calculating social security formula

B

bkloss

I need help with a formula for calcuating social security taxes. The
calculation is based upon 6.2 of the annual salary, and the calculation stop
at a 90,000.00.
so if the salary is 100K, you do not calculate past the first 90K


Thanks much
 
J

John Vinson

I need help with a formula for calcuating social security taxes. The
calculation is based upon 6.2 of the annual salary, and the calculation stop
at a 90,000.00.
so if the salary is 100K, you do not calculate past the first 90K


Thanks much
Click to expand...

0.062 * CCur(IIF([Salary] > 90000, 90000, [Salary]))

You may also want to use Round() to round the result to the nearest
penny (or dollar as appropriate).

John W. Vinson[MVP]
 
B

bkloss

Perfect - thank you very much

John Vinson said:
I need help with a formula for calcuating social security taxes. The
calculation is based upon 6.2 of the annual salary, and the calculation stop
at a 90,000.00.
so if the salary is 100K, you do not calculate past the first 90K


Thanks much
Click to expand...

0.062 * CCur(IIF([Salary] > 90000, 90000, [Salary]))

You may also want to use Round() to round the result to the nearest
penny (or dollar as appropriate).

John W. Vinson[MVP]
Click to expand...
 
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