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Cumulative FICA Calculation using a threshold of current FICA CAP.

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    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.
    Last edited by natemoney2; 09-06-2023 at 06:44 PM. Reason: Solved on my own

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    Re: Cumulative FICA Calculation using a threshold of current FICA CAP.

    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 ).
    Trevor Shuttleworth - Retired Excel/VBA Consultant

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    Re: Cumulative FICA Calculation using a threshold of current FICA CAP.

    Please try in H20 and copy to the right:
    Formula: copy to clipboard
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    Re: Cumulative FICA Calculation using a threshold of current FICA CAP.

    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.
    Last edited by HansDouwe; 09-06-2023 at 08:57 PM.

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