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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Provision Charges | The income tax provision charged to continuing operations for the years ended December 31, 2019 and 2018 was as follows:
|  | December 31, |
Current: |  | 2019 |  |  | 2018 |
U.S. federal |  | $ | (152,100 | ) |  | $ | (98,900 | )
State and local |  |  | (40,400 | ) |  |  | (29,600 | )
|  | $ | (192,500 | ) |  | $ | (128,500 | )
Deferred: |  |  |  |  |  |  |  |
U.S. federal |  |  | 70,000 |  |  |  | 3,000 |
State and local |  |  | - |  |  |  | 1,000 |
|  | $ | 70,000 |  |  | $ | 4,000 |
Schedule of Provision Differs from the Amount of Income Tax | The income tax expense (benefit) differs from the expected amount of income tax expense (benefit) determined by applying a combined U.S. federal and state (Puerto Rico) income tax rate of 25% to pretax income (loss) for the years ended December 31, 2019 and 2018 as follows:
|  | December 31, |
|  | 2019 |  |  | 2018 |
Computed “expected” tax expense (benefit) |  | $ | (783,000 | ) |  | $ | (287,000 | )
Increase (decrease) in income taxes resulting from: |  |  |  |  |  |  |  |
Permanent differences |  |  | 7,000 |  |  |  | - |
Apportionment of Puerto Rico income |  |  | 380,000 |  |  |  | - |
Puerto Rico taxes |  |  | (70,000 | ) |  |  | (82,000 | )
Nondeductible expenses |  |  | 173,000 |  |  |  | 242,000 |
Change in valuation allowance |  |  | 148,000 |  |  |  | (324,000 | )
Other |  |  | 22,500 |  |  |  | 455,000 |
|  | $ | (122,500 | ) |  | $ | 4,000 |
Schedule of Net Deferred Tax Liabilities | Net deferred tax liabilities consist of the following components as of December 31, 2019 and 2018:
|  | December 31, |
Deferred tax Liability: |  | 2019 |  |  | 2018 |
Intangible asset amortization |  | $ | 28,000 |  |  | $ | 3,000 |
Intangible asset indefinite lived intangibles |  |  | 42,000 |  |  |  |  |
|  |  | 70,000 |  |  |  | 3,000 |
Deferred tax assets: |  |  |  |  |  |  |  |
Inventory allowances |  |  | 3,000 |  |  |  | 3,000 |
Returns reserve |  |  | 26,000 |  |  |  | 9,000 |
Stock-based compensation |  |  | 716,000 |  |  |  | 562,000 |
Temporary differences |  |  | 15,000 |  |  |  | - |
Net operating loss carryforwards - Puerto Rico |  |  | 3,000 |  |  |  | - |
Net operating loss carryforwards |  |  | 948,000 |  |  |  | 989,000 |
|  |  | 1,711,000 |  |  |  | 1,563,000 |
Less valuation allowance |  |  | (1,711,000 | ) |  |  | (1,563,000 | )
|  | $ | 70,000 |  |  | $ | 3,000 |

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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 + Details
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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 + Details
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