XML 52 R41.htm IDEA: XBRL DOCUMENT v3.24.3

TAXES (Tables)

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

SCHEDULE OF INCOME TAX PROVISION

The provision for income tax consists of the following:

  SCHEDULE OF INCOME TAX PROVISION

		2024				2023				2024				2023
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2024				2023				2024				2023
Income tax provision – current		$	55,782			$	1,067,639			$	2,067,219			$	1,301,709
Income tax (recovery) provision - deferred			(677,447	)			38,407				(974,691	)			(65,158	)
Income tax (recovery) provision		$	(621,665	)		$	1,106,046			$	1,092,528			$	1,236,551

SCHEDULE OF RECONCILIATION OF INCOME TAXES

The following table reconciles the statutory tax rate to the Company’s effective tax:

  SCHEDULE OF RECONCILIATION OF INCOME TAXES

		2024				2023				2024				2023
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2024				2023				2024				2023
Net (loss) income before income taxes		$	(3,123,898	)		$	5,063,433			$	4,587,607			$	7,816,387
Income tax at the federal statutory rate			21	%			21	%			21	%			21	%
Statutory U.S. federal income tax (recovery) provision			(656,018	)			1,063,321				963,398				1,641,441
S Corporation benefits			-				-				-				(642,278	)
State margin tax			17,736				39,113				101,473				83,349
Non-deductible expense			16,617				-				27,657				-
Other adjustments			-				3,612				-				154,039
Total		$	(621,665	)		$	1,106,046			$	1,092,528			$	1,236,551

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

The Company’s deferred tax assets and liabilities consist of the following:

 SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

		September 30, 2024				December 31, 2023
Deferred tax assets:
Allowance for credit loss		$	16,480			$	117,046
Property and equipment			150,324				16,480
Lease liability – operating			2,155,121				310,426
Lease liability – financing			18,395				24,920
Other temporary difference			750,467				-
Warranty liabilities			127,814				-
Return liabilities			34,370				-
Total deferred tax assets			3,252,971				468,872
Deferred tax liabilities:
Right of use assets – operating			(2,126,373	)			(310,426	)
Right of use assets – financing			(17,306	)			(23,845	)
Total deferred tax liabilities			(2,143,679	)			(334,271	)
Deferred tax assets, net		$	1,109,292			$	134,601

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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-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://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-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