Added taxes to simulation and fixed LoanBalance calculation from inCollege logic.

src/components/PremiumOnboarding/CollegeOnboarding.js

@@ -27,7 +27,7 @@ function CollegeOnboarding({ nextStep, prevStep, data, setData, careerPathId })
     loan_term = 10,
     extra_payment = '',
     expected_salary = '',
-    is_in_state = true,
+    is_in_state = false,
     is_in_district = false,
     loan_deferral_until_graduation = false,
     credit_hours_per_year = '',
@@ -335,6 +335,46 @@ function CollegeOnboarding({ nextStep, prevStep, data, setData, careerPathId })
       {(college_enrollment_status === 'currently_enrolled' ||
         college_enrollment_status === 'prospective_student') ? (
         <>
+        <label>
+            <input
+              type="checkbox"
+              name="is_in_district"
+              checked={is_in_district}
+              onChange={handleParentFieldChange}
+            />
+            In District?
+          </label>
+
+          <label>
+            <input
+              type="checkbox"
+              name="is_in_state"
+              checked={is_in_state}
+              onChange={handleParentFieldChange}
+            />
+            In State Tuition?
+          </label>
+
+          <label>
+            <input
+              type="checkbox"
+              name="is_online"
+              checked={is_online}
+              onChange={handleParentFieldChange}
+            />
+            Program is Fully Online
+          </label>
+
+          <label>
+            <input
+              type="checkbox"
+              name="loan_deferral_until_graduation"
+              checked={loan_deferral_until_graduation}
+              onChange={handleParentFieldChange}
+            />
+            Defer Loan Payments until Graduation?
+          </label>
+          
           <label>School Name*</label>
           <input
             name="selected_school"
@@ -509,45 +549,7 @@ function CollegeOnboarding({ nextStep, prevStep, data, setData, careerPathId })
             placeholder="e.g. 65000"
           />
 
-          <label>
+          
-            <input
-              type="checkbox"
-              name="is_in_district"
-              checked={is_in_district}
-              onChange={handleParentFieldChange}
-            />
-            In District?
-          </label>
-
-          <label>
-            <input
-              type="checkbox"
-              name="is_in_state"
-              checked={is_in_state}
-              onChange={handleParentFieldChange}
-            />
-            In State Tuition?
-          </label>
-
-          <label>
-            <input
-              type="checkbox"
-              name="is_online"
-              checked={is_online}
-              onChange={handleParentFieldChange}
-            />
-            Program is Fully Online
-          </label>
-
-          <label>
-            <input
-              type="checkbox"
-              name="loan_deferral_until_graduation"
-              checked={loan_deferral_until_graduation}
-              onChange={handleParentFieldChange}
-            />
-            Defer Loan Payments until Graduation?
-          </label>
         </>
       ) : (
         <p>Not currently enrolled or prospective student. Skipping college onboarding.</p>

src/utils/FinancialProjectionService.js

@@ -1,12 +1,70 @@
 import moment from 'moment';
 
-// Example fields in userProfile that matter here:
+/**
-//  - academicCalendar: 'semester' | 'quarter' | 'trimester' | 'monthly'
+ * Single-filer federal tax calculation (2023).
-//  - annualFinancialAid: amount of scholarships/grants per year
+ * Includes standard deduction ($13,850).
-//  - inCollege, loanDeferralUntilGraduation, graduationDate, etc.
+ * If you need to update the brackets/deduction, edit here.
-//
+ */
-// Additional logic now for lumps instead of monthly tuition payments.
+function calculateAnnualFederalTaxSingle(annualIncome) {
+  // 1. Subtract standard deduction
+  const STANDARD_DEDUCTION_SINGLE = 13850;
+  const taxableIncome = Math.max(0, annualIncome - STANDARD_DEDUCTION_SINGLE);
 
