Disabled American Veterans 38

“Capitalization policythe taxpayer hereby adopts for book and federal income tax purposes the following policy regarding capitalization expenses for the year beginning january 1, 2016. In accordance with internal revenue code sections 167 and 168 and related regulations 1.263(a)-1(f) the taxpayer has determined that amounts whose individual cost (including tax, installation and delivery costs) does not exceed $2,500 will be deducted as incurred as an operating expense. Amounts exceeding this dollar limit will be examined individually to determine if their use or purpose requires capitalization under the betterment, adaptation or restoration rules used by the internal revenue service and will be capitalized or expensed as incurred as a result of the application of those rules.”

“Description amountbank service charges 28interest 5advertising 142workers comp 821licenses and permits 1,242snow removal 179office supplies 313trash removal 2,970payroll taxes 652contributions 7,511depreciation 3,762key cards 664small tools 1,348miscellaneous 7insurance 1,203”

“Description amountrounding (3)”

“Category beginning of year end of yearinventory 2,346 1,852deposits 1,296 0”

“Category beginning of year end of yearaccrued sales tax 332 369withheld payroll taxes 1,093 1,302”