Hmmmmmmmmmmm........... I don't know what happened there?

I have used the forumula John supplied and compared it to some known bank
calculators, as there was a slight difference in results I followed up on a
number of options (hence the posts). Since then I have noted that results
from the same gross figure entered is different in all the bank calculators I
have used. So I am a little more relaxed about the eventual outcome.

Once again thank you for all your help.

Cheers Scott

"Bill Kuunders" wrote:

I didn't see any answer............................
in your reply. (:(:

Bill K
NZ

"Scoober" wrote in message
...


"Bill Kuunders" wrote:

I have a huge respect for Harry and Ron. They help a lot of people
understand the use of excel.
However the formula which is explained by John? McGimpsey does do it all
without any tables.
I'm wondering why you haven't tried this.
Did it not work?

Bill K
NZ

"Ron Rosenfeld" wrote in message
...
On Sat, 6 Dec 2008 21:11:01 -0800, Scoober

wrote:

Thanks Ron,

I understand what you have discribed to do, but have no understanding
of
setting up a tax table, sorry?

Cheers Scott

Sorry, I thought it would be obvious.

The table contains the values from which the tax is computed.

You "set it up" by entering those values in a range of cells in the
manner
in
which I posted.

You could have pasted it directly into your spreadsheet.

To be more specific:

Set up this table and NAME it TaxTbl (or use the absolute address
reference):

$ 0 0.00 12.5%
$17,500 $2,187.50 21%
$40,000 $6,912.50 33%
$75,000 $18,462.50 39%

The middle column is the cumulative tax paid on the amount in the first
column,
so can be given by a formula:

Assume table is in H1:J4

I1: 0
I2: =J1*(H2-H1)+I1

and fill down to I4

So you would make the following entries:

H1: $0
I1: $0
J1: 12.5%
H2: $17,500
I2: 2187.5
J2: 21.0%
H3: $40,000
I3: 6912.5
J3: 33.0%
H4: $75,000
I4: 18462.5
J4: 39.0%

OR, you could use formulas in column I:

H1: $0
I1: $0
J1: 12.5%
H2: $17,500
I2: =J1*(H2-H1)+I1
J2: 21.0%
H3: $40,000
I3: =J2*(H3-H2)+I2
J3: 33.0%
H4: $75,000
I4: =J3*(H4-H3)+I3
J4: 39.0%

OR, you could just copy/paste the table I posted in my initial response
to
you.

With regard to the formula in A2, you could use either the one I posted
previously:

=VLOOKUP(A1,TaxTbl,2)+
(A1-VLOOKUP(A1,TaxTbl,1))*
VLOOKUP(A1,TaxTbl,3)

Or, if you can't figure out how to NAME a range in Excel by using HELP,
you can
substitute the actual cell references:

=VLOOKUP(A1,H1:J4,2)+
(A1-VLOOKUP(A1,H1:J4,1))*
VLOOKUP(A1,H1:J4,3)

If you put your Tax Table someplace else, you will need to adjust the
range
references to reflect that new location.
--ron