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A Taxing Surprise

Taxes

NO TECH

We have retired this resource and it is no longer being maintained. �Please visit https://www.ngpf.org/fincap-friday/ for the newest resources.

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A TAXING SURPRISE| FEBRUARY 26, 2021 EDITION | NEXT GEN PERSONAL FINANCE

Click on the Kahoot icon below to begin the quiz.

Alternatively, you can use EdPuzzle.

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A TAXING SURPRISE| FEBRUARY 26, 2021 EDITION | NEXT GEN PERSONAL FINANCE

You’ve completed the exercise, now it’s time to learn

more about the current event:

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Discussion Prompt:

A TAXING SURPRISE| FEBRUARY 26, 2021 EDITION | NEXT GEN PERSONAL FINANCE

Do you think it’s fair that many Americans will pay taxes on their unemployment benefits? How about PPP loans? Stock & crypto profits? Why or why not?

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Extend Your Learning

A TAXING SURPRISE| FEBRUARY 26, 2021 EDITION | NEXT GEN PERSONAL FINANCE

Three Relevant Resources from NGPF:

  • What are taxpayers required to disclose on 2020 tax return? (Question of the Day)
  • CALCULATE: Completing a 1040 (Activity)
  • MATH: Income Tax Brackets (Math Activity)

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References:

  • Jobless Americans Face Surprise Tax Bills On Unemployment Benefits (HuffPost)
  • Nearly half of states taxing companies PPP loans that were forgiven (MarketWatch)
  • Taxes on Stocks: What You Have to Pay and How to Pay Less (NerdWallet)
  • Cryptocurrency’s value plummets. Here’s what it means for your taxes (CNBC)

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