| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| HOWARD MC KNIGHT, PA, CPA | 620 | 620 | 620 | 620 |
| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|---|---|---|---|---|---|---|---|---|
| COMPUTERS, ETC | 2005-07-01 | 7,981 | 7,518 | SL | 005 |
| Identifier | Return Reference | Explanation |
|---|---|---|
| Election to NOT claim firstyear special depreciation All Property Pursuant to IRC Section 168k)2)D)iii) the Taxpayer elects out of firstyear special depreciation for all depreciable property placed in service during the current tax year. |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| EQUIPMENT | 8,794 | 7,518 | 1,276 | 1,276 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| DEPOSIT | 450 | 450 | 450 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| AUTO EXPENSE | 3,120 | 3,120 | ||
| BANK CHAARGES | 597 | 597 | ||
| CASUAL LABOR | 41,100 | 41,100 | ||
| CONSULTING | 500 | 500 | ||
| DELIVERY | 117 | 117 | ||
| EMPLOYEE BENEFIT | 2,284 | 2,284 | ||
| ENTERTAINMENT MEALS | 1,191 | 1,191 | ||
| LICENSES | 782 | 782 | ||
| MISC | 13,036 | 13,036 | ||
| OFFICE EXPENSE | 1,198 | 1,198 | ||
| POSTAGE | 269 | 269 | ||
| SEMINARSCONT ED | 1,417 | 1,417 | ||
| RENT | 7,512 | 7,512 | ||
| REPAIRS MAINTENANCE | 680 | 680 | ||
| SHOP SUPPLIES | 2,373 | 2,373 | ||
| TELEPHONE | 4,801 | 4,801 | ||
| UTILITIES | 562 | 562 | ||
| CONTRIBUTIONS | 36 | 36 | ||
| CLIENT RENT | 41,396 | 41,396 | ||
| PROGRAM EXPENSE | 31,882 | 31,882 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| PAYROLL TAXES | 2,116 | 4,609 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| TAXES OTHER | 61 | 0 | 0 | 61 |
| TAXESPAYROLL | 8,898 | 0 | 0 | 8,898 |