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Reason for the Season

KAHOOT VERSION

Taxes

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1. In a study with 96 people given $5 to spend on themselves OR on others, what happened?

  1. those who spent on themselves were happier
  2. those who spent on others were happier
  3. everyone felt happier
  4. everyone felt sadder

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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1. In a study with 96 people given $5 to spend on themselves OR on others, what happened?

  • those who spent on themselves were happier
  • those who spent on others were happier
  • everyone felt happier
  • everyone felt sadder

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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2. You only get a tax break on donations if you choose itemizing deductions instead of the NEW standard deduction of:

  • $12,700 if filing married, $6,350 if filing single
  • $16,000 if filing married, $8,000 if filing single
  • $20,000 if filing married, $10,000 if filing single
  • $24,000+ if filing married, $12,000+ if filing single

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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2. You only get a tax break on donations if you choose itemizing deductions instead of the NEW standard deduction of:

  • $12,700 if filing married, $6,350 if filing single
  • $16,000 if filing married, $8,000 if filing single
  • $20,000 if filing married, $10,000 if filing single
  • $24,000+ if filing married, $12,000+ if filing single

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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3. In 2018, U.S. charities received ____ in donations from individuals, bequests, foundations & corporations.

  • $427 Billion (more than 2017 donations)
  • $427 Billion (less than 2017 donations)
  • $427 Billion (the same as 2017 donations)
  • $427 Billion (the highest of all time)

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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3. In 2018, U.S. charities received ____ in donations from individuals, bequests, foundations & corporations.

  • $427 Billion (more than 2017 donations)
  • $427 Billion (less than 2017 donations)
  • $427 Billion (the same as 2017 donations)
  • $427 Billion (the highest of all time)

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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4. The median annual giving by non-entrepreneurs in 2018 was $2,400. What was the median for entrepreneurs?

  • $5,200
  • $4,750
  • $3,600
  • $2,500

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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4. The median annual giving by non-entrepreneurs in 2018 was $2,400. What was the median for entrepreneurs?

  • $5,200
  • $4,750
  • $3,600
  • $2,500

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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5. Research shows that all of the following make people happier in life, except…

  • winning the lottery
  • family & friends
  • gratitude
  • forgiving others

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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5. Research shows that all of the following make people happier in life, except…

  • winning the lottery
  • family & friends
  • gratitude
  • forgiving others

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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

more about the current event:

REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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Discussion Prompt:

What are ways that you can give or plan to give to others this holiday season?

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE

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Extend Your Learning

Relevant Resources from NGPF:

  • ANALYZE: How America Gives (Activity)
  • Giving in the 21st Century (Lesson)
  • A Picture of a Pair of Eyes Was Placed Above a Donation Box. Did donations increase or

decrease? (Question of the Day)

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References:

  • Charitable contributions take a hit following tax reform (cnbc.com)
  • Money spent on others can buy happiness (Harvard.edu)
  • Harvard professor says ‘winning a $20 million lottery won’t make you happier in life’—but

these 4 things will (cnbc.com)

  • Entrepreneurial Mindset a Greater Factor in Giving Than Gender

(philanthropynewsdigest.org)

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REASON FOR THE SEASON | NOVEMBER 22, 2019 EDITION | NEXT GEN PERSONAL FINANCE