Yep, no additional play time still. What the heck was I thinking, taking 5 classes?
Anyhoo, here is a preview of my tax collection notes. As the mayor of Chocolate City can attest to, I have a fairly complex procedure for collecting taxes. Since I am taking a quick break from studying, I do not have time to post the full procedure. Maybe this weekend. But in the meantime, I am uploading Laurel Crossing’s tax return form, in an excel form.
“Tax form? Excel? Run away!”
Don’t worry; it’s very basic. The form has formulas in almost every open field. The only fields that you manually enter information is the tax year, names, address, relationship, age and household/bank account values. Once you enter the money values, all tax calculations are populated. It’s pretty easy.
For your reference, I have included two examples of using the return form. I have also inserted comments for every field, so that you will know what and what not to enter manually.
Also keep in mind that tax is calculated by a percentage of the household assets (household value and bank accounts, if any). My tax rate is 10% for low (less than $35,000) and middle income (between $35,001 and $150,000) households, and 15% for high income (more than $150,001). If you are a decent excel user, you can edit the formula to reflect your tax rate. If you use fixed tax payments, I can help you to edit the formula to reflect that.
I have tax deductions as well: marriage ($1,500), child/elder dependents ($1,000 ea.) and farmer ($1,500). Based on what you entered for the household members, the form will auto-calculate the eligible deductions and subtract from the gross taxes due to reflect the household’s tax payment or refund due. Even the “signature” is populated at the bottom of the form.
Take a look at the examples before filling out the form, until you get familiar with it. When using it, you can enter the info in to use as a worksheet for the total hood, or you can use and save the form for each resident. It’s your choice.
I’d love to hear what you think about it. My tax system took a day to figure out, and the form took a few hours to contruct. But this worksheet makes the tax calculation a breeze. Seriously.
P.S. Yes, I do work in accounting. Happy simming!
-EDIT: Thanks to Simmington Hills for an error that I did. The income class function was only reading the household value, rather than the total assets. Also thanks to my hubby. Without him asking for a demostration of said income class function I would have never realized that it was not calculating middle income correctly. I have fixed the problem and that re-upload the file. Thanks a bunch you guys.