Return 0 After Milestone is Reached

  • Thread starter Thread starter Patrick A
  • Start date Start date
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Patrick A

All,

I am using this formula to calculate monthly taxes, which are based on
a % of income.

Once you've paid a certain amount of tax, you don't have to pay any
more.

I'm using this formula - which sucessfully works up to and including
the month where you pay less than the average month. I now need to
take it a step further, and say once the maxtax has been reached,
return a 0.

A4 to L4 are my monthly income amounts.

=IF(SUM($A4:L4)*tax<MaxTax,L4*tax,(SUM($A4:L4)*tax)-MaxTax)

Any suggestions?

Thanks,

Patrick
 
Your problem is determining when Maxtax is reached. In the month where you
are going to go over the max, you still need to top up your tax payments. So
I don't think you can do it by looking at income alone. You need to check
your tax payments.

If your tax payments are in, say, row 5, use:
=IF(SUM($A5:K5>=MaxTax,0,IF(SUM($A4:L4)*tax<MaxTax,L4*tax,(SUM($A4:L4)*tax)-MaxTax))

Regards,
Fred
 
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