Combining separate IF Statements

I am looking to combine multiple IF statements in one cell. Below are the two formulas.
E4 is one's salary
J1 - is social secuirty wage base of $106,800
Basically if your salary is less than $106,800 then the return is "", if it's greater than $106.800 take the difference between $106,800 and your salary and multiply by 10.5%. The second part is a condition where the max you can earn ($245,000)is the difference between your salary and the social security wage base (106,800) multiplied at 10.5%. P.S. the number $138,200 is the difference between 245000 and the social security wage base of 106800. Here are the two formulas combined
=IF(E4<J1,"",IF(E4>J1,(E4-J1)*0.105,IF(E4>245000,138200*0.105)))

Possibly?

=IF(E4>245000,138200*0.105,IF(E4>J1,(E4-J1)*0.105,""))