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Functions for weekly net pay, single, 1 witholding, no state tax?
I know that my witholding allowance is: $291.67
Income tax withholding is: $302.95 plus 28% SS Tax percent w/held: 6.2% Medicare Tax w/held: 1.45%. I do not pay State Taxes, and have no additional witholdings. I've built my spreadsheet to calculate my pay-per-period, and can get to the Gross Pay total, but am not Excel friendly enough to figure out how to use functions to calculate the above withholdings in order to determine my take-home pay. I've used the online paycheck calculators, which are accurate, but they don't tell me what formulas/functions were used. Help please! |
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