Advanced Excel Help

[jwright]

I am trying to calculate tax liability using marginal tax rates in Excel. I think I can use a convoluted IF statement but I am getting stuck.

In English: If Cell G17 is less than 17,000, multiply by 10%, but if Cell G17 is between 17,001 and 69,000 mulitply by 15% and subtract 850

In Excel: =IF(G17<17,000,G17*.10,0)

How do I do the next qualifier within the same formula? OR?

Thanks for any help.

[Laura Palmer]

Instead of putting 0 at the end of that function, use another if statement.

[jwright]

OK so now it looks like

IF(G17<17,000,G17*.10,IF(AND(G17>17,001,G17<69,000,(G17*.15)-850)

And I am getting an error. Is the AND correct?

[hocus]

No "and"

The XXX will be what you want to happen if the value is over 69,000

IF(G17<17,000,G17*.10,IF(<=69,000,(G17*.15)-850,XXX)

[jwright]

Dec 19, 2012 10:57:27 GMT -5 hocus said:

No "and"

The XXX will be what you want to happen if the value is over 69,000

IF(G17<17,000,G17*.10,IF(<=69,000,(G17*.15)-850,XXX)

This is working yay!! Thanks so much!

One last issue, I need to get all the tax brackets in there but it says I have entered too many arguments for this function. Is there a cutoff? I just need to enter one more!

[Deleted]

Dec 19, 2012 11:30:58 GMT -5 jwright said:

This is working yay!! Thanks so much!

One last issue, I need to get all the tax brackets in there but it says I have entered too many arguments for this function. Is there a cutoff? I just need to enter one more!

What's the next one? 25%?

=IF(G17<=17000,G17*0.1,IF(G17<=69000,G17*0.15-850,G17*0.25-7750))

[jwright]

Dec 19, 2012 12:19:45 GMT -5 d0ri said:

Dec 19, 2012 11:30:58 GMT -5 jwright said:

This is working yay!! Thanks so much!

One last issue, I need to get all the tax brackets in there but it says I have entered too many arguments for this function. Is there a cutoff? I just need to enter one more!

What's the next one? 25%?

=IF(G17<=17000,G17*0.1,IF(G17<=69000,G17*0.15-850,G17*0.25-7750))

No I entered 25%, 28%, and 33%, but when I want to add 35% is says I have too many requirements.

[wiffle]

Dec 19, 2012 12:06:35 GMT -5 RockNVoll said:

Charky's is almost right but doesn't account for the 17,000<G17<69000 requirement (won't set 17,001 as the lower boundary). I think this is the correct formula:

=IF(G17<17000,G17*0.1,IF(AND(G17>=17001,G17<=69000),G17*0.15-850,""))

What's the last argument you want to add, in plain English? There isn't really a limit to the number you can include.

This formula is correct. Just copy the last "if" statement and paste it at the end (inside all of the parenthesis). I think you can only stack 7 "if" statements in excel but you shouldn't reach that point in this situation. Hope that makes sense.