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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Components of income tax expense (benefit)

				December 31,
				2020				2019
Federal:
	Current			$	212			$	(1	)
	Deferred				416				440
					628				439
	State:
	Current				340				91
	Deferred				159				19
					499				110
				$	1,127			$	549

Effective income tax rate reconciliation

		December 31,
		2020								2019
Income taxes at statutory rate		$	796				21.0	%		$	527				21.0	%
Increase (decrease) in taxes resulting from:
State income taxes, net of federal benefit			443				11.7	%			81				3.2	%
Other prior year adjustments			184				4.9	%			(127	)			(5.1	)%
Provision-to-return			(33	)			(0.9	)%			81				3.2	%
Rate change			—				—				(42	)			(1.7)	%
CARES Act Benefit			(253	)			(6.7	)%			—				—
Other			(10	)			(0.3	)%			29				1.3	%
		$	1,127				29.7	%		$	549				21.9	%

Deferred tax assets (liabilities)

		December 31,
		2020				2019
Deferred tax assets:
Net operating loss carryforwards		$	26			$	21
Allowance for doubtful accounts			100				81
Amortization - Intangibles			—				4
Charitable contributions			—				43
Accrued liabilities			—				7
Accrued vacation			60				76
Deferred buy-back asset			1,259				1,776
Deferred income			314				304
Right-of-use asset			75				91
Other			80				83
Gross deferred tax assets			1,914				2,486
Deferred tax liabilities:
Retainage			(424	)			(518	)
Deferred buy-back obligation			(1,069	)			(1,421	)
Fixed assets			(2,685	)			(2,236	)
Prepaids			(114	)			(104	)
Amortization - Intangibles			(8	)			—
Unrealized gain loss			—				(2	)
Lease liability			(75	)			(91	)
Gross deferred tax liabilities			(4,375	)			(4,372	)
Valuation allowance			—				—
Net deferred tax liability		$	(2,461	)		$	(1,886	)

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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
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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

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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

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