computing taxes

[websterja1983]

I am a rock when it comes to this stuff. I need to have a cell compute monthly federal taxes based on the income tables. I have no idea how to set up the tables or use the formulas. I know this is asking a lot but any help is always appreciated. Thanks.

 

[websterja1983]

=SUMPRODUCT(--((((H8-H32)*12)-(3400*D25))>CHOOSE(MATCH(C25,{"SINGLE","MARRIED"},0),$AB$28:$AB$34,$AD$28:$AD$34)),(H8-H32)-CHOOSE(MATCH(C25,{"SINGLE","MARRIED"},0),$AB$28:$AB$34,$AD$28:$AD$34),CHOOSE(MATCH(C25,{"SINGLE","MARRIED"},0),$AC$28:$AC$34,$AE$28:$AE$34))

The taxable income involves other cells, so I substituted (((H8-H32)*12)-(3400*D25)) in its place.

 

[Domenic]

What does...

((H8-H32)*12)-(3400*D25)

...compute to?

 

[websterja1983]

H8 is monthly pay ($2500.00), H32 is tax exempt portion ($0.00 in this case), D25 is the number of claimed exemptions (3). So....
(($2500.00-$0.00)*12)-($3400.00*3)
or $30000.00-$10200.00=$19800.00

 

[Domenic]

Okay, it looks like the problem may lie in the tables. Can you post the tables for both single ($AB$28:$AC$34) and married ($AD$28:$AE$34)?

 

[websterja1983]

SINGLE MARRIED
$0.00, 0.00, $0.00, 0.00
$2,650.00, 0.10, $8,000.00, 0.10
$10,120.00, 0.05, $23,350.00, 0.05
$33,520.00, 0.10, $70,700.00, 0.10
$77,075.00, 0.03 $133,800.00, 0.03
$162,800.00, 0.05 $203,150.00, 0.05
$351,650.00, 0.02 $357,000.00, 0.02

I can't get this to keep the spacing, so I placed commas where the cells are separated.

 

[Domenic]

Hmmm... the tables seem fine. If you'd like, send me your email address by Private Message and I'll send you a sample file.

 

[Domenic]

Sample file sent...

 

[websterja1983]

I copied the formula and replaced your A2 and B2 with my info and this time it worked. I didn't see where it was messed up before, but who cares! Thanks for all your help, I owe you one.

 

[Domenic]

It looks like there was a typo in your formula. I didn't notice it until now, but the second...

(((H8-H32)*12)-(3400*D25)

...in the formula wasn't correct. Anyway, glad you've sorted it out.