XML 43 R28.htm IDEA: XBRL DOCUMENT v3.24.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income (Loss) Before Income Taxes by Jurisdiction

Income (loss) before income taxes by jurisdiction was as follows (in thousands):

			Years ended December 31,
			2023						2022						2021
U.S.			$	12,419					$	(5,112)					$	13,989
Canada			(27)						(83)						14
Total			$	12,392					$	(5,195)					$	14,003

Difference between the Federal Corporate Tax Rate and the Effective Tax Rate

The difference between the Federal corporate tax rate and the

effective tax rate is comprised of the following (in thousands).

			Years ended December 31,
			2023												2022												2021
Income tax provision computed at US federal statutory rate			$	2,603					21.0		%				$	(1,091)					21.0		%				$	2,935					21.0		%
Canadian rate differential			—						—						87						(1.7)						—						—
State and local income taxes, net of federal income taxes			349						2.8						128						(2.5)						372						2.7
Stock-based compensation			452						3.6						319						(6.1)						859						6.1
Compensation subject to Section 162(m)			—						—						—						—						180						1.3
Other, net			(532)						(4.2)						(10)						0.2						(106)						(0.8)
Total income tax expense			$	2,872					23.2		%				$	(567)					10.9		%				$	4,240					30.3		%
Effective income tax rate			23.2		%										10.9		%										30.3		%

Income Tax Provision (Benefit) as Set Forth in the Consolidated Statements of Income

Income tax provision as set forth in the Consolidated Statements of Comprehensive Income (Loss) consisted of the following components (in thousands):

			Years ended December 31,
			2023						2022						2021
Current taxes:
U.S. Federal			$	1,370					$	14					$	3,482
State and local			466						237						356
Foreign			—						98						(218)
Total current taxes			1,836						349						3,620
Deferred taxes:
U.S. Federal			1,014						(888)						446
State and local			22						(44)						30
Foreign			—						16						144
Total deferred taxes			1,036						(916)						620
Total income tax provision			$	2,872					$	(567)					$	4,240

Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that give rise to the deferred tax assets and deferred tax liabilities are presented below (in thousands).

						As of December 31,
						2023						2022
Deferred tax assets:
Stock-based compensation expense						$	1,160					$	1,138
Deferred rent						1,039						1,330
Compensation and benefits payable						1,465						1,328
Federal unrecognized tax benefit						—						4
Deferred compensation						464						446
Acquisition expenses						876						841
Other						—						9
Total deferred tax assets						5,004						5,096
Deferred tax liabilities:
Property and equipment						(160)						(186)
Intangibles						(1,917)						(1,593)
Unrealized gains on investments						(614)						(318)
Leases						(915)						(1,214)
Contingent consideration						(636)						—
Other						(36)						(23)
Total deferred tax liabilities						(4,278)						(3,334)
Net deferred tax assets						$	726					$	1,762

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the change in recorded uncertain tax positions during the years ended December 31, 2023 and 2022 follows (in thousands):

Balance at December 31, 2021			$	25
Reductions for tax positions related to prior years			(4)
Balance at December 31, 2022			21
Reductions for tax positions related to prior years			(21)
Balance at December 31, 2023			$	—

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration