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#1
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Tax and Reverse Tax
I've made a function that works out that tax payable on an annual income.
However, I can't seem to find an analytical method to go backwards (i.e. work out the gross income from the net income) without using GoalSeek. Is there a way to implement GoalSeek automatically? Perhaps using a macro? Thanks for your time, |
#2
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Tax and Reverse Tax
=A1/117.5%
I don't know what your tax value you are using but this type of calculation will deduct 17.5% from the value in cell A1. I.e. Cell A1 = 100 the cell that you have this calculation in will say 85.10638 which is 17.5% OF 100 not on top off? Am I close or miles aways??? -- Message posted via OfficeKB.com http://www.officekb.com/Uwe/Forums.a...mming/200601/1 |
#3
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Tax and Reverse Tax
Sorry Crowbar, you're not that close.. :)
The tax I'm working out is for an income, using several tax brackets. That is, no tax on the first $6000, 17% for the next $15600, 30% on the next $30400 and so on. Because the function is not linear, it's hard to implement the reverse function (i.e. working out the gross income from the net income. This can be done using the GoalSeek tool, where the computer iteratively varies the gross income until the net income is the given value. Then the required gross income can be found. However this requires a manual call of the GoalSeek tool. Is there some way to implement this (probably using a Macro, although perhaps not?) so that a function called GROSS(NET) will return the gross income equivalent of a given net income? Thanks for your time, Atreides "Crowbar via OfficeKB.com" wrote: =A1/117.5% I don't know what your tax value you are using but this type of calculation will deduct 17.5% from the value in cell A1. I.e. Cell A1 = 100 the cell that you have this calculation in will say 85.10638 which is 17.5% OF 100 not on top off? Am I close or miles aways??? -- Message posted via OfficeKB.com http://www.officekb.com/Uwe/Forums.a...mming/200601/1 |
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