0
books, summer camp, high school tuitioj
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What taxes are paid for a withdrawal on an UTMA account in NJ?
The taxable amount of the distribution will be subject to the marginal tax rate of the owner of the UTMA account in NJ when the 1040 federal income tax return is completed correctly.
What is the expense to businesses for physical distribution?
expense businesses
What is a business's biggest expense?
Generally, the largest expense of business organizations is payroll. That will have to be qualified depending on the specific industry being discussed.
Differences between selling expenses distribution expenses?
distributon expense is a part of selling expense. its comes under the heading of selling expense. selling expense included various other heads like advertisement expense, distribution expense, packing expense, octroi, sales tax, hidden profit, cost of product etc etc. while distribution expense is the expense occured by the producer of the goods in the form of transportation cost barred by him for making the goods reach the retailers, wholesellers or directly to the godown or factory outlet.
What is the age for utma transfer in NJ?
18
What is the UTMA age of termination in Georgia?
21
What do you do with the 1099-Q form?
If there were qualified education expenses equal to the distribution you don't do anything. If the expenses exceed the distribution amount the difference can be claimed as an education credit or tuition and fees adjustment. If the distribution exceeded the qualified expenses see Publication 970 to figure the taxable amount.
Is there a penalty for not transferring a UGMA UTMA account to the child when heshe reaches the age of majority?
Is there a penalty for not transferring a UGMA UTMA account to the child when heshe reaches the age of majority?
Is professional fee expense an administrative expense or a selling expense?
Expenses which are incurred for the selling of product is called Selling Expenses while expenses incurred on administration of general day to day tasks are called administration expenses
Can you switch your granddaughers UTMA AL to a Texas 529?
Yes I can.
What is the NJ statute for UTMA bank Accounts?
What is a UJMA account?
What is the age of majority in New Jersey in regard to a UTMA account?
21
