I got this great calculation from David Jondreau for use in a Payroll file.
It calculates taxable wages based on a maximum amount.
For example: FICA Wages taxable currently max at 113,700.
The calculation works fine until a person gets to the max, then the next paycheck starts deducting a fica tax from
the YTD. Can anyone see what might be going wrong?
Here's the calc for FICA WAGES TAXABLE:
//Gross Pay YTD is the sum of all pay including this week's. So let's subtract this week's pay and get all pay up until this one.
prevPay = Gross Pay YTD - Gross Pay ;
//what wiggle room do we have between our old pay and max wages?
availablePay = 113700 - prevPay ;
//but let's not let that number be less than zero
availablePay = Max ( availablePay ; 0 ) ;
//which is less, available or actual pay?
taxable = Min ( availablePay ; Gross Pay )
) //End Let
Thanks so much!
FM 11A on MacsML