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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

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

Schedule of Effective Income Tax Rate Reconciliation

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		)%

Schedule of Deferred Tax Assets and Liabilities

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			$	—

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- References

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: 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

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: 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

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

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