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Note 8: Income Taxes: Schedule of components of Deferred Tax Liabilities (Tables)
 12 Months Ended
Dec. 31, 2013
Tables/Schedules  
Schedule of components of Deferred Tax Liabilities

 

 

December 31

 

 2013

 

 2012

 Assets

 

 

 

 Future policy benefits

 $ (5,381,385)

 

 $ (4,160,489)

 Loan loss reserve

    (2,147,547)

 

    (2,353,765)

 Unearned premium

    (1,759,087)

 

    (1,830,492)

 Available for sale securities

      (566,316)

 

      (599,528)

 Net operating loss

      (873,412)

 

    (1,099,500)

 Deferred compensation

    (1,057,551)

 

    (1,238,270)

 Deposit obligations

    (1,043,964)

 

    (1,060,205)

 Other

    (1,287,773)

 

    (1,090,409)

 Less: Valuation allowance

     5,593,063

 

     6,328,931

 Total deferred tax assets

    (8,523,972)

 

    (7,103,727)

 

 

 

 

 Liabilities

 

 

 

 Deferred policy acquisition costs

   10,914,618

 

     9,945,683

 Basis difference in property and equipment

     6,242,266

 

     5,739,272

 Value of business acquired

     2,951,487

 

     3,341,888

 Deferred gains

     3,545,692

 

     2,790,709

 Trusts

     1,599,657

 

     1,599,657

 Tax on unrealized appreciation

        800,171

 

        996,488

 Total deferred tax liabilities

   26,053,891

 

   24,413,697

 Net deferred tax liability

 $ 17,529,919

 

 $ 17,309,970