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QWeelon's avatar
QWeelon
Copper Contributor
Sep 21, 2021
Solved

Calculating taxes backwards

Dear community, here's one for you math lovers!   Basically, what I want to do is calculate backwards how much tax I have to pay to acquire a set amount after tax. See attached file for table.   ...
excel
office 365
QWeelon's avatar
QWeelon
Copper Contributor
Sep 22, 2021

HansVogelaar 

 

Very nice! Thank you!

 

Is there a way to further augment this formula and make it even more general and safe for future expansion of the table? As you might have figured out, I will have to add another column for next year, and the next year and so on.

 

The input formula could be assumed to be the first day of the current month, using the formula below:

 

=TODAY()-DAY(TODAY())+1

 

Thank you again!

    • QWeelon's avatar
      QWeelon
      Copper Contributor
      Sep 22, 2021

      HansVogelaar 

       

      Hi again,

      Double checked the results and and got an error of 1 cell for certain values. See attached file for test algorithm.

       

      This formula is lightyears from my Excel comprehension so I'd never be able to figure out how and if it can be tweaked.

       

      Thanks again! 

      • HansVogelaar's avatar
        HansVogelaar
        MVP
        Sep 22, 2021

        QWeelon 

        That's a matter of interpretation, I think,

        For an amount before tax of 18001 kr, the tax is 3384, so the amount after tax is 14617 kr.

        You want 14618 kr. That is more than 14617 kr, so the formula rounds up to the next higher amount before tax.

    • QWeelon's avatar
      QWeelon
      Copper Contributor
      Sep 22, 2021
      Beautiful! Thank you kindly!

      Have a great day!
      /Q

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