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.
net monetary assets. Definition. The total number of assets and liabilities as set by a contractual agreement between the buyer and the seller of the asset in question. For example, if Johnny has $20 from raking leaves, but he has to pay off his sister $10 for doing his share of the dishes all week, his net monetary asset is $10.