Thursday, September 29, 2016
I Figured Out a Formula in Excel!
I know this isn't exciting to anyone but me, but I'm trying to create an excel spreadsheet that can calculate (simplified) taxes for a variety of different taxpayers. I REALLY don't know how to use Excel, but I figured out how to write a formula to calculate tax due from the 2015 tax rate schedule once taxable income is known. The formula is: =(A4*0.1)+(MAX(A4-13150,0)*0.05)+(MAX(A4-50200,0)*0.1)+(MAX(A4-129600,0)*0.003)+(MAX(A4-209850,0)*0.05)+(MAX(A4-411500,0)*0.02)+(MAX(A4-439000,0)*0.046), where A4=taxable income. It's a little victory for me. By the way, if anyone who is reading this knows anything about excel, I could probably use a tutorial.
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So confusing that A4 stands for taxable income when you are living in a country where A4 stands for letter size paper.
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