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nevsk [136]
3 years ago
13

Which of the following is a characteristic of the 529 plan that makes it different from the Coverdell Education Saving Account?

Business
2 answers:
BARSIC [14]3 years ago
3 0
A: There is no age limit for disbursement of funds
SOVA2 [1]3 years ago
3 0

The correct answer is A. There is no age limit for disbursement of funds.

Both 529 and coverdell are tax advantaged savings which are designed so as to encourage people to save for future education.

In 529, funds can be used to pay expenses which are needed in the college or which are associated with institution of post secondary training.

In coverdell in allows money grow to tax deferred where by it can go up to to be withdrawn without paying any tax for those who qualify expenses to the institutions which are qualified.

Some differences of coverdell to 529 include; In coverdell there is age limit, they have contribution age limit, they have maximum contribution limit, and income of donor levels affects contributions.

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3 0
3 years ago
Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received
Olegator [25]

Answer:

The after-tax cost is $23,940

Explanation:

For computing the after-tax cost, first we have to compute the present value which is shown below:

Present value = Bill payment × marginal tax rate

                       = $38,000 × 37%

                       = $14,060

So, after tax value would equal to

= Bill payment or Pre tax value - Present value

= $38,000 - $14,060

= $23,940

8 0
3 years ago
The objective section of a resume should consist of no more than:
Alona [7]

Answer:A

Explanation:

A p e x

3 0
3 years ago
A company's days' cash on hand is computed by dividing:​ Group of answer choices ​cash and short-term investments by daily cash
Romashka-Z-Leto [24]

Answer:

The answer is A. ​cash and short-term investments by daily cash operating expenses

Explanation:

This is calculated as follows:

cash and short-term investments(cash equivalents) ÷ daily cash operating expenses.

Cash equivalents are very short-term securities. They are very liquid and can be converted to cash very quickly. Examples are bank accounts short-term securities like treasury bills.

Days cash on hand is the number of days that a firm can afford to pay its operating expenses, given the amount of cash available.

5 0
3 years ago
What happens if the amount of Bad Debt Expense is overstated at year end? A : Net income will be overstated. B : Allowance for D
Yuri [45]

Answer:

D. Net Accounts Receivable will be understated

Explanation:

5 0
3 years ago
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