Cumulative FICA Calculation using a threshold of current FICA CAP.

FICA Formula.xlsx

I am setting annual budgets and want to make sure my salary budgets calculate FICA correctly. I have over 800 Doctors so you can imagine the financial impact on my budget if these taxes are calculated incorrectly.
I have the beginnings of a formula that "Should" work in theory, but it is not calculating as I thought it would. Any Assistance would be GREATLY appreciated.

Three things wrong with this formula

=+MIN(SUM(D3:$I3),167700)*6.2% - MIN(SUM(D3:$I3),167700)*6.2%

1. You don't need a plus sign ( + )
2. $I3 column is locked
3. First half of the formula is the same as the second half. Subtracting them will always return zero ( 0 ).

Please try in H20 and copy to the right:

Formula:

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Last edited by natemoney2; Today at 12:44 AM. Reason: Solved on my own

Glad you solved your own problem.
Would you mind posting your solution?

Earlier Trevor and I replied to your question in this thread.
Did you get anything out of that?

I have not seen any response to this.