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Default If formula producing #VALUE Error

I'm trying to set up a spreadsheet that has a contiguous set of dates that decrease by 7 days each row. I want it to stop at January 1st of every year (ideally, I'd like to not hardcode the year, but I did it that way as a test run). I tried this formula:

=IF(OR($A35=DATE(2012,1,1),""),"",$A35-7)

But I'm getting a #VALUE error. My dates are formatted as a date in M/D/YYYY format. It works fine without the "OR" statement (so it's not flagging empty cells). If the cell is blank without the OR, then I get #VALUE error (that one I understand). It seems that adding the blank cell conditional is messing things up. Any help is appreciated!

Last edited by KeriM : August 16th 12 at 05:46 PM Reason: Added more information
 
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