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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

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,
															2018						2017						2016
Current:
Federal															$	—					$	—					$	56
State															—						—						69
Current tax expense															$	—					$	—					$	125
Deferred:
Federal															28						(350)						380
State															—						(46)						46
Deferred tax benefit (expense)															28						(396)						426
Total tax benefit (expense)															$	28					$	(396)					$	301

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,
			2018						2017						2016
Book income (loss) before income taxes of the TRS			$	(6,040)					$	(4,261)					$	974
Statutory rate of 21% for 2018 and 34% for prior years applied to pre-tax income			$	(1,268)					$	(1,449)					$	331
Effect of state and local income taxes, net of federal tax benefit			(200)						(108)						38
Tax reform impact			—						644						—
Provision to return adjustment			—						5						(406)
Permanent adjustments			12						13						16
Change in valuation allowance			1,456						1,289						(299)
Valuation allowance release			(28)						—						—
Other			—						2						19
Total income tax (benefit) expense			$	(28)					$	396					$	(301)
Effective tax rate			.46		%				(9.29)		%				(30.90)		%

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, 2018 and 2017 are as follows (in thousands):

			For the year ended
			December 31,
			2018						2017
Total deferreds:
Allowance for doubtful accounts			$	68					$	51
Accrued compensation			731						505
AMT credit			58						30
Total book to tax difference in partnership			(193)						(579)
Net operating loss			2,654						1,312
Valuation allowance			(3,260)						(1,289)
Net deferred tax asset			$	58					$	30

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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