excel income tax calc help
October 13, 2012 6:00 PM Subscribe
Excel help: I'm trying to input a dollar value into a cell and have the output be the federal income tax for that amount (just using the brackets). Federal income tax is calculated such that the first x dollars are taxed at rate R, the next y dollars are taxed at rate S, and up through several different rate brackets. I can do this calculation with a simple IF statement using multiple cells by summing the result of 5 separate bracket calculations. I'm not sure if I can cram it into one giant formula. Suggestions?
posted by leotrotsky to Computers & Internet (4 answers total) 1 user marked this as a favorite
alternatively, is there any way to ask excel to put value x is cell c, and then to output the result of cell d? eg, if cell c = value in cell x, return value of cell d that would result? (assuming changing cell c affects value of cell d).