Try this:

=DATE(YEAR(TODAY()),1,1)

Does that help?
***********
Regards,
Ron

XL2002, WinXP


"Cactus1993" wrote:

Today is 07/29/2006, and I've entered that into cell A1 using the
formula =now()
In cell A2, I want to return the first day of the current year (i.e.
01/01/2006).
Is there an Excel formula you can create to do this, so that annual
spreadsheets can automatically updated using the =now() function as a
base date?
Thanks.