+  // 2. Define bracket thresholds & rates for single filers (2023)
+  // The 'limit' is the upper bound for that bracket segment.
+  // Use Infinity for the top bracket.
+  const brackets = [
+    { limit: 11000,    rate: 0.10 },
+    { limit: 44725,    rate: 0.12 },
+    { limit: 95375,    rate: 0.22 },
+    { limit: 182100,   rate: 0.24 },
+    { limit: 231250,   rate: 0.32 },
+    { limit: 578125,   rate: 0.35 },
+    { limit: Infinity, rate: 0.37 }
+  ];
+
+  let tax = 0;
+  let lastLimit = 0;
+
+  // 3. Accumulate tax across brackets
+  for (let i = 0; i < brackets.length; i++) {
+    const { limit, rate } = brackets[i];
+    if (taxableIncome <= limit) {
+      // only tax the portion within this bracket
+      tax += (taxableIncome - lastLimit) * rate;
+      break;
+    } else {
+      // tax the entire bracket range, then continue
+      tax += (limit - lastLimit) * rate;
+      lastLimit = limit;
+    }
+  }
+
+  return tax;
+}
+
+/**
+ * Calculate the standard monthly loan payment for principal, annualRate (%) and term (years).
+ */
+function calculateLoanPayment(principal, annualRate, years) {
+  if (principal <= 0) return 0;
+
+  const monthlyRate = annualRate / 100 / 12;
+  const numPayments = years * 12;
+
+  if (monthlyRate === 0) {
+    // no interest
+    return principal / numPayments;
+  }
+  return (
+    (principal * monthlyRate) /
+    (1 - Math.pow(1 + monthlyRate, -numPayments))
+  );
+}
+
+/**
+ * Main projection function with bracket-based tax logic for single filers.
+ */
 export function simulateFinancialProjection(userProfile) {
   const {
     // Income & expenses
@@ -18,8 +76,8 @@ export function simulateFinancialProjection(userProfile) {
 
     // Loan info
     studentLoanAmount = 0,
-    interestRate = 5,       // %
+    interestRate = 5,  // %
-    loanTerm = 10,          // years
+    loanTerm = 10,     // years
     loanDeferralUntilGraduation = false,
 
     // College & tuition
@@ -27,10 +85,10 @@ export function simulateFinancialProjection(userProfile) {
     programType,
     hoursCompleted = 0,
     creditHoursPerYear,
-    calculatedTuition,   // e.g. annual tuition
+    calculatedTuition,  
-    gradDate,                    // known graduation date, or null
+    gradDate,                   
-    startDate,                   // when sim starts
+    startDate,                  
-    academicCalendar = 'monthly', // new
+    academicCalendar = 'monthly',
     annualFinancialAid = 0,
 
     // Salary after graduation
@@ -45,15 +103,17 @@ export function simulateFinancialProjection(userProfile) {
     monthlyEmergencyContribution = 0,
 
     // Surplus allocation
-    surplusEmergencyAllocation = 50,  
+    surplusEmergencyAllocation = 50,
     surplusRetirementAllocation = 50,
 
     // Potential override
     programLength
   } = userProfile;
 
-  // 1. Calculate standard monthly loan payment
+  // 1. Calculate standard monthly loan payment (if not deferring)
-  const monthlyLoanPayment = calculateLoanPayment(studentLoanAmount, interestRate, loanTerm);
+  let monthlyLoanPayment = loanDeferralUntilGraduation
+    ? 0
+    : calculateLoanPayment(studentLoanAmount, interestRate, loanTerm);
 
   // 2. Determine how many credit hours remain
   let requiredCreditHours = 120;
@@ -83,14 +143,11 @@ export function simulateFinancialProjection(userProfile) {
 
   // 4. Setup lumps per year based on academicCalendar
   let lumpsPerYear = 12; // monthly fallback
-  let lumpsSchedule = []; // which months from start of academic year
+  let lumpsSchedule = []; 
-
-  // We'll store an array of month offsets in a single year (0-based)
-  // for semester, quarter, trimester
   switch (academicCalendar) {
     case 'semester':
       lumpsPerYear = 2;
-      lumpsSchedule = [0, 6]; // months 0 & 6 from start of each academic year
+      lumpsSchedule = [0, 6]; 
       break;
     case 'quarter':
       lumpsPerYear = 4;
@@ -106,102 +163,132 @@ export function simulateFinancialProjection(userProfile) {
       lumpsSchedule = [...Array(12).keys()]; // 0..11
       break;
   }
-
-  // Each academic year is 12 months, for finalProgramLength years => totalAcademicMonths
   const totalAcademicMonths = finalProgramLength * 12;
-  // Each lump sum = totalTuitionCost / (lumpsPerYear * finalProgramLength)
   const lumpAmount = totalTuitionCost / (lumpsPerYear * finalProgramLength);
 
-  // 5. We'll loop for up to 20 years
+  // 5. Simulation loop up to 20 years
   const maxMonths = 240;
   let date = startDate ? new Date(startDate) : new Date();
-  let loanBalance = studentLoanAmount;
+
+  let loanBalance = Math.max(studentLoanAmount, 0);
   let loanPaidOffMonth = null;
+
   let currentEmergencySavings = emergencySavings;
   let currentRetirementSavings = retirementSavings;
-  let projectionData = [];
 
