gross up tax rate & add inflation. which one first?

Individual IPS where they ask for pre-tax return and you have to add inflation. do you gross up tax then add inflation, or add inflation then gross up tax?

I think it’s tax first and then inflation.

I think you’d always apply inflation last, but I depend on the smart folks on this forum to correct me swiftly if I’m wrong :wink:

Inflation should come last because it is a nominal term and taxes come in nominal terms too.