J
jrbergmann
I am trying to build a spreadsheet for client use that takes a given income, in a given month and applies the appropriate marginal rate to that month.
For example, Jan income in column A would show pretax deductions, state tax, FICA tax and then Federal tax.
I would like the income, say 10k in Jan taxed at 10% and then the next months income say 13k, Column B, taxed at the proportionate 10% up to 17,700, with the remaining amount taxed at the next marginal rate of 15%.
I would like to continue this progressive calc throughout the year, adding additional variable income per month that is taxed at the appropriate marginal level.
Thanks!
For example, Jan income in column A would show pretax deductions, state tax, FICA tax and then Federal tax.
I would like the income, say 10k in Jan taxed at 10% and then the next months income say 13k, Column B, taxed at the proportionate 10% up to 17,700, with the remaining amount taxed at the next marginal rate of 15%.
I would like to continue this progressive calc throughout the year, adding additional variable income per month that is taxed at the appropriate marginal level.
Thanks!