I'm refining my business plan in preparation for my next meeting. It's already up to 11 pages! However, since I am having it reviewed by German speaking people who might award me with start-up money, I decided to write in their native language instead of mine.
Unfortunately, this means that it takes me about 3x as long to write it, and therefore contains a suspiciously high number of bullet lists instead of full sentences. :-D
Part of your business plan is to draw up a 5 year plan for finances. I put this off for quite some time since my least favorite part of this idea is working with the numbers. However, since I used to be a programmer (albeit not a very good one), I was able to transform this clear and concise tax table:
into this unreadable Excel formula:
=IF(SUM($G24:$R24)>90000,(((SUM($G24:$R24)-90000)*455000/910000)+32880)/4,IF(SUM($G24:$R24)>60000,(((SUM($G24:$R24)-60000)*14400)/30000+18480)/4,IF(SUM($G24:$R24)>31000,(((SUM($G24:$R24)-31000)*12180)/29000+6300)/4,IF(SUM($G24:$R24)>18000,(((SUM($G24:$R24)-18000)*4550)/13000+1750)/4,IF(SUM($G24:$R24)>11000,(((SUM($G24:$R24)-11000)*1750)/7000)/4,0)))))
where cell G24 is Jan theoretical taxable income and cell R24 is Dec theoretical taxable income.
For the eagle-eyed out there, you'll notice I left off the tax for taxable income over 1 million dollars. I'm only describing the first 5 years after all. :-D
Hi, your posts made me laugh so hard. Good luck with the project.
ReplyDeleteAbbey Sews
Thanks! It's nice to know that there is at least one person who reads this blog :-D
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