IF, AND Statements!!!! HELP!!!

[tulleydr]

SOLVED!!!

Below is the formula I have been trying to put together. Thanks to "AlphaFrog". Thanks Again!!!

=E4-(IF(E4-150<503,MAX((E4-150-160)*0.1,0),(E4-150-503)*0.15+34.3) +(E4*0.02)+(E4*0.062)+(E4*0.0145))

Hi, This is my first time on this form so if I am not doing this correctly please let me know. It's going to be pretty lengthy and detailed and if anyone has the time and patience I would greatly appreciate your time and input. Thank You in advance!!!

Ok, I am trying to make a workbook that will figure out taxes taken from a check. I have it pretty much narrowed down to the formula below, but it only works for anything over $503(Explanation on that later). Here is what I have now:

=E4-(IF(E4-150<503,AND(E4-150<160,(E4-150-160)*0.1),(E4-150-503)*0.15+34.3)+(E4*0.02)+(E4*0.062)+(E4*0.0145))

{-----------------------------Federal Tax Formula------------------------------} {---City--}{----SS-=-} {-Medicade-}

Here is another one I just did, but yet again if fails when I try to add the IF(OR(E4-150>160,...

=E4-(IF(OR(E4-150>160),IF(E4-150<503,(E4-150-160)*0.1,E4-150-503*0.15+34.3)+(E4*0.02)+(E4*0.062)+(E4*0.0145)))


Here is the data input for taxes

*GROSS PAY - 150($75 Per Federal Allowance) if UNDER 503 - 160 * 10%
EX. 500-150 = 350, 350-160 = 190, 190*.1 = 19.00. 19.00 will be taken from the check for Federal Taxes.

*GROSS PAY - 150(" " " ") if OVER 503 - 503 * 15% + 34.30
EX. 1000-150 = 850, 850-503 = 347 * .15 = 52.05, 52.05 + 34.30 = 86.35. 86.35 will be taken from the check for Federal Taxes.

*If the GROSS PAY is <=160 after the Federal Allowances are subtracted from it, NO Federal Taxes will be taken from the check.

*City, SS, and Medicade all remain constant.

So what I've done with the formula above is have all the taxes added and then subtracted from the GROSS pay to leave the user with a NET pay.

*This is how I read the above formula and I have to add that IF E4 - 150 <= 160, then ( I don't know how to word this, but here is my best) don't run the "IF" part of the above formula and just have the other taxes subtracted.

E4 - (If E4 - 150 is less than 503 then E4 - 150 - 160 * .1 else E4 - 150 -503 * .15 + 34.30)(End of Federal "IF") + E4 * .02 + E4 * .062 + E4 * .0145)

The above formula will work on any amount that is over 503, but as soon as an amount is added that is under 503 it gets quarky and adds negative integers and just don't work out right. I'm scrambled!!!

I have been at this for weeks now and evaluated and evaluated and I just don't see it. If ANYONE can help me it would be GREATLY APPRECIATED!!!

Thanks Again!!

[lexusap]

Hi,

*GROSS PAY - 150($75 Per Federal Allowance) if UNDER 503 - 160 * 10%
EX. 500-150 = 350, 350-160 = 190, 190*.1 = 19.00. 19.00 will be taken from the check for Federal Taxes.

This has to be specify more! what happened if the gross pay is $195. (result = 195-150-160 = $-115?)
and why it is $150 not $75 per federal allowance?

Cheers
Lex

[tulleydr]

Hi,

*GROSS PAY - 150($75 Per Federal Allowance) if UNDER 503 - 160 * 10%
EX. 500-150 = 350, 350-160 = 190, 190*.1 = 19.00. 19.00 will be taken from the check for Federal Taxes.

This has to be specify more! what happened if the gross pay is $195. (result = 195-150-160 = $-115?)
and why it is $150 not $75 per federal allowance?

Cheers
Lex

*If the GROSS PAY is <=160 after the Federal Allowances are subtracted from it, NO Federal Taxes will be taken from the check.

The friend I'm making this for has claimed 2 allowances for federal. That's why I use 150 because (75+75=150). This will not change for him. If GROSS PAY -150 is LESS THAN or EQUAL TO 160 then that "IF" statement cannot be ran or if it must run, it has to return a value of 0 because you cannot have a negative number to add to the rest of the formula. This is what I need help with? I'm trying to find a way to return 0 if it is less than 160 or to cancel the "IF" statement so it will not mess with the rest of the math that will follow...

Thanks Lex