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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Summary of Domestic and International Components of Income (Loss) Before Income Taxes | The domestic and international components of income (loss) before income taxes are presented for the years ended December 31, 2023, 2022, and 2021:
| For the year ended |
| 2023 |  |  | 2022 |  |  | 2021 |
Domestic | $ | 6,993,316 |  |  | $ | 20,546,466 |  |  | $ | (19,784,397 | )
Foreign |  | 2,057,588 |  |  |  | 568,201 |  |  |  | (1,591,596 | )
Income (loss) before income taxes | $ | 9,050,904 |  |  | $ | 21,114,667 |  |  | $ | (21,375,993 | )
Summary of the Company's Income Tax Expense (Benefit) | The following is a summary of our income tax expense (benefit) for the years ended December 31, 2023, 2022, and 2021:
|  | For the year ended December 31, 2023 |
|  | Federal |  |  | State |  |  | Canadian |  |  | Total |
Current |  | $ | 191,115 |  |  | $ | 33,326 |  |  | $ | 480,391 |  |  | $ | 704,832 |
Deferred |  |  | (10,477 | ) |  |  | (1,596 | ) |  |  | (3,288,615 | ) |  |  | (3,300,688 | )
Total |  | $ | 180,638 |  |  | $ | 31,730 |  |  | $ | (2,808,224 | ) |  | $ | (2,595,856 | )
|  | For the year ended December 31, 2022 |
|  | Federal |  |  | State |  |  | Canadian |  |  | Total |
Current |  | $ | 170,874 |  |  | $ | 27,020 |  |  | $ | 320,639 |  |  | $ | 518,533 |
Deferred |  |  | (499,077 | ) |  |  | (76,050 | ) |  |  | (498,191 | ) |  |  | (1,073,318 | )
Total |  | $ | (328,203 | ) |  | $ | (49,030 | ) |  | $ | (177,552 | ) |  | $ | (554,785 | )
|  | For the year ended December 31, 2021 |
|  | Federal |  |  | State |  |  | Canadian |  |  | Total |
Current |  | $ | 182,034 |  |  | $ | 32,559 |  |  | $ | — |  |  | $ | 214,593 |
Deferred |  |  | (1,750,248 | ) |  |  | (266,704 | ) |  |  | (8,916 | ) |  |  | (2,025,868 | )
Total |  | $ | (1,568,214 | ) |  | $ | (234,145 | ) |  | $ | (8,916 | ) |  | $ | (1,811,275 | )
Schedule of Income Tax Expense (Benefit) Reconciled to the Hypothetical Amounts Computed at the U.S. Federal Statutory Income Tax Rate | Income tax expense (benefit) is reconciled to the hypothetical amounts computed at the U.S. federal statutory income tax rate for the years ended December 31, 2023, 2022, and 2021:
| Year Ended December 31, 2023 |  |  | Rate |
Expected tax at statutory rate | $ | 1,900,690 |  |  |  | 21.0 | %
Non-taxable REIT (income) loss |  | (1,243,204 | ) |  |  | -13.7 | %
State and local income tax expense - net of federal benefit |  | 25,066 |  |  |  | 0.3 | %
Foreign income taxed at different rates |  | 132,010 |  |  |  | 1.5 | %
Change in valuation allowance |  | (3,410,418 | ) |  |  | -37.7 | %
Total income tax expense (benefit) | $ | (2,595,856 | ) |  |  | -28.7 | %
| Year Ended December 31, 2022 |  |  | Rate |
Expected tax at statutory rate | $ | 4,434,080 |  |  |  | 21.0 | %
Non-taxable REIT (income) loss |  | (4,610,750 | ) |  |  | -21.8 | %
State and local income tax expense - net of federal benefit |  | (38,734 | ) |  |  | -0.2 | %
Foreign income taxed at different rates |  | 47,180 |  |  |  | 0.2 | %
Change in valuation allowance |  | (416,953 | ) |  |  | -2.0 | %
Other |  | 30,392 |  |  |  | 0.1 | %
Total income tax expense (benefit) | $ | (554,785 | ) |  |  | -2.6 | %
| Year Ended December 31, 2021 |  |  | Rate |
Expected tax at statutory rate | $ | (4,489,427 | ) |  |  | 21.0 | %
Non-taxable REIT (income) loss |  | 2,655,349 |  |  |  | -12.4 | %
State and local income tax expense - net of federal benefit |  | (185,137 | ) |  |  | 0.9 | %
Foreign income taxed at different rates |  | (69,318 | ) |  |  | 0.3 | %
Change in valuation allowance |  | 400,146 |  |  |  | -1.9 | %
Other |  | (122,888 | ) |  |  | 0.6 | %
Total income tax expense (benefit) | $ | (1,811,275 | ) |  |  | 8.5 | %
Schedule of Deferred Tax Assets and Liabilities | The major sources of temporary differences that give rise to the deferred tax effects are shown below:
|  | December 31, 2023 |  |  | December 31, 2022 |
Deferred tax liabilities: |  |  |  |  |  |
Intangible contract assets |  | $ | (18,111 | ) |  | $ | (30,184 | )
Canadian real estate |  |  | (9,887,050 | ) |  |  | (10,123,376 | )
Total deferred tax liability |  |  | (9,905,161 | ) |  |  | (10,153,560 | )
Deferred tax assets: |  |  |  |  |  |
Other |  |  | 1,267,292 |  |  |  | 90,563 |
Canadian real estate and non-capital losses |  |  | 7,561,373 |  |  |  | 7,935,309 |
Total deferred tax assets |  |  | 8,828,665 |  |  |  | 8,025,872 |
Valuation allowance |  |  | (667,514 | ) |  |  | (4,077,932 | )
Net deferred tax liabilities |  | $ | (1,744,010 | ) |  | $ | (6,205,620 | )

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