Gameplay Notes: Tax Collection Preview

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.

10 thoughts on “Gameplay Notes: Tax Collection Preview

  1. I love getting a look at other people’s gameplay notes.

    Ha, I was going to ask if you had an accounting background! I am probably your exact opposite, having done extremely poorly in Maths from early in high school onwards. My tax system is super-simplified as a result, because I don’t trust myself to make it too complicated. I’m definitely going to take a look at your form though and see what I can take away from it, so thanks for sharing!

  2. *bows down to this forms awesomeness!* You have just given me a new PRECIOUS! You should see the notebook notes I made for my taxes last season, oh it was a MESS. I’m so happy you made this form and shared it..I don’t know what to do with myself right now! LOL!

    Looking it over, I think this will fit in as-is with my terms…I believe it will…nevertheless, I’m using it for my tax season next year. Hahaha! THANK YOU!

  3. Oh and another thing…I wasn’t giving tax deductions for my farmers! This is a GREAT idea! The Spencers and Everetts will be sooo happy with me next year!! They didn’t like me so much this past tax season, especially Kimberly Spencer. hahaha.

    I just LOVE that you’ve built in all the explanations, and the fact that the work is already DONE for me!! All I have to do is key it in….MAN, I can’t thank you enough!

  4. Ok, I know I’m totally being a fangirl right now…but, I can SAVE each household’s tax return and use them again the next tax season…helps to kind of see how they’ve grown and all that! I love this! I like that their ‘signatures’ fill in at the bottom, too.

    I am keying-in all my past 2008 household tax returns, and I see already all my Sims would’ve have saved quite a bit of money had I been using this form. Wow. But, at least I’ll have their returns ready and waiting for them, next tax season.

    One question, when I enter the household value in E21, it’s not autopopulating up in D-E-F4 (Income Class) areas like it should. Is there some formula I should put into E21 that will make those columns autopopulate? As it stands, E21 just has a number, no currency or formula within it. Hope this all makes sense. You’re an accountant, you should understand this drivel. LOL! Email me if you have to. Thanks!

    1. After looking at the form, I realized that the income class function was only calculating the household value only and not the total amount of assets.

      To fix this, just edit the formula in D4, E4 and F4 and change it from E21 to F24. If you’re familiar with Excel or even QuattoPro, this should be easy to do. Otherwise, I ‘ll go ahead and re-upload the correct file. Thanks for the heads up.

  5. Hey there!

    This is a different form from what you sent me before. I liked the previous one, but I really like this new and imporved one. Your city is really coming along. Kudos to you!

  6. Hi!! New reader here. I’ve been perusing through your old posts. 🙂 Your tax system seems similar to the one that I’m using for my hood, so I think I’m going to use your Excel spreadsheet instead of trying to use my graphing calculator to figure out percentages. Thank you for sharing it!

    Also, I know the pain of too many classes. Working 30 hrs/wk and taking 11 units has been exhausting for me, I have no idea how people do this and still have time for sims! Sheesh, where are their priorities? 😉

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