Struct EmploymentScenario 

pub struct EmploymentScenario {
    pub hourly_rate: f32,
    pub hours_per_week: f32,
    pub filing_status: FilingStatus,
    pub pretax_deductions: PreTaxDeductions,
    pub posttax_deductions: PostTaxDeductions,
}

Represents an employment scenario with hourly rate, hours worked per week, filing status, and deductions. Possible deductions avaialable are defined in the deductions module.

Example

use paycheck_utils::FilingStatus;
use paycheck_utils::EmploymentScenario;
use paycheck_utils::PreTaxDeductions;
use paycheck_utils::PreTaxDeduction;
use paycheck_utils::PostTaxDeductions;
use paycheck_utils::PostTaxDeduction;

let new_job_scenario = EmploymentScenario::new(
    30.0, // hourly rate
    40.0, // hours per week
    FilingStatus::Single, // filing status
    PreTaxDeductions::new(vec![
        PreTaxDeduction::Medical(Some(150.0)),
        PreTaxDeduction::Dental(Some(50.0)),
        PreTaxDeduction::Vision(Some(15.0)),
        PreTaxDeduction::Traditional401K(Some(200.0)),
    ]), // pre-tax deductions
    PostTaxDeductions::new(vec![PostTaxDeduction::Roth401K(Some(100.0))]) // post-tax deductions
);

Fields

hourly_rate: f32

hours_per_week: f32

filing_status: FilingStatus

pretax_deductions: PreTaxDeductions

posttax_deductions: PostTaxDeductions

Implementations

impl EmploymentScenario

pub fn new( hourly_rate: f32, hours_per_week: f32, filing_status: FilingStatus, pretax_deductions: PreTaxDeductions, posttax_deductions: PostTaxDeductions, ) -> Self

pub fn calculate_net_paycheck(&self) -> f32

Calculates the net paycheck based on the employment scenario’s parameters. The calculations consider gross income, pre-tax deductions, federal tax withholdings, Social Security, Medicare, and post-tax deductions. The IRS defined constants used to make calculations (such as tax rates, thresholds and standard deductions) are defined in the utils module. This IRS method and flow for calculating withholdings is based on the 2026 federal tax year guidelines and can be summarized as follows:

1. Calculate gross paycheck on hourly rate and hours worked.
2. Subtract pre-tax deductions from gross paycheck to get adjusted gross paycheck.
3. Calculate federal tax withholdings based on annualized adjusted gross paycheck and filing status.
4. Calculate Social Security and Medicare withholdings based on adjusted gross paycheck.
5. Subtract federal tax withholdings, Social Security, Medicare, and post-tax deductions from adjusted gross paycheck to get net paycheck.

Example

use paycheck_utils::PostTaxDeduction;
use paycheck_utils::PreTaxDeduction;
use paycheck_utils::FilingStatus;
use paycheck_utils::EmploymentScenario;
use paycheck_utils::PreTaxDeductions;
use paycheck_utils::PostTaxDeductions;

let pretax_deductions = PreTaxDeductions::new(vec![
    PreTaxDeduction::Medical(Some(100.0)),
    PreTaxDeduction::Dental(Some(50.0)),
    PreTaxDeduction::Vision(Some(25.0)),
    PreTaxDeduction::Traditional401K(Some(200.0)),
    PreTaxDeduction::HSA(Some(150.0)),
]); // total = 525.0
let posttax_deductions = PostTaxDeductions::new(vec![
    PostTaxDeduction::Roth401K(Some(100.0)),
    PostTaxDeduction::VoluntaryLife(Some(30.0)),
]); // total = 130.0
let scenario = EmploymentScenario::new(
    25.0, // hourly rate
    45.0, // hours per week (bi-weekly paycheck = 90 hours [10 hours overtime])
    FilingStatus::Single, // single filing status for standard deduction
    pretax_deductions, // total = 525.0
    posttax_deductions // total = 130.0
);
let net_paycheck = scenario.calculate_net_paycheck();
assert_eq!(net_paycheck, 1440.33);

// Explanation of calculation:
// 1. Gross Paycheck: (25.0 * 80) + (25.0 * 10 * 1.5) = 2000.0 + 375.0 = 2375.0
// 2. Adjusted Gross Paycheck: 2375.0 - 525.0 = 1850.0  (after pre-tax deductions)
// 3. Federal Withholding (annualized AGP = 1850.0 * 26 = 48100.0): Using 2026 tax brackets for Single filer:
//    - 10% on first 12,400 = 12,400 * 0.10 = 1,240.0
//    - 12% on amount over 12,400 up to 50,400 = (48,100.0 - 12,400.0) * 0.12 = 4,290.0
//    - Total annual federal tax = 1,240.0 + 4,290.0 = 5,530.0
//    - Bi-weekly federal withholding = 5,530.0 / 26 = 212.69
// 4. Social Security Withholding: 1850.0 * 0.062 = 114.70
// 5. Medicare Withholding: 1850.0 * 0.0145 = 26.83
// 6. Post-Tax Deductions: 100.0 + 30.0 = 130.0
// 7. Total Deductions: 212.69 + 114.70 + 26.83 + 130.0 = 484.22
// 8. Net Paycheck: 1850.0 - 212.69 - 114.70 - 26.83 - 130.0 = 1440.33

Returns

An f32 representing the calculated net paycheck amount.

Panics

This function does not explicitly panic, but it assumes that the input values (hourly rate, hours worked, deductions) are valid and reasonable.

Errors

This function does not return errors, but invalid input values may lead to incorrect calculations.

Notes

The calculations are based on the 2026 federal tax year guidelines and may need to be updated for future tax years.