.format_money(self.total_short_term_gains))
  97         print "    ...{:<47}: {:>14}".format("Income from dividends and long term gains",
  98                                              utils.format_money(self.total_dividends_and_long_term_gains))
  99         print "    ...{:<47}: {:>14}".format("Roth income",
 100                                              utils.format_money(self.total_roth_income))
 101         print "    {:<50}: {:>14}".format("Total taxes paid",
 102                                           utils.format_money(self.total_tax_bill))
 103         overall_tax_rate = float(self.total_tax_bill) / float(self.total_aggregate_income)
 104         print "    {:<50}: {:>14}".format("Effective tax rate",
 105                                           utils.format_rate(overall_tax_rate))