[Lnc-business] Motion for a Capitalization Threshold

[Caryn Ann Harlos]

See attached, and Tim let me know if you have a problem with me removing
the semi-colon in paragraph one.

On Tue, Sep 25, 2018 at 7:48 PM Tim Hagan via Lnc-business <
lnc-business at hq.lp.org> wrote:

>    I will have a motion during the Treasurer Report or as new business,
>    whichever the Chair prefers. The motion is to amend the Policy Manual
>    Section 2.03, Subsection 6, Fixed Assets, by adding two paragraphs to
>    the beginning of the subsection:
>
>    A fixed asset is defined as a unit of property or equipment that: (1)
>    has an economic useful life that extends beyond 12 months; and (2) was
>    acquired or produced for a cost of $2,500 or more. Fixed assets must be
>    capitalized and depreciated for financial statement purposes.
>
>    The threshold amount for minimum capitalization is $2,500. Any items
>    costing below this amount should be expensed in the financial
>    statements.
>
>    This came up with the purchase of a new water heater for the office, on
>    whether it should be capitalized and depreciated or shown as an expense
>    in the financial statements. We don't have a written policy for a
>    capitalization threshold. Our auditor, Mark Frye, said the IRS lets
>    companies and organizations to set their threshold for capital expenses
>    as high as $5000, but he suggested $2,500 as a reasonable figure.
>
>    --
>    Tim Hagan
>    Treasurer, Libertarian National Committee
>


-- 

*  In Liberty,*

*Libertarian Party and Libertarian National Committee Secretary *- Caryn.Ann.
Harlos at LP.org <Caryn.Ann.Harlos at LP.org> or Secretary at LP.org.
*Chair, LP Historical Preservation Committee* - LPedia at LP.org
Call me at 561.523.2250 and follow my public figure page at
facebook.com/pinkflameofliberty/

=========================================================================
Peaceful Commerce With All Nations * Non-interventionism * Re-Legalize All
Drugs * End Government Intrusion In The Bedroom * Repeal All Gun Laws *
Abolish All Taxation * Sound, Free-market Money * Abolish The Fed * End
Corporate & Individual Welfare * Abolish The IRS and Repeal the Income Tax
* Privatize Transportation Infrastructure * Free-market Emergency Services
* Open Migration * Transfer Government Schools To The Private Sector *
Eliminate Regulation *

*VOTE LIBERTARIAN * 800-ELECT-US or http://www.LP.org <http://www.lp.org/>*
=========================================================================
-------------- next part --------------
   See attached, and Tim let me know if you have a problem with me
   removing the semi-colon in paragraph one.

   On Tue, Sep 25, 2018 at 7:48 PM Tim Hagan via Lnc-business
   <[1]lnc-business at hq.lp.org> wrote:

        I will have a motion during the Treasurer Report or as new
     business,
        whichever the Chair prefers. The motion is to amend the Policy
     Manual
        Section 2.03, Subsection 6, Fixed Assets, by adding two
     paragraphs to
        the beginning of the subsection:
        A fixed asset is defined as a unit of property or equipment that:
     (1)
        has an economic useful life that extends beyond 12 months; and
     (2) was
        acquired or produced for a cost of $2,500 or more. Fixed assets
     must be
        capitalized and depreciated for financial statement purposes.
        The threshold amount for minimum capitalization is $2,500. Any
     items
        costing below this amount should be expensed in the financial
        statements.
        This came up with the purchase of a new water heater for the
     office, on
        whether it should be capitalized and depreciated or shown as an
     expense
        in the financial statements. We don't have a written policy for a
        capitalization threshold. Our auditor, Mark Frye, said the IRS
     lets
        companies and organizations to set their threshold for capital
     expenses
        as high as $5000, but he suggested $2,500 as a reasonable figure.
        --
        Tim Hagan
        Treasurer, Libertarian National Committee

   --

     In Liberty,
   [uc?id=1DeRjq-L8dvRZabgEG94VkkUvjoHatcfP&export=download]
   Libertarian Party and Libertarian National Committee
   Secretary - [2]Caryn.Ann. Harlos at LP.org or Secretary at LP.org.
   Chair, LP Historical Preservation Committee - LPedia at LP.org
   Call me at 561.523.2250 and follow my public figure page
   at [3]facebook.com/pinkflameofliberty/
   =======================================================================
   ==
   Peaceful Commerce With All Nations * Non-interventionism * Re-Legalize
   All Drugs * End Government Intrusion In The Bedroom * Repeal All Gun
   Laws * Abolish All Taxation * Sound, Free-market Money * Abolish The
   Fed * End Corporate & Individual Welfare * Abolish The IRS and Repeal
   the Income Tax * Privatize Transportation Infrastructure * Free-market
   Emergency Services * Open Migration * Transfer Government Schools To
   The Private Sector * Eliminate Regulation *
   VOTE LIBERTARIAN * 800-ELECT-US or [4]http://www.LP.org
   =======================================================================
   ==

References

   1. mailto:lnc-business at hq.lp.org
   2. mailto:Caryn.Ann.Harlos at LP.org
   3. http://facebook.com/pinkflameofliberty/
   4. http://www.lp.org/
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