Create an income tax table in Excel

If you want to get an overview of your taxable income, you can create an income tax table in Excel. We will show you how it works.

1. income tax table in Excel: enter income

First, make a list of your income. This includes wage income, income from renting and leasing and other transfer payments:

• First enter “Income tax table” in A1 and adjust the font and size as desired.

• Two fields below this, enter “Income”. In the boxes to the right of this, first enter your various income categories and then “Total”.

• To make the whole thing clear, create a table. To do this, use the mouse to select the fields in which you have just entered “Income”, the categories and “Total” and then drag the selection downwards. Mark as many fields as you need for the tax period.
• Right-click on the marker and select “Format cells”. Under “Frame” click “Inside” and select a line type on the left. Confirm with “OK”.

Income tax table in Excel: Enter deductible expenses

Next, create a table in which you enter the deductible portions according to the same scheme:

• Mark the first table completely and click on it with the right mouse button. Select “Copy”.
• Now click with the right mouse button in the field two fields to the left of “Total” and select “Paste”.
• Now you just have to adjust the labels in the table (see screenshot).
Under “Total” you now add up the shares to be entered later in both tables. To do this, click one after the other in the two corresponding fields “=SUM(” and mark the area in which you will enter the income. Then close the brackets and confirm with Enter. 0 should now appear.

3. calculate taxable income

Now calculate taxable income:

• Two boxes next to the “Total” in Table 2, enter “Taxable”.
• Write “=Total1-Total2” underneath. Replace Total1 and Total2 with the fields containing the respective totals. So in our example “=E4-K4”.
• For clarity, you can frame the fields “to be taxed” and the number underneath. Select the fields and call up the frame function as described above. Click “Outside” and select a line type. Confirm with “OK”.
Finally, select the important cells and click on the bold symbol at the top of the Font area.


Calculate income tax

• The amount of income tax depends on various factors. The most important is whether you are single or married. You can enter your taxable income in a tax calculator to find out how much tax you will have to pay.
• You can find a reliable tax calculator on the website of the Ministry of Finance.
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