Rules for Deducting 529-Plan Contributions. About two-thirds of the states offer an income-tax deduction for contributions to college-savings plans, but the rules vary.By Kimberly LankfordSee my bio, plus links to all my recent stories., December 11, 2012.ome states, however, only let you deduct your contribution if you are the account owner. Account owners in New York, for example, can deduct up to $5,000 per year in contributions to the stateâs plan (or $10,000 if married filing jointly).
non-monetary asset. Definition. Assets other than monetary assets like cash and bank deposits where there is no right to receive a specific amount of currency. Can also be considered as intangible assets that still have value to a company, such as equipment, inventory, and patents. Print Cite / Link.
What is a noncurrent asset? A noncurrent asset is an asset that is not likely to turn to unrestricted cash within one year of the balance sheet date. (This assumes that the company has an operating cycle of less than one year.) A noncurrent asset is also referred to as a long-term asset.