Tom and Penny decide to do an experiment. Instead of grocery…

Tom and Penny decide to do an experiment. Instead of grocery shopping haphazardly once each week, they spend an hour every other week planning their meal menus, couponing, and ad-matching before heading to the grocery store. They quickly realize that doing this saves their family of five about $15 each bi-weekly trip. What are their nominal savings (without interest) per year?

Rob and Heidi (married filing joint) expect to pay $20,000 i…

Rob and Heidi (married filing joint) expect to pay $20,000 in tithing and $8,000 in state and local taxes each year for the next few years. If they have a 24% marginal tax rate, calculate how much they would save over the next two years if they use “bunching” (assume a standard deduction in 2019 of $24,400). 

Imagine that Heidi is considering going from a part-time to…

Imagine that Heidi is considering going from a part-time to full-time position at work. This move would result in a $20,000 increase to her salary. If Rob and Heidi have a federal marginal tax rate of 24%, a state marginal tax rate of 7%, and prefer to pay tithing on their gross income (before taking out taxes), what is Heidi’s true increase in salary after accounting for tithing and taxes? (Don’t forget payroll taxes, e.g. Social Security)