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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Income Tax (Benefit) Expense | The (benefit) expense for income taxes consists of:
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Current: |  |  |  |  |
Federal | $ | — |  |  | $ | — |  |  | $ | 42,231 |
State | (147) |  |  | — |  |  | 1,210 |
Deferred and Other: |  |  |  |  |
Federal | — |  |  | — |  |  | (42,231) |
State | — |  |  | — |  |  | — |
Total tax (benefit) expense | $ | (147) |  |  | $ | — |  |  | $ | 1,210 |
Schedule of Reconciliation of Effective Tax Rate | The reconciliation between our effective tax rate on income from operations and the statutory rate is as follows:
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Income tax (benefit) expense at federal statutory rate | $ | 2,335 |  |  | $ | (4,566) |  |  | $ | 31,739 |
State and local income taxes net of federal tax (benefit) expense | (147) |  |  | — |  |  | 1,210 |
Permanent tax differences | (1,846) |  |  | (2,499) |  |  | (224) |
Temporary tax differences |  |  |  |  |
Installment note on land sale | — |  |  | — |  |  | (2,875) |
Allowance for losses on note receivables | (77) |  |  | (246) |  |  | (712) |
Deferred gains | (878) |  |  | (1,920) |  |  | (7,041) |
Basis differences on fixed assets | 1,307 |  |  | — |  |  | 22,110 |
Other basis/timing differences | 2,296 |  |  | 3,172 |  |  | (766) |
Generation (use) on net operating loss carryforwards | (3,137) |  |  | 6,059 |  |  | (42,231) |
Reported tax (benefit) expense | $ | (147) |  |  | $ | — |  |  | $ | 1,210 |
Effective tax rate | 4.7 | % |  | — | % |  | 0.7 | %
Components of the Net Deferred Tax Asset or Liability | Components of the Net Deferred Tax Asset or Liability
| Years Ended December 31,
| 2020 |  | 2019
Deferred tax assets: |  |  |
Allowance for losses on notes | $ | 2,674 |  |  | $ | 2,751 |
Basis difference in fixed assets | 1,426 |  |  | — |
Deferred gain | 5,168 |  |  | 5,199 |
Foreign currency translations | 3,818 |  |  | 1,522 |
Net operating loss carryforward | 15,234 |  |  | 18,371 |
Total deferred tax assets | 28,320 |  |  | 27,843 |
Less: valuation allowance | (28,320) |  |  | (21,180) |
Total net deferred tax assets | $ | — |  |  | $ | 6,663 |
Deferred tax liabilities: |  |  |
Deferred gain | $ | — |  |  | $ | — |
Basis differences for fixed assets | — |  |  | 6,663 |
Total deferred tax liability | $ | — |  |  | $ | 6,663 |
Current net deferred tax asset | — |  |  | 6,663 |
Long-Term net deferred tax liability | — |  |  | (6,663) |
Net deferred tax asset (liability) | $ | — |  |  | $ | — |

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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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- 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 + Details
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