I'm only looking for rough numbers, not exacts (being off by $5.00 or $10.00 is acceptable), since this won't be actually used for peoples paychecks.
George >-----Original Message----- >From: Anthony Youngman [mailto:[EMAIL PROTECTED] >Sent: Friday, February 13, 2004 11:06 AM >To: U2 Users Discussion List >Subject: RE: Payroll computations > > >Oh crumbs. We sell software that does EXACTLY that. I might >even be able >to email you an out-of-date copy (several years out-of-date ...) > >To try and explain how it works ... > >We first look at the "first-priority" tax bands, and build an array of >gross2net at each kink. Let's say you pay 10% on the first 10K, 20% on >the next 10K, and 30% on the next... > >Gross Net >0 0 >10K 9K >20K 17K >30K 24K > >Now let's say that, on your "net of tax" income, you now have to pay 5% >of the first 10K in health premiums, and 10% of the next 10K. > >Gross Net1 Net2 >0 0 >10K 9K > 10K 9.5K >20K 17K > 20K 19.5K >30K 24K > >For each tax in turn, you now add a new column to the right, and >extrapolate back to the left. It's easy. That's what our program does. >And you end up with, in the "gross" column, the exact gross for every >point at which the marginal tax rate changes. > >Our ex-IT-manager once demonstrated this program at a "beauty contest", >up against one of the big accountancy firm. Their guy didn't >believe him >when he said he could do a "net to gross" calculation instantaneously, >so they tried it. Our program was instant, while you could watch their >program iterating down towards the correct result :-) > >Of course, in truth, our program didn't do it instantly. But >as you exit >the "these taxes apply" setup screen, it calculates this table on the >way out. Then, when you actually enter the net, it simply interpolates >to get the gross, then does a forward calculation to report all the >taxes etc. > >(By the way, no offence to the others who've replied, but do those >spreadsheets etc that you've referred to allow you to enter what taxes >apply? And (as in our case) might George possibly want to use the same >technique for other countries? After all, he did ask for the technique >...) > >Cheers, >Wol > >-----Original Message----- >From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] >On Behalf Of George Gallen >Sent: 13 February 2004 15:40 >To: 'Ardent List' >Subject: Payroll computations > >I'm trying to write a program that will give a estimate (fairly close >estimate) >for determine what amount of money deducted pre-taxed, will cause your >taxable income to drop a tax bracket. > >What I'm looking for is an excel file for tax rates on salary income. >I'm assuming you take the gross * (# payperiods in year) for annualized >salary >and use that as a base (depending on the # of dependants on the w4) >would >give you the % to charge for fed inc tax. > >Is that how it works? > >(Annualized Salary - pre tax $) * (% based on dedecutions from table) = >Fed >withholding $ > >I'm not looking to include state / FICA at this point > >Is the above the correct method for determining taxable income for a >paycheck, and >if it is via tables where can I get the table in computer readable >format. > >George > >George Gallen >Senior Programmer/Analyst >Accounting/Data Division >[EMAIL PROTECTED] >ph:856.848.1000 Ext 220 > >SLACK Incorporated - An innovative information, education and >management >company >http://www.slackinc.com > >-- >u2-users mailing list >[EMAIL PROTECTED] >http://www.oliver.com/mailman/listinfo/u2-users > > > > >*************************************************************** >******************** > >This transmission is intended for the named recipient only. It >may contain private and confidential information. If this has >come to you in error you must not act on anything disclosed in >it, nor must you copy it, modify it, disseminate it in any >way, or show it to anyone. Please e-mail the sender to inform >us of the transmission error or telephone ECA International >immediately and delete the e-mail from your information system. > >Telephone numbers for ECA International offices are: Sydney >+61 (0)2 9911 7799, Hong Kong + 852 2121 2388, London +44 >(0)20 7351 5000 and New York +1 212 582 2333. > >*************************************************************** >******************** > >-- >u2-users mailing list >[EMAIL PROTECTED] >http://www.oliver.com/mailman/listinfo/u2-users > -- u2-users mailing list [EMAIL PROTECTED] http://www.oliver.com/mailman/listinfo/u2-users
