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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1 comment:

  1. Ben FussinerSeptember 29, 2016 at 12:15 PM

    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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