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Video instructions and help with filling out and completing 2016 tax table
What up here sucks EPA here today answering question on reddit about how write a formula using a tax table the way attack table works is you take the amount of money that you earned during that year and you find the row that it fits on so let's say we made $30,000 we'd be here on row five taxable income over 20,000 but less than 40,000 let's say we made one hundred and twenty five thousand dollars we'd be here on row nine taxable income over a hundred thousand but less than one hundred fifty thousand after you figure out what row you're on the next step you want to do is add two things the first thing is gonna be column c which is the tax on a mountain column a so in this case the two twenty three thousand eight hundred dollars would be the tax from column a a hundred thousand and then let's say we made 125,000 we know the text on the hundred thousand that's column C that's twenty three eight hundred but we want to know that the tax on the extra twenty five thousand the amount in excess of column a and we do that by multiplying our our tax rate which is here in column D times the excess of the amount we made over column a so we wanna get started right in this formula the first thing we need to do is figure out which row we're on and that actually presents kind of a unique challenge normally if you if you want to look up to a certain row you can use the vlookup function so in this case let's say we made forty thousand dollars last year I have forty thousand here and cell C 15 I can write equal sign vlookup grab the forty thousand dollars and grab the array that I'm using and then write let me say one see if our vlookup formula is working will put us as we usually do it a vlookup formula and you can see that Excel has come here to column a and it scan down and it found the forty thousand and it stopped let's that's a good thing but the problem is if we change our input to anything that's not an exact value in column like $45,000 all of a sudden or B lookup formulas stops working we need to use something called vlookup true which is the normal view lookup function instead of the last thing you input being false you change the last thing to true and what that does is similar thought process it comes here the column a that scans down until the first time your input exceeds your a mountain column a so the $45,000 comes to over here and says it's bigger than 10 it's bigger than 20 it's bigger than 40 it's not bigger than 60 so it falls back to the 40 if we put a