-  // Convert gradDate to actual if present
+  let projectionData = [];
+  let wasInDeferral = inCollege && loanDeferralUntilGraduation;
+
+  // If gradDate is provided, parse it to Date
   const graduationDate = gradDate ? new Date(gradDate) : null;
 
+  // Keep a map of year => { ytdGross, ytdTaxSoFar } for bracket-based taxes
+  const taxStateByYear = {};
+
   for (let month = 0; month < maxMonths; month++) {
     date.setMonth(date.getMonth() + 1);
-   
+    const currentYear = date.getFullYear();
 
-    // If loan is fully paid, record if not done already
+    // If loan is fully paid, record if not already done
     if (loanBalance <= 0 && !loanPaidOffMonth) {
-      loanPaidOffMonth = `${date.getFullYear()}-${String(date.getMonth() + 1).padStart(2, '0')}`;
+      loanPaidOffMonth = `${currentYear}-${String(date.getMonth() + 1).padStart(2, '0')}`;
     }
 
-    // Are we still in college? We either trust gradDate or approximate finalProgramLength
+    // Determine if user is still in college (trusted gradDate or approximate)
     let stillInCollege = false;
     if (inCollege) {
       if (graduationDate) {
         stillInCollege = date < graduationDate;
       } else {
-        // approximate by how many months since start
         const simStart = startDate ? new Date(startDate) : new Date();
         const elapsedMonths =
           (date.getFullYear() - simStart.getFullYear()) * 12 +
           (date.getMonth() - simStart.getMonth());
         stillInCollege = (elapsedMonths < totalAcademicMonths);
       }
-      console.log(`MONTH ${month} start: inCollege=${stillInCollege}, loanBal=${loanBalance}`);
     }
 
-    // 6. If we pay lumps: check if this is a "lump" month within the user's academic year
+    // 6. Check if we owe tuition lumps this month
-    // We'll find how many academic years have passed since they started
     let tuitionCostThisMonth = 0;
     if (stillInCollege && lumpsPerYear > 0) {
-      
       const simStart = startDate ? new Date(startDate) : new Date();
       const elapsedMonths =
         (date.getFullYear() - simStart.getFullYear()) * 12 +
         (date.getMonth() - simStart.getMonth());
 
-      // Which academic year index are we in?
       const academicYearIndex = Math.floor(elapsedMonths / 12);
-      // Within that year, which month are we in? (0..11)
       const monthInYear = elapsedMonths % 12;
-      console.log("  lumps logic check: academicYearIndex=", academicYearIndex, "monthInYear=", monthInYear);
+
-      // If we find monthInYear in lumpsSchedule, then lumps are due
       if (lumpsSchedule.includes(monthInYear) && academicYearIndex < finalProgramLength) {
         tuitionCostThisMonth = lumpAmount;
       }
     }
 
-    // 7. Decide if user defers or pays out of pocket
+    // 7. Detect if we are now exiting college this month
-    //    If deferring, add lumps to loan
+    const nowExitingCollege = (wasInDeferral && !stillInCollege);
+
+    // 8. If in deferral, lumps get added to the loan principal
     if (stillInCollege && loanDeferralUntilGraduation) {
-      console.log("  deferral is on, lumps => loan?");
-      // Instead of user paying out of pocket, add to loan
       if (tuitionCostThisMonth > 0) {
-        console.log("  tuitionCostThisMonth=", tuitionCostThisMonth);
         loanBalance += tuitionCostThisMonth;
-        tuitionCostThisMonth = 0; // paid by the loan
+        tuitionCostThisMonth = 0; 
       }
     }
 
-    // 8. monthly income
+    // 9. Gross monthly income depends on college status
-    let monthlyIncome = 0;
+    let grossMonthlyIncome = 0;
     if (!inCollege || !stillInCollege) {
-      // user has graduated or never in college
+      // Graduated or never was in college => use expectedSalary if given
-      monthlyIncome = (expectedSalary > 0 ? expectedSalary : currentSalary) / 12;
+      grossMonthlyIncome = (expectedSalary > 0 ? expectedSalary : currentSalary) / 12;
     } else {
-      // in college => currentSalary + partTimeIncome
+      // Still in college => currentSalary + part-time
-      monthlyIncome = (currentSalary / 12) + (partTimeIncome / 12);
+      grossMonthlyIncome = (currentSalary / 12) + (partTimeIncome / 12);
     }
 
