Payroll equation for SS taxes

[Guest]

I'm trying to teach myself EXCEL by working through problems in a workbook.
Unfortunately I've hit a wall with the following problem:

I have the following values : Social Security Tax Withheld YTD, current
Gross pay, Social Security tax rate of .062. The worksheet I'm working
assigns column G for current social security tax, I'm given the information
that the maximum Social Security Tax Withheld YTD should not exceed a manimum
value of 5394 but I haven't been able to figure out the formula for this.
So far I have =IF(E4+(F4*0.062)<=5394,F4*0.062,"F4*.062 not to exceed 5394")
but don't know how to insert the value for the "not to exceed"
Thanks for any help offered!

 

[Max]

Perhaps: =IF(E4+(F4*0.062)<5394,F4*0.062,5394)

 

[Arvi Laanemets]

Hi


=MIN(5394,TaxFormula)


Arvi Laanemets