Finance Q&A

Is there a tax calculator that we can load onto our PDAs?

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Q. Is there a tax calculator that we can load onto our PDAs? Or at least some short cheat sheet that has the tax rates, phase outs, etc

A. I don't use a PDA myself. If you can load a worksheet from another application I might be able to help you. I use Lotus functions so they might not work if you load them into Excel or other application. The easiest way to load this tax calculator is to copy it from this message and paste it into Lotus. If your application allows you to parse (interpret) the pasted file you might be able to avoid manually typing the program. A quick and dirty method could provide a completely incorrect result. Here are some calculations and determinations you need to make: Have you figured total income correctly, (e.g. passive income limitations, taxable social security)? What about AGI? There are phase out rules and limitations for adjustments. How about itemized deductions? Other, taxes (especially AMT), credits, payments I use three workbooks to determine taxable income; Rental, Deduction/Credits, and Income. Part of the summary worksheet on the income page is an algorithm to calculate the income tax. Even this is inaccurate at lower income levels. I skipped the first line in the spreasheet I pasted the algorithm. This is the algorithm I use : COLUMN: A B C D ENTER TAXABLE INCOME => 5000 TAX CALCULATIONS THIS IS AN INTERMEDIATE CALCULATION MODULO OF TAXABLE INCOME = @MOD(B2,100) TAXABLE INCOME IS AT LEAST BUT LESS THAN @IF(+$C$6

 


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