Paul_B wrote:
The formula should be (for completeness):
Tax:
=IF(B26<0;0;LOOKUP(B26;$H$3:$H$8;$J$3:$J$8)
+(B26-LOOKUP(B26;$H$3:$H$8;$H$3:$H$8))
*LOOKUP(B26;$H$3:$H$8;$K$3:$K$8))
Ok, I neglected to define one more parameter on my sheet. B26
here is pre-tax net worth, rather than income, while E26 is the
current level of capital gains, which is what the tax exclusively
will be based on. After I determine the tax on capital gains I
subtract it from B26 to get current net worth, tax liability
inclusive. Sorry for the confusion.
Thanks so much for your help. It appears to be working fine here,
and I've learned a lot. Very powerful tool.
Paul
If I may add one final thought on this, do yourself a favor and use
named ranges. That way your formula will be something like:
=IF(Taxable<0;0;LOOKUP(Taxable;Threshold;Mar_FJ)+.....
It makes the whole thing enormously more readable and understandable
next year when you need to revise it all again.
--
Rod
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