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joeu2004 joeu2004 is offline
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Default Federal tax withholding calculations - using IF statements..?

On Jul 8, 3:56 pm, clintjjohnson wrote:
I want to create a statement to calculate appropriate federal tax
withholding amounts based on gross income
[....]
Now...how do I pull these all together into one statment that will look
at the gross income figure in cell D6 and produce the correct withholding
figure


There are many ways to do this, each with their pros and cons.

Ostensibly (based on the table for Biweekly Single, which are the
numbers that you used):

=round(max((D6-102)*10%, (D6-389)*15%+28.70, (D6-1289)*25%+163.70,
(D6-2964)*28%+582.45, (D6-6262)*33%+1505.89, (D6-13525)*35%+3902.68),
2)

However, note that D6 is the amount subject to withholding, which is
the gross wages less pretax deductions and the withholding allowance.
If D4 is the gross wages less pretax deductions and D5 is the number
of allowances, D6 would be:

=D4 - 130.77*D5