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Income Taxes | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The Company’s TRS is subject to federal and state income tax. In 2016, the company owned 100% of TRS1 and TRS 2 that filed separate income tax returns. The companies merged on April 30, 2016. Beginning on May 1, 2016 the Company's TRS is taxed as one legal entity. The components of income tax expense for the following periods are as follows (in thousands):
|  | For the year ended
|  | December 31,
|  | 2016 |  | 2015 |  | 2014
Current: |  |  |  |  |  |
Federal |  | $ | 56 |  |  | $ | 129 |  |  | $ | 82 |
State |  | 69 |  |  | 131 |  |  | 27 |
Current tax expense |  | $ | 125 |  |  | $ | 260 |  |  | $ | 109 |
Deferred: |  |  |  |  |  |
Federal |  | (380 | ) |  | — |  |  | (3 | )
State |  | (46 | ) |  | — |  |  | (1 | )
Deferred tax benefit |  | (426 | ) |  | — |  |  | (4 | )
Total tax expense (benefit) |  | $ | (301 | ) |  | $ | 260 |  |  | $ | 105 |
The difference between income tax expense and the amount computed by applying the statutory federal income tax rate to the combined income of the Company's TRS before taxes were as follows (in thousands):
| For the year ended
| December 31,
| 2016 |  | 2015 |  | 2014
Book income (loss) before income taxes of the TRS | $ | 974 |  |  | $ | 2,384 |  |  | $ | (520 | )
Statutory rate of 34% applied to pre-tax income | $ | 331 |  |  | $ | 810 |  |  | $ | (178 | )
Effect of state and local income taxes, net of federal tax benefit | 38 |  |  | 97 |  |  | (14 | )
Provision to return adjustment | (406 | ) |  | 211 |  |  | 40 |
Permanent adjustments | 16 |  |  | 140 |  |  | — |
Change in valuation allowance | (299 | ) |  | (998 | ) |  | 257 |
Other | 19 |  |  | — |  |  | — |
Total income tax (benefit) expense | $ | (301 | ) |  | $ | 260 |  |  | $ | 105 |
Effective tax rate | (30.90 | )% |  | 10.91 | % |  | (20.19 | )%
At December 31, 2016, our TRS had a gross deferred tax asset associated with future tax deductions of $0.4 million. The tax effect of each type of temporary difference and carry forward that gives rise to the deferred tax asset as of December 31, 2016 and 2015 are as follows (in thousands):
| For the year ended
| December 31,
| 2016 |  | 2015
Deferred tax assets: |  |  |
Allowance for doubtful accounts | $ | 59 |  |  | $ | 36 |
Accrued compensation | 692 |  |  | 489 |
Total book to tax difference in partnership | (404 | ) |  | (356 | )
Net operating loss | 79 |  |  | 130 |
Valuation allowance | — |  |  | (299 | )
Net deferred tax asset | $ | 426 |  |  | $ | — |
As of each reporting date, the Company's management considers new evidence, both positive and negative, that could impact management's view with regard to future realization of deferred tax assets. As of December 31, 2016, management determined that sufficient positive evidence existed to conclude that it is more likely than not that the net deferred tax asset would be realizable against the current period's earnings, and therefore, released the related valuation allowance in accordance with GAAP for intraperiod tax allocation.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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