Pappalardo Alternative Placements Inc.

“Asc topic 740, accounting for uncertainty in income taxes, seeks to reduce the significant diversity in practice associated with financial statement recognition and measurement in accounting for income taxes and prescribes the recognition threshold and measurement attributes for disclosures of tax positions previously taken or expected to be taken on an income tax return. Not-for-profit entities are also within the scope of asc topic 740. An entity must consider whether it has engaged in activities that could jeopardize its current tax-exempt status with the internal revenue service. Furthermore, the entity must determine whether it has any unrelated business income, which may be subject to u.s. Federal or state income taxes. The corporation analyzed its filing positions for all open tax years. It also treats interest and penalties attributable to income taxes, and reflects any charges for such, to the extent they arise, as a component of its management and general expenses. The continued application of asc topic 740 has had no impact on the corporations financial statements. The corporation has evaluated the provisions of asc topic 740 for the tax years ended september 30, 2009 through 2013, the years which remain subject to examination by major tax jurisdictions as of september 30, 2014. The corporation concluded that there are no significant uncertain tax positions requiring recognition in its financial statements. The corporation does not expect the total amount of unrecognized tax benefits (utbs; e.g., tax deductions, exclusions, or credits claimed or expected to be claimed) to significantly change in the next twelve months. The corporation does not have any amounts accrued for interest and penalties related to utbs at september 30, 2014, and it is not aware of any claims for such amounts by federal or state income tax authorities.”

“RENTAL EXPENSES -12,374.”

“RENTAL EXPENSES 12,374.”