| Return Reference | Explanation |
|---|---|
| General explanation attachment | SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION: THE COMPANY (NORTHWEST AUTOMOTIVE PRESS ASSOC, FEIN:91-1466642) HEREBY ADOPTS FOR BOOK AND FEDERAL/STATE INCOME TAX PURPOSES THE FOLLOWING POLICY REGARDING CAPITALIZATION EXPENSES FOR THE YEAR BEGINNING JANUARY 1, 2017. IN ACCORDANCE WITH INTERNAL REVENUE CODE SECTIONS 167 AND 168 AND RELATED REGULATIONS 1.263(A)-1(F), THE COMPANY (NORTHWEST AUTOMOTIVE PRESS ASSOC) 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 BETTERMENT, ADAPTATION OR RESTORATION RULES USED BY THE IRS |
| Description of other expenses Part I line 16 | DESCRIPTION AMOUNTINSURANCE 2,421ADMINISTRATIVE EXP 4,178MEMBERSHIP EXP 789DIRECT PROGRAM EXPENSES 85,258 |
| Description of other assets Part II line 24 | CATEGORY BEGINNING OF YEAR END OF YEARPAYPAL RECEIPTS 1,002 1,352PETTY CASH 350 350 |
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