View Single Post
  #6   Report Post  
Posted to microsoft.public.excel.worksheet.functions
clintjjohnson clintjjohnson is offline
external usenet poster
 
Posts: 2
Default Federal tax withholding calculations - using IF statements..?

Thank you, that does the trick - being totally unfamiliar with just how those
functions work, I'm amazed... <g I really appreciate your reply.

This will be used for only one "employee", there are no pretax deductions
and the withholding allowance will not change from the fixed "130.77" figure.
I've changed the formula slightly to accomodate this (where 130.77 is in cell
F6):
((D6-F6-102)*10%...

One further tweak would be nice - how do I prevent it from displaying
anything in its cell if D6 (the gross income) is empty?
--
- Clint Johnson


"joeu2004" wrote:

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