Help with a financial formula

Hello,

I need a combined SUM function and an IF greater than X then subtract X percentage from the total value.

It is for my monthly personal budget plan. I basically want Excel to subtract my taxes from my total income if my income reaches a greater value than my personal allowance.

Thanks! (:

.

Here are two formulas. The first one has the percentage built in to the formula. The second refers to the percentage set within a cell.

Please Login or Register  to view this content.