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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Income tax expense (benefit) provision |
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Federal income tax (benefit) expense: |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | — |  |  | $ | (228,000 | ) |  | $ | (22,000 | )
Deferred |  |  | — |  |  |  | — |  |  |  |  |
|  |  | — |  |  |  | (228,000 | ) |  |  | (22,000 | )
State and local: |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | — |  |  |  | (47,000 | ) |  |  | (5,000 | )
Deferred |  |  | — |  |  |  | — |  |  |  | — |
|  |  | — |  |  |  | (47,000 | ) |  |  | (5,000 | )
Total: |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | — |  |  |  | (275,000 | ) |  |  | (27,000 | )
Deferred |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | — |  |  | $ | (275,000 | ) |  | $ | (27,000 | )
Reconciliation between income tax benefit and income taxes |
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Expected income tax (benefit) at statutory Federal tax rate (34%) |  | $ | (1,897,000 | ) |  | $ | (1,051,000 | ) |  | $ | (2,251,000 | )
State and local taxes, net of Federal tax effect |  |  | (400,000 | ) |  |  | (68,000 | ) |  |  | (464,000 | )
Increase in valuation allowance |  |  | 1,704,000 | (1) |  |  | 784,000 |  |  |  | 2,551,000 |
Nondeductible transaction costs related to change in control |  |  | 482,000 |  |  |  |  |  |  |  |  |
Expiration of contribution carryforward |  |  | 85,000 |  |  |  |  |  |  |  |  |
Permanent difference |  |  | 19,000 |  |  |  | 13,000 |  |  |  | 39,000 |
Other |  |  | 7,000 |  |  |  | 47,000 |  |  |  | 98,000 |
Income tax (benefit) |  | $ | — |  |  | $ | (275,000 | ) |  | $ | (27,000 | )
(1) | Reflects a $264,000 reduction to the valuation allowance and related deferred tax assets as of December 31, 2015.
Deferred tax assets (liabilities) |
|  | December 31, |
|  | 2016 |  |  | 2015 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss credit carryforwards |  | $ | 10,316,000 |  |  | $ | 9,456,000 |
Capital loss carryforwards |  |  |  |  |  |  | 395,000 |
|  |  |  |  |  |  | — |
Employee stock based compensation |  |  | 237,000 |  |  |  | 237,000 |
Retail brokerage accounts (b) |  |  | 71,000 |  |  |  | 140,000 |
Contribution carryover |  |  | 158,000 |  |  |  | 178,000 |
Furniture, equipment and leasehold improvements |  |  | 312,000 |  |  |  | 181,000 |
Accrued settlement liability |  |  | 340,000 |  |  |  | 252,000 |
Investment in former affiliate (a) |  |  | — |  |  |  | — |
Other |  |  | 8,000 |  |  |  | 44,000 |
Total |  |  | 11,442,000, |  |  |  | 10,883,000 |
Valuation allowance |  |  | (11,442,000 | ) |  |  | (10,002,000 | )
Net deferred tax assets |  |  | — |  |  |  | 881,000 |
Deferred tax liability: |  |  |  |  |  |  |  |
Receivable from affiliate (a) |  |  | — |  |  |  | (881,000 | )
|  |  | — |  |  |  | — |
| (a) | Relates to receivable from business sold to affiliate treated as an installment sale for tax purposes.
| (b) | Related to acquired retail discount brokerage accounts, which are being amortized over 15 years for tax purposes and have been fully amortized for financial reporting purposes.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 + Details
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