-    // 9. mandatory expenses (excluding student loan if deferring)
+    /**
+     * 10. Calculate monthly TAX via bracket-based approach:
+     *     We track year-to-date (YTD) for the current calendar year.
+     */
+    if (!taxStateByYear[currentYear]) {
+      taxStateByYear[currentYear] = { ytdGross: 0, ytdTaxSoFar: 0 };
+    }
+
+    // Add this month’s gross to YTD
+    taxStateByYear[currentYear].ytdGross += grossMonthlyIncome;
+
+    // Calculate total tax for YTD
+    const annualTaxSoFar = calculateAnnualFederalTaxSingle(
+      taxStateByYear[currentYear].ytdGross
+    );
+
+    // This month’s tax = (new YTD tax) - (old YTD tax)
+    const monthlyTax = annualTaxSoFar - taxStateByYear[currentYear].ytdTaxSoFar;
+
+    // Update YTD tax
+    taxStateByYear[currentYear].ytdTaxSoFar = annualTaxSoFar;
+
+    // Net monthly income after tax
+    const netMonthlyIncome = grossMonthlyIncome - monthlyTax;
+
+    // 11. Monthly expenses (excluding student loan if deferring)
     let thisMonthLoanPayment = 0;
     let totalMonthlyExpenses = monthlyExpenses + monthlyDebtPayments + tuitionCostThisMonth;
 
+    // Re-amortize if we're just now exiting college
+    if (nowExitingCollege) {
+      monthlyLoanPayment = calculateLoanPayment(
+        loanBalance,
+        interestRate,
+        10 // fresh 10-year term post-college
+      );
+    }
+
+    // 12. If still deferring, just accrue interest
     if (stillInCollege && loanDeferralUntilGraduation) {
-      // Accrue interest only
       const interestForMonth = loanBalance * (interestRate / 100 / 12);
       loanBalance += interestForMonth;
     } else {
-      // Normal loan repayment if loan > 0
+      // Normal repayment if loan > 0
       if (loanBalance > 0) {
         const interestForMonth = loanBalance * (interestRate / 100 / 12);
         const principalForMonth = Math.min(
@@ -210,16 +297,15 @@ export function simulateFinancialProjection(userProfile) {
         );
         loanBalance -= principalForMonth;
         loanBalance = Math.max(loanBalance, 0);
+
         thisMonthLoanPayment = monthlyLoanPayment + extraPayment;
         totalMonthlyExpenses += thisMonthLoanPayment;
       }
     }
 
-    // 10. leftover after mandatory expenses
+    // 13. leftover after mandatory expenses
-    let leftover = monthlyIncome - totalMonthlyExpenses;
+    let leftover = netMonthlyIncome - totalMonthlyExpenses;
-    if (leftover < 0) {
+    if (leftover < 0) leftover = 0;
-      leftover = 0; // can't do partial negative leftover; they simply can't afford it
-    }
 
     // Baseline monthly contributions
     const baselineContributions = monthlyRetirementContribution + monthlyEmergencyContribution;
@@ -231,91 +317,69 @@ export function simulateFinancialProjection(userProfile) {
       effectiveEmergencyContribution = monthlyEmergencyContribution;
       leftover -= baselineContributions;
     } else {
-      // not enough leftover
+      // Not enough leftover => zero out contributions
-      // for real life, we typically set them to 0 if we can't afford them
-      // or reduce proportionally. We'll do the simpler approach: set them to 0
-      // as requested.
       effectiveRetirementContribution = 0;
       effectiveEmergencyContribution = 0;
     }
 
-    // 11. Now see if leftover is negative => shortfall from mandatory expenses
+    // Check for shortfall vs. mandatory expenses
-    // Actually we zeroed leftover if it was negative. So let's check if the user
-    // truly can't afford mandatoryExpenses
-    const totalMandatoryPlusContrib = monthlyIncome - leftover;
     const totalWantedContributions = effectiveRetirementContribution + effectiveEmergencyContribution;
     const actualExpensesPaid = totalMonthlyExpenses + totalWantedContributions;
-    let shortfall = actualExpensesPaid - monthlyIncome; // if positive => can't pay
+    let shortfall = actualExpensesPaid - netMonthlyIncome;
-    console.log("  end of month: loanBal=", loanBalance, " shortfall=", shortfall);
     if (shortfall > 0) {
-      console.log("  Breaking out - bankrupt scenario");
+      // Attempt to cover from emergency savings
       const canCover = Math.min(shortfall, currentEmergencySavings);
       currentEmergencySavings -= canCover;
       shortfall -= canCover;
       if (shortfall > 0) {
+        // Even after emergency, we can't cover => break (bankrupt scenario)
         break;
       }
     }
 
