Hi there,
I am looking for zero-code ways to create a tax return calculator. After several hours of playing around and googling, I am still not sure if I can use Typeform for that. Your help in discarding (or not!) this option will be highly appreciated.
What I need:
- Income tax calculation: function that processes user inputs for incomes and deductions and calculates total income, subtracts deductions, and applies the appropriate tax rates and brackets to determine the tax liability
- Sales tax calculation: function multiplies the amount by the tax rate to determine the sales tax.
- Small business tax calculation: function calculates the tax for small businesses based on the entity type (S corporation, C corporation, LLC, etc.). For C corporations, it applies a flat rate of 21%. For other entities, it applies individual tax rates after standard deductions.
The logic would be quite complex, as such a calculator should have some predetermined variables (tax rates depending on the income, and tax brackets depending on the income & filing status).
The result should be either refund or owe. If total withholdings and estimated tax payments exceed the tax liability, the taxpayer gets a refund. If withholdings are less than the tax liability, the taxpayer owes the difference.
Do you know if I can create such a thing with Typeform? Or better go with a more calculators-oriented tool? Thank you so so much in advance!🙏🏽
