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Note 8: Income Taxes: Schedule of components of Deferred Tax Liabilities (Tables)
 12 Months Ended
Dec. 31, 2016
Tables/Schedules  
Schedule of components of Deferred Tax Liabilities

 

December 31

2016

(As Restated)

2015

(As Restated)

Assets

Future policy benefits

 $ (9,719,058)

 $ (7,551,336)

Loan loss reserve

        (288,590)

    (1,163,700)

Unearned premium

     (1,519,722)

    (1,610,684)

Available for sale securities

         (51,266)

      (150,984)

Net operating loss

     (1,531,160)

      (588,537)

Deferred compensation

     (2,225,208)

    (1,994,927)

Deposit obligations

     (1,033,580)

    (1,026,984)

Other

     (3,384,144)

    (3,694,959)

Less: Valuation allowance

       431,802

     -

Total deferred tax assets

   (19,320,926)

  (17,782,111)

Liabilities

Deferred policy acquisition costs

     18,150,517

   14,838,604

Basis difference in property and equipment

     10,749,036

     9,375,146

Value of business acquired

       2,573,902

     2,972,883

Deferred gains

       9,290,123

     6,902,888

Trusts

       1,599,657

     1,599,657

Tax on unrealized appreciation

       2,788,322

     2,721,188

Total deferred tax liabilities

     45,151,557

   38,410,366

Net deferred tax liability

 $  25,830,631

 $ 20,628,255