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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
INCOME TAXES |
Schedule of components of income tax expense (benefit) |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Federal: |  |  |  |  |  |
Current |  | $ | 467 |  |  | $ | (63 | )
Deferred |  |  | (275 | ) |  |  | 212 |
|  |  | 192 |  |  |  | 149 |
State: |  |  |  |  |  |  |  |
Current |  |  | 495 |  |  |  | 78 |
Deferred |  |  | (159 | ) |  |  | (82 | )
|  |  | 336 |  |  |  | (4 | )
Income tax expense |  | $ | 528 |  |  | $ | 145 |
Schedule of effective income tax rate reconciliation |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Income taxes at statutory rate |  | $ | 278 |  |  |  | 21.0 | % |  | $ | 199 |  |  |  | 21.0 | %
Increase (decrease) in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State income taxes, net of federal benefit |  |  | 32 |  |  |  | 2.4 | % |  |  | (22 | ) |  |  | (2.3 | )%
Stock compensation |  |  | (2 | ) |  |  | (0.1 | )% |  |  | (11 | ) |  |  | (1.2 | )%
Provision-to-return |  |  | 240 |  |  |  | 18.2 | % |  |  | (2 | ) |  |  | (0.2 | )%
Other |  |  | (20 | ) |  |  | (1.5 | )% |  |  | (19 | ) |  |  | (1.9 | )%
Income tax expense |  | $ | 528 |  |  |  | 40.0 | % |  | $ | 145 |  |  |  | 15.4 | %
Schedule of deferred tax assets (liabilities) |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 213 |  |  | $ | 319 |
Allowance for credit losses and doubtful accounts |  |  | 195 |  |  |  | 180 |
Accrued vacation |  |  | 70 |  |  |  | 59 |
Deferred revenue |  |  | 1,509 |  |  |  | 768 |
Equity Compensation |  |  | 135 |  |  |  |  |
Right-of-use asset |  |  | 11 |  |  |  | 28 |
Other |  |  | 151 |  |  |  | 118 |
Gross deferred tax assets |  |  | 2,284 |  |  |  | 1,472 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Retainage |  |  | (299 | ) |  |  | (240 | )
Fixed assets |  |  | (3,422 | ) |  |  | (3,195 | )
Prepaid expenses |  |  | (188 | ) |  |  | (76 | )
Amortization - intangibles |  |  | (15 | ) |  |  | (14 | )
Realized gain loss |  |  | — |  |  |  | (4 | )
Lease liability |  |  | (11 | ) |  |  | (28 | )
Gross deferred tax liabilities |  |  | (3,935 | ) |  |  | (3,557 | )
Net deferred tax liability |  | $ | (1,651 | ) |  | $ | (2,085 | )

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