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INCOME TAXES | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
INCOME TAXES | 13. INCOME TAXES The provision for income tax expense (benefit) is comprised of the following: SCHEDULE OF PROVISION FOR INCOME TAX EXPENSE (BENEFIT)
|  | 2023 |  |  | 2022 |
Current tax, federal |  | $ | 753,683 |  |  | $ | 1,017,059 |
Current tax, state |  |  | 340,952 |  |  |  | 460,098 |
Current tax, foreign |  |  | 151,236 |  |  |  | 216,082 |
Current tax |  |  | 1,245,871 |  |  |  | 1,693,239 |
Income tax recovery |  |  | (1,127,689 | ) |  |  | (1,476,088 | )
Current tax, total |  |  | 118,182 |  |  |  | 217,151 |
Deferred income tax, federal |  |  | (172,763 | ) |  |  | (49,088 |
Deferred income tax, state |  |  | (78,154 | ) |  |  | (22,207 |
Deferred income tax, foreign |  |  | - |  |  |  | - |
Deferred income tax, total |  |  | (250,917 | ) |  |  | (71,295 |
Total |  | $ | (132,735 | ) |  | $ | 145,856 |
The following table reconciles the income tax expense at the U.S. Federal statutory rate to income tax expense at the Company’s effective tax rates. SCHEDULE OF RECONCILIATION OF INCOME TAXES
|  | 2023 |  |  | 2022 |
Income before tax |  | $ | 3,623,250 |  |  | $ | 7,859,085 |
US statutory tax rates |  |  | 30.50 | % |  |  | 30.50 | %
Expected income tax |  |  | 1,105,091 |  |  |  | 2,397,021 |
Non-deductible items |  |  | 362,554 |  |  |  | (243,167 | )
Change in estimates and other |  |  | (1,585,427 | ) |  |  | (2,004,041 | )
Foreign tax rate difference |  |  | (92,379 | ) |  |  | (226,611 | )
Change in valuation allowance |  |  | 77,426 |  |  |  | (222,654 | )
Total income taxes |  |  | (132,735 | ) |  |  | 145,856 |
Current income tax expense |  |  | 118,182 |  |  |  | 217,151 |
Deferred tax recovery |  |  | (250,917 | ) |  |  | (71,295 | )
Total income tax expense (recovery) |  | $ | (132,735 | ) |  | $ | 145,856 |
Included in current income tax expense for the year ended December 31, 2023 is a recovery of $1,127,689 (2022 - $1,476,088) for a revision of estimated current taxes payable for previous years. Deferred taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes. Deferred tax assets (liabilities) at December 31, 2023 and 2022 are comprised of the following: SCHEDULE OF DEFERRED TAX ASSETS (LIABILITIES)
|  | 2023 |  |  | 2022 |
Canada |  |  |  |  |  |  |  |
Non capital loss carryforwards |  | $ | 855,176 |  |  | $ | 891,954 |
Intangible assets |  |  | - |  |  |  | - |
Property, equipment and leaseholds |  |  | 30,916 |  |  |  | 47,279 |
|  |  | 886,092 |  |  |  | 939,233 |
Valuation allowance |  |  | (886,092 | ) |  |  | (939,233 | )
Net deferred tax asset |  | $ | - |  |  | $ | - |
US |  |  |  |  |  |  |  |
|  |  | 2023 |  |  |  | 2022 |
Net operating loss carryforwards |  | $ | - |  |  | $ | - |
Intangible assets |  |  | (11,346 | ) |  |  | (6,070 | )
Investments |  |  | - |  |  |  | (7,676 | )
Property, equipment and leaseholds |  |  | (248,701 | ) |  |  | (486,713 | )
Property, equipment and leaseholds |  |  | 284,794 |  |  |  | 274,289 |
Financial instruments |  |  | - |  |  |  | - |
Deferred tax asset not recognized |  |  | - |  |  |  | - |
Net deferred tax asset (liability) |  | $ | 24,747 |  |  | $ | (226,170 | )
The Company has non-capital loss carryforwards of approximately $3,718,155 (2022 - $3,878,060) which may be carried forward to apply against future year income tax for Canadian income tax purposes, subject to the final determination by taxation authorities, expiring in the following years: SCHEDULE OF NON OPERATING LOSS CARRYFORWARDS
|  | Loss |
2030 |  |  | 407,947 |
2031 |  |  | 941,856 |
2032 |  |  | 615,878 |
2037 |  |  | 1,692,555 |
2039 |  |  | 48,048 |
2040 |  |  | 11,871 |
Total |  |  | 3,718,155 |
As at December 31, 2023, the Company has no net operating loss carryforwards available for US tax purposes. Accounting for Uncertainty for Income Tax As at December 31, 2023 and 2022, the Company’s consolidated balance sheets did not reflect an asset for uncertain tax positions but did account for accrued penalties or interest associated with income taxes not yet filed. The Company has no income tax examinations in progress.

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