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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of U.S. Federal Statutory Income Tax Rate and Reported Provision for Income Taxes

The differences between income taxes expected at the U.S. federal statutory income tax rate and the reported provision for income taxes are summarized as follows:

		2020				2019
Income taxes computed at the federal statutory rate		$	(369,000	)		$	(281,000	)
States taxes, net of federal benefits			(69,000	)			(53,000	)
Permanent differences			(136,000	)			17,000
True-up adjustments			115,000				199,000
Adjustment to net operating loss			(17,000	)			(86,000	)
Change in valuation allowance			476,000				204,000
Reported income tax (benefit) expense		$	-			$	-

Schedule of Deferred Tax Assets

The components of the net deferred tax assets as of December 31, 2020 and 2019 are as follows:

		2020				2019
Deferred tax assets:
Net operating losses		$	4,821,000			$	4,081,000
Equity compensation			118,000				392,000
Other deferred tax assets			169,000				149,000
Total deferred tax assets			5,108,000				4,622,000
Deferred tax liabilities:
Other deferred tax liabilities			(68,000	)			(58,000	)
Total deferred tax liabilities			(68,000	)			(58,000	)
Net deferred tax assets before valuation allowance			5,040,000				4,564,000
Less valuation allowance			(5,040,000	)			(4,564,000	)
Net deferred tax assets		$	-			$	-

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- References

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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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