-    // 12. If leftover > 0 after baseline contributions, allocate surplus
+    // 14. Surplus allocation if leftover > 0
-    // (we do it after we've handled shortfall)
+    const newLeftover = leftover;
-    const newLeftover = leftover; // leftover not used for baseline
-    let surplusUsed = 0;
     if (newLeftover > 0) {
-      // Allocate by percent
+      // Allocate by percentage
       const totalPct = surplusEmergencyAllocation + surplusRetirementAllocation;
       const emergencyPortion = newLeftover * (surplusEmergencyAllocation / totalPct);
       const retirementPortion = newLeftover * (surplusRetirementAllocation / totalPct);
 
       currentEmergencySavings += emergencyPortion;
       currentRetirementSavings += retirementPortion;
-      surplusUsed = newLeftover;
     }
 
-    // 13. netSavings is monthlyIncome - actual expenses - all contributions
+    // 15. netSavings for the month (could be leftover minus contributions, etc.)
-    // But we must recalc actual final expenses paid
+    // But we already subtracted everything from netMonthlyIncome except what ended up surplus
-    const finalExpensesPaid = totalMonthlyExpenses + (effectiveRetirementContribution + effectiveEmergencyContribution);
+    const finalExpensesPaid = totalMonthlyExpenses + totalWantedContributions;
-    const netSavings = monthlyIncome - finalExpensesPaid;
+    const netSavings = netMonthlyIncome - finalExpensesPaid;
 
+    // Record in the projection data
     projectionData.push({
       month: `${date.getFullYear()}-${String(date.getMonth() + 1).padStart(2, '0')}`,
-      monthlyIncome,
+      grossMonthlyIncome: Math.round(grossMonthlyIncome * 100) / 100,
-      totalExpenses: finalExpensesPaid,
+      monthlyTax: Math.round(monthlyTax * 100) / 100,
-      effectiveRetirementContribution,
+      netMonthlyIncome: Math.round(netMonthlyIncome * 100) / 100,
-      effectiveEmergencyContribution,
+      totalExpenses: Math.round(finalExpensesPaid * 100) / 100,
-      netSavings,
+      effectiveRetirementContribution: Math.round(effectiveRetirementContribution * 100) / 100,
-      emergencySavings: currentEmergencySavings,
+      effectiveEmergencyContribution: Math.round(effectiveEmergencyContribution * 100) / 100,
-      retirementSavings: currentRetirementSavings,
+      netSavings: Math.round(netSavings * 100) / 100,
+      emergencySavings: Math.round(currentEmergencySavings * 100) / 100,
+      retirementSavings: Math.round(currentRetirementSavings * 100) / 100,
       loanBalance: Math.round(loanBalance * 100) / 100,
-      loanPaymentThisMonth: thisMonthLoanPayment
+      loanPaymentThisMonth: Math.round(thisMonthLoanPayment * 100) / 100
     });
+
+    // Update deferral flag for next iteration
+    wasInDeferral = (stillInCollege && loanDeferralUntilGraduation);
   }
 
-  // Return final
+  // Return the final output
   return {
     projectionData,
     loanPaidOffMonth,
-    finalEmergencySavings: currentEmergencySavings,
+    finalEmergencySavings: Math.round(currentEmergencySavings * 100) / 100,
-    finalRetirementSavings: currentRetirementSavings,
+    finalRetirementSavings: Math.round(currentRetirementSavings * 100) / 100,
     finalLoanBalance: Math.round(loanBalance * 100) / 100
   };
 }
-
-/**
- * Calculate the standard monthly loan payment for principal, annualRate (%) and term (years)
- */
-function calculateLoanPayment(principal, annualRate, years) {
-  if (principal <= 0) return 0;
-
-  const monthlyRate = annualRate / 100 / 12;
-  const numPayments = years * 12;
-
-  if (monthlyRate === 0) {
-    // no interest
-    return principal / numPayments;
-  }
-  return (
-    (principal * monthlyRate) /
-    (1 - Math.pow(1 + monthlyRate, -numPayments))
-  );
-}