Hello all!
I am an extreme novice at MSOE, and trying to figure out a formula that looks for certain criteria, and if that certain criteria is met in one particular cell, then it uses the criteria as a part in the calculation for an answer in the cell it is to be calculated in...this is for specifically, calculating taxes withdrawn from the gross income if the gross meets the criteria for a certain tax bracket...for example:
if the gross= greater than $44 but is less than $224, then the gross is multiplied by .10 to return the answer. So, if gross is $60, then the formula returns the value of $6 for withholding. If gross=greater than $224 but is less than $774, then the gross is multiplied by .15 to return the answer ($300*.15=$45 to be withdrawn) etc, etc.
so far i have the following formula:
=IF(J27<44,J27>224,0.1*J27)
i cannot add any more tiers, because excel tells me there's too many arguments, so i am stuck on only having this ONE calculation return an answer. i have tried the following:
=IF(J27<44,J27>224,0.1*J27, IF(J27<224, J27>774,J27*.15,IF(J27<774,J27>1812,J27*.25)))
AGAIN, using the above formula, Excel tells me there's too many arguments.
How do i accomplish my mission???
someone on stack exchange suggested for me to link a tax table and use VLOOKUP, or to make another sheet with the values set for indexing and VLOOKUP, but i cannot do that. the file is already almost too big to email, and i am having enough trouble trying to understand how to work with excel, as I only use it for simple things mostly.
please do not be insulting or degrading to me in answering this question. again, i am trying to learn here. Please keep in mind, i likely don't understand a lot of "excel talk".
I am an extreme novice at MSOE, and trying to figure out a formula that looks for certain criteria, and if that certain criteria is met in one particular cell, then it uses the criteria as a part in the calculation for an answer in the cell it is to be calculated in...this is for specifically, calculating taxes withdrawn from the gross income if the gross meets the criteria for a certain tax bracket...for example:
if the gross= greater than $44 but is less than $224, then the gross is multiplied by .10 to return the answer. So, if gross is $60, then the formula returns the value of $6 for withholding. If gross=greater than $224 but is less than $774, then the gross is multiplied by .15 to return the answer ($300*.15=$45 to be withdrawn) etc, etc.
so far i have the following formula:
=IF(J27<44,J27>224,0.1*J27)
i cannot add any more tiers, because excel tells me there's too many arguments, so i am stuck on only having this ONE calculation return an answer. i have tried the following:
=IF(J27<44,J27>224,0.1*J27, IF(J27<224, J27>774,J27*.15,IF(J27<774,J27>1812,J27*.25)))
AGAIN, using the above formula, Excel tells me there's too many arguments.
How do i accomplish my mission???
someone on stack exchange suggested for me to link a tax table and use VLOOKUP, or to make another sheet with the values set for indexing and VLOOKUP, but i cannot do that. the file is already almost too big to email, and i am having enough trouble trying to understand how to work with excel, as I only use it for simple things mostly.
please do not be insulting or degrading to me in answering this question. again, i am trying to learn here. Please keep in mind, i likely don't understand a lot of "excel talk".
