Tax Time

For the common man, who has no VAT Input credits, no corporations to charge with for personal travel and miscellaneous expenses, tax time is a very hard part of the year.

Maybe some day, people will get a bail-out just like the too big to fail corporations which most likely inflated their expenses.


^here

I once saw a co-employee file within a bank. She was gloating the fact that she created a spreadsheet template that computes the bank's income tax backwards.

When I asked her to explain, she went on to tell me that the higher ups give her the amount that they decided to pay the government (so that bonuses can be increased).

With that figure given to her, she can use her spreadsheet to compute how much losses or expenses to load from subsidiaries or branches from someplace else.

How wonderful to be too big and mighty!

My schoolmate once asked a prolific accounting practitioner this question:

"Is it possible for an accountant to be successful or wealthy doing his job without going about the crooked path?"

The answer came after a pause and it was a truthful opinion of his. "No".

Perhaps we should have Walter for president. Maybe change we can take to our home will come:



Anyway, here is a lost file I was intending to share. However, my computer got a major hiccup then. I lost a hard drive. That's why I haven't touched the DB Accounting series.

Well to make amends here's a little spreadsheet file that may help the common man this time of the year. Caution though, the rates may have changed already so you have to check.

I already forgot that last time I tried to understand the US income tax computation. So the file is pretty much the same. And I'm not even an american, so try some test data.

Just the same, I added some codes to make the computed tax post to a database within the spreadsheet. The file is not protected so you can pretty much analyze the codes. The same techniques are applicable to DB Accounting.

It was created on a supposed scenario to gather data for export to CSV file. And from there, the supposed mainframe system can import the info for integration to the main office system.

Without further ado, here is the file link.


You can post your comment and corrections/suggestions. Feedback may help me get back to where I left off in the DB Accounting series.

In the meantime here's a short skit for our beloved taxman.


.ciao


wait... may be this version is better:



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