Federal tax withholding calculations - using IF statements..?
On Jul 9, 3:13 am, Ron Rosenfeld wrote:
The formula I wrote was designed to work with the Federal tax tables
using the logic with which they were constructed.
First, I freely admit that my comments were pedantic and much ado
about nothing. But since you take issue with them, I feel compelled
to elaborate.
Technically, your design (table and formula) does not follow the logic
of even the federal tables. By that I mean, for example, the federal
tables applies the 15% tax bracket only if the taxable income is
__over__ $389. But your design applies the 15% tax bracket if the
taxable income is __equal_to__ (or over) $389.
Nonetheless, as I noted previously, your design does work by accident
of implementation -- an "accident" that is very reasonable to expect,
I might add. By that I mean, for example, figuring the tax on $389
using the 15% bracket arrives at the same result as it would by using
the 10% bracket, as you should have.
So again, much ado about nothing.
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