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Cactus1993Flag for United States of America

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Excel Formula for calculating the first day of any given year?

What formula do I enter in order to calculate the first day of that year, given any date?

For example, if I reference today's date (11/8/11) in the formula, it should return 01/01/11.
If I enter 5/5/2010, it should return 01/01/10, and so forth.

Thanks in advance!
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Saqib Husain
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set a custom format of dddd on the cell to see just the day...
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Thanks!