IF statements

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Guest

I need an IF statement that tells my cell that everything <=7000 gets mutiplied by 5.40% and everything >7000 nothing happens to it but the value of <=7000 still stays in the cell. Confused? it is for State unemployment tax I have one cell with the gross pay and another with bonus pay they equal 75600. What do I do?
 
Why not create a 2nd table (or 2nd spreadsheet if you
prefer that mirrors the first table with the following
formula:

=IF(A1<7000,(A1*0.054),A1)

It will enable the contents of cell A1 to be validated and
if found to be under 7000 will multiply it by 5.4%
otherwise it will display the contents of A1. Try it. Let
me know if it helps.
You can always use a coy/paste values if you need to
replace the calculations with hard data.

Good luck,
Alan


-----Original Message-----
I need an IF statement that tells my cell that everything
Click to expand...
<=7000 gets mutiplied by 5.40% and everything >7000
nothing happens to it but the value of <=7000 still stays
in the cell. Confused? it is for State unemployment tax
I have one cell with the gross pay and another with bonus
pay they equal 75600. What do I do?
 
well that works, but let me explain better. I have a value in a1 which equals gross pay of 67500, and a value in b1 which is equals bonus pay of 8100. They need to be added together then the first 7000 needs to be taxed. the rest doesn't get taxed. I need an If statement that says that out of the 75600 only 7000 gets taxed. Is this enough info for what i am asking?
 
Hi Steve
How about

=IF(A1<7000,A1*0.054,7000*0.054

This way if the value is below 7000 you get the tax on that amount, if it is over 7000 then you only get the tax on 7000

Good Luck
Mark Graesse
(e-mail address removed)
Boston M

----- steve wrote: ----

well that works, but let me explain better. I have a value in a1 which equals gross pay of 67500, and a value in b1 which is equals bonus pay of 8100. They need to be added together then the first 7000 needs to be taxed. the rest doesn't get taxed. I need an If statement that says that out of the 75600 only 7000 gets taxed. Is this enough info for what i am asking?
 
Thank you for your help the final formula was

G6+G7>7000
7000*E15
E15*(G6+G7)

this was part of yours along with part the adjustment needed for the fluxation of Incomes if they become less than $7000. the point is that if you drop under that then you are only taxed for what you made. Ex- $590 would be the only thing taxed. Thanks for the point in the right direction I really apprecitate your help without it I was lost.

Steve
 
Hi Steve
Glad to help

Regards
Mark Graesse
(e-mail address removed)
Boston M

----- Steve wrote: ----

Thank you for your help the final formula was

G6+G7>700
7000*E1
E15*(G6+G7

this was part of yours along with part the adjustment needed for the fluxation of Incomes if they become less than $7000. the point is that if you drop under that then you are only taxed for what you made. Ex- $590 would be the only thing taxed. Thanks for the point in the right direction I really apprecitate your help without it I was lost

Steve
 
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