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15. Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes from continuing operations

Years ended December 31,		2019				2018
Current federal income tax expense (benefit)		$	174,779			$	(74,001	)
Current state income tax expense (benefit)			238				(6,784	)
Deferred federal and state income tax benefit			(1,991,208	)			(5,398	)
Income tax benefit		$	(1,816,191	)		$	(86,183	)

Schedule of a reconciliation of the federal statutory rate

Years ended December 31,		2019								2018
Computed expected tax (benefit) expense		$	(1,634,334	)			21.0	%		$	631,483				21.0	%
State taxes, net of federal benefit			(247,909	)			3.2				(377,884	)			(12.6	)
State valuation allowance			261,573				(3.4	)			390,976				13.0
Permanent differences
Dividends received deduction			(97,631	)			1.3				(85,703	)			(2.9	)
Non-taxable investment income			(39,901	)			0.5				(40,861	)			(1.4	)
Excess benefit from stock-based compensation			184				-				(569,459	)			(18.9	)
Stock-based compensation			80,453				(1.0	)			(16,960	)			(0.5	)
Other permanent differences			(15,961	)			0.2				42,496				1.4
Prior year tax matters			(91,748	)			1.2				(61,415	)			(2.0	)
Other			(30,917	)			0.3				1,144				-
Income tax benefit, as reported		$	(1,816,191	)			23.3	%		$	(86,183	)			(2.9	)%

Schedule of Deferrred Tax Assets and Liabilities

		December 31,				December 31,
		2019				2018
Deferred tax asset:
Net operating loss carryovers (1)		$	1,586,247			$	90,438
Claims reserve discount			839,959				343,905
Unearned premium			3,105,344				3,145,682
Deferred ceding commission revenue			1,624,434				564,202
Other			462,019				383,733
Total deferred tax assets			7,618,003				4,527,960
Deferred tax liability:
Investment in KICO (2)			759,543				759,543
Deferred acquisition costs			4,333,219				3,760,625
Intangibles			105,000				140,700
Depreciation and amortization			312,298				664,194
Net unrealized gains (losses) of securities - available-for-sale			1,796,891				(1,151,335	)
Total deferred tax liabilities			7,306,951				4,173,727
Net deferred income tax asset		$	311,052			$	354,233

(1) The deferred tax assets from net operating loss carryovers are as follows:

Schedule of net operating loss carryovers

		December 31,				December 31,
Type of NOL		2019				2018			Expiration
Federal only, current year		$	1,517,866			$	-		None
Amount subject to Annual Limitation, federal only			-				2,100		December 31, 2019
Total federal only			1,517,866				2,100
State only (A)			1,616,568				1,305,365		December 31, 2039
Valuation allowance			(1,548,187	)			(1,217,027	)
State only, net of valuation allowance			68,381				88,338
Total deferred tax asset from net operating loss carryovers		$	1,586,247			$	90,438

Schedule of changes in net deferred income tax liability to the deferred income tax provision

Change in net deferred income tax assets		$	43,181
Deferred tax expense allocated to other comprehensive (loss) income			(2,034,389	)
Deferred income tax benefit		$	(1,991,208	)

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