Calculating gross when net is known
Frequent budget adjustments when the gross amount of the adjustment is know. I need to calculate backwards for the tax burden to come up with the net
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Utf
12/18/2009 5:21:01 PM
excel.worksheet.functions
4936 articles. 
2 followers.
3 Replies
1315 Views
Hi, I am lost here usually you have your gross less your taxes = Your net assuming gross is in a1, tax in b1(calculated based on 10% taxes) in c1 the net will be =a1-b1 Now if you know your net to get your gross will be =c1/0.90 0.90 comes from 1-0.10 taxes "placerpone" wrote: > Frequent budget adjustments when the gross amount of the adjustment is know. > I need to calculate backwards for the tax burden to come up with the net
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Utf
12/18/2009 5:28:02 PM
Well, it depends what your tax rate is. Suppose it is 10% (i.e. 0.1), then: Net * 1.10 =3D Gross Hence, Net =3D Gross / 1.10 or: Net =3D Gross / (1 + tax_rate) Hope this helps. Pete On Dec 18, 5:21=A0pm, placerpone <placerp...@discussions.microsoft.com> wrote: > Frequent budget adjustments when the gross amount of the adjustment is kn= ow. > I need to calculate backwards for the tax burden to come up with the net
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Pete_UK
12/18/2009 5:33:07 PM
Net = Gross * (1 - TaxRate) Net / (1 - TaxRate) = Gross Regards, Fred "placerpone" <placerpone@discussions.microsoft.com> wrote in message news:0B4081AC-6E66-46F5-BAE1-B87708BE4239@microsoft.com... > Frequent budget adjustments when the gross amount of the adjustment is > know. > I need to calculate backwards for the tax burden to come up with the net
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Fred
12/18/2009 8:50:00 PM
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