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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

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,
															2021						2020						2019
Current:
Federal															$	—					$	(29)					$	(29)
State															—						—						—
Current tax expense (benefit)															$	—					$	(29)					$	(29)
Deferred:
Federal															—						29						29
State															—						—						—
Deferred tax expense (benefit)															—						29						29
Total income tax expense (benefit)															$	—					$	—					$	—

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 (dollars in thousands):

			For the year ended
			December 31,
			2021						2020						2019
Book loss before income taxes of the TRS			$	(24,391)					$	(4,838)					$	(8,167)
Statutory rate of 21% for 2018 and after			$	(5,122)					$	(1,016)					$	(1,715)
Effect of state and local income taxes, net of federal tax benefit			(1,049)						(253)						(347)
Permanent adjustments			8						4						8
Change in valuation allowance			5,977						1,445						2,100
Valuation allowance release			—						—						—
Other			186						(180)						(46)
Total income tax (benefit) expense			$	—					$	—					$	—
Effective tax rate			—		%				—		%				—		%

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, 2021 and 2020 are as follows (in thousands):

			For the year ended
			December 31,
			2021						2020
Gross deferred tax assets:
Allowance for doubtful accounts			$	99					$	133
Accrued compensation			521						547
Net operating loss			12,427						6,541
Gross deferred tax assets			$	13,047					$	7,221
Less: Valuation Allowance			$	(13,047)					$	(7,070)
Total deferred tax assets net of valuation allowance			$	—					$	151
Gross deferred tax liabilities:
Total book/tax difference in partnership			$	—					$	(151)
Gross deferred tax liabilities:			$	—					$	(151)
Net, deferred tax assets:			$	—					$	—

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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=121826272&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=121826272&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=121826272&loc=d3e32687-109319

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