Excel, the spreadsheet portion of Microsoft's Office Suite, has multiple business and personal uses including tax calculations. It's also a timesaver since the user does not have to refer back to the tax calculations made on a regular calculator.
- Skill level:
Type the first category in the first cell (box A:1). The first row will include the titles of your categories for each column.
Label one column “Taxes” and the one next to it the title of the dollar values taxes are applied to. (Example: First column labelled “Sales” in cell A:1, second column “Taxes” in cell B:1)
Hold the left click of the mouse on cell B:2 and drag the mouse down the middle to highlight the cells.
Right click on the selected cells. Select "Format cells" from the menu that pops up. Under category select "Percentage" and click "OK." This will format the taxes as a percentage.
Type the percentage amount (example 10) in cell B:2. The program will automatically make it a percentage and show "10%." Select the box that has "10%" and left click on the small square located at bottom right side of the cell and drag down. The "10%" figure will appear in each box in that column.
Type the title that will label the tax amount in cell C:1 (this is the column that will have the calculated tax amount). Type =A:2*B:2 in cell C:2 (the cell under the title) or type = and select cell A:2 Type * and select B:2.
Click and drag from the bottom right of the cell with the equation (C:2) so the whole column now has the same calculation that will be used for the tax for any amount typed in column A. Input the data to calculate the tax on.
Tips and warnings
- The style and format of the spreadsheet can be changed as long as you use the percentage and multiplication steps.
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