Arabian Racing Cup Inc

“Description: interest. Amount: 37.”

“Description: bank service charges. Amount: 60. Description: licenses and permits. Amount: 21. Description: website services. Amount: 500. Description: advertising. Amount: 113. Description: miscellaneous. Amount: 501. Description: travel. Amount: 1,761. Description: meals and entertainment. Amount: 2,015. Description: telephone. Amount: 445. Total to form 990-ez, line 16: 5,416.”

“Description: prepaid expenses. Beg. Of year amount: 953. End of year amount: 0.”

“Section 1.263(a)-1(f) de minimis safe harbor election arabian racing cup, inc. 4 village square smyrna, de 19977 employer identification number:62-1207410 for the year ending december 31, 2014 the arabian racing cup, inc. Hereby adopts for book and federal income tax purposes the following policy regarding capitalization expenses for the year beginning january 1, 2014. In accordance with the internal revenue code sections 167 and 168 and related regulations the arabian racing cup, inc. Has determined that amounts whose individual cost (including tax, installation and delivery costs) does not exceed $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.”