I hated doing tax calculations for personal injury matters until …

Calculations

When I first started with Dolman Bateman over 16 years ago, all the tax calculations that we did for personal injury economic loss reports were done manually – looking up tax tables.

It became even worse when we made a correction or changed the level of earnings- all the tax calculations had to be done manually all over again.

As you could understand this process was time consuming and mind numbingly boring for whoever was involved.

How I managed to make it easier for myself

So one of my first tasks was to develop some functions in excel (similar to the =sum() function) that would automatically calculate the after tax earnings for any level of income for any year in any spreadsheet.

This simple system completely changed our process because as everyone in the office used the same functions and we all had the same answer every time.

Here’s how it works

Now to calculate tax on $75,000, we just type in excel the formula =aftertax2012(75000) and it returns the after tax amount. You can use this formula and many others in any spreadsheet.

We have prepared well over 3,000 economic loss reports in personal injury so our Tax Calculator Add in for Excel has saved us at least 9,000 hours of time.

The tax calculators on our website were based on the formulas from this Addin.

We have been using our Tax Calculator Addin for Excel for over 16 years and we have updated it every year. The tax functions go from 2013 all the way back to 1983!

So what can our Tax Calculator Addin for Excel do for you?

  • Makes calculating economic loss in personal injury easy and fast. Any changes you make to earnings are automatically updated for tax.
  • As well as the tax functions, the Addin includes functions for calculating years and weeks between two dates, discount table multiplier functions.
  • Plus I have included the very same spreadsheet template that we use for preparing economic loss reports.

So how much will it cost me?

The good news is that this add in is only $9.90 (inc GST) per user which includes:

  • the Dolman Bateman Tax Calculator Addin for Excel
  • Our personal injury economic loss spreadsheet.
  • Instruction video on how to use the spreadsheet.
  • One year of updates



Any questions – please email ashields@dolmanbateman.com.au

 

Kind Regards
Arnold Shields
Dolman Bateman
Forensic Accountants

P.S – Any questions just reply to this email or call me on 02 9411-5422