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9) Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2019
Tables/Schedules |
Schedule of Deferred Tax Assets and Liabilities |
| December 31
| 2019 |  | 2018
Assets |  |  |
Future policy benefits | $ (12,450,229) |  | $ (8,293,592)
Loan loss reserve | (1,053,256) |  | (938,496)
Unearned premium | (760,556) |  | (823,299)
Available for sale securities | - |  | (366,279)
Net operating loss | (438,420) |  | (593,272)
Deferred compensation | (1,996,865) |  | (1,677,118)
Deposit obligations | (619,633) |  | (610,769)
Other | (1,020,718) |  | (185,557)
Less: Valuation allowance | 2,439,394 |  | -
Total deferred tax assets | (15,900,283) |  | (13,488,382)
Liabilities |  |  |
Deferred policy acquisition costs | 15,536,717 |  | 15,255,960
Basis difference in property and equipment | 3,638,512 |  | 4,309,162
Value of business acquired | 2,074,096 |  | 1,210,690
Deferred gains | 5,169,104 |  | 6,267,373
Trusts | 1,064,387 |  | 1,064,387
Tax on unrealized appreciation | 5,694,286 |  | 1,030,008
Total deferred tax liabilities | 33,177,102 |  | 29,137,580
Net deferred tax liability | $ 17,276,819 |  | $ 15,649,198